Bitcoin Forum

Hello BTCtalk.

I am looking for a 3 BTC (Around 600$) loan.

The BTC will be used for some mining equiptment.
I am going to buy used mining equiptment from the forum.
Everything that is earned from the miners will go to you untill the loan is repaid with intrest.

Collateral: My BTCtalk account, 2 Counter Strike Complete Pack keys (Value is around 10$ each)
I also offer my steam account. It has 2 vac bans. The bans are on CoD MW2 and MW3.
http://steamcommunity.com/profiles/76561197995533351 (Value link https://steamdb.info/calculator/76561197995533351/ )

I really hope that someone here wants to help out.

Thank you very much.

If you have any questions, then you are more than welcome to ask.

The money I am lending will be lent as 600$ not 3 BTC.
That means if the price of BTC goes down to 100$ you get 6 BTC instead, if it goes up you get the same as 600$.


~Hamuki

3 BTC is a huge amount. Not sure your collateral will be enough to find someone ready to loan you..

Hmm :/

Well, I can do full verification of identity if its requested from someone who is interrested in helping out :)

When are you gonna pay back? I can give part loan, but 3 BTC sounds too much for this collateral. You got any altcoins?

That's a huge amount mate to loan mate , Most of loaners give like 1 BTC maximum as loan . Your account is about 0.45 BTC worth looking at the digital goods section where people sell accounts . and by the way the Counter strike : Complete Package worth of 29.99$ each on Steam and not 10$ .=> http://store.steampowered.com/sub/54030/

~ Madness

Hmm.. Well, 10$ is like what it goes for here on the forum.

Ill update the thread and ill add my Steam account also.
It should add a little value too :)

Maybe you should because the amount of collateral in comparison to the amount u want to low is of balance  ;)

I have no altcoins.

All I can offer is above. (Added steam account)

The loan will be payed back over time.
Around 3 months +-

With what I mine and maybe I can add some extra on top.

This is for mining equiptment.

Sorry man, I am out then.

One idea would be to give the lender some kind of down payment, have the lender buy the equipment and have it shipped to their house then any mining revenue (minus an agreed upon "hosting fee") would go towards the loan. Then once the loan is paid off he would ship the miner to you.

You would need to both very much trust the lender and probably borrow from someone in your country.

It is generally best to having mining loans denominated in Bitcoin because that is how you make money.

The amount of your collateral is not worth 20% of the amount you are asking for so I would be surprised if you were to get the loan you are asking for.

You didnt get the point, your collateral isnt worth the loan you are asking for.

yaa true!! Can give 0.5 BTC loan for that collateral

Good that you're offering collateral but the purpose of collateral is that if you default on the loan the lender can recover his loss.
You can't expect a $600 loan of you're only offering something worth $80 max...

To remove any element of risk, it would probably be best for the lender to simply buy the mining equipment himself, then mine out 3 BTC plus whatever interest the OP would have paid. After that, the lender simply sends OP the mining equipment, done deal. No risk of either party getting scammed.

He sends it to the OP for free? If he were to do this why wouldn't he sell it?

In this case the lender would be taking on market risk as the miners not make that much profit.

yeah, it's not an ideal situation according to the fact mining ROI has become harder

Exactly. And this is why the idea of loans for mining equipment is absurd.

Check out this (https://bitcointalk.org/index.php?topic=953248.msg10437040#msg10437040) post. It would involve the risk that the borrower get scammed, but you are right lending money for mining equipment is very high risk, really just as risky as a no collateral loan.