Bitcoin Forum

Overview:

I am offering short-term loans of 0.04 to 0.3 BTC to other Australians, without the requirement of collateral.

Funding:

Funding will be processed within 2 hours of verification being completed.

Repayment:

Repayments are to be made to 16KYZdRbJ85xJKUhjx88hFTW4PBba8E7Sd
Part-payments are not accepted.

Application Process:

1. Post in this thread:


2. If you are a NEW borrower, you need to verify your name and address so I can confirm you're Australian.

Option 1 - quick verification (2-12hrs)

Option 2 - mail verification (24-48hrs)
Your details will be verified against the Australian Electoral Role, which is public information.

Option 3 - in person (variable)

Loan Options:

Loans are available between 1 and 30 days.

5% of the principle amount + 24%p.a. interest, calculated daily.

e.g. 0.04 BTC loan over 7 days requires a repayment of 0.0422 BTC (principle & interest).

My details:

Exempt from an Australian credit licence under RG:203 s6(1).
All credit is provided by myself, a natural person, in New South Wales, Australia.

Acting as a legally registered business in NSW, Australia: ABN 76 746 836 598 (http://abr.business.gov.au/SearchByAbn.aspx?abn=76746836598)


Do you really need a loan today?

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems. Check your options before you borrow:


This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

I just provided you with a loan. I didn't expect you to provide loans not long thereafter.

Sensitive information (shown below) should be held by a 3rd party escrow (monbux, devthedev or escrow.ms to name a few)

Additionally, 42% interest on a 2 week loan is quite a large amount.

And you took 9 hours to fund the loan after collecting the collateral, get off your high horse.

1. It's the weekend, I have 2 BTC pending in an exchange that will be processed Monday (about 18 hours from now).

2. As for 'sensitive information', it's up to the borrower to disclose. If I'm risking $100 without collateral, I reserve the right to know whom I am lending money.

3. I believe the free market gets to dictate the price, not your opinion.

Personal info like that can be worth easily more than $100 in the wrong hands. Don't be silly people...

Rather than sending these details in a Private Message, I will happily accept an email to my work email address.

I work for one of Australia's big banks. I'm not going to risk my job and prison time for $100.

Nah, information like that is sold in bulk for like $0.01. I wouldn't worry about it if I didn't care about privacy and a relative level of anonymity, but I do care, so I sure as hell wouldn't be sending someone on here that sort of information.

We don't know that you actually work for one of Australia's biggest banks. If you PM all your information to a trusted member, I'm sure they'd be able to confirm what you're saying, though.

Loan amount requested: 0.06 BTC
Proposed loan length: 15 days
Purpose of the loan: ISP Bill Payment
Funding option: Bitcoins.
BTC address = 134S3Hbb2xHHjS4kRRoxWYcqVdUCA1jZty

Sending bank account details name and email must be worth more than 1 cent surely. This is very dodgy in my opinion since the owner wants the details and appears to refuse to escrow.

Done and agreed. Any suggestions of whom can mediate?

I'd prefer each borrower to take their due diligence regardless what a trusted member says, however I'll play ball because I think this is important as well.


If I was that desperate, I would just pull the details off the bank system that I have full access to. An Australian account number isn't worth anything, is generally treated as unclassified information and posted on public websites. You can keep your opinion to yourself since it's unwarranted.

Meh, not really. Maybe because it's a bitcoin user and you could theoretically hack or phish with the email address and gain access to bitcoins (though that seems kind of unlikely, considering the financial status of people requesting loans), but not much you can do with just an account number and a person's information. If he works for the bank it's already all at his disposal anyway.



Anyone, really. Preferably someone who uses PGP commonly so you can encrypt your personal information. Maybe devdevdev because he has a thread in this section?

Declined. Your bitjam (https://btcjam.com/users/37861) profile indicates you reside in India.

Better getting a loan from the mafia lol ;D

You still have no way to confirm the name and other info is correct. And what will you do in the case of default? Sue for a few dollars? Not likely as it will cost more than the loan.
Sending your DOX to an unknown on the internet is nuts.

You sir don't understand what personal information is accessible in Australia. I am able to confirm the name is correct from the account number with any bank, it is the only information a bank is allowed to provide anonymously.

Are people really that scared by a genuine offer of lending without collateral? What, am I shaking up the market or something?

I've updated the interest and charges to fully comply with Australian credit legislation.

And you sir think you are smarter than the scammers, you are not. They have thought every angle and are 2 steps ahead of you.
You confirmed a NAME not the IDENTITY. If you do this for a living you should know better.

If you provide me with more information about your job etc I'll take a loan of $100 in BTC, providing you the info you request.

