Bitcoin Forum

Looking for loans.
The loan amount should be $500 - $3000 or more if you feel comfortable.
You must be in the USA, so we can do a simple bank-to-bank ACH transfer, or via dwolla. The goal is to keep the transaction cost low.

I will repay you in 3 months time, with 1.25% interest. So, $1000 will get you $1012.50 in 3 months.

Will provide you my full name and address. You can take my mining rigs as collateral. Hashing power about 7.5-8G/Hash.

Let me know what you guys think. I believe 5% is fair, but that's negotiable.

Where are you located in the U.S.? I think that's someone who would be willing to make this loan would want to know.
(I'd never do it, way too much risk involved.)

Full details would be provided once people are interested. I am in the continental US.

My guess is that he is going to be spending it on his stock strategy which he is selling for $100.
He claims he "can make 15-25% or even more on your money per yr, with almost zero risk."
https://bitcointalk.org/index.php?topic=53973.20

It seems suspicious to me.  He is reporting gains on what looks like a loss. https://bitcointalk.org/index.php?topic=53973.msg643704#msg643704

Lender beware

YOUR OWN calculation shows "Net profit: $12.30".
How is that a loss?
Furthermore, the strategy is for LONG term. 3 months is not long term.

$12.30 on $1000? ask your mum or dad, they would be the only sane person to give you that rate.

You believe 5% is fair for a semi-anonymous no-recourse signature loan.  Wow.  You do understand that most people's mortgages were (at least until recently) >5%?

Did you not read "Will provide you my full name and address. You can take my mining rigs as collateral. Hashing power about 7.5-8G/Hash"?
But if you are paying >5% mortgage.... you shouldn't loan anyone money. The best rate I can get for mortgage is 2.8%.
Then again, I said NEGOTIABLE. What do you think is fair then?

It is 12.50, not 12.30........
So what you are saying is all banks, federal reserve, ECB, IMF, etc are all insane?
oh, I don't have mom or dad

Of course I did.  
Yes I would consider that semi anonymous a signed notarized contract along w/ notarized as copy of your passport would be proof of identity.  

You can't get 2.8% on a mortgage.  APR is what matters.   Even if you could it is SECURED BY A HOUSE, registered with the state, backed by an enforceable contract, credit check, and ability to foreclose.


15% w/ notarized contract.

Then get a loan from the federal reserve or IMF.

No need to flame.
I can get 0% balance transfer on credit cards, minus say 1-2% fee.
At 15%, I might as well not borrow at all.

Yeah, it looks like you made a profit on that transaction, but I still feel confident that you don't understand the risks of your own system if you say it is "Risk-free".  It looks like you are selling an option and thus limiting your upside while still exposing yourself to downside risk.  There's no such thing as a free lunch in the financial market. Lender beware.

1.25% is ridiculous considering the level of risk being taken on such a large loan.

Got a link to this 0% balance transfer w/ 1% fee cards?  The single lowest card I have seen is 0% w/ 3% fee.
Penfed also has a nice 4.49% balance transfer w/ no fee card.

Of course even those incredible offers are with verified credit and income and only given to most creditworthy applicants.


Well at 1.25% no sane lender is going to lend to you.

A lot of you are missing the point.
1.25% per 3 months is more than 5%APR.
Find me a bank that pays you more than 2% these days.
If you think is too much risk for you, then please move on.

A bank is FDIC insured you aren't stop drawing false comparisons.

I understand your attempt here in acquiring funds.

Basically you want a loan from the 'BitCoin Bank.' You are offering collateral and detailed information for said loan. Perhaps if you provide a detailed business plan on the use of the money, there 'might' be some interest. Look at it from another perspective. You want $1000 for 3 months and for said risk; all the investor gets is $12.50?

You have to let your investors know you aren't going to double down at the Casino.

If your plan makes sense and since you are willing to forgo anonymity, you might get a taker. Probably from someone very local to you, just in case.

However, if you are just investing in another's fund here, they might just go and put their money with him instead and get a little more interest.  ;D

I like the effort, BTC Loans will eventually have to come into play as options have.

Totally understand.
See, I have a real job, and a few rigs putting out 8+Ghash.
What I do with the money is my own problem, if I double down at the casino, so what?
Say someone make 3000 a month, and borrows 1500 and spent it at the casino. That someone could easily make 1500 back in 2 weeks.
The important thing is will I be able to repay. Do you think banks are safe? Most western (meaning US and European) banks leverage your deposit 30+ times. Do you think that is safe?
I would rather lend someone $ knowing they can actually repay, than put it into bank and let them leverage it 30 times. We all know what happened to MF Global.

But then again, just an option for those interested. It's not like I really needed the money now or I am done or something like that.

