oppahdoggystyle (OP)
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June 13, 2014, 09:26:04 AM Last edit: June 13, 2014, 12:23:24 PM by oppahdoggystyle |
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Killerloop and I are trying to create a loan agreement. I intend to put up USD as collateral for a loan.
We are looking for a trusted bitcointalk member who can act as an escrow. I intend to transfer the USD collateral through Bank of America transfer. Killerloop and I made the following agreement:
Killerloop = Lender Oppahdoggystyle = borrower
LOAN TERMS
Exchange rate used: BTC-e
0.7463 BTC for 4 days will amount to a final payment of 0,773168 BTC or ~467$
I require a little edge (5%) on the final payment as protection against BTC oscillation, thus making the whole sum ~490,35$
So, to summarize everything:
1) 490,35$ will be deposited to the selected escrow 2) Upon confirmation I will send 0.7463 BTC to a given address indicated by the borrower. Loan will start on first blockchain confirmation 3) After roughly 96 hours the lender will pay back 0,773168 BTC to a given address of mine 4) Upon first blockchain confirmation I'll PM the escrow for release.
If the borrower exceeds four days nothing will happen (no late fees) as long as the deposited sum is reasonably enough to pay off principal + accrued interests. Failing this I will claim the money from the escrow.
We have sent PMs to DannyHamilton and await his response. However, we are open to other trustworthy escrow service providers.
This loan has been made public to give transparency to the loan agreement.
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hilariousandco
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Join the world-leading crypto sportsbook NOW!
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June 13, 2014, 10:40:08 AM |
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https://bitcointalk.org/index.php?topic=108716.0You could ask a few from the above trusted escrow list if they can help you out. Or you could just try buy the coins on here for a bank transfer. Probably would be easier.
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jaberwock
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June 13, 2014, 10:40:26 AM |
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Try Asking DannyHamilton, TomatoCage or Escrow.ms they are all trusted and very active escrow.
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oppahdoggystyle (OP)
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June 13, 2014, 10:49:31 AM |
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Thank you for your responses. I will try contacting your suggestions and see what happens. I appreciate all your help!
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Killerloop
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June 13, 2014, 12:19:06 PM |
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LOAN TERMS
Loan amount: 0.7463 BTC Interest: 0.9% daily, non compounded, to be paid after 4 days. Duration: 4 days minimum Exchange rate used: BTC-e
0.7463 BTC for 4 days will amount to a final payment of 0,773168 BTC or ~467$
I require a little edge (5%) on the final payment as protection against BTC oscillation, thus making the whole sum ~490,35$
So, to summarize everything:
1) 490,35$ will be deposited to the selected escrow 2) Upon confirmation I will send 0.7463 BTC to a given address indicated by the borrower. Loan will start on first blockchain confirmation 3) After roughly 96 hours the lender will pay back 0,773168 BTC to a given address of mine 4) Upon first blockchain confirmation I'll PM the escrow for release.
If the borrower exceeds four days nothing will happen (no late fees) as long as the deposited sum is reasonably enough to pay off principal + accrued interests. Failing this I will claim the money from the escrow.
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Loan request: "I need 7 BTC because We hired an archaelogist and asked him: Is there a treasure? And he said yes!"
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oppahdoggystyle (OP)
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June 13, 2014, 12:20:40 PM |
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I have agreed to Killerloop's terms.
We are now awaiting for someone to act as the escrow for the USD fiat. If anyone is able, please feel free to respond to this post.
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DannyHamilton
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June 13, 2014, 04:38:58 PM |
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Where are you located?
You can send cash to me via any of the methods listed below. I'd be willing to hold the cash in escrow, but you'd have to pay any costs/fees for sending the cash to me AND for me to send the cash back to you at the end of the transaction.
If this is acceptable, let me know which method you will be using to send the cash to me.
Payment methods I will accept:
1. Cash in Mail- You send me cash via Priority or Express mail. We lock in price and I release BTC when received.
2. U.S. postal money order in Mail - You purchase a U.S. postal money order and send it to me via First Class postage. We lock in price and I release BTC when received.
