secure loan?

[leen93]

Hi!
I'm giving the most secure loan on this forum but can't find anyone
https://bitcointalk.org/index.php?topic=884267.0
anyone has an idea why?

[DannyHamilton]

anyone has an idea why?

Because you are not offering enough interest, and you want the loan to be payable in the USD value rather than the BTC value.

You are essentially offering people the ability to sell their bitcoins to you at today's price with a guarantee to sell them back at a future price.  If people are certain that the exchange rate will drop, then this is good for them.  They can send you the equivalent of 2.857 BTC (1000 USD) today, and when it is paid back, if the exchange rate has dropped to $300/BTC, they will receive 3.333 BTC.  The thing is, if someone believes that the exchange rate will drop, then they can just wait and buy the bitcoins then.  The only benefit they get is the tiny interest rate you are offering, and that doesn't offset the risk that the exchange rate could go up.

As for those that already have USD and not bitcoins, you are essentially offering them the ability to buy bitcoins today with a guarantee to sell them back in the future at a today's price. If people are certain that the exchange rate will drop, then this is good for them. They can send you the equivalent of 2.857 BTC (1000 USD) today, and when it is paid back, if the exchange rate has dropped to $300/BTC, they will receive their $1000 plus a small interest.  Unfortunately this doesn't offset the risk that the exchange rate could go up, where they would have been better off simply buying and keeping the bitcoins instead of sending the cash to you.

[notlist3d]

1 percent will not attract people.  Also saying 2 weeks to 6 months is a big timeline. One for 2 weeks is a short term loan.  If it goes for 6 months it is a long term loan.

Also I could be reading this wrong but are you saying it is between 1 dollar and 2000 dollars?  I did not understand amount.

[leen93]

anyone has an idea why?

Because you are not offering enough interest, and you want the loan to be payable in the USD value rather than the BTC value.

You are essentially offering people the ability to sell their bitcoins to you at today's price with a guarantee to sell them back at a future price.  If people are certain that the exchange rate will drop, then this is good for them.  They can send you the equivalent of 2.857 BTC (1000 USD) today, and when it is paid back, if the exchange rate has dropped to $300/BTC, they will receive 3.333 BTC.  The thing is, if someone believes that the exchange rate will drop, then they can just wait and buy the bitcoins then.  The only benefit they get is the tiny interest rate you are offering, and that doesn't offset the risk that the exchange rate could go up.

As for those that already have USD and not bitcoins, you are essentially offering them the ability to buy bitcoins today with a guarantee to sell them back in the future at a today's price. If people are certain that the exchange rate will drop, then this is good for them. They can send you the equivalent of 2.857 BTC (1000 USD) today, and when it is paid back, if the exchange rate has dropped to $300/BTC, they will receive their $1000 plus a small interest.  Unfortunately this doesn't offset the risk that the exchange rate could go up, where they would have been better off simply buying and keeping the bitcoins instead of sending the cash to you.

But for people who have a lot of USD in their bank account?
They could buy btc with it, send it to me and in for example 1 year I send them back btc which they can sell for 12.68% more and put back in their bank account, isn't that a good deal then? just for people who are not bearish or bullish on bitcoin, just people who don't care about the price. Don't dare to bet on the future price of bitcoin but just want a sure decent interest rate on their money

not everyone is a bullish bitcoin daytrader...

[leen93]

1 percent will not attract people.  Also saying 2 weeks to 6 months is a big timeline. One for 2 weeks is a short term loan.  If it goes for 6 months it is a long term loan.

Also I could be reading this wrong but are you saying it is between 1 dollar and 2000 dollars?  I did not understand amount.

yes, actually i need a bit over 2000$ but 1$ is just for getting some small loans so maybe others feel more attractive to lend me more...

[jjacob]

I think if you change it to a pure BTC loan, you will get more people interested.
People definitely hope that the price of BTC will recover in 6 months time.

[Brewins]

I think if you change it to a pure BTC loan, you will get more people interested.
People definitely hope that the price of BTC will recover in 6 months time.

There are people in the speculation forum calling for $200/coin.

Would be a good deal for then, the problem is the interest rate(I can't get a bank loan for 1%/month interest rate).


At least he is innovative by offering USD loans via bitcoins, instead of just loaning the bitcoins

[leen93]

I need dollars, so I can't just lend bitcoins. I don't want to speculate on the bitcoin price myself...
it's also not really btc shorting for the guy offering the loan. he doesn't earn/lose money when bitcoin price drops or goes to the moon, you have to see it as a casual $ loan but just using bitcoins as an easy transfer method.

[SirChiko]

The interest rate is really low even thought collaterall rate is good choosen, you need to up your interest.

[pawel7777]

So you're looking to borrow ~$2000, you provide BTC/LTC as collateral. Why not just sell your BTC or LTC for USD instead of borrowing?

[leen93]

So you're looking to borrow ~$2000, you provide BTC/LTC as collateral. Why not just sell your BTC or LTC for USD instead of borrowing?

like all collaterals, you don't want to sell it right now...

[pawel7777]

So you're looking to borrow ~$2000, you provide BTC/LTC as collateral. Why not just sell your BTC or LTC for USD instead of borrowing?

like all collaterals, you don't want to sell it right now...

Makes no sense, unless you're betting on the price rise, if so - good luck.

[SirChiko]

So you're looking to borrow ~$2000, you provide BTC/LTC as collateral. Why not just sell your BTC or LTC for USD instead of borrowing?

like all collaterals, you don't want to sell it right now...

Makes no sense, unless you're betting on the price rise, if so - good luck.

Microsoft started supporting BTC not so long ago so it's probably good move

[leen93]

So you're looking to borrow ~$2000, you provide BTC/LTC as collateral. Why not just sell your BTC or LTC for USD instead of borrowing?

like all collaterals, you don't want to sell it right now...

Makes no sense, unless you're betting on the price rise, if so - good luck.

yes i do but that's my business...
if you don't think the price will go up why don't you give me this loan? 

[pawel7777]

So you're looking to borrow ~$2000, you provide BTC/LTC as collateral. Why not just sell your BTC or LTC for USD instead of borrowing?

like all collaterals, you don't want to sell it right now...

Makes no sense, unless you're betting on the price rise, if so - good luck.

yes i do but that's my business...
if you don't think the price will go up why don't you give me this loan? 

I wasn't being sarcastic, that was a genuine 'good luck'. I hope you're right and it goes up.

I think you should be open about why you want that loan (in your thread in lending section), otherwise many can find it suspicious and choose to keep away from something they don't understand.

[leen93]

So you're looking to borrow ~$2000, you provide BTC/LTC as collateral. Why not just sell your BTC or LTC for USD instead of borrowing?

like all collaterals, you don't want to sell it right now...

Makes no sense, unless you're betting on the price rise, if so - good luck.

yes i do but that's my business...
if you don't think the price will go up why don't you give me this loan? 

I wasn't being sarcastic, that was a genuine 'good luck'. I hope you're right and it goes up.

I think you should be open about why you want that loan (in your thread in lending section), otherwise many can find it suspicious and choose to keep away from something they don't understand.

it's not for 1 thing, just for buying some stuff, christmas presents, some study books..., im selling my btc all the time but don't want that, just want to postpone selling them as much as possible
and thanks a lot!

[MS.drawing]

Any loan is secure with bitcoin, you cant for someone to send back your btc  ...
look on btcjam lol, the favorite place of sacammers ... sadly