LOL ;D

There's a high inherent risk in lending stuff to pseudonymous people on the internet. I've done a lot of it, but in many cases I've asked for (and received) interest rates in your rage, per day. You may be providing collateral, but unless someone actually wanted a bunch of mining rigs, nobody wants to go hunt you down and deal with law enforcement and collections. To make that option more palatable, people want a larger payoff. Lending money to strangers you've never met is terrifying :)

For some perspective, look at pirateat40's thread looking for lenders. He's offering 1% per day on loans, and is reputable and well liked on the forums. If someone has spare money lying around, do you think they'd give it to you or to him?

Banks dilute the risk of their investments among their depositors, hence they can afford to charge lower interest rates.

Individuals, on the other hand, gain it all or lose it all.

Additionally, if it is possible to earn 5% annually on a corporate bond or dividends of Verizon stock, why would someone loan you money at the same rate? There is no gain for the massive increase in risk.

P.S. The request in your new thread is much more reasonable. Good job.

nobody is forcing you to lend me money at the rate if you can earn it with verizon stock. Just hope that your stock price will stay the same should the EU crashes, and pull US down with it.

BTC is BTC. USD is USD.
The loan in BTC will be paid back in BTC.

If you've got 8 GHash of mining gear, I would recommend a pawn shop as a place for a good loan.

A notarized signature on your "contract" is nothing more than proof that you got someone to attest to your signature being the one on the document, and means nothing about the validity or enforceability of the contract. If someone wanted to physically take possession of your mining rigs as security for your loan, they would be spending far more in transport costs to move them around than it would be worth, and leaving them in your possession eliminates any consideration of them being security for the loan.

What you are looking for, without providing any specifics about how the money will be used, and what your actual capability to repay the loan is a signature loan based on nothing more than a rumor that you have a way to beat the system.

There are lenders that do that kind of business. My cousin Joey "Two Fingers" Giancarlo is one such lender. For this type of loan, and with your attitude about it, he would loan you $3,000 in a heartbeat. The weekly vig on it is 10%, every Friday, in US cash, no BTC. You are late by so much as two minutes on any Friday, you will learn exactly what the nickname "Two Fingers" means. After 30 days, you pay the full $3,000, plus a final juice of 10% and you keep your mouth shut.

Shall I have a lending officer contact you?

$3k per person?  At 1.25%?  If you had a genius stock-trading tip that makes you infinite funds--practically a licence to print money--you wouldn't need a loan but you would be the one offering loans. 

TRUST ME.  You don't want to owe people money.  Last year I was in a rough spot, I was holding someone's money and these three cute girls totally duped me and got me robbed and I had to repay money that wasn't even mine in the first place...  And I had to sell my TV and a bunch of other stuff, because some people are serious when it comes to debt.  Take LoupGaroux's advice seriously before asking for money.

If anyone loans this person money I hope they let it be public so we can make a bet on www.betsofbitco.in an we can bet for or against the repayment. 

It takes time to "print money". Say you can make 100% a yr, but you only have $5, that makes you $5 a yr. But if you have 1 trillion, you would make 1 trillion in a yr. See the difference?
So you are against the idea of owing money? then I suggest you hand me all your cash, as it is an IOU.

BTW, how much would you bet on www.betsofbitco.in?

Details will be provided for interested individuals. Have you ever heard of trade secrets? you only reveal those to INTERESTED investors/lenders, and have them sign a NDA.

funny. if i pawn it, i can't make money with mining!
and hey, where I live, people won't even pay $200 for a Core i7 laptop.

I'm not sure how much I would bet, but I would definitely submit the bet for 0.1 BTC plus like 1 BTC and get a small % of the cut at the end.  Small risk, small reward.

But you cannot guarantee you will make $5 or 1 trillion.  Who can guarantee that?  If you could, you wouldn't need a loan.  I've made $10,000 in 1 day before, I've also lost >$10,000 in 1 day before.  If you invest in something, that's sort of a gamble.  Your account could hit zero at anytime.  The only difference is if you are at zero or minus $3000. 

Time for some credit default swaps :)

We are certified, trustworthy, reliable, efficient, fast and dynamic. and a co-operate financier. We give out long term loan for 5-25Yrs maximum @ 2% interest rate, If you are interested do get back with this information below.
Your Name:
Address:
City:
Country:
Phone:
Amount Needed:
Loan Duration:
Email: johnharry098@gmail.com

Thanks
We hope to serve you better

Regard
Mr.john Harry

Smells fishy.  YEARS long loans at 2%?  Either identity theft, or collateral scam.    ::)

I smell the rotten fish too.
One post noob with easy, cheap loans?
This community is good, but not that good....

Holy necro, this thread is over 2 years old. Also, I love how this certified financier has the extremely professional email of johnharry098@gmail.com :P