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I mine @1.4Gh/sec
The post you are currently reading is heavily damaged and is not anywhere close to what it originally stated

some time im gonna fix this top post but im too lazy right now

I'd probably be up for this. I have a few questions and comments...

Do you mind saying why you need the 15BTC? Is this purely to build up your "trust level" or do you have a purchase in mind? If it's for a purchase, could you wait until you had saved up the 15BTC? Feel free to answer as much or as little of this as you wish: I'm mostly being nosey!

It sounds like you could pay rough 1BTC every day and a half. Is that what you had in mind for repayments? Would that give you enough "wiggle room" for other expenses? Would slightly higher payments every 2 days work better for you?

I'd also be interested in hearing comments from other people, particularly in relation to handling defaults. I'd imagine if you were to default I'd post at "the list of honest traders" thread (http://bitcointalk.org/index.php?topic=484.0) - I'd be particularly interested in people's thoughts on when to do that - after one default, after one default and a week with no payment, after a year (!), whatever...

One final thing: this is a potential 33% return on my "investment". Is that fair, and if not what should I do with the unfair portion? Donate it to a worthy cause? Which cause?

I have a purchase in mind,No this is not just for trust  Yes I could wait but i'd rather not due to it being a promotional offer, Yes I inten'd to send 1BTC as frequently as possible (expected 24hrs, so 1BTC daily minimum)

If I were to default from the arrangement then yes you would put a big fat "This guy is bad, Here is why, and heres how much of a -xyz i give him"
I cannot think of much else you could do, say I default.

It's really up to anyone to decied weather or not 33% is "fair" and Anyone has merit to say it's not "fair" but the main decider is he whom claims the loan.

I am up for negotiations as to the %profit from the loan but 33% is my comfy zone

OK, that all sounds good. I'm happy to send 15 BTC to you - do you want me to use the address in your signature, or would you prefer a different one (you can PM me if you want to keep it private)? Can you make repayments to 17LMUQVqHrnPg3CZMECMBdW7XV1nr1A4K1, please?

I still feel that 33% is very generous, but I have zero experience with making loans!

33% is just right, not generous.... considering his trust level (ie: none yet) and the timeline (ie: up to a month)

Could you share with us this promotional offer?

33% on a loan that you're probably going to get back is huge. What are the odds he's going to pay you back is the part that's impossible to know.

With that being said if you can afford to lose it why not.
This could be his last post or he might pay it back in full.

Do it though, why the hell not, let's see what happens  ;D

On a side note, you could use Ripplepay or Rain Droplet to record the loan.

think of it like this.... a complete stranger is asking for a 15$ ANONYMOUS LOAN.... people forget bitcoin is anonymous, so he could just scam your 15BTC, create a new account and voila no reputation lost for him, only 15$ gain

the risks are HIGH therefore 25% is the BARE MINIMUM IMO especially since the loan could be anywhere from 2 weeks to a month. 33% is just right, in no way is it generous. I half feel like making a new account and "loan" BTC to prove my point lol

no offense to you OP, but 15 posts, sweet talker with no rep is not a probable return in investment,especially considering the anonymousity of bitcoin and how easy it is to just make another account

heheh!

I will Accept the loan from
LetMeGoogleThatForYou, please send the loan to 1P4y3HKKF5deh4rUBUAq6j4qjuqQhC9J7t
i will continuously send BTC's to the wallet 17LMUQVqHrnPg3CZMECMBdW7XV1nr1A4K1 untill i have sent a total of 20BTC's

Please confirm so that i can mark this thread as "sold"

Oh and yeah, listen to nster, he's pretty bang on

Confirming :-)

I've sent 15 BTC to 1P4y3HKKF5deh4rUBUAq6j4qjuqQhC9J7t (blockexplorer) (http://blockexplorer.com/search/5f922b9df8dceec8bb1bf59d7822fd2dba416ef00de2f0f19bccac373a7a887d) - expect to see it shortly.

Enjoy your loan, good luck with the purchase!

Thankyou LMGTFY, I will now no longer accept Any loans until further notice
I'll PM you with my e-mail should i fail to give you a Prompt payment

May I ask once again, what is this promotional offer you speak of that is so interesting to buy?

You have a PM

How does charging an interest make it more likely that you will get reimbursed?

