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Author Topic: 3000-6000 BTC loan - Hookah Lounge - 9/18/12 Update  (Read 54484 times)
repentance
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October 05, 2012, 07:07:47 AM
 #861

Holy fuck.  Even a teenager with no income source other than pocket money from their parents should be able to pay back amounts averaging out to $12 a week over the course of a year.  Your ability to pay back short-term pay-day style loans of small amounts (and $1000 is a small loan) does not speak to your ability to pay back large loans over a longer period of time.  

The fact that you need short-term, pay-day style loans in order to meet your living expenses makes you a substantial risk regardless of whether you've paid back in the past.  Either you can't budget properly or your income is grossly inadequate for your needs - and either of those things make you likely to default in the long term.  You likely haven't lived on your own long enough yet to realise that sudden, unexpected expenses happen quite frequently in adult life.  If you can't even meet your basic living expenses without using borrowed money, how on earth are you going to service your debt when some major unexpected expense comes along?  What about when one of your "investments" goes bad?  Conventional loans often have income protection insurance built into the loan and hardship provisions which can be invoked in the event of you suddenly finding yourself without an income.

There's a reason why conventional lenders generally want two years worth of proof of income from self-employed people before they'll consider lending them any significant amount of money - you might want to think about why that's the case.

As a reference point, my daughter was able to get an unsecured personal loan for $10,000 at age 18 with no co-signer.  She was working a shitty, low paying job at the time but what the bank looked at was that she'd been consistently employed since she was 16, even if some of her jobs were crappy , part-time McJobs and could easily afford the repayments.  When she went to buy her first car last year, she didn't even have to take out a car loan - she just took out another personal loan for the car so she owns it outright.  She's also had no trouble getting credit cards approved.

Don't tell me that no-one lends to 18 year olds with no credit history because it's simply not true.  What they want is evidence that you can service the debt.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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October 08, 2012, 08:31:10 AM
 #862

Hi there, I want to share some experiences from an outside view.

Recently a hooka lounge in my city opened, no major colleges, etc.. Just not a lot to do.

I went, it wasn't that big of a place, but it was decent space.

When I went the lounge was open for 2-3 weeks previous.

To get in was $5, hookas were $10, and refills were $5.
They had novelty hookas which were $15 or $20 I cant remember, hookas that popped more than others, dragons for designs etc.
They also did charges for things like milk instead of water for $2, ice in water/milk for $1-2 etc


They had a 3 person per hookah rule, with each seat being a couch, with a rectangle table.


It seemed almost everyone had a hookah, they were doing pretty good with hookah rentals. I myself spent about ~$50 for the night.
Pool tables, darts, etc were being played.

It seemed as if the lounge attracted younger audiences, 18-24


Good luck, hopefully any information I posted will be of use.

repentance
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October 08, 2012, 09:15:08 AM
 #863

Too late I'm afraid.  dank's decided that opening a hookah lounge would take too much time away from his guitar practice.  He's currently seeking donations to organise the world's biggest music festival.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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October 08, 2012, 05:50:27 PM
 #864

Thanks for the post, farlack.

Repentance, I didn't decide that, fate did.  I'm not even seeking donations, two parties chose to donate to me.  The hookah lounge will come, when the time is right.

13oZY8zzWEp48XZpEEi8zSkYJF5AWR2vXc DMhYmNzMnU2Avgu7sF3GSDybHumj8XH8V8
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evolve
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October 08, 2012, 07:26:50 PM
 #865

Thanks for the post, farlack.

Repentance, I didn't decide that, fate did.  I'm not even seeking donations, two parties chose to donate to me.  The hookah lounge will come, when the time is right.

Im guessing the "two parties" were your parents, and the "donation" was your allowance.
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October 08, 2012, 07:36:47 PM
 #866

Thanks for the post, farlack.

Repentance, I didn't decide that, fate did.  I'm not even seeking donations, two parties chose to donate to me.  The hookah lounge will come, when the time is right.

