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Author Topic: 5BTC loan for 2 months. 0.75BTC interest paid on July 1st (can offer collateral)  (Read 1501 times)
wachtwoord
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May 01, 2013, 06:59:57 AM
 #21

Being somewhat new to the entire concept I am inclined to go with the member that seems to have the longest track record and reputation. That being wachtwoord.
Based on your track record and user feedback I am comfortable with doing this without escrow if you are and If you PM me the needed transfer information I will transfer the shares into your btc-tc.co account as soon as I can (likely tomorrow as I have previous engagements for tonight).

I hope all other readers and contributors to this thread are OK with my choice? (Not 100% on what the etiquette is on this seeing it being my first loan).

Edit: (Update) If possible I would like the option of cashing the loan in advance for a slightly reduced interest rate. I will know within the week if my ASIC opportunity seems worth pursuing and would then want to pay back the loan in full within 10 days. wachtwoord, please do give me your BTC0.0002 on this.

Thank you for choosing me Smiley

I have contacted you via PM to resolve a few open issues (30th July is 90 days away for instance Wink). Further, of course returning the loan sooner for a reduced rate is fine, I have made an offer in the PM. I'll disclose the outcome in this thread for transparency.
wachtwoord
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May 02, 2013, 03:49:19 PM
 #22

As promised an update. We have settled the loan, in short:

  • I am currently in possession of the collateral on BTCT.co
  • I have  send the BTC5.
  • All risk of the investment and the exchange they are on, stays with TheSwede75
  • If the loan is repaid before May 12th (so until May 11th) the interest on the loan is 0.15 BTC
  • Otherwise the loan is repaid before before July 19th (so until July 18th) and the interest is 0.75 BTC
  • I will not liquidate the collateral before the loan is default under any circumstance other than TheSwede75 asking me to do so
  • In the event the value of the collateral drops below the outstanding principal we will be in contact

I just want to add that I find this loan proposition exemplary. May be it should be stickied as an example?
Eisenhower34
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May 02, 2013, 05:12:31 PM
 #23

for what reason?
Scammers will ignore it ...
noobs wont read it ...
good guys already know how to request a loan...
shibaji
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May 02, 2013, 08:39:28 PM
 #24

I already had a similar nature loan before with John K with ASICMINER share collateral (through bitfunder). Not really unique.
wachtwoord
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May 08, 2013, 10:17:58 PM
 #25

TheSwede repaid the loan + interest (BTC0.15 because the loan is repaid before 12/05/2013) today and I have returned the collateral to him. Nice loan, and I would definitely do business with him again.
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