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Title: [Repaid]: 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on February 28, 2017, 12:21:30 PM This is a thread made to track the loan between:
Borrower: SagivS Lenders: 2.5 Condoras (https://bitcointalk.org/index.php?action=profile;u=740502) 0.8 Lone Shark (https://bitcointalk.org/index.php?action=profile;u=909705) 4.7 FrilledShark (https://bitcointalk.org/index.php?action=profile;u=558148) Read update: https://bitcointalk.org/index.php?topic=1808255.msg18453804#msg18453804 TEMP: 0.8 Gunthar (https://bitcointalk.org/index.php?action=profile;u=817682) Gunthar was repay: 803fa664b0222fbb7678e875e6dd9bda83e4aaf8ca91df7e8533486cc7c60ada (https://www.blocktrail.com/BTC/tx/803fa664b0222fbb7678e875e6dd9bda83e4aaf8ca91df7e8533486cc7c60ada) The address where all bitcoins are located is: Code: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa Collateral: SagivS's Bela (Cryptocurrency). Cover at least 125% of the total loan. Held by FrilledShark on Poloniex.com Update: The collateral is held by FrilledShark. It is considered secured after 519634 A stop-limit order on Poloniex are placed at 121% of collateral amount. The respective prices will be publicised after the loan are repaid. All parties knows about it and it was distributed via an automated spreadsheet. Amount: The borrower requested a 8 BTC loan. Update: 2017-02-28 4 BTC was sent to borrower, before the transaction was confirmed. The rest will be sent after the transaction is confirmed by Poloniex. Update: 2017-03-01 The last 4 BTC was sent to borrower. *Temp: As the Borrower wanted to get 8 BTC today (2017-02-28), before afternoon. FrilledShark asked Gunthar for help. He agreed to lend FrilledShark temporary enough to fill this part. This was repaid.803fa664b0222fbb7678e875e6dd9bda83e4aaf8ca91df7e8533486cc7c60ada (https://www.blocktrail.com/BTC/tx/803fa664b0222fbb7678e875e6dd9bda83e4aaf8ca91df7e8533486cc7c60ada) The final loan details are: Amount: 8 BTC. Share belong to: 4.7 FrilledShark 2.5 Condoras 0.8 Lone Shark Interest: 11% each month. Interest: 9.76 BTC by repayment. Repayment date: May 1. Repayment address: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa This will not change. If it does, it will require more then 2 lenders to sign a message stating the new repayment address. The signed messages, originating from an address older then 2 months. THE COLLATERAL IS OTHERWISE LOST! The collateral was received and is currently held by FrilledShark. Recived on the address posted here and held on Poloniex.com Because of the required amount of confirmations on the collateral, it was decided that only half of the total loan was provided early (2017-02-28). Bela: a2f45e24b29f402d8f382d6f3fe3e6b125fd4f73364221a97d629c4458397668 (https://prohashing.com/explorer/Bellacoin/a2f45e24b29f402d8f382d6f3fe3e6b125fd4f73364221a97d629c4458397668/) 3112afb10c07cfc716f7bb2f2ad03558152d36f16a74264dd2efe028a45f778c (https://prohashing.com/explorer/Bellacoin/3112afb10c07cfc716f7bb2f2ad03558152d36f16a74264dd2efe028a45f778c/) fb9bda8e99e3a7c18a7f121db1ec7eaaef360e8b25007ef35327cc9ff5590d6b (https://prohashing.com/explorer/Bellacoin/fb9bda8e99e3a7c18a7f121db1ec7eaaef360e8b25007ef35327cc9ff5590d6b/) Required to reach Withdrawal: c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b (https://prohashing.com/explorer/Bellacoin/c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b/) Bitcoin: d1b69b5cd671277f789ea3fb9b6310173eca3aef7ef328232ee763a3cd91bc98 (https://www.blocktrail.com/BTC/tx/d1b69b5cd671277f789ea3fb9b6310173eca3aef7ef328232ee763a3cd91bc98) cd723c3fbefe8664964006d4b7f1fd52f1e0389ff02a138d4ca5337dfdf9170b (https://www.blocktrail.com/BTC/tx/cd723c3fbefe8664964006d4b7f1fd52f1e0389ff02a138d4ca5337dfdf9170b) Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on February 28, 2017, 12:22:19 PM Code: -----BEGIN PGP SIGNED MESSAGE----- Quote -----BEGIN BITCOIN SIGNED MESSAGE----- Today is 2017-2-27. The pool address for our loan is: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa -----BEGIN SIGNATURE----- IFY8v8/Fslsi8MEKK4onE4XE3i9lqr7zNdO2DxKNqj5PWaJsHjAdZPQ7oM9LXh1vOhBOj6rtv4CfvS4F6mmdHHQ= -----END BITCOIN SIGNED MESSAGE----- Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: DarkStar_ on February 28, 2017, 02:46:07 PM Could you PM me more info? I might be able to fill another BTC or more.
Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Lone Shark on February 28, 2017, 02:57:50 PM Could you PM me more info? I might be able to fill another BTC or more. Hi DarkStar_, this is actually not a loan application or request. We are just here to publicize the loan transcation that would be going down. We are all just finalizing the agreement. Thank you for your interest though. Cheers, Lone Shark Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on February 28, 2017, 04:02:23 PM Bela address:
BSMgHScyeWQwWfC8bNUhv583RpUsh1sQEE Code: -----BEGIN PGP SIGNED MESSAGE----- Code: -----BEGIN BITCOIN SIGNED MESSAGE----- Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Lone Shark on March 01, 2017, 01:32:14 AM Code: -----BEGIN BITCOIN SIGNED MESSAGE----- Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Quickseller on March 01, 2017, 06:14:38 AM Just a heads up guys, the BELA/BTC price has increased ~4x in the past month (with a recent spike to 6x where it was a month ago), and around 12x since Sept 1 of last year. Also, in order to sell 8BTC of BELA, you will have about 2.5% in slippage based on the current orderbook on polo, and around 4.5% worth of slippage to sell 12BTC worth of BELA.
I am also not familiar with BELA, however if poloinex is asking for a certain number of confirmations, there is a good chance there is a good reason for this. I am not sure how centralized the mining (or equivalent) is for this coin. Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Lone Shark on March 01, 2017, 06:20:33 AM Just a heads up guys, the BELA/BTC price has increased ~4x in the past month (with a recent spike to 6x where it was a month ago), and around 12x since Sept 1 of last year. Also, in order to sell 8BTC of BELA, you will have about 2.5% in slippage based on the current orderbook on polo, and around 4.5% worth of slippage to sell 12BTC worth of BELA. I am also not familiar with BELA, however if poloinex is asking for a certain number of confirmations, there is a good chance there is a good reason for this. I am not sure how centralized the mining (or equivalent) is for this coin. Yes, we calculated for slippage and secured that aspect of the loan. That is why we have a 150% collateral with Stop at 121% and Loss at 115%. The only problem was that we did not expect a 2,000 confirmation requirement from Polo. 2,000 confirmations is 2.77 days which is totally unreasonable for any security reason, I think. Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Quickseller on March 01, 2017, 06:43:57 AM From what I can tell, it looks like the "official" website of BELA, http://belacoin.org/ lists 5 pools, one of them seems to no longer be existent, and another is reporting mining 0 miners mining BELA currently. So it looks like that mining might be fairly centralized, and I have personally never heard of the pools, and cannot say how trustworthy/reputable those pools are.
I am not saying that you guys are in the middle of getting scammed, I am just saying that there are some risks of funding (part of) the loan prior to poloinex accepting the deposit. But then again, lending is the managing of risk, and balancing that risk with the potential reward of profiting engaging in certain transactions. Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on March 01, 2017, 07:17:43 AM From what I can tell, it looks like the "official" website of BELA, http://belacoin.org/ lists 5 pools, one of them seems to no longer be existent, and another is reporting mining 0 miners mining BELA currently. So it looks like that mining might be fairly centralized, and I have personally never heard of the pools, and cannot say how trustworthy/reputable those pools are. We are certainly aware of this.I am not saying that you guys are in the middle of getting scammed, I am just saying that there are some risks of funding (part of) the loan prior to poloinex accepting the deposit. But then again, lending is the managing of risk, and balancing that risk with the potential reward of profiting engaging in certain transactions. We have looked at the risks and discussed them. We are currently looking at 2 very different risks. 1: Double spend by borrower. This risk is certainly very important, as it would result in a full loss of the collateral. We waited for about 90 confirmations, before we partially filled the loan. This was done, as the borrower has stated that they were sent from Poloniex. To back this up, he was able to prove this with screenshots. 2: Collateral losing value This risk is the biggest. As we are pretty sure the transaction came from Poloniex. We do not believe the collateral falls more then 50% in value, which is enough to cover the part we already filled. A cryptocurrency falling more then 50% in value is not unheard of, but it is a low risk. We can't isolate one of the risk, without worrying about the other. Edit: I have updated the thread with more information regarding what was discussed yesterday. Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Lone Shark on March 01, 2017, 02:42:35 PM Updates:
1. Sagiv added more collateral in light of the price drop of BELA. He added another 150,000 BELA. A total of 400,000 BELAs are now in possession of FrilledShark's poloniex account. 2. We have completed the 8 BTC loan. We sent the remaining 4 BTC via TX ID: https://blockchain.info/tx/cd723c3fbefe8664964006d4b7f1fd52f1e0389ff02a138d4ca5337dfdf9170b 3. Agreement back on track because the 400,000 BELA is worth 12btc which is 150% collateral versus our 8 BTC loan given to borrower. Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: goldfish17 on March 05, 2017, 06:29:30 AM I would be willing to fill up to 3.0 btc of this loan as well. Will PM OP
Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Lone Shark on March 05, 2017, 11:58:10 AM I would be willing to fill up to 3.0 btc of this loan as well. Will PM OP Didn't I tell you that this has already been filled? Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on March 09, 2017, 03:16:12 PM The collateral amount were reduced by 119634.23550000 Bela.
