Asking: .1 BTC with partial repayment/collateral

[madrinos]

Going to give this a shot.

I had a WTB thread:
https://bitcointalk.org/index.php?topic=658443.0

98% positive the transaction I did will end up being a scam, since I have yet to receive my btc, nor anymore correspondence from the seller.
https://bitcointalk.org/index.php?action=trust;u=333926

I have a small balance still left in my PP account, but not enough to cover the full amount for .1 btc again.

I am asking for a loan of .1 btc.
Collateral/Partial repayment: I will send you an agreed amount of USD as collateral to keep for the duration of the loan and eventually it will count toward the repayment.
Loan Duration: 2 weeks max. (July 3rd, 2014).

[Killerloop]

You must provide collateral for 110-120% of the loan minimum. Also fiat could cause problems... paypal hates bitcoins.

[DRK]

With a sub-100% Paypal collateral I worry you're about to get negative repped...

No-one in a sane mindset would take on this loan.

[Justin00]

if people have collateral why bother loan
makes no sense.

but good luck

[Killerloop]

if people have collateral why bother loan
makes no sense.

but good luck

If you have a house don't get a loan to buy a car. Sell the house and get a smaller one plus car.
makes sense

[madrinos]

You must provide collateral for 110-120% of the loan minimum. Also fiat could cause problems... paypal hates bitcoins.

Yes, I now see how the lending process is now. Different from years back, but I can understand why such requirements are more prevalent now.
And Yes, I'm fully aware of PP and BTC. Thankfully, my PP account, which probably has been grandfathered into a lot of policies, hasn't gotten the sub-zero treatment yet.

I'm going to talk to the few sellers I know and see what I can work out. Possibly find some empathy among them.

[madrinos]

if people have collateral why bother loan
makes no sense.

but good luck

When I started reading more....I started asking myself the same question.

Example:
Say a person requires 2 btc loan and the person requires 100% collateral in an altcoin or such.
The lendee gets the equivalent amount of BTC in LTC as collateral.
Why wouldn't the lendee just try to convert LTC to BTC instead??

Please excuse my ignorance.


Sidenote: For the second time in my PP's account history.....I have opened a dispute for a bitcoin related purchase......And for reference, Paypal did refund last time I was scammed, albeit it years ago.

[byt411]

if people have collateral why bother loan
makes no sense.

but good luck

When I started reading more....I started asking myself the same question.

Example:
Say a person requires 2 btc loan and the person requires 100% collateral in an altcoin or such.
The lendee gets the equivalent amount of BTC in LTC as collateral.
Why wouldn't the lendee just try to convert LTC to BTC instead??

Please excuse my ignorance.


Sidenote: For the second time in my PP's account history.....I have opened a dispute for a bitcoin related purchase......And for reference, Paypal did refund last time I was scammed, albeit it years ago.

First, because you believe in LTC and think that its value will rise. Second, trading requires trading fees and tx fees.

[madrinos]

if people have collateral why bother loan
makes no sense.

but good luck

When I started reading more....I started asking myself the same question.

Example:
Say a person requires 2 btc loan and the person requires 100% collateral in an altcoin or such.
The lendee gets the equivalent amount of BTC in LTC as collateral.
Why wouldn't the lendee just try to convert LTC to BTC instead??

Please excuse my ignorance.


Sidenote: For the second time in my PP's account history.....I have opened a dispute for a bitcoin related purchase......And for reference, Paypal did refund last time I was scammed, albeit it years ago.

First, because you believe in LTC and think that its value will rise. Second, trading requires trading fees and tx fees.

Ah, I see.
An altcoin collateral tied loan would make no sense in my situation.

[byt411]

if people have collateral why bother loan
makes no sense.

but good luck

When I started reading more....I started asking myself the same question.

Example:
Say a person requires 2 btc loan and the person requires 100% collateral in an altcoin or such.
The lendee gets the equivalent amount of BTC in LTC as collateral.
Why wouldn't the lendee just try to convert LTC to BTC instead??

Please excuse my ignorance.


Sidenote: For the second time in my PP's account history.....I have opened a dispute for a bitcoin related purchase......And for reference, Paypal did refund last time I was scammed, albeit it years ago.

First, because you believe in LTC and think that its value will rise. Second, trading requires trading fees and tx fees.

Ah, I see.
An altcoin collateral tied loan would make no sense in my situation.

Someone lending to a newbie without collateral wouldn't make any sense either.

[Sydboy]

It makes me no sense in my eyes.
Use USD to buy what ever you want.
why pay interest if you do not have to.

[Killerloop]

It makes me no sense in my eyes.
Use USD to buy what ever you want.
why pay interest if you do not have to.

Because:

1) He can chargeback you
2) He offers to pay a % of the loan, running away and making a profit
3) He is legit with not enough USD to do what he wants.

Choose what you like most, either way a loan isn't gonna happen.

[madrinos]

if people have collateral why bother loan
makes no sense.

but good luck

When I started reading more....I started asking myself the same question.

Example:
Say a person requires 2 btc loan and the person requires 100% collateral in an altcoin or such.
The lendee gets the equivalent amount of BTC in LTC as collateral.
Why wouldn't the lendee just try to convert LTC to BTC instead??

Please excuse my ignorance.


Sidenote: For the second time in my PP's account history.....I have opened a dispute for a bitcoin related purchase......And for reference, Paypal did refund last time I was scammed, albeit it years ago.

First, because you believe in LTC and think that its value will rise. Second, trading requires trading fees and tx fees.

Ah, I see.
An altcoin collateral tied loan would make no sense in my situation.

Someone lending to a newbie without collateral wouldn't make any sense either.

Semi-agreeable statement.
Depending on the situation, I think the word that better fits is irrational....So, its maybe lacking clear or concise sense, but certainly not completely void of sense.
And I say that because lending is a situational thing and can vary if the lender is amenable to an extent.

[BiPolarBob]

dem trolls dem trolls. have no fear madrinos, BiPolarBob is here! post your wallet addy and I'll have 0.1 BTC to you soon!

[madrinos]

BiPolarBob, I PMd you. If you are serious, I ask what are the terms of repayment?

[BiPolarBob]

good 'ol BiPolarBob will do:

- no interest
- no collateral
- 2 weeks repayment is fine

please post your wallet so I can send the BTC to you

[madrinos]

1BNwjK1z6Pg4PELfqxq1FgGyFeL1rtwFTW

[BiPolarBob]

BTC0.1 is yours!!  https://blockchain.info/tx-index/1679dd11cf4aaf1527be4c5f990a2bf0a484242c0226eeb96f26ce4af1b46ab5

[madrinos]

https://blockchain.info/tx/1679dd11cf4aaf1527be4c5f990a2bf0a484242c0226eeb96f26ce4af1b46ab5

This shows BiPolarBob sent me .1 btc
I hereby agree to repayment within a maximum period of 2 weeks, in which no interest will be incurred and with no collateral obligation.

[acs267]

I'm really asking myself why the hell a Newbie would loan another Newbie that much money. Why would he decide to randomly loan someone with 12 activity $59.55? And he himself has 7 activity, showing he didn't register too long ago, either?

Am I over thinking it, or not?