Bitcoin Forum

Hello,

I'm looking for a 4 BTC loan so that I may purchase an additional ASIC miner. Loan will be paid back at 4.5 BTC within 60 days. My current ASIC miners make 3 BTC a month. If the difficulty increases to a point where it wont get my BTC back, I already have 1 BTC put aside and I have no problem converting cash to BTC via coinbase if necessary.  Payments would be made on a weekly or monthly basis (your choice).

Here is my rep from when I used to trade $100's of dollars a day in Diablo gold, never ever cheated anyone.

Reputation from my diablo gold selling days:
http://www.ownedcore.com/forums/diablo-3/diablo-3-buy-sell-trade/352134-us-diablo-3-gold-best-prices-safe-trusted-instant-delivery.html
http://www.ownedcore.com/forums/diablo-3/diablo-3-buy-sell-trade/352086-diablo-3-gold-us-servers-private-buyer-paypal-verified.html

 I would consider it, but two months is too long to return for me.

The loan would net the loaner over $30/month for 2 months. If 2 months ends up being too long of a loan for people then maybe I'd do 30 days. Oh and payments would be made on a monthly basis

If you consolidated it to one month with weekly payments, I'd consider it.

Unfortunately as difficulty increases my hash power wouldn't generate enough BTC to pay that off in 1 month with weekly payments. If the only offers I had was a 1 month loan, then I would be buying a small amount of BTC at the end of the month to pay the remaining BTC off. The main reason why I'm looking for the loan is to keep the amount of cash movement out of and into my bank account at a minimum.

Sorry,  not much I can do. Not enough interest vs risk over time.

Ok, no worries. I can understand how large the risk can be in a situation like this. Thanks for looking into it though :)

Do not loan to OP without $600 in collateral, or you will not see your coins again.

Well that is pretty rude. Not having a long trading history on these forums does not substitute as evidence against me. I have no problem PM'ing you on the forums where I conducted $100's of dollars a day in trades from a virtual currency (diablo gold) to paypal cash. And not even one post in those threads states anything bad about me.

I also made a single 1 BTC purchase on OTC with paypal** and never charged back or anything :P

http://bitcoin-otc.com/viewratingdetail.php?nick=lyth0s&sign=ANY&type=RECV


If you're going to accuse me of anything, please have a solid reason for doing it besides "oh you havent been here for 5 years with 100 trades" etc. Everyone has a start at some point, and my history is good :)

Probably your rep isn't worth 4BTC

Please see here: If you're going to accuse me of anything, please have a solid reason for doing it besides "oh you havent been here for 5 years with 100 trades" etc. Everyone has a start at some point, and my history on other forums is good

You don't understand, if you want a loan you have to prove you actually can pay it back, and if not provide something (like shares) so in case you cant pay, the lender dont looses its money.

Nobody is accusing you (yet)

Vod stated "Do not loan to OP without $600 in collateral, or you will not see your coins again."

That is an accusation that I will steal, before I've done anything at all...

With that attitude you will neither get the loan, Luck!

If I was going to scam I would have just promised the 1 month loan with weekly payments to BitCoiner2012 and ran with the 4 btc lol. I'm only promising what I know I can return and in a trimeframe that I can do it in :)

Loans for mining equipment are absurd. Why loan you the BTC when we could just buy the unit ourselves, mine with it, and once the stated profit is realized, we'd still have a unit to sell on the secondary market. This method equals the payback amount you promised while eliminating all risk. So I'm a little confused as to what incentive anybody has to fill a loan such as this.

Because at 4 BTC the blade most likely would not ROI anyways therefore you'd end up negative if you bought it. http://mining.thegenesisblock.com/a/5e7a7334af

At least I realize this and will buy the BTC to cover the non-ROI ASIC at the end of the loan term. The reason why I'm buying it is for a different purpose than actually getting an ROI directly from mining BTC.

The only time frame that matters here is the term of the loan.  For a loan to happen, it must be a better investment for that period of time than other investment alternatives (mining, gambling, etc).

Hence the need for collateral that will cover the value of the loan, the cost of handling the collateral, and the expected rise in the value of bitcoin over the term of the loan.  The last one is the hardest to gauge and is part of the risk assumed by the lender. 

BUMP

I can fill this loan for 184 LTC collateral. PM me if interested.

I don't get it, you need the BTC to buy mining equipment.  Why don't I just buy it myself?  You have no collateral nor any ID, That's a fail loan right there.