Bitcoin Forum

EDITED

A friend has offered me a domain to use for collateral. So am seeking a loan of 0.22 for my son's medical bill (surgery), anyone willing to fulfill i'll forever be grateful. Am also open to terms.

Loan Amount: 0.22 BTC
Loan Purpose: Medical Bill
Loan Repay Amount: 0.25 BTC
Loan Repay Date: May 15,2019
Type of Collateral: 0.5 Eth
Domain Name Worth: $ 2000
Bitcoin Address: 3BWHuwUgrCaXw3RENQSYfQm2DSKAywUpmq

Domain Collateral Information
Ealoby.com high level domain - $2000 USD estimated value
Godaddy Estimation: $1060 USD
Freevaluator.com Estimation: $2128 USD

Am Open to Terms ! Help a brother out.

You really think anyone is going to loan you that much when this is your only post ever and you provide no proof?

0.5 Eth is 0.016BTC

https://i.imgur.com/198w0rW.png

A collateral needs to be at least 120% of the loan you are asking for meaning you need to have at least 2.64 ETH as collateral. This is minimum I am saying by the way.

Please read here :  The Rule of "No Collateral, No Loan" - IGNORE AT YOUR OWN RISK! (https://bitcointalk.org/index.php?topic=577765.0)
This might help.

Cheers :-)

I can provide proof if need be, I can also give my LBC account link where I run my trades (am a trader).

You will 100% need to provide a ton of proof

Thanks for pointing that out, but if I had that much collateral I wouldn't bother asking for a loan but rather just use my collateral.

Your LBC account worth almost nothing here and it doesn't consider as much as a valid collateral.
You should read the sticky/pinned thread that Royse777 previously advice you to check it. ;)

Just point them all out and il provide.

That's the best thing you can do now, used your collateral instead.

You are just literally selling your 0.5eth for BTC0.07.

Your collateral is only worth about BTC0.016, and will qualify you for a BTC0.013 loan from most lenders.  I would assume your son's medical bills are more pressing than that 0.5 ETH, so I suggest you sell that for what you can get and try to settle the rest of your son's medical bills over time.

This dude @Oiudprimor had promised to fulfill my 0.07 btc loan for 0.5ETH colat, but he kept asking me for upfront sends, giving me his accs to hold first before i send etc etc... wasted my time for almost 10 hours while vetting "Legendaries" who volunteered to help with escrow as not Reputable. When i chose to deal with @shasan as escrow; he came up with a story of being scammed by someone from ecudor and so we cant do escrow no more.. on my point of view, he is a Selective SCAMMER. And so heartless knowing that this loan is my son's medical bill... still want to deprive me of the 0.5 smh ... Trade with care!

That person contacted you where I have not seen any post of him/her here or on your escrow thread? Have you no contact on bitcointalk? Please response accurately.

Scammer to probably a scammer. First you will need to provide proof about the so called scam attempt from Oiudprimor and secondly, will you give $367 to me if I give you $84 as collateral? Ofcourse not right? So do you think people will just send you .07btc for your .5ETH?

Here on bitcoin talk, then we took it to telegram.

https://imgur.com/a/FR4T3VO

Oiudprimor agreed to send proof: https://archive.fo/lP8Si#selection-3771.0-3775.216 so now you will call Oiudprimor tried to scam?

Yes, no one will give that to a newbie. And if so how Oiudprimor wanted to give. As Oiudprimor wanted to give, how it is possible? Is that a not a scam attempt?

And i can equally give the telegram proofs how he is asking for upfront, asking to send me a wirex acc to hold in exchange of the collateral .. declaring all the legendary people including shasan are not trustworthy enough to hold 0.5 ETH on escrow lol. He is a scammer, beleive me this one is a scammer

The image should look like:
https://i.imgur.com/CSRuACT.jpg
It is clear that s/he wanted to scam as he offered loan privately to you where you are a newbie and collateral is not even 20% of the loan amount. It is your luck that you have not fallen on his/her trap.

Then there is nothing left to talk about. If you're not willing to provide collateral that is worth more than the loan you are requesting, then you will not be receiving a loan. Nobody is going to trust your word, especially considering the only posts are asking for a loan and
The plot thickens at every turn, but if you aren't willing to play by our rules then we aren't going to play.

Accepting collateral that is worth less than the loan, wouldn't make sense, because then what is the purpose of the collateral if it doesn't guarantee that the buyer repays or that the seller has compensation?

Agreed and I just edited the post!

GoDaddy is notorious for estimating the prices of a domain incorrectly. There are almost no lenders that are willing to accept domains as collateral, unless they are a domain-dealer and have full confidence they can consider your collateral "liquid" at the value you've declared. Now you're asking for more than 3x the original amount, for the same medical bill(s) as before, so you'll have to understand our skepticism when we've seen users attempt to sell their domains by proxy through loan-requests.

Am not selling it mate, otherwise it would have been on my original offer ... i asked that because its written on the rules that collateral needs to be %120 so why ask for less yet no one would give me a loan with less. And since i havent broken any rules, it would be nice if you are positive least you giving me the loan or an offer, which i bet you aint!

I would happily give you a loan offer if you were offering valid collateral. That's the purpose of collateral; I wouldn't have to trust what you are saying in order to feel secure in my loan to you.

I never accused you of selling it, but I am explaining to you how your request is going to be perceived. Take it as you will, but I suggest only asking for the amount that you need for the purpose you are asking for; if you need .07 BTC for your medical bills, then suddenly needing .22 BTC for your same medical bills is obviously going to be suspicious.

My main point was to suggest that you find a different form of collateral.

Why are you saying when nobody claimed that you have? You want to be a victim, when only guidance has been offered up to this point.

I would offer you a loan of 0.016 BTC for your 0.5 ETH, and that's based on the value of ETH on https://coinmarketcap.com/currencies/ethereum/

I can not offer you more than that, escrow will have to be paid by you or you find a free escrow. If not I think I have the right to ask for the collateral to be held by myself.

Thanks but i dont need the loan anymore, sorted!