It doesn't, It gives someone a reason to give me a loan, it offers no comfort

I have some coins lying around contributing to scarcity rather circulating in the economy. So if you want another 15BTC zero interest loan, let me know, with your repayment plan of course;

I will definitly send you a tell should i need a loan, Enjoy your day

You could, uh, borrow 15 BTC, and repay me... you'd swap a 33% loan for a 0% loan. Sucks for me, but it's in your best interest.

I'd have no problem with early repayment, by the way. If I was smart, I'd have thought about that before we did the deal, but I didn't!

You could always say the deal was for 20btc repayment but then he could always tell you to suck it.
Not like there's anything too hardcore going on here though, friendly little loan.

it doesnt help your reputation if you back out of a loan now  ::)

It doesn't help it, sure, but I don't think reputation should be harmed, either - since the lender (me) is happy for early repayment without penalty. That said, reputation would probably be improved if JackRabiit stuck with the original loan :-)

Hehehhehhh
The way I see it a deals a deal. ;D

but personally I would not like to loan to someone who backs out of a deal, even with lender's consent

it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that

and about the question of how higher interest gives security...

It doesn't change the percentage of chance he pays back, but you get a better return for your RISK. ie: hypothetically, say there is a 25% risk of this being a fraud. now if he gives 3 BTC interest out of 15BTC, you lose 6BTC every 4 loans, now if it is 5 BTC out of 15BTC, you lose 0 BTC every 4 loans

Definitely hasn't run off! I'll keep the details private, but will just note that I'm very happy with the way things are going and my trust levels are now well above zero.

yea I know he's been very up front with me and honest... plus he agrees with me alot, that can't be bad  ;D

Huzzah! my idea is working! ;D

ofc, however to get sch a loan you'd need OK reputation....

Exactly. Time is also really important, how hard is it to build trust over a few days, rip people off and do it again.
Still the most important thing to remember is don't invest anything you can't afford to lose.

Couple of points: "don't invest anything you can't afford to lose" - absolutely. I could, if worst came to worst, write off the 15 BTC.

Re: scalability: yes and no. In terms of loan-size, which I suspect you (Vladimir) are referring to, then yes - absolutely. In terms of "loan book size" (i.e. number of loans) then no: I think this could scale.

Re: trust: this is something that the PayPal -> BTC providers have had to consider, and I'd imagine that lessons they've learned would be applicable to BTC lending as well - things like start small, build up trust. Risk assessment would need to consider how well known a borrower was, how much was being borrowed, what the borrower felt they could reasonably repay (and whether the lender believed that!) etc.

I think a point that tops all of that is what you know about the borrower. If you've got a forum name and a btc address and that's it then I'd be more worried than if I had a verified land line / address / name etc etc. Since a lot of btc is anonymous by nature (but doesn't have to be) then I think it changes things.

If a guy at my office wants to borrow $5 for lunch that's a hell of a lot less risky than someone that I don't know their name / location or anything else.
But this goes without saying, I'm sure everyone else is already thinking it so I don't know why I typed it.

Yup! it's all about the borrower and how well your gonna trust them based off what you know.

http://blockexplorer.com/address/17LMUQVqHrnPg3CZMECMBdW7XV1nr1A4K1

Yep, looks like it's being paid off at a good rate ;)

Was posting the repayment address publicly part of the plan to show your trustworthiness?

as far as the 'building up your trust' issue goes, take a look at the bitcoin-otc web of trust (links in sig)

Heh i didnt post the repayment address ask the other dude lol.

I have now received 20 BTC from JackRabiit, and the loan is repaid in full, including interest!

Very happy with how things turned out: JackRabiit repaid consistently and quickly, greatly surpassing my expectations.

I've rated JackRabiit "+1" here (http://bitcointalk.org/index.php?topic=484.msg77210#msg77210).

7 Days, 5 BTC?   :o

Well.. when you put it like that it does seem less doesnt it?

xyz: Hi I would like a loan of XBTC, will repay YBTC.
abc: Sure, here's XBTC.

later...

xyz: here is your YBTC back.
abc: thank you. I and the other forum members will surely trust you now, xyz.


xyz == abc. Problem?

xyz: Hi I would like a loan of XBTC, will repay YBTC.
abc: Sure, here's XBTC.

