I 100% agree with not doing business with friends or family. Thus, why I'm here, its one thing to earn a loan from people who are influenced simply because you're related and another to earn a loan simply based on the merit of your business idea.


Yeah, I had read that and saw the 110% suggestions. Which leads me to ask how and effectively 150% of collateral for a loan would not qualify as enough. I would guess it is because they asset up for collateral is not liquid enough (The ATMs). Could a problem like this be to set up a third party escrow who receives the ATM's and hand them over in person? I would assume that demand for this is pretty small and that there isn't a business that solely relies on revenue from this. Also I would think that the value of the ATM's would diminish immediately a minimum of 10% because they are no longer new. Thus, creating more problems with ones collateral.

It wouldn't come from a single lender, instead multiple lenders offering what they're willing to risk....

That was my thought as well, but Bitcoin is a no trust needed system and again I'm only trying to generate a discussion on what would be needed for large loans to work. Such as turning those ATMs and control of those ATMs into smart property that can be transferred to the loaners upon payment failure. Specifically how to satisfy the collateral requirements of this subforum.

Hi, I'm trying to understand how the collateral system works. I am thinking of starting a business but am not entirely sure If I could ask for a loan here like the one I would be looking for.
This is not a request for a loan, im just trying to see if this would be how it would work.

I am looking into buying Two Bitcoin ATM's at $14,500 each (Total of $29,000).
I request a loan for $29,000 from the community and have assign $15,000 in escrow to the lenders. It could be done using multisig so that the Bitcoin automatically get sent to the lenders at each month and the interest for each month is paid from the earnings off the Bitcoin ATM via me.
If there are people will to agree to the loan then the lenders could send the money on to the selected ATM company itself and the ATM company could ship the ATM's to my door.

- Ideally this meets the capital requirements by putting actual Bitcoin in escrow to the lenders but also creating a physical track able purchase of Two ATMS that can be resold to recoup losses if a failure of the business occurs.

What would be the flaws in this?
Is there a better way to go about this?
any Idea what an interest rate on this would be?
Would it have to be a BTC interest rate or a USD based one?

And the reasoning behind this is to set up a loan where-in the risk of failing to attract customers to one bitcoin ATM is offset by having two locations.

Thanks for the link, My understanding is that I can do this with one transaction from one wallet. I was more interested in multiple bitcoins coming from multiple wallets and going into one wallet. Is there any work on that being done? or am I misunderstanding multi signature transactions?

I have been trying to search for an answer to my question but have been unable to find one. I may not be using the proper search criteria so forgive me if this has been answered before.

Is it possible to create a transaction where in multiple people can send funds to an address but those funds are not released to the address until a set number of funds are received, but those funds are also not available to be double spent e.g. the funds have transferred to the holding address. I'm not sure if I'm explaining correctly so ill try to make a chart. Does this already have a name?  I am curious about it for crowd funding.

Sender's BTC                                    Purgatory                                      Received BTC

BTC 1 -------------------|The BTC are sent to an address,             |
BTC 2 -------------------| and are effectively in limbo,neither party  |
BTC 3 -------------------| can access them or spend them             |
                                      until 4 BTC are sent to the                    |---------> 4BTC released to use able address
                                      address and then they are released        |

BTC 4 -------------------|                                                        |


Also, ideally you can set purgatory up to expire at a given time and if incomplete simply send the BTC back to original senders.

I have $300 in Dwolla and im looking for mtgox, i know im new so id be willing to do escrow

Bump

I can offer 435+shipping to san antonio texas for the lot. I know its not what you wanted in the posting but its something.

Hey, Im looking to sell my HD Fury Advanced Kit for Bitcoins here is a link:
http://www.hdfury.com/products/hdfuryiii-specs/
I am looking for about $250 in bitcoin and am willing to do escrow

Do all the 5850s work?

Do you have a motherboard/cpu/psu or anything? ill throw out 275+shipping

Hey, I was curious how one becomes a trusted online trader, I read that you needed a WOT account... but when I google that only world of tanks comes up. Is there a website to keep track of peoples trades and what not?

Sorry, no rockstar drinks, I'm assuming my school has some sort of deal worked out to only carry red bull energy drinks because we don't have five hour either.
But I think about 30 8.4oz cans fits into a large usps, do yall think thats worth 3 BTC?

The flat rate or the rockstars? 

Ill look into it/get a flat rate box and see how many fit

So someone should be willing to pay 30 dollars for one shipped to their door,  and I'm tring to find the prices on costco for 12 packs of 8 oz ones. I have a meal plan that's non-refundable and so I have left over cash on it which expires at the end of the semester, I figured redbull would be the best buy/sell but there are of course other food things that can be bought and shipped

Its left over from school so its not a bother to me if you simply pay the cost which is about 30 dollars I think? But I may be wrong

Alright, I can fit 30 8.4 oz redbull cans in a large flat rate usps box, I will ship anywhere in the 48 us states for 3.5 BTC. I guess I should say I can only ship orders of 30 as well.

Also I pay for my electricity at the beginning of the year and can use whatever I need in the next year.