Im guessing the "two parties" were your parents, and the "donation" was your allowance.

I'm guessing he is lying.  Bad Karma for him.

Who in their right mind would give him over $4,000USD?  Seriously?

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
I will ignore your Prayer Messages unless you donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
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October 08, 2012, 07:58:16 PM
 #867

I never said anything about $40k, mlawrence.

Evolve, one of the parties was my parents, yes.  The other one, I don't even know, I just got a check, out of nowhere.

13oZY8zzWEp48XZpEEi8zSkYJF5AWR2vXc DMhYmNzMnU2Avgu7sF3GSDybHumj8XH8V8
Currently seeking plot of land to host 1,000,000+ person music festival
Dankmusic - Hear the impossible, feel the impossible, be the impossible dankmusic.org dankcoin.org
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October 08, 2012, 08:16:48 PM
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I never said anything about $40k, mlawrence.

Evolve, one of the parties was my parents, yes.  The other one, I don't even know, I just got a check, out of nowhere.

Ah, you did say $4200, not 4200BTC.  Ok then.

Still don't believe someone would waste money on someone with no talents, no skills and no goals.

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
I will ignore your Prayer Messages unless you donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
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dank
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October 08, 2012, 08:27:17 PM
 #869

Because becoming a great musician is not a goal..

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Dankmusic - Hear the impossible, feel the impossible, be the impossible dankmusic.org dankcoin.org
fgervais
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October 08, 2012, 10:37:08 PM
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I never said anything about $40k, mlawrence.

Evolve, one of the parties was my parents, yes.  The other one, I don't even know, I just got a check, out of nowhere.

Also, since I skipped over this, fucking lol. Got a check out of no where for a couple of thousand dollars?

Let me guess, karma, and you're not even going to try to figure out what the fuck.
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October 08, 2012, 10:41:17 PM
 #871

I did, it doesn't matter.

13oZY8zzWEp48XZpEEi8zSkYJF5AWR2vXc DMhYmNzMnU2Avgu7sF3GSDybHumj8XH8V8
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Dankmusic - Hear the impossible, feel the impossible, be the impossible dankmusic.org dankcoin.org
fgervais
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October 08, 2012, 10:54:05 PM
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I did, it doesn't matter.

So, what was it? Parents signed you up for invalid benefits?
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October 09, 2012, 01:52:01 AM
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Becoming a great musician isn't a goal, it's a dream that every teenager has for a time after picking up his first guitar, except most of them have a better ear for it than you.
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October 09, 2012, 02:32:51 AM
 #874

I had this dream before picking up my first guitar.  I know it will happen.

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Dankmusic - Hear the impossible, feel the impossible, be the impossible dankmusic.org dankcoin.org
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October 09, 2012, 03:14:54 AM
 #875

So when you do start taking lessons then?
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October 09, 2012, 03:19:26 AM
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Because becoming a great musician is not a goal..

It is a goal.  But it's not an achievable goal for you.  At least, not unless you're willing to go back on your meds.  Then you might actually be able to sustain your plans.
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October 09, 2012, 03:23:21 AM
 #877

So when you do start taking lessons then?

Who needs lessons when you can connect with Hendrix on the cosmic plane and channel his soul through your body?

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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October 09, 2012, 04:31:25 AM
 #878


"Money is like manure: Spread around, it helps things grow. Piled up in one place, it just stinks."
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October 10, 2012, 08:19:57 AM
 #879

I had this dream before picking up my first guitar.  I know it will happen.

So you picked up a guitar three months ago, although you had this dream before?

When was the Hookah Lounge dream? Before or after the guitar? Before or after you came up with your ponzi?

Tell us, Dank, how much research that those of us in the thread recommended you do have you actually done?

Or are you still complaining that it was all the negative vibes we all put out that caused your Hookah Lounge to vanish?

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