Bitcoin Forum

I locked in a deal on some GPUs and I am 100 BTC short.  Dwolla is going to take 3 days to fund and I would rather lock this up right now.  It seems silly to transfer fiat knowing that in 2 weeks I would have the funds generated by mining anyways.

I would like to arrange a loan of 100 BTC where I direct the output of my hashing power to a repayment address until repaid in full.

I have ~9.5GH/s online so that should be repaid in ~ 2 weeks.  Actual repayment may vary slightly based on luck.  I would prefer to use my current pool (Bitminter) as I trust the operator.  I use ABC Pool as a backup.  I will setup your repayment address there too.  If you want an alternate pool we can arrange that.

I feel this is a relatively low risk/stress loan as repayment begins immediately.  Just to be absolutely clear.  This isn't a mining contract per say.  The amount repaid is fixed and the amount of times varies (where in mining contract time is fixed and repayment varies).

Just let me know the amount you wish to be repaid (i.e. if you want 3% interest it would be 103 BTC paid in full).  
Remember repayment is continual, will take roughly 2 weeks, and may vary slightly in length (but not amount) due to downtime & luck.

I will do it for 110.  Is that agreeable?

Aww burt you beat me again!  ;D

If it's ok to bid on this, I will do it for 105 BTC. I only have 50 BTC on hand, so you'll have to wait a few hours for me to transfer from my Dwolla balance to MtGox and buy the other 50.

OK my bid is all 100, right now, for 105. Going once...

I can do this 100 BTC right now for 103 BTC payable in 2 weeks time, just straight BTC transfer to me or a Mt.Gox code - I don't mine as yet so gradual repayment isn't necessary though you can send it in chunks every few days if you like np

Sold.  I sent you a PM.

I will repay in chunks.  Should be ~7 BTC per day.  103 BTC in full.  Repayment in roughly 2 weeks (should be slightly less but could be a day more due to variance).

OK - I go check the PM & send now

your lucky, lending huge amounts, if I had that much BTC i would lend for 0% interest :) and I would win the bid.

not necessarily, I may just decide to see your 0% & raise you by lending at -1%  ;)

hmm, true :)

received my first repayment chunk today  :), will report again in a couple of weeks when full bal due paid  ;D

as a side note we found out that if you send BTC from your Mt.Gox account they don't actually enter the block chain if the receiving address is another Mt.Gox one, it's just handled internally like a Mt.Gox BTC code, maybe that quick too

A fantastic experience! There was a little variance as expected & so D&T switched to 0.22 BTC per day interest & we agreed to run the repayments a few days longer, 100 BTC repaid in full plus 4.18 BTC interest received, D&T's comms were excellent, a very smooth first loan experience for me, most encouraging & I hope that D&T will consider me as a potential funder for any future ventures, recommended 100%  :)

It was good experience working with Otoh.  Hit the worst run of bad luck mining.  Last 9 blocks took 26.4 million shares vs avg of 12.4 million.  That cut cashflow in half.  I had hedged a little as I actually have 11 GH/s of hashing power but based repayment on 9GH/s, but it didn't matter.  50% reduction in blocks over week long period is brutal.

Prompt communication, and periodic repayment helped.  Otoh was very understanding and we reached what I agree was a mutually beneficial arrangement.

I would recommend Otoh as a low stress lender and will keep him in mind if I need to borrow again.