update: loan is 34% funded, if it reaches 70% then it is eligible for activation.

Thanks again for reading

https://btcjam.com/listings/7095

The rate is 2% for a 30 day loan, paid back through the btcjam system.

I would like to finance a portion of my crypto currency trading portfolio with this.

I am unable to offer collateral, I understand if this prevents you from lending.

Please message me with any questions.

Thank you bitcoin community, you rock!

update to pricing, see first post

well i will cancel it now that I understand the concept of collateral more.  Also, those loans don't fund unless they get at least 70% of the asking amount.

Thanks again. tips incoming!

To Vod's last post:

I understand the rep loan thing now, and it was a bad idea.  I saw people all over btcJam doing it, so i jumped off the bridge, too.

I have put up all of the cost already.  It is bought and paid for.  This loan was meant to move the debt from my CC to bitcoin.

If i reduced the ask to 40-60% of the cost, would that be more reasonable?

And KHW's post:

Regarding lender protection, btcJam offers arbitration, is this not recognized by the bitcointalk.org community?
3. International Arbitration
Any controversy or claim arising out of or relating to this contract, or the breach of this contract, shall be settled by binding internet arbitration at net-arb.com. The arbitrator's decision shall be final and legally binding and judgment may be entered thereon.

No I don't have something of greater value to put in escrow that I can relenquish.  I have my car and computer.  Both of which I need to make money and aren't worth 40btc combined.

In the end thank you both for the knowledge, I will keep this on my CC bill.  I will mark this loan as canceled.

But that would defeat the purpose of the 6 months of hosting I paid for

If I emailed KNC miner about adding the third party escrow to the account and have the future shipping address changed to their address, would that be suitable?

Or is there no good way to go about this while retaining the hosting package with KNC?

I asked in the initial post if there was a way to make that agreement binding.  There would be no honor system.  I there a common method to do that?  A contract, or third party trustee that has access to the miner?

Apologies from my ignorance,  I pulled my idea of collateral from the wiki article:
"If a borrower does default on a loan (due to insolvency or other event), that borrower forfeits (gives up) the property pledged as collateral—and the lender then becomes the owner of the collateral."
Based on the above, I deduced that the borrower still retains ownership unless the borrower defaults.

Also, how does it work in an auto loan or mortgage.  The borrower still has the ability to use the item, while the item itself is the only security that the lender has, correct?

Clearly I am confused, do you have a better reference for me to look at?  

are you saying that what i described doesn't fit the definition of collateral?

or

that it doesn't hold enough value to be collateral?

The intent is for me to continue to mine while moving the debt from Mastercard to btcJam.

Only if I default on the loan:
-While hosted, The miner and hosting account will be transferred to the lender(s)
-After 6 months, the miner will be sent to the lender(s)

updated to better reflect the accuracy of the request
https://btcjam.com/listings/7033

The rate is 2% per payment period, which results in ~14.5% over the life of the loan, 365 days
Loan Calculator
Number of payments: 13
Payments of:  3.52473411
Total paid:    45.821543
On the 10th of every month

I am looking to refinance my KNC Miner purchase. I used my credit card and would like to move the interest payments into the bitcoin community.

I purchased the miner w/ 6 month hosting for a total of $5195

I am fully paid on the miner and it should be delivered no later than mid-October.

The miner will be collateral for this loan if the loan becomes defaulted. (any rec. on how to make this official/binding?)
If I default on the loan in the first 6 months,  the miner and hosting account will be transferred to the lender(s)
If I default on the loan after 6 months, the miner will be sent to the lender(s)

I intend to pay this in 180 days, but the term is for 365 days.

Please message me with any questions.

Thank you bitcoin community, you rock!

what do you think is reasonable?

Please check my current listings on BitMit https://www.bitmit.net/en/user/innosenselost

If you win this auction you will be entitled to receive 5% of all the bitcoin mined in the first month. No maintenance or additional fees. You will receive payouts every 7 days.


I am offering:
10x 179.99 buyitnow  ~$14 per gh/s

Also taking offers.

Message me on bitmit, I check that multiple times a day.

Thanks for reading!

loan is repaid, austin can you confirm?

https://btcjam.com/users/7011

^^ yes

Thanks everyone for dealing with me as a I stumble along on my first loan.

the 2btc that von is holding in escrow is collateral if i default on the loan here: https://btcjam.com/listings/6966

I will pay this back within 24 hours of the btcjam loan being funded to me.  
Once I pay this back in full within the timeframe, Von will send the escrowed funds back to me here: 1kd6sUwE1y7jdzfuFGV5KZkRwZvTvuESa

https://blockchain.info/tx/14dbbd43f80495a010ce5313595a525e22e26fffcc5d762dfc766f7ab50ebc45

2 btc sent to Von as collateral. 

Vod can you PM me with your escrow details?

Request 1 btc @ 3% through btcjam: Payback within 24 hours of funding
https://btcjam.com/listings/6966

I will use these funds to finance a trade.

I would like to escrow 2 btc as collateral, is there a good list of users that could handle the escrow?

Thanks!