If anyone wants to do this deal which will be guaranteed to yield them 5 percent let me know.
We will confirm a well written summary detailing everything and anything encompassing the transaction. This summary will be made available on the bitrated site, the escrow will hold the eth funds.
In case of default you win the eth.
I will pay you back in btc as I value my eth more than I do btc, so in either way you will see a profit.
No I will not send you my eth directly to hold for escrow, there needs to be a 3rd party for holding as the chances of scamming me are too great if I just send you the eth directly. So please stop asking and telling me you are "trusted enough" to receive eth directly.
You have trust issues dude. If the lender is trusted why would you not send the ETH to them?
If you check the history of the forum you'll see even trusted escrows had ran with the stuff they were trusted with.
And, oh please 1btc = $4,000? Lenders here have held far more than that and the borrowers completely trusted them.
And to address your second point.
The entire concept of interest is predicated on risk. Banks charge interest rate on money that is unsecured and thus require a higher percentage back.
On this forum you HAVE collateral that is 120 LTV. Which means you literally have no risk, unless someone starts a nuclear war and cryptos go to shit or some major catastrophic event happens.
So to justify the fact that collateralized loans go for such high interests doesnt not bode well in this argument. If anything collateral debts should require less interest because they are guaranteed, and even if someone defaults the lender would get 20 percent more.
It is essentially a win win for the lender. You default they collect. You pay back they still collect.
Uhm, they will not loan you if you did not give collateral or that your credit standing is shit or that generally they think you don't have the capacity to pay.
Likely, if you go to a bank and said "I have ETH as collateral, they'll laugh at you and tell you to go away".
The principle why people charge a high interest here on the forum is that there is really high risk for the following reasons:
1. Everybody is anonymous. No one knows how to reach anybody in case anyone defaults.
2. Altcoin and even bitcoin is super volatile, a minute ago you are holding 1btc next thing you know you don't even have half of it.
3. Profits in the cryptocurrency industry is far more than 5% per month, you can check the stats for yourself.