Days later.

abc: Where's my YBTC?
xyz: Oh, one sec.

Seconds later...

xyz: Hi, I would like a loan of YBTC, will repay ZBTC.
def: Sure, here's YBTC.

A bit later...

xyz: Here's YBTC.
abc: Finally. Well, you repaid me regardless. (+1 rep)

Days later:

def: Where's my ZBTC?

...Repeat.

http://gintekram-enruoblem.amebae.com/img/trollface.jpg

^ Trollnomics

do you have any heatware?

lawl heatware?

and the 'Problem'? statement

1.)the world'll pretty much get a loan to pay a loan(by printing money is one way)
2.)Yes thats a bad thing, But what do you think'll happen when people ask for money without reputation, They get a No, or a Generous yes
3.)He whom has an outstanding loan shouldn't beable to get another one, Hence the rep system and repayment logs
4.)Yarharhurrr someone could just Fk around by making new users to get a loan to pay a loan, But agian, Rep system.
5.)and then again, "it could be fake rep or rapid gen'd rep", Well no shit. What do you propose?

Bump...

Wouldn't a trust escrow along the lines of what Nefario et al. have been setting up be better?

Something like:
Newbie with low trust places a sum of money in escrow as collateral against any claims of misbehaviour. Say you want to buy something for 300 BTC but have no trust. You have 300 BTC in escrow, and anyone can verify this. You make the purchase, and if you pay up, everything's fine. If not, the 300 BTC is taken from escrow and transferred to the party left unpaid.

I have no problems using an escrow, however i dont want to make a google account as faully as that sounds
Aswell as i have never used an escrow service before (Clearcoin is one if im not mistaken) so i wonder how exactly it works.

Heres how i think it works:(in my loan scenario)
Mr.A)"ive placed 30ß in the escrow"
Mr.B)"Sweet, now im gonna go spend that 30ß Out of the Escrow?"
Mr.A)"uhhhhhhhhh wait what?, i dont think thats how it works dude"
Mr.B)"what?"
Mr.A)"usually when i escrow money its for me to buy something from you, and as such, you dont get to use that 30ß untill you send me what i asked for"
Mr.B)"sooo......?"
Mr.A)"sooooo you send me what i want"
Mr.B)"but im trying to loan 30ß, wouldnt that mean that you'd require me to send you 30ß to calim the 30ß?
Mr.A)"uhhhhhh anyone wanna jump in here?"

escrowing BTC for the purpose of getting a loan denominated in BTC doesn't really make much sense. :) if you have the btc to escrow, you wouldn't need the loan.

escrowing other currencies or goods as collateral may work though.

well yeah thats kinda my point, So anyone feel like loaning?

how long before the lender gets his coins back?

You are looking for another loan?

yes.

I can provide this loan. Could you please list the following:

How long are you requesting the loan?
What frequency are repayments to be made? All at once or periodically?

I think he said something like at least 1 BTC per day, so periodically, for like 30 days MAX but could be faster, like 15 days

Yup, just as nster says, and at the beginning of this thread it's underlined that i will pay you As fast as possible

If he backs out, I'll take on the loan

I can do this 20 BTC loan to you but my condition is no interest/gain. Pay back 20 BTC within 30 days and I am satisfied. If this is acceptable to you provide an address for me to send 20 BTC to if different than 1P4y3HKKF5deh4rUBUAq6j4qjuqQhC9J7t. Return payment to 1BmVMDJ6RLVoibT1QkbByjgffyQX1e5o2i.

What is it with people offering free loans lol

If you don't want that, I will loan 20 BTC for 30 BTC payout.

I'm pretty sure he prefers not to give away BTC unnecessarily >.>

So, do you want my loan :?

The terms are I give you 20 BTC, you give me 30 BTC < 30 days. Right?

usury is a sin

usury? i just went and readup on that on wiki because i did not know what you we're reffering to.

I Honestly do not see why it's a problem if someone asks for $xyz,
And the one whom he asks says "only if you give me +$xyz+xyz% in return" Somehow thats a 'sin' Because he wants something in return for giving away his wealth?

I would rather not have this thread become a religeous related debate.
My thoughts as to the 0% intrest loans were "is this guy gonna take the bait" kinda booby trap of someform.

