ROFL.  You just popped off to a guy who has his CFA charter, his CPA, and runs a financial firm with 500 million under management. 

Obviously I don't know anything about it. 

I do not think I would call Portugal/Greek bonds a very attractive credit risk.  The chances of you being de-valued are very high. 

Also, most publicly traded companies can currently borrow at sub-4%......plus they get a tax write-off for the interest. 

10% corporate lending would be laughed out of the building. 

Can I re-purchase the shares Diablo holds in BTCMC?

I am also confused by this.....If you are calling my offer a scam, you are simply trolling for the sake of trolling. 

If you are saying Obsi is a scam, I have no ground for comment and it should be posted elsewhere. 

You are mis-informed.  I still own the vast majority of my mining operation.  Less than 30% is owned by others.  There is no debt associated with the mining company, as they are shares....not bonds. 

I will gladly share financial statements with interested parties.....in fact I had planned on it and have consolidated statements from the last 3 years ready to go. 

I have no desire to float shares as a pass-through to my firm.  I do not much care for the GLBSE format, and feel dealing directly with lenders is the better path. 

I am not offering 20%.  I am offering 10%.....on an annual basis.  I earn 20-30% from my equity in a very profitable firm, and it is an opportunity unavailable to anyone but current partners.....hence the great ROI. 

Hey guys, thanks for all the responses.....I will try to address all of the questions/replies in this post.


What are my other BTC obligations?

I currently have an 11,000 BTC loan with a long time forum member who wishes to remain anonymous.  The balance on that loan has been paid down to 9,000 BTC and the next payment is not due until February.  I do, however, plan on aggressively paying it off early as I have been thus far.  There is a thread dealing with that loan in the lending sub-forum, and I post periodic updates for those interested parties.  


Wouldn't it make more sense to do the loan on a dollar basis?

In a perfect world?  Absolutely.  The issue I see is most holders of substantial BTC do not wish to lend in dollars.  They think in terms of BTC and want to loan in terms of BTC.  In addition, many of them believe the price of BTC will only go higher (debatable of course), thus do not want to lock into a dollar loan and lose out on appreciation.  I think it is just a simpler solution to do all calculations in BTC, in conjunction with the aforementioned price collar.  



I wholeheartedly agree.  There are 2 opportunities with available to me for which I will use the funds......one major and one minor.  The major opportunity is simply purchasing more equity in my firm.  I currently own a sizable minority interest, but more has been made available to me.  The business is 46 years old, and has never earned less than 20% ROE.  Many years we are closer to 30%.  It makes a lot of sense for me to borrow at 10% and earn at 30%.  The second, much smaller opportunity is engaging in small currency exchange transactions.  I have several individuals who transact through me, and I make a nice spread on both sides.  It is not much, but I believe it can grow if I had more working capital available.  



I don't see this as an attack at all.....people SHOULD ask hard questions, and be very skeptical.  If we had more of that, perhaps Pirate would not have been able to take so many people for so many Bitcoins.  Above I briefly explain the opportunities, and there is not much more to it than that.  You would be financing my acquisition of very attractive equity in a business I have worked for nearly a decade.  

I completely agree a lower APR does not automatically remove any risk of a ponzi.....I just hope in doing a more rational type of lending that is successful, persons will stop engaging in the type of schemes that inevitably blow-up.  The insanely high yield offerings we see bandied about are a red flag, and a huge one at that.  

I 100% agree.

That is precisely why I am offering a legitimate, REASONABLE lending opportunity to the forum.  The sooner we run out the shysters and HYIP morons, the better the future of BTC will be. 

no......but I would prefer to keep them 50 BTC and above. 

LOL.

Well played sir.  Well played. 

But no.....I prefer to keep this a direct lender/borrower relationship.

This.  Exactly this. 

Damn.

That would probably fit!

I use "price collar" loosely.....but it is a good approximation. 

