Bitcoin Forum

I am interested in the 60 Giga hash unit, that retails for about $1299.
In Bitcoin conversion that would mount to about 91.61 BTC.
And with fees, I would look for a 95 BTC loan.

Advantages of this loan is if BFL defaults or it turns out to be a scam,
I'll refund you 1/3 of the loan amount, with no interest.

Once the miner is received it will mine into I have achieve a 20% profit,
which is 114 BTC, and then you will be sent that amount.
Do note that the agreement of pricing is set on the minute and of the same day
that you wish to send me the bitcoins.

I have already two Asic miners, and was interested in inquiring more power.
I could point two of my other asic miners to help pay down the loan faster.
At my discretion, but the one that has been loaned out will mine until
it payed itself off with interest, do note if the units have break down,
the terms will be halted until BFL replaces, etc. and I get them back,
then from there the payment will be completed.

How on earth is that an advantage?

Well its insurance I guess.
If you buy BFL, and they turn out to be a switch and bait,
instead of getting 0% of $1299, you get 1/3 back as refund.

But you still get 20% interest,
and I deal will all the hassles.

Also to account I charge no electricity, and its free.
Even if its small, well there's a bonus there.

Compared to banking of 5 year lock in term for as low as 1.5% interest.
20% is the highest in real life interest for a loan you will ever be offered.
And pay back time may be as quick as 9 months or so, so in reality its even higher.

Ummm, you should pay pay the $1299 regardless if BFL is a scam or not.  You're basically asking for other people to take all the risk with no reward.

Or in other words you already have a payed order with BFL, believe that they are scam and are looking now for some idiot who gives you your money back (66%). In case they are no fake and actually deliver, it only costs you 20%.

so 20% reward for 66% of the risk... AWESOME

Good luck finding such a "smart" person.

Edit: Lets assume a 50:50 chance that BFL actually deliver (which is pretty high according to my opinion), you would still have to offer 200% of the money to make this a fair deal for 66% of the risk...

So if it's not a scam, you send me the equipment?

If you're asking for a loan, you can't ask the lender to take on the risk of your investment with the loan as well. This is ludicrous.

The best part of this is the bAsic ad in his sig.  :D

I've got 95BTC, screw the naysayers, Hit me up with a PM.

What??  Re-read what the "naysayers" had to say maybe.

Do note, in real life 1% investments of bank interest is completely safe, and 10% on stock markets for a yearly return rate on average
has its risks. This offers 20%. Also note Butterfly lab would have to turn out to be a complete scam, and in the past they have
delivered, so the risk is really minimal, its only if a 1 in 1000 chance occurs, then you get a 1/3 refund.

If you bought the ASIC yourself in pre-order, and it turns out to be a scam you get back 0%.
But with this investment, if it turns out to be that, you get back 1/3.
After all 1/3 is better then 0%?

I mean your asking for a 20% interest rate at no risk, that's absurd, its like money growing on trees.
You would have to invest for 15 years in the bank to get 20% with compound in comparison to this,
which may take only of 9 months.

And its safer then stock markets, they crash, and you can lose your investment.
Is it likely that butterfly lab will default? Or do a massive scam? After all they did deliver in the past.

If your not interested, why are you posting?

Even if an request sounds absurd, you don't have
to scream out and point red fingers immediately.
That doesn't happen in real life, but only on threads?

You could just look at it and think of it as absurd,
then go look somewhere else, instead of screaming out.

I also detailed the whole thing compeltely, so its up
to a person to decide, I said it all in quote.
If you don't want it, just move on.

If you see a guy outside holding a sign, *End of the world*
Do you jump out of the car, and scream *TROLLOLOLOLOL*
And things? No you just ignore it, and drive on.
Why can't you do the same?

Its interesting how you call donators trolls, even though
they are required for this site to function, and without them
they wouldn't have the funds. That was $140 out of my pocket
hard cash, because I use this forum, and I thought they deserved it.

Seeing that you are serious then my only complaint is that this is not a loan.  It is some sort of investment but not a loan so I will delete my post and suggest you move it out of the loan forum into some other area, possibly securities (?)

You can now delete your response to my post if you wish.

Good luck with your idea!

You do realize in Australia it's not hard to get federally insured bank accounts that pays 4% APR, right?

Plus, just buy it with a credit card and chargeback if BFL turns out to be a scam.

I don't really think this goes under loan. Either 'Gambling' or Investments (if we have one) should be better.

Can we not simply scammer tag proto-scammers like him directly in the first place? Make even the attempt probatable? It would certainly cut down on the attempts. Adding the scammer tag only after the fact helps no one and is kinda ludicrous.

speechless

*edit* He's not really a scammer. He is being quite honest about it all actually. But yeah again, this thread makes forum look like a joke and should be closed before some unsuspecting retard err community member takes it up.

No, we can't tag people before they have scammed someone. Some people have a bad sense of making business proposals after all, and are not necessarily scammers.


PS: OP, if you rely on BFL's results to determine whether you return the funds, this is not considered as a loan. 20% APR is, well, negligible with the risks involved.

OP has full confidence in BFL so I don't see how this can go bad

I can pay off the loan faster with my two other asic miners once they received.
So that would cut the time down a ton.

And I do have confience, because butterfly labs did deliver 832 Mhash units, when everyone called them scammers
a long time ago, same thing with Asic miners.

I doubt it to be a massive scam, and if it is well I will be down a lot.

Its interesting though that in this case if BFL defaults And you do lose your money, this would make it considered a gambling more then a investment.

Though there was a time when there was 7% interest weekly, and if they defaulted in the quotes it said you get nothing.
Though this wasn't taken as a gamble, and instead seen as a investment. Surely enough few months went by,
and guess what. Tons of people lost a lot of money. Tens or hundreds of thousands of dollars gone.
If that isn't seen as a gamble

Then why is this seen as that?

You might consider removing bASIC from your signature after reading this:

https://www.btcfpga.com/forum/index.php?topic=1041.msg3093