Now, I will be Very active for the next 2hrs, Whomever would like to approach me for the loan, Please do so now, However,
I am currently attempting to contact JamezQ about the loans, and the obvious terms that Will apply

wait, why are you not taking trentzb or wtv his name is loan with no interest?

luke-jr, get back on the IRC.

I agree this is strange : you'd rather pay interests on your loan than not ?

??

This is a confusing thread. The title says it's open, but judging from the recent replies the offer's already taken?

Let me know by PM (or message me on IRC, I'm Beremat there too) if you'd like me to loan you 20BTC for 30BTC payout, or any amount below that you'd like, really.

The offer is open just as the thread says, But i think it'll be closed since i think you'll be collecting the loan

To all others, this is because i am on a deadline and sadly you were not online whilst i was

Very happy with JackRabiit so far :) :)

Forgive me, but this is starting to smell fishy.

I know it does, but it seems to be working so far no?

Well if this smells fishy i mayaswell post the second loan's transaction log, Since it's seeming to become a neccesity
http://blockexplorer.com/address/1B7GDXg7S2qYmyciXP9756vLEusiCMRD6f

whats fishy is the incrementally higher loans. perhaps also that the fact that some people somehow decide to give you free loans for some reason, but that I can still believe

Thing is, with incremental loans is that some scammers do this. start with small amounts and get trust to do a bigger amount and on and on until they can get away with a big pot. Also the fact that you asked for a bigger loan, saw  that noone was taking it because of the amount (ie: trust not high enough), so you lowered it (ie: to the correct trust lvl)

As for now, IMO, you seem legit. doesn't mean this doesn't sound fishy, because it does, t means that even though it sounds fishy, I do not think you are trying to scam us :p

In addition to the unknown reason of why he would choose a loan requiring interest instead of the 0% interest loan I offered. Puzzling indeed.

that too

Well personally, i wouldnt give out a 0% intrest loan unless it was to a close friend of mine, Why? Because i have no reason to do so, But if they say "yeah i'll pay 150% of what you payed me" then im all for it, If i can get a garuntee of someform.

Unpersonally:
I havent taken any of the 0% loans for these reasons:
1.)The dude's were not online at the times of me Actually claiming a loan
2.)Usury religious reason aside:It kinda looks like a booby trap of sorts IMO, eg:i start repaying and the guy goes, "oh thats not my address wheres my ß?"
3.)It doesnt feel right to temporarly get a cash boost without penalties.

It's not like i wont take a 0% loan, it's just been avalible at times where im not avalible

Good explanation, thanks for the clarification.

The incremental loans are suspicious though. The fact that you didn't get anyone at... 45BTC was it? and you went drastically down to 20BTC

When i was looking for the 30ß loan 45ß payback i had close to 0 coins, where as when i asked for the 20ß/30ß loan, I had coins

A post for the Skeptics:
Yes, People do scam by incrementally rasing thier trust slowly and then run off with a large sum, I cannot deny this.
The value of coins at this moment is 1.7usd per coin, So theoretically during the time that i slowly repay, There are odds that coins could get even more valuble, And since I feel that these loans are like contracts, Im obligated to repay the total # of ß, Regardless of thier total value

I dont understand why people are offering me 0% loans, Aside from the factor written above;
Maybe they forsaw that 1.17 was gonna rise to 1.7, Maybe not.
Or perhaps they are religeous and are holding onto the 'Usury' factor.(Again i dont want a religious argument Dont Start One)

If you will Only pitch me a loan if you know what i intend to spend the coins on, Then i will only do so in a private message, What i purchase shouldnt be anyones buisness, However it's undeniable that he whom loans will wonder what the money is for. Unless its: 'your job, Now do it'

I can loan you 20 BTC to be repaid 25 BTC in less than 30 days.
If you would like to accept my loan, post a new payment address for me to send the coins to and I will post a repayment address.

Thankyou! Here is my desired payment address, I am also sending you a PM with the same address to ensure nobody hits "edit" on the addresses

14iCUc6G38gR7yfNCjib2G6LENR35z4Syj

I can most definitly repay you within 30days!!(unless difficulty spikes by double)

I would be happy to loan you some coins, if you still need them.

