Print Page - Looking for 5 BTC loan. Expanding farm. Have collateral.

The real questions is why? Yes, I could fund your mining farm but why don't you provide collateral. Your promise to pay me back interest on a set time frame over a specific time frame doesn't give me the incentive to fund your project. Why not fund my own mining rig and keep all the profits and funding yours without Collateral other than your promise to pay me back?

Quote from: w00tcoin on April 06, 2014, 12:08:16 AM

I am looking to expand my farm and noticed there is a lending section here.

I want to buy some AntMiners (I have one and fell in love) and if there is someone who could loan me some BTC so I could buy some from ...

http://minersource.net/collections/frontpage/products/bitmain-s1-dual-blade-180gh-400w-asic-miner

^^^ They have them for a little over 1 BTC per unit.

Each machine will mine about half a BTC per month - so I am looking at a pay back rate of about 10 weeks tops. Below is the calculator I used to get there. Correct me if I am wrong, please.

http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=200&p=500.00&pc=0.10&pf=0.00&d=6119726089.12815000&r=25.00000000&er=467.00200000&hc=0.00

I am willing to do daily, weekly, bi-weekly, monthly or whatever payback method you want.

Obviously I would use the rigs to mine coins and pay you back with those. With an agreed upon interest rate.

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I see people in other threads offering collateral.

I have a decent farm now - see my sig. Not huge but worth I would say at least 10 BTC.

I could catalog what I have to any interested lenders.

I will take 1, 2, 3, 4 or 5 BTC loans and pay them back (I estimate) within 10 weeks (then whatever your interest rate is).

Thanks.

w00t!

So you're willing to ship your farm as collateral, pay the loan back with the profit from the new mining equipment and then repay the loan to get your old equipment back? Why not wait until you mine enough for new equipment so you don't have to pay interest and the shipping costs?

Bitcoin Forum

Economy => Lending => Topic started by: w00tcoin on April 06, 2014, 12:08:16 AM