Loan amount requested: 0.22 BTC
Proposed loan length: 7 days
Purpose of the loan: Filling a trade request
Funding option: BTC

Approved if you are happy to email your private details to my work address directly, as requested.
You can call the bank's general number and request to be transferred to myself if you want confirmation before releasing your details.

Principle: 0.22 BTC
Loan fee: 0.011 BTC
Interest on 7 days: 0.00101260274 BTC
Total repayment amount: 0.2320126027 BTC.

I also act as a registered sole trader, ABN 76 746 836 598, if you would like to verify my details before tomorrow.

Provide me with your work email and I'm happy to forward details

You could have declined my loan if you believe I took too long. I clearly stated it would take me a few hours once you sent through.

Of course free market gets to dictate the price, and that price is much less than 42% from what you can pickup throughout this board.

Sent a PM with my work details, including email and staff number, if you would like to call me tomorrow.

False. I sent through 44,000 Doge, then you replied it would take 6 hours for you to fund the loan AFTER the fact. It took you closer to 9 hours. I'm not complaining, just don't tell me how to run my business when your own is sloppy.

As for the interest rate, I have adjusted the rate to comply with Australian legislation. I think I've just undercut everyone else on the board, actually.

I've forwarded the requested details to the work email provided in Private Message.

Not really necessary to call as I can verify by the email that it's linked to one of the big banks.

Thanks mate, I'll email you back tomorrow to proceed :D

Please show me what this legislation states, honestly, I'm curious. You haven't undercut most of the lenders on here including haploid23, myself and s1lverbox.

Page 46 of http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg203-published-29-May-2013.pdf/$file/rg203-published-29-May-2013.pdf - it only applies within Australia.

A 7 day loan of $100 from me accrues $0.46 interest plus $5.

5.46% interest for 7 days, right? I'm just trying to help people out here.

But you said you were charging 42%?

So, if someone doesn't pay back, what are you going to do? Considering you work at their bank, I figure you can pretty much do whatever you want. Ding their credit report, take money out of their account, etc. What are they going to say? "I scammed someone online so I could get more bitcoins, but now he's taking back the money I scammed!"

or just say they're missing money from their account and act like they never heard of bitcoin

btw

this sounds too fishy, I would recommend to stay away from this

No, that would be fraud and prison time for me. You guys need to get a grip. Having someone's contact details mean I can send letters of demand and proceed legal proceedings if I so wish.



Not possible. I'm not a teller and I can't debit accounts. Even if I could, I would be liable for not having a debit voucher for the withdrawal, fool. Again, fraud and prison time.

No one is asking you to borrow money from me.

Also, you fail to recognise I'm a legally registered business in Australia. I will happily send anyone in Australia a cheque for $1 at no charge to prove I am who I say I am.

You Americans clearly have no idea how things work here, so your comments are just ridiculous. The entire world is NOT America, and the sooner you accept that, the better.

1L79D4LdeSEvFLBwNHf4z22cZCsXio3Fjc

Received email confirmation from him, all seems A-okay.

Providing the designated address above for deposit.

Principle: 0.22 BTC
Loan fee: 0.011 BTC
Interest on 7 days: 0.00101260274 BTC
Total repayment amount: 0.2320126027 BTC.

Agreeing to these terms above, paying back on the 6/10/2014 or plausibly earlier of the total repayment amount of 0.2320126027 BTC

Loan funded :)

Received, thanks

Fair call. It's my money and I won't hand it over to someone who needs to remain anonymous. I hate to burst your bubble, however your full name and address is public information since it's on the electoral role, which is available for public inspection.

If you don't want to provide me with your account details, I will offer to either:
1. Post you a $1 cheque in the mail, once it has been drawn I will consider you 'verified'.
2. I can meet you in person in Sydney CBD during the week.

Over to you, Mr Anonymous.

Thanks Mate for providing me a loan.

0.06 Amount Received.

I Will Repay the loan within 15-20 days Max.

I've updated the verification requirements, to provide 2 options of not providing a bank account number.

For those overseas that are not aware, the name and address of Australian citizens are public information and are publicly available on the Australian electoral commission role. This information is not private. It is also mandatory to vote in Australia, so all citizens are on the role.

Of course, send through your details and I'll initiate the verification.

Anytime mate :)

Still limited to Australia?
Not asking for me btw.

Just for the moment while I build some street cred. I'm trying to find ways where both parties are comfortable. I know it's the rage on these forums but I don't believe in secured lending for $20.

Repaying this slightly earlier, stock has sold quicker,  I'll have this paid in 24 hours, will post when confirmed!

You're awesome Nellyx! Repayment address is in the original post :)

Please continue in this thread:

https://bitcointalk.org/index.php?topic=807718.0