Bitcoin Forum

Hi, I'm going to get a trading bot for Cryptsy. My Cryptsy account is verified, but I'll be trading in volatile coins so as to maximize earnings, although the risk will increase. Most likely, I will trade ReddCoin or Dogecoin. Maybe Darkcoin.

I just need 0.3 BTC - 0.15 for the purchase of the bot and 0.15 for investment. PM me for more info.

Collateral? Hmm.

I can offer...

- A Minecraft account
- (Singapore ONLY) MacBook Air 2012

Collateral: Something with a value equal to or superior to the value of the loan, that can be liquidated easily for said value.

A minecraft account cannot be sold, it can be easily recovered, so it's not collateral.
I don't think there is an escrow in Singapore, so no, that isn't collateral either, if you can't ship it.
It doesn't look like you will get the loan.

for new members I think it would be very difficult to get a loan for the

As long as it is the escrow agent's hands, yes.

OK, I know Im new to this site, but been trading bitcoins for a long time,  but never gave a loan to anyone.  I wouldn't mind lending this but only with solid insurance I get paid back.  Can some of the other members, (not the op) tell me the safest way, if at all, to do that....?

Make him provide collateral. Read the stickies in this section. That's like the only way, unless he has a lot of trust. But he doesn't, so collateral is the key.

jpoker272727, you are new as well and should not be asking to hold any collateral. Instead, look for a trusted member to hold any items.

Contact the OP, and agree on a contract, i.e what he's going to give you as collateral and what you are lending him in return. Contact a trusted third party which is agreed on between both parties to hold the collateral. When the third party receives the collateral they will notify you and then you can go ahead and send the money to the OP.

There are a number of people you can contact to be your escrow.

I sent him a message pretty much repeating what was said here.  That I would lend the 0.3, but would need to know when I will be paid back, at what interest I will get, and if a independent third party accepts suitable collateral to fit the value of loan.

Maybe Im "in over my head" but It would be nice to sit back and earn interest on some coins.  But I understand that I am naive to the risk involved, so we'll see if he responds.

Macbook air 2012, seems like a good deal, I'll do it xD

I am available to escrow this for anyone interested. I'm located in Singapore and can probably meet up with OP at a MRT station. I might just do this myself though.

your minecraft is not considered a good form of collateral

Heck, I'm not selling it. Collateral.

I also won't ship anywhere else, so you gottabe in Singapore. If no one can give me a loan, I'll hop on down to thr BTC ATM instead.

Cheers anyways :)

What's the condition and how much are you repaying?

The laptop seems to be enticing some people and I hope for ops sake he doesnt meet up with some one in a dicey location.
Be safe out there folks,both sides of this transaction.

OP didn't seem to reply to my message. Oh well, guess he doesn't need the loan after all.