Bitcoin Forum

Introduction:
I am seeking a loan to purchase another two R9 280x GPUs as well as additional hardware to run these GPUs.
Additional hardware includes:  Risers and Mining Case

I currently have 12,700kh/s in dedicated mining hardware at my disposal which is rented out on Betarigs:
https://www.betarigs.com/rig/2810

This will allow me to repay this loan within a thirty day period.

History of Loans:
https://bitcointalk.org/index.php?topic=433194.0
https://bitcointalk.org/index.php?topic=500172.0
https://bitcointalk.org/index.php?topic=524240.0

All these loans have been repaid without the use of collateral.  With over BTC4.25 [if my numbers are right] in loans repaid over the past three months, I have a good record of repayments.

Loan Information:
The loan can be from multiple users, so if you are not up for lending BTC.5, BTC.75, BTC1, smaller amounts are acceptable.  I am interested in procuring at least BTC1.5.  It will be repaid within 30days of the funds clearing, at the latest.  Due to my history here, I would like to keep the interest rate reasonable.  5% for a monthly period.  While it is very likely the loan would be repaid early by at least a week, you are still paid the full 5% on top of your initial investment.


As always, offers are greatly appreciated. 

Sent 0.5BTC @5% for 10 days. Transaction ID: d727ace615be933c6f7195a36cc39bb90cd9c0a089b0b81f9a204c6211ebca68-000

Repay address: 1JpLUMxpqwKdZtidw3Av214EacRjcbSd4n

I can send you 1btc to the same address you were in control of last time (16LQDrFrbsKTNpB3N6Q9xG23ZRY3dCMezk).

Repayment of 1.05 by May 7th?

Let me know if this suits.

With KWH's loan being on such a short term-length, I believe May 7th might be cutting it a bit close.
I'll run some numbers to ensure I would be able to repay on time.  Will reply in a few hours.

 :)

Okay.  After running some figures I feel that if all maintains for the next three weeks,
your loan would be covered, Howzar.  Send payment when you are ready.

Note to investors:
While current figures show me being able to repay both of these loans on time, I would like to have a note here
regarding if something would for whatever reason delay payment.  If something like a large amount of hardware fails
or similar, then that may cause need for an extension.

If for whatever reason I do become late on a loan, I would like to pay additional interest at the rate of 3% compounded weekly.
How does this sound? As usual, I will post updates in this thread regarding the loans so lenders are not in the dark.


Thanks again.

That's agreeable, keep us posted.

Great, will send 1 btc ASAP. :)

Thanks.  Let me know when I should expect to see the Bitcoin sent.  :)

Just confirm that I can send 1btc to: 16LQDrFrbsKTNpB3N6Q9xG23ZRY3dCMezk

Yes, that address is fine. :)

Confirmed:  I have received BTC.5 from KWH and BTC1.0 from Howzar.

Question for current and future lenders:
I plan to continue receiving loans for various purposes here on BitcoinTalk,
so I thought I should ask lenders and see if updates are preferred.  Updates
entailing usage of funds, status of repayment, and things of that nature.

If such information is appreciated, how often should information be updated?

 :)

The question is why?

Are you terrible at handling money?
Are you looking to build trust just to pull a big scam?

Why do you want to keep paying interest? 

Interest is not a huge issue for me honestly, as 5% for two week
periods isn't terrible.  Not optimal, but hardly a detriment.  

Trust for a scam is irrelevant.  Look at StackCoin and EdgeCoin, you hardly
need trust to pull a big scam in BTC.  If my goal was to scam users, it would
have made more sense to just skip town on my loan from Whirlpool for 1BTC back when
BTC was around $800.  Or I wouldn't have paid Anixs' 50% upon receiving the three R9 290X GPUs:
https://bitcointalk.org/index.php?topic=500338.msg5626026#msg5626026

The reason is I continue expansion and various areas of work in regards to cryptocurrency is
that simply requires more funding.  I could allow my Mining Rigs to produce enough for expansion,
but that is less profitable than getting hardware a month early [by lender funds] which is fully covered plus
interest easily in obtaining hardware earlier.

Vod, I've been here for a while, not as long as you of course, but I have been reliable in all my dealings in this lending board.
All payments have been made, even though all loans are made without any collateral.  I am making the offer to even give
lenders updates to increase transparency on my part if that is what they wish. Would you prefer reliable lendees leave?  

