Lending Service

[CryptoHFs]

How can I launch a successful lending service if I only accept BITCOIN mining machines as a collateral?

I want to offer long term loans for bitcoin mining machines as collateral with ZERO interest

and I will use the machines to mine

this can be good for people who has machines but can't do mining due to electricity or any other reasons

[HedgeFx]

Is not easy to arrange a lending service using physical items as collateral.

At least you need a trustable escrow located in the same place where mining machines are . But really , I think is a bit difficult to ship mining machines. Better to accept other crypto or at least collectibles good .

[CryptoHFs]

Is not easy to arrange a lending service using physical items as collateral.

At least you need a trustable escrow located in the same place where mining machines are . But really , I think is a bit difficult to ship mining machines. Better to accept other crypto or at least collectibles good .

The goal is I want to start bitcoin mining without buying machines

so at the end of the day I get my money 100% back and you get more used machines

NiceHash if you spend $100,000 you will never get it back

Loans you will get the $100,000 back + all the mining power for free

[Timelord2067]

Perhaps you would be better off buying units from vendors who agree to buy back after a set period of time?

Post your want list and see if there are any takers?

[CryptoHFs]

Perhaps you would be better off buying units from vendors who agree to buy back after a set period of time?

Post your want list and see if there are any takers?

can you mention any of these vendors?

the issue is I don't want to lose money.. most lending services are made for pure profits so I thought this can be a good option for desperate people with mining machines.. however, if any vendor with good offers I may be open for it if I get 90% back of the paid money +-

[Bitcoin_Arena]

I understand your idea, but I think It won't be suitable. Here are some questions.

1. Who's going to cover the escrow fee? Just to be sure that you receive good working miners and the other party receives the money
2. Who's going to cover the shipment fee and the tax. These miners are most likely to be shipped across boards
3. What happens when you get the miners but then fail to make profit due to other costs such as power? Bitcoin mining isn't that profitable lately.
4. What if the miners malfunction while you are still using them... maybe 6 months into using them and yet the deal was for 2 years, what do you do?

[CryptoHFs]

I understand your idea, but I think It won't be suitable. Here are some questions.

1. Who's going to cover the escrow fee? Just to be sure that you receive good working miners and the other party receives the money
2. Who's going to cover the shipment fee and the tax. These miners are most likely to be shipped across boards

it depends on how much is it if it's not that low 5-10% in total round then it won't be done.. however, if it ranges that we can split 50%-50%

3. What happens when you get the miners but then fail to make profit due to other costs such as power? Bitcoin mining isn't that profitable lately.

it is going to be my own problem.. this is a lending service and doesn't get affected with anything on both sides

4. What if the miners malfunction while you are still using them... maybe 6 months into using them and yet the deal was for 2 years, what do you do?
The other party should send a replacement or a quick fix solution

[CryptoHFs]

I have re-launched the idea in a better way; https://bitcointalk.org/index.php?topic=5448550.0