Because of the recent rice in Bela, the borrower requested the last part of his collateral back. All lenders agreed. The ID is: c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b (https://prohashing.com/explorer/Bellacoin/c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b/) Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on April 04, 2017, 01:26:29 PM Update requested by borrower:
I have held 519k Bela and hold 519k Bela currently. Main post will be updated in 24 hours. Discussions have been ongoing about repayment types. Post updated Edit: (2017/4/5) Condoras withdraw his part of the loan and with the corresponding interest. New status is: 0 Condoras (https://bitcointalk.org/index.php?action=profile;u=740502) 0.8 Lone Shark (https://bitcointalk.org/index.php?action=profile;u=909705) 7.2 FrilledShark (https://bitcointalk.org/index.php?action=profile;u=558148) Transaction was sent from an exchange: 253b7f42a4f1b7b8edbd9cb62dc5ec1d10006841dd90d652511b64ea75b758c5 Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on April 06, 2017, 12:54:32 PM New repayment strategy:
"On friday 3.5 btc will be transferred to 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa and 25k USD worth of bela will be transferred to B4Z7D2RGfCFPnHZxx2xyJ3fGo7tFUts5Pe On saturday 3.5 btc will be transferred to 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa and 25k USD worth of bela will be transferred to BEGFLSHmyLDSr181A7gPodpuirCsumbJdH On sunday the remaining btc of the loan will be transferred to 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa and 25k USD worth of bela will be transferred to BEGFLSHmyLDSr181A7gPodpuirCsumbJdH On monday the remaining bela will be sent to BEGFLSHmyLDSr181A7gPodpuirCsumbJdH" Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: zazarb on April 07, 2017, 08:36:40 AM The collateral amount were reduced by 119634.23550000 Bela. Because of the recent rice in Bela, the borrower requested the last part of his collateral back. All lenders agreed. The ID is: c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b (https://prohashing.com/explorer/Bellacoin/c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b/) Update requested by borrower: I have held 519k Bela and hold 519k Bela currently. Main post will be updated in 24 hours. Discussions have been ongoing about repayment types. Post updated -snip- the arithmetic okay?you did not make a mistake? Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: Lone Shark on April 07, 2017, 08:43:52 AM The collateral amount were reduced by 119634.23550000 Bela. Because of the recent rice in Bela, the borrower requested the last part of his collateral back. All lenders agreed. The ID is: c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b (https://prohashing.com/explorer/Bellacoin/c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b/) Update requested by borrower: I have held 519k Bela and hold 519k Bela currently. Main post will be updated in 24 hours. Discussions have been ongoing about repayment types. Post updated -snip- the arithmetic okay?you did not make a mistake? Probably a minor mistake. I have informed FrilledShark about it. Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on April 07, 2017, 09:36:01 AM The collateral amount were reduced by 119634.23550000 Bela. Because of the recent rice in Bela, the borrower requested the last part of his collateral back. All lenders agreed. The ID is: c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b (https://prohashing.com/explorer/Bellacoin/c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b/) Update requested by borrower: I have held 519k Bela and hold 519k Bela currently. Main post will be updated in 24 hours. Discussions have been ongoing about repayment types. Post updated -snip- the arithmetic okay?you did not make a mistake? Yet another update: The repayment process has begun: Yesterday Sagivs repaid 3.5 BTC: f1bf43c8ec29fcff28c903cad6ae46faa93041bd737697e2175a08146a09bf21 25k worth of bela was released to the lender: 6ea033c99fbf7d35e02dccff3a3625ea6780ffb83d1d91a373c349bdbd4dab1d Title: Re: 12 BTC to 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: FrilledShark on April 12, 2017, 07:53:06 AM Loan is repaid, collateral returned and all lenders got their Bitcoins back.
As the collateral was returned over multiple withdrawals, transactions IDs will only be posted if necessary. The rest of the transactions are as visible from the address: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa Lone Shark was sent 0.9173 BTC. I would like to thank everyone participating and posting. Title: Re: [Repaid]: 8 BTC loan. Between SagivS, Lone Shark, Condoras and FrilledShark + G Post by: condoras on April 12, 2017, 08:15:45 AM I confirm that i get repaid and everything goes smooth.
Thanks Frilled Shark and Lone Shark for the cooperation, it's been a pleasure to work with you guys. I also thanks our borrower for the trust that he show and ofc for his repayment. Hope to do business again... Until the next "big" Loan, regards to all. 8) |