I initially was here as a lender which worked out for the most part.  Ultimately though I realized it is more beneficial for
me to utilize funds [be they my own or lender's] because I can do more than what people are paying in interest.

Let me know if you have any further questions or if I can better accommodate lenders here on BitcoinTalk.
And if you're ever interested in earning 5%+ monthly on your funds, feel free to make a loan offer.  

Truly,
GBattaglia   ;D

All loans are on track for repayment.  The two additional R9 280x GPUs have been ordered,
as well as the mining frame. Offers are sent in for the three USB risers as well. 

An additional loan set is planned to be requested on the 10th of May which
will fund an additional expansion of 3MH/s worth of equipment in Gridseed miners.

Yes please, updates would be great! Every 3 days I think sounds right and if nothing new has come up just leave a note saying no news.

Thanks!

The two R9 280x GPUs were recieved today, but without the risers or frame I can't quite utilize them just yet.
I think I'll have the risers by Monday and will be able to have them functioning despite the frame still awaiting
shipment.  

KWH, I anticipate to have your loan repaid in full early.  Current estimates show that the 27th is the most likely date for
repayment.

Howzar, right now with the price of mining rentals falling my current estimates show I may be a few days behind on payment.
Market situation might turn around and allow for ontime repayment, but I'm not positive just yet.  Getting the additional hardware
that has just come in online may also make up for the price decrease in mining rates.  If I do not have the full amount
come due date I will repay partially and get the remaining funds to you as soon as possible [with the interest terms discussed earlier still applying].

Finally, I am still looking to take on a second loan set for an expansion of 3MH/s+ being added to my current operations as soon as these loans are repaid.


Thanks again, and I'll keep everyone posted.

Thank you for the update, I won't mind if you do partial payments in several transactions. Whatever suits you.

Sounds good.

I would be interested in loaning you at least 0.5 when these loans are repaid

Likewise, I'd be prepared to loan a similar amount to you.

I would be happy to work something out with all reasonable and willing investors/lenders once my loans from
Howzar and KWH are repaid.  KWH's loan is scheduled to be repaid tonight or tomorrow depending on BetaRigs
clearing rental payment.  Howzar's loan is scheduled to be repaid on the 7th, although terms have been discussed if late
by a few days.

Thank you again to all the lenders on BitcoinTalk who have invested in my work.   :)


Regards,
Gabriel Battaglia

[Loan from KWH Repaid]
Amount: .525 BTC
Record: http://blockchain.info/tx-index/872c368a3dbb6416b116883db022a6c0aaab09a2ba98a7a6eb51d0db095af431

Confirmed. Thanks and look to loan to you again.

Thanks, KWH.   :)

I have began using my primary desktop alongside my current units to increase
hashrate a little more.  You can view the farm rental statistics and status here:
https://www.betarigs.com/rig/2810

I've sent in a purchase on Coinbase for additional BTC at this point in time, which
will allow my loan to Howzar to be repaid on time regardless of rental valuation dropping.
Due to Bitcoin's $50 drop in value since the beginning of the loan, this ultimately isn't a loss.

Still awaiting the risers and frame to arrive from this loan set, although I'm expecting them by within
the next two weeks.  All is still on track for the next loan set requests in which I will be accepting more
lenders offers.  My estimates point to that being between May 7th and 10th.


Thanks again.



Regards,
Gabriel C Battaglia

Thanks for the update!

Update:
Risers arrived today.  Currently running on a box and wooden surface, frame should arrive in the next few days.
The additional hardware has been added to the Betarigs rental farm, which can as always be viewed here:
https://www.betarigs.com/rig/2810

As you can see, the hashrate out for rental has now increased to 14,300KH/s.  This number may fluctuate a bit while
I optimize and recalculate the total hashrate of all units together.  It is also becoming noted that Scrypt-N [Adaptive N-Factor]
is slowly becoming more profitable.  It may not be enough to justify moving all units over yet, but it is of course a route I may take.
Just a note. 

I'm still awaiting Coinbase to transfer the .5BTC to my account.  Currently .2BTC is occupying low price buy orders on a NobleCoin exchange.
Still on track for repayment on May 7th by my estimates.  After which the second loan set will be evaluated with all lenders and investors.

I might be able to lend a bit, will think it through.

Hey, do you still need it? I have 0.4 that I can lend to you

He will only accept loans after they are repaid...

Yes, that is correct.  Thanks for responding to him regarding that.