The collar would be tied to the $/BTC exchange rate, and the best way to illustrate is by example:

Lets say you lend me 500 BTC, and at funds transfer the exchange rate is $10/BTC.

For example sake, lets assume you have earned 50 BTC in interest, and now want to call all 550 BTC.  However, the exchange rate is now $4/BTC.  Rather than getting back only your 550 BTC worth $2,200 (when you lent 500 BTC worth $5,000!), we would use a formula to ensure the 30% collar is dollar terms.  In this case we would take $3,850 (550*7) / 4 (spot rate) and arrive at a repayment of 962.50 BTC.

Essentially, we are insulating both borrower and lender against extreme loss of purchasing power by putting in a floor and ceiling on the exhange rate.  However, the collar only kicks in once the exchange rate has moved beyond the collar limits. 

I think the 30% collar protects pretty well.  I am more than willing to take that risk quite honestly......I think it washes out on the long run. 

I am not easily offended...especially on deal making.

I have the following available, already assembled:

-MSI Big Bang Xpower ms7666 v1.1
-Xeon E5530
-4GB RAM


I would go $400 for the package.   

I think now that nearly every single HYIP scheme has blown up, thus bringing a sense of reality back into the BTC world, a legitimate lending opportunity at sane rates has a place.  


I am offering 10% APR on loans, with the following terms:

-Maximum 500 BTC per lender
-Minimum 90 day commitment from date of first funds transfer
-After 90 days, funds can be called at month end with 5 days notice.  If funds are absolutely needed before a month end, they will be returned but without the partial months accrued interest. 
-Funds can be returned by borrower with accrued interest at any time, for any reason without penalty
-Exchange rate collar of +-30% to protect both lender and borrower from extreme price movements.  Starting point of the collar will be the spot price at time of each funds transfer


Now, I will attempt to preempt the inevitable questions:

Q.  Why on Earth would I lend to you when I can get <insert insane weekly APR here> with Pirate, Hashking, PPT, Bitcoinmax , etc?
A.  Two reasons.  First, those rates are bullshit as we are all finding out.  Second, you will actually get your money back.  

Q.  What will you be using the borrowed BTC for?
A.  I have legitimate real-world business opportunities that offer me 20-25% annual returns.  They are limited in scale, but I am glad to make the 10-15% spread for my trouble and avoid the anal exam that comes along with bank loans.  

Q.  What is to keep you from running away with all of my BTC?
A.  I have a strong desire to see BTC succeed as a parallel economy.  In order for that to happen, responsible lending/borrowing must occur and I see myself as part of that evolution.  I have a LOOONG track record of doing multi-thousand dollar deals with ample opportunity to scam people.  Never once has doing so ever entered my mind.  My word is my bond and I will never break it.  

Q.  This is great, but how will the details work?
A.  I want this to be as transparent as possible.  If lenders allow me, I will list them on a publicly accessible spreadsheet.  This will list a history of loans made, as well as repayments.  Interest will be calculated on a %/12 basis and shown as well.  Those lenders that wish to remain anonymous will not be listed.  



I am in this for the long haul.  The sooner we dispense with insane, clearly fraudulent rates of return, the better off the entire community will be.  

10% that you actually get is infinitely more than 3,300% that is imaginary.  

My apologies.....I re-read my post and can see it coming off a bit snarky.  That was not my intent.

BTCguy is the fucktard here, and I should not have piled on.

My offer was to pay for the single upon receipt, and for the upgrade upon verification from BFL that the order had been transferred.  Thus I had no risk of being scammed. 

ROFL.

This douchetard tried to get me to buy his pre-ordered SC's as well.

I required that I recieve confirmation from BFL of the order numbers as well as transfer of the order before I would pay.  He got all cranky and would not do that.  


I laughed at him and moved on.  

And that, ladies and gentleman, is called protecting yourself from scammers.  

I may have one for you.

How much are you offering? 

BFL has stated they will NOT modify pre-orders.....I have already tried on several I have purchased from members.

Jusr FYI