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Title: [CLOSED] Looking for a 30 BTC loan - Repay 35 in 2 weeks Post by: Distribution on April 08, 2011, 10:03:33 PM Anyone interested in loaning me some Bitcoins?
Title: Re: Looking for a 30 BTC loan - Repay 35 in 2 weeks Post by: cdhowie on April 08, 2011, 10:15:59 PM Anyone interested in loaning me some Bitcoins? I might if I knew what it was for. I'd have to be able to assess the risk. ;) Title: Re: Looking for a 30 BTC loan - Repay 35 in 2 weeks Post by: Distribution on April 08, 2011, 10:30:18 PM Anyone interested in loaning me some Bitcoins? I might if I knew what it was for. I'd have to be able to assess the risk. ;) It's for a time sensitive purchase. I'm mining in a pool receiving 2-3 BTC a day (which is plenty enough to have the payment in 14 days). I also have a dedicated mining rig on the way in which will be installed my spare 5830 (so another 2-3 BTC/day). My average has been 2.38 BTC/day in the pool http://www.bitcoinpool.com/user.php?u=Distribution (http://www.bitcoinpool.com/user.php?u=Distribution). However, that includes the couple of days the pool was attacked and I had to mine in other pools. It also includes the two days that I OC'd my GPU too much and it crashed. If it came down to it, I would make sure I have the BTC through a cash purchase. EDIT: Congratulations on your Daily Bitcoin win by the way. Title: Re: Looking for a 30 BTC loan - Repay 35 in 2 weeks Post by: cdhowie on April 08, 2011, 10:38:34 PM It's for a time sensitive purchase. I'm mining in a pool receiving 2-3 BTC a day (which is plenty enough to have the payment in 14 days). I also have a dedicated mining rig on the way in which will be installed my spare 5830 (so another 2-3 BTC/day). My average has been 2.38 BTC/day in the pool http://www.bitcoinpool.com/user.php?u=Distribution (http://www.bitcoinpool.com/user.php?u=Distribution). However, that includes the couple of days the pool was attacked and I had to mine in other pools. It also includes the two days that I OC'd my GPU too much and it crashed. If it came down to it, I would make sure I have the BTC through a cash purchase. Ok, I think I'll accept; PM me the address you will receive at. If you are willing, would you mind repaying a bit over time from your mining activity instead of all at once after two weeks? If I see a little bit coming in every few days I'll be more comfortable. :) Not trying to question your intentions or anything like that, this is just my first such loan and I want it all to go smoothly. Title: Re: Looking for a 30 BTC loan - Repay 35 in 2 weeks Post by: MoonShadow on April 08, 2011, 10:46:04 PM That was quick.
Pity, I would have loaned that much, to a forum member with your history, for 32 bitcoins in two weeks. 5 bitcoins interest is about 16% in two weeks, or an APR over 400%, roughly ten times the inflation rate. Even 2 bitcoin would have been a harsh rate of about 6% in two weeks, or over 150% APR. We need a bitcoin version of Prosper.com for a short term bitcoin credit market, as it seems we really are approaching the point that is viable. Title: Re: Looking for a 30 BTC loan - Repay 35 in 2 weeks Post by: Distribution on April 09, 2011, 01:56:06 AM It's for a time sensitive purchase. I'm mining in a pool receiving 2-3 BTC a day (which is plenty enough to have the payment in 14 days). I also have a dedicated mining rig on the way in which will be installed my spare 5830 (so another 2-3 BTC/day). My average has been 2.38 BTC/day in the pool http://www.bitcoinpool.com/user.php?u=Distribution (http://www.bitcoinpool.com/user.php?u=Distribution). However, that includes the couple of days the pool was attacked and I had to mine in other pools. It also includes the two days that I OC'd my GPU too much and it crashed. If it came down to it, I would make sure I have the BTC through a cash purchase. Ok, I think I'll accept; PM me the address you will receive at. If you are willing, would you mind repaying a bit over time from your mining activity instead of all at once after two weeks? If I see a little bit coming in every few days I'll be more comfortable. :) Not trying to question your intentions or anything like that, this is just my first such loan and I want it all to go smoothly. How about this: I'll pay you 2 BTC with the option to pay it off in one week (on the 7th day) at 33 BTC. After that, if I don't take the 33 BTC option, I will continue paying the 2 BTC a day with the remainder of the 35 at the end. Or if you would rather just take the 35, I could do like 1 BTC a day with the remainder being paid off on the last day. I just wouldn't feel comfortable promising an equal share daily. That was quick. Pity, I would have loaned that much, to a forum member with your history, for 32 bitcoins in two weeks. 5 bitcoins interest is about 16% in two weeks, or an APR over 400%, roughly ten times the inflation rate. Even 2 bitcoin would have been a harsh rate of about 6% in two weeks, or over 150% APR. We need a bitcoin version of Prosper.com for a short term bitcoin credit market, as it seems we really are approaching the point that is viable. I knew it was high, but I wasn't sure at what price someone would loan to me. I may be a fairly well established forum member, but I have no trust history. |