Update:
Coinbase purchase of BTC.5 went through today. Taking into account Swisscex BTC and NOBL funds, and
my BTC wallet; I have roughly BTC.88, which puts me on track for repayment of Howzar's loan.  

Currently I average between BTC.07-BTC.082 a day in mining revenue. I am working to ensure I am getting the
best rates from renters while limiting the amount of time units are not rented. Currently I anticipate to have the loan
repaid by May 6th.  From there further loans will be assessed.  
End Update


Regards,
Gabriel Cole Battaglia

Great thanks so much!

[Loan from Howzar Repaid]
Amount: 1.05 BTC
Record: http://blockchain.info/tx-index/e6aa505dfc62a1148ef70c8fa1ef705936f8cce02c5ecf0ec1dbdf0e2df17d8d
End Confirmation

I will begin evaluating expansion from here today and will be open to lending offers once more.  I anticipate that I will be in the position to accept loans after a few days of evaluation and reviewing the amount of interested investors here. 

I would like to lend you 0.5 btc, so 0.525 to be repaid after 30 days.

I am willing to send you 1btc straight back right now for the same rates however maybe a shorter term? Let me know

Oh and its confirmed!!

Thank you for your offers guys.  Once offers are made I will group them and start a new thread keeping track of all them
in a clear and concise manner for public record and you guys.  I anticipate enough offers will be made by the 7th to move ahead by then.
Right now I'm looking to purchase a few Gridseed units [already have a seller and set in mind at a good price], pay a bill, and make a no-interest
loan payment to a family member [this is disclosed for transparency and honesty purposes here].

All this together leaves me looking at a total loan set [this is the funds from all lenders] totaling around 2.25BTC.
I'd like to stick with the current 5%/month rate as of late, and I feel it is a fair rate for lenders.  Some lenders have mentioned
shorter run-times which I'd be fine with as I do get the funds back incrementally from mining/rentals, but that means some lenders
wouldn't be paid back in the same time frame as others, which I'm unsure how some lenders feel about.  It would of course be within the
initial loan period though.

If people would like shorter periods that can be discussed, or I can do one month run periods with increments paid out to investors weekly.
Let me know guys. 

I can do 0.5BTC for 30 days at 5%.

For me it would be fine if you paid me back after one month.

Now, another thing, what happens if you are late with the payment?
I wouldn't mind giving you a few days extra (3 days for example), but after that interest should be added.

While being late is highly unlikely [more likely to be repaid early, you'll still get the interest amount], lenders are given
3% on initial amount compounded weekly. I feel that is rather high, but is fair for any inconvenience I may cause an investor,
and it presses me to have all loans paid back on time or early.

Ok, that seems more than fair.
Thanks

I'd be interested in your offer if it is legitimate.
:)

How do you think this will not be legit? Im sending my BTC to you not the other way around. And my trust feedback should be enough to say the least.

Legitimate as in if you were willing to follow through, not legitimate as in not a scam.  Anyways let me know if the offer still stands and I'll gladly work something out
and consolidate it with the other loans already processed. 

Offer still stand. If you choose smaller amount please let me know.

Thank you for your offer.  If these terms are acceptable, please send payment.  

Terms:
Amount: 1.5BTC
Term: 1 Month
Interest: 5% for 30 Days, 3% compounded each week late
Payment Address: 1PPJTo4VqA6Un17ZDKnU4RCKHesj1YZh1T
End Terms

Please post your address for repayment as well.   :)


@Scam accusations
If I had no intent of repaying, why would I take less than is being offered on this loan anyways?
Again, my behavior would be completely illogical if my goal was to scam users.

Does other loans has been repaid fully?

He has, you can check it on this thread:
https://bitcointalk.org/index.php?topic=576173.0

This thread was created after those loans were repaid

This makes little sense.

You're saying a scammer will only take the maximum possible?  He/she won't try for a lower amount for the better chance of acceptance?

If it is already being offered at the full amount and made out to be a legitimate offer, a scammer would take the maximum amount as it was already offered. At least, that would be the logical thing to do. 

Maybe, yes.  But you can't say taking less proves you aren't a scammer.   ;)

Got me there, Vod.  ;) 

Didn't say it was proof, just said it is seems a little illogical.  Granted there are probably illogical/stupid scammers as well.  :P

Fixed that for you.

My current lenders may view status updates on this thread here:
https://bitcointalk.org/index.php?topic=603607.0