Well that all depends on the speed of SteveB
And weather or not i should trust him, His name reminds me on StevenBucks, But i dont know if he WANTS me to think that, or if it's StevenBucks with another account for whatever reason

roger that :)

I have sent the 20 BTC

Please repay to 1Apaz2VfbeZTBVCLXugBwH3a3baUi2kxPg

Thankyou SteveB!, I really appreciate your buisness! Feel free to Nag me Via email/PM if i fail to pay you a coin ona day (although if i send you 3one day and 0the next please wait a day)

I am definitely NOT StevenBucks!
If I had known that there was a scammer with a similar name I would have chosen a different name when I signed up for the forum.
SteveB just happens to be my real first name and the first letter of my last name.

Well i assume thats comforting to think about;
Question: did you send the ß with any fee? i do not see the transaction showing up in the block explorer
http://blockexplorer.com/address/14iCUc6G38gR7yfNCjib2G6LENR35z4Syj

afaik fees don't affect transaction speed (yet). It also seems some transactions can get "lost", I've had to wait 2 days for a few to even show up, but they did, eventually.

No, I did not pay a fee. There are only 41 unconfirmed transactions listed on http://bitcoincharts.com/bitcoin/ so it should not take too long to confirm.

Just got it, Thankyou!

Yuppers

Yeah that happend to me once too, I was really mad, I was convinced that sending with a fee incresed speed but one of my .03fee trasactions took 32hrs, like double you tea eff?

Just a note: SteveB's repay adress is messy

What do you mean by my repay address being messy?
I don't see any problems with it.
http://blockexplorer.com/address/1Apaz2VfbeZTBVCLXugBwH3a3baUi2kxPg (http://blockexplorer.com/address/1Apaz2VfbeZTBVCLXugBwH3a3baUi2kxPg)

meh, just comparative to the other two flawless repay adresses yours is-----------------  My Bad.................................................
Those are just the collectors of fees
LOL
 ;D

Ah, I see what you mean now.

JackRabiit has just made his last payment and my loan to him is now repaid in full.
http://blockexplorer.com/address/1Apaz2VfbeZTBVCLXugBwH3a3baUi2kxPg (http://blockexplorer.com/address/1Apaz2VfbeZTBVCLXugBwH3a3baUi2kxPg)

He made regular payments and keep in contact with me during the whole time.

Thank you JackRabiit, it has been a pleasure to do business with you!

np!~ and thankyou for the loan!
wouldn't 'paid in full' be one lump sum?

no... paid in full is that the whole amount is paid back

Yes, that is what I understand the term 'paid in full' means: The whole loan, including interest, has been paid back.

Lawl i mean All At Once, Ie, One Payment of the full amount = 'paid in full'?

nope

paid in full does not imply or state that the payment was made all at once at all. ;)

Necrobump!

I'll loan you 5 bit coins for 6.

Just give send me the address to send to.

 :-X Just checked mtgox, with coins on rise it would be stupid for me to accept your loan, If they dont stay on rise then i'll definitly take it :-X
Thenn againnnn

Received your PM, coins should be on their way to your acct.

JackRabbit paid the loan + interest with no problems at all.

A trustworthy person who kept his end of the deal without issue, I wouldn't hesitate to loan again.

Thanks JackRabbit

Thank YOU pixie for doing me such a favor
Loaning is REOPEN, please do say hi!~

Hi,

I'm in here for a trust and profit. I'll give you a loan of 3 or 5 BTC's. Drop me a pm.

Once i've repayed Pixie i'll let'cha know!~
Done!~
Hiya new guy!

Necrobumped!

I will loan JackRabiit 5 coins for 6.5 in return.

The return address is 1ML1uuKLXn2ou6nJco7pq4PxScbs8MxWCg
Sent return address in PM as well.

Mmmhmm! sounds great to me!
Shame nobody else stepped in and grabbed the loan earlier, But meh, These go fast :D

Sent loan of 5BTC to 1NpdDtP2CRQMUbboZ2x5YbmoWGu7GPazjJ
currently awaiting confirmations from the network

Failure of my brain has lead to displeasure on Coolty's end but he has not reported any problems so far

Coolty was paid off quite awhile ago and i forgot to mention it, Thankyou Coolty!

Took a 4btc loan from Palsecam
Singed a gpg contract.
repayment due before the 28th of August 2011, at 23:59 UTC.
Thankyou Palsecam