3. MoneyGram You send me money via MoneyGram for same day pickup at agent location, once picked up I release the BTC. Maximum $900 per day. Currently still available today $900.
4. Greater Chicagoland meetup We meet up and trade cash for my bitcoins. Travel fee of $0.50 per mile if I have to travel more than 10 miles to meet you.
5. Suggest other options I'm willing to consider other options that result in cash in my hands without first passing through my bank or PayPal.
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DannyHamilton
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June 13, 2014, 04:41:17 PM |
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Note, when sending the cash back to you, these are the options I'll typically accept:
PAYMENT METHODS (and any extra fees):
1. Cash in mail- U.S. dollars mailed directly to an address provided by you. I'll provide tracking #. Shipping methods: either priority or overnight mail. Fees: You pay the postage costs (will be taken from the cash sent to you).
2. U.S. postal money order in mail- I purchase U.S. postal money orders and ship them to you using your preference of postage. Fees: $1.60 per $1000 (or fraction thereof) and you pay the shipping costs (will be taken from the value of the money orders)
3. GreenDot MoneyPak- MoneyPak card bought with cash, code # PMed to you. Can be added to PayPal with no risk of chargeback Fees: $5.00 (will be taken from the value added to the MoneyPak).
4. Vanilla Reload- Vanilla Reload card bought from CVS with cash, code # PMed to you. Can be added to Prepaid Debit with no risk of chargeback Fees: $5.00 (will be taken from the value added to the Reload).
5. Bank CASH Deposit- Cash deposited to your major US bank, subject to locations near me. Fees: None
6. MoneyGram- Cash sent to you via MoneyGram and can be picked up at any MoneyGram location (such as Walmart or CVS). Maximum of $900 per transaction. Fees: All sending fees (taken from the cash sent to you). See moneygram.com for estimates.
7. Cash In-Person- I live in the Greater Chicagoland area, if you are willing to meet me within 60 miles of my location I will exchange for cash. Fees: $0.50 per mile if I have to drive more than 10 miles to meet you.
If you have a payment method that you would like to know if I can use to make payment, please PM me! The above methods are the only ones I know of and have used before, but I'm willing to consider other payment methods. I won't use paypal. I won't use any method that requires me to have a bank account.
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Killerloop
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June 13, 2014, 06:12:14 PM |
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If I may... why not a simple wire transfer?
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Loan request: "I need 7 BTC because We hired an archaelogist and asked him: Is there a treasure? And he said yes!"
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DannyHamilton
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June 13, 2014, 06:16:52 PM |
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If I may... why not a simple wire transfer?
First, sending a U.S. postal money order would be cheaper (and possibly faster). More importantly though, I don't pass any bitcoin related business through any bank accounts at all. I've heard too many stories about banks closing people's accounts when they discover that the accounts are associated with some sort of bitcoin related activity, and I need my bank accounts for paying bills and similar purposes. - Danny.
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Killerloop
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June 13, 2014, 06:24:37 PM |
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I've heard too many stories about banks closing people's accounts when they discover that the accounts are associated with some sort of bitcoin related activity, and I need my bank accounts for paying bills and similar purposes.
I 100% understand. Yet I think it is illegal for the bank to claim "bitcoin related activity" without solid proof.
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Loan request: "I need 7 BTC because We hired an archaelogist and asked him: Is there a treasure? And he said yes!"
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DannyHamilton
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June 13, 2014, 06:35:21 PM |
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I've heard too many stories about banks closing people's accounts when they discover that the accounts are associated with some sort of bitcoin related activity, and I need my bank accounts for paying bills and similar purposes.
I 100% understand. Yet I think it is illegal for the bank to claim "bitcoin related activity" without solid proof. There is no law in the U.S. (that I know of) that requires a bank to provide accounts to customers that they don't want to provide accounts to. They don't need to claim "bitcoin related activity". All they need to do is say, "We aren't interested in having you as a customer any more". If they want to give a reason, they can say, "Upon review of your account, we've determined that your activities exceed the limits of risk that we are willing to accept."
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