Bitcoin Forum

I would like a loan of up to $10,000 Mtgox USD. I am offering 1% interest per month.

I will provide an equivalent amount of BTC as collateral. (The exact amount can be slightly higher or lower depending on our respective reputabilities.)

If the BTC price changes we can negotiate an increase or decrease in collateral to keep it roughly equivalent.

I prefer at least $4,000 per individual lender to reduce overhead.

The loan term is for now indeterminate but we can agree on a minimum term if needed, and you can withdraw anytime with a 1 week prior notice.

I can only offer interest if you are not Jewish.

Since I am highly reputable (https://bitcointalk.org/index.php?topic=121314) and offering both collateral and good interest, I think it's a very good deal.

Background:

Bitcoin is still booming in Israel (https://bitcointalk.org/index.php?topic=135088.0) and despite my efforts I simply can't wire funds fast enough to handle all the load. Having a larger reserve would allow me to profit from the business while maintaining my desired BTC position.

Over the longer term I will seek more sustainable funding options but right now I need some reasonably fast way to increase my capacity, and can certainly afford 1% monthly for that.

sorry for go off topic (kinda) but I'm curious why you can only offer interest to non jewish people ?

I'm jewish.. which is why i am wondering...

I try to follow the halakha where possible, and it forbids interest-bearing loans from one Jew to another.

Under Jewish law, you are not allowed to charge another Jew interest. But here, you are rendering interest upon another Jew. I don't see why this is forbidden.

http://judaism.stackexchange.com/questions/25838/are-you-allowed-to-borrow-money-from-another-jew-with-interest

Unfortunately the halaka forbids it.

Please continue the banter about religion and interest in the other thread: https://bitcointalk.org/index.php?topic=139489.0
And keep this thread solely on the loan. Thanks.

You meant https://bitcointalk.org/index.php?topic=139489.0.

Oops, yes. Edited.

Loaning for up to $20k equivalent, we've already discussed specific terms.

I wish all the best for the Israel Bitcoin boom! :) (Hopefully it's not turning into another speculation mania... but I guess that's not for exchanges to worry about.)

Confirmed receiving a $20K loan from Vandroiy.

Most of the buying demand is definitely for investment purposes. There's a theory that the Israel boom is (partly) responsible for the BTC rate appreciation, but I don't really believe that.