Loan request for mining equip Closed - Complete

[jasinlee]

After weighing pros and cons I have come to the conclusion that I would rather get loans and then promptly pay them off. I would like to secure 4 to 5 more loans to bring my total to 300 so I can get started. I would like a 4 month loan total and to work out a fair interest rate please pm me.

Current loans :

Patrick - 9/18 will be paid in full, eliminating the last of my outstanding debt, this was for an unrelated project(s). Paid. No more outstanding debt.
Patrick - one closed loan from patrick already


Nebulus - 50btc - Received and confirmed. - Repaid
Eisenhower34 - 50btc - Received and Confirmed. - Repaid
Psychoticboy - 25btc - Received and confirmed. - Repaid 5ea31cabe4f623df44d2a514aeba94c214726b61f26437f75a871cf96b44bcf02012

I will continue to save from my mtgox trading account so eventually I will have all the btc on my own, but would like to do this faster so PM me with questions or reply here. I will of course accept more as it would only speed up the mining operation process, but this should cover all the initial costs.

I will operate at a loss untill all lenders are paid which is why I have posted 4 months, that is what my estimates put the timeline at currently.


Completed - Repaid.

[jasinlee]

https://bitcointalk.org/index.php?topic=109203.0

I support this method to prove identity.

[eroxors]

What equipment are you seeking? If GPUs, what is your liquidation strategy?

[jasinlee]

Any equipment that would be obsolete once the asics start to ship will be moved to alternate currencies, there are several worthy ones up and coming. Beyond that if it becomes necessary to liquidate the operation, I work with a computer repair company locally who will resell them as part of "complete" systems and work them into the pricing. I would be able to recoup all the cost of the gpus without an issue if not profit on them. I do not plan to move everything into asics until they are proven to be working as estimated by the BFL. Once they are I will then sell half of the gpus to cover the cost of splitting my operation into asics and fpgas.

[nebulus]

Can you please tell us more about your mining operation?

What kind of equipment are you looking into?
What pool are planning to mine with?

[AndyRossy]

Patrick - one closed loan from patrick already

Does this mean you've had a loan from patrik and repaid, or, he's agreed to loan for this an anonymous amount/rate?

[vuce]

Any equipment that would be obsolete once the asics start to ship will be moved to alternate currencies, there are several worthy ones up and coming.

You have heard of merged mining, right?

[jasinlee]

I had 2 loans with him for my previous project, which is now finished, the first loan is repaid, second one is to be repaid on the 18th.

[jasinlee]

Any equipment that would be obsolete once the asics start to ship will be moved to alternate currencies, there are several worthy ones up and coming.

You have heard of merged mining, right?

Yes, but I do not want a bunch of down time in the off chance that BFL decides to take their sweet time with shipments. I would like to be working in the interim. Also, I will probably be supporting devcoins on merged mining.

[Eisenhower34]

Could you mention the sizes of the loans you had from Patrick? Regarding this information and the availability of an ID or passport together with a proof of residence like gas / electricity / telephone bill, i would fund 50 to 100 BTC. Rate would be 10% per month.

Edit: Hm, just read it again, and you mention 4 months. That a long time and ASICS / FPGAS / half-btc-per-block things might "rise the difficutly". Do you have other income, too? So I could be sure that you can pay off your debts even in case your "project" doesnt work out as planned?

[jasinlee]

I actually dont remember the first amount, the current one was 40, patrick can probably tell you though, he has my permission. And yes, I work, I am employed by the phone company.  I have the loan setup for 4 months due to my tax return coming in in January, if something comes up and I dont have liquidity at the time, I will turn around and pull it from my tax return which is generally around 8-12k.

[AndrewBUD]

Holy jumping jesus, 8-12k tax return.... that be crazy... My wife and I work full time... and we only get about 2k

[jasinlee]

Yeah you gotta put the work in, and my wife does not have a job, then have 3 kids for the tax credit. I pay like no taxes so it works out

[AndrewBUD]

Yeah you gotta put the work in, and my wife does not have a job, then have 3 kids for the tax credit. I pay like no taxes so it works out

Well good for you,, ,That is great

[jasinlee]

Makes it nice when once a year you need to pull off one big purchase that is for sure.

[AndrewBUD]

Makes it nice when once a year you need to pull off one big purchase that is for sure.

We have 1 little boy..... Just turned 2 years old a couple weeks ago.... He was diagnosed Type 1 Diabetic at about 16 months old.... Was a huge scare.. But it's a part of our life now Sorry for the off topic reply... I just think good of people that have children and work hard to take care of them



 

[jasinlee]

Wow, sorry to hear that, most of the people I grew up with that had diabetes as a child though generally are fine once they got used to it, most of them got that little beeper sized pump and were good from then on. We were fortunate enough to not have any problems with any of the kids yet, hopefully it stays that way. With 1 kid if you itemize you could probably get 3-4k if you save your receipts. Its a pain but I like to do it it gets me a fat stack of cash at years end.

[AndrewBUD]

Wow, sorry to hear that, most of the people I grew up with that had diabetes as a child though generally are fine once they got used to it, most of them got that little beeper sized pump and were good from then on. We were fortunate enough to not have any problems with any of the kids yet, hopefully it stays that way. With 1 kid if you itemize you could probably get 3-4k if you save your receipts. Its a pain but I like to do it it gets me a fat stack of cash at years end.

I hear ya ... So far he's too young to have a pump.... but maybe in a couple years

[Shadow383]

Makes it nice when once a year you need to pull off one big purchase that is for sure.

We have 1 little boy..... Just turned 2 years old a couple weeks ago.... He was diagnosed Type 1 Diabetic at about 16 months old.... Was a huge scare.. But it's a part of our life now Sorry for the off topic reply... I just think good of people that have children and work hard to take care of them

If it's anything, given all the research in the pipeline it's entirely likely that he'll be cured of it (at least to a reasonable extent) by the time he's an adult 

[Eisenhower34]

Loaning 50 BTC @ 10% interest for 4 months. Repayment Jan 15th 2013
Transactionid: c184b4d08882c68e18d2349483849297cb76bd3126b2e28d0fd47140b79d5ee6