Looking for a 3 BTC loan

[Zack]

Currently looking for a loan of 15 BTC, to pre-order a third jalapeno from BFL. I will return a total of 17-18 BTC, on December 1st. I understand most of you are thinking BFL isn't accurate with their shipping times, however when I receive the machine has nothing to do with you getting your return.

EDIT 9/17/12: Received 12 BTC from a close friend, only 3 needed now.

[1713533836]

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[1713533836]

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[1713533836]

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[solareclipse64236]

LMAO ME TOO, what a coincidence or are you just biting my story?

[legolouman]

Currently looking for a loan of 15 BTC, to pre-order a third jalapeno from BFL. I will return a total of 17-18 BTC, however I can't give an exact date. Why is this? because I can't give an exact date of when I will receive the machines from BFL. Even though they say pre-orders will begin shipping from late October-Early November I'm almost sure that date will be pushed back. If I receive the machines mid November, I will give a return of 17 BTC December 15th, 2012. If I receive the machine mid december, I will return 18 BTC on January 15th 2013.

I don't mean to look like the bad guy, but your calculations and math are under the assumption that:

• The difficulty stays the same (which it won't when ASIC's come out, making your 1.5Ghash more like 150 mhash today. This assumes difficulty changes by 10x)
• The block reward stays the same, which it won't. It will be halving soon.

[solareclipse64236]

wtf? YOUR MATH is off

Even if the block did halve or the difficulty goes up he would still be able to repay such a small loan lmao

3 jalapenos = 10.5 gigahash, under today's circumstances that is like $15k a year or $40 a day. After block halves it will be $7-8k a year or $20 a day.

Even if the difficulty+block halving reduces his earnings to $1k per year then he would still be able to pay back.

What is your logic like?

[Zack]

Currently looking for a loan of 15 BTC, to pre-order a third jalapeno from BFL. I will return a total of 17-18 BTC, however I can't give an exact date. Why is this? because I can't give an exact date of when I will receive the machines from BFL. Even though they say pre-orders will begin shipping from late October-Early November I'm almost sure that date will be pushed back. If I receive the machines mid November, I will give a return of 17 BTC December 15th, 2012. If I receive the machine mid december, I will return 18 BTC on January 15th 2013.

I don't mean to look like the bad guy, but your calculations and math are under the assumption that:

• The difficulty stays the same (which it won't when ASIC's come out, making your 1.5Ghash more like 150 mhash today. This assumes difficulty changes by 10x)
• The block reward stays the same, which it won't. It will be halving soon.

I'm sorry - I suppose I should have specified in my OP that the return on the loan won't have anything to do with how much I make with the machines, it's simply a loan to to get me an extra one to start. If I make enough with the machines then sure, I can return with those BTC's, however the loan will be returned at a minimum of 17 BTC regardless of how much I actually earn from mining with them.

[legolouman]

wtf? YOUR MATH is off

Even if the block did halve or the difficulty goes up he would still be able to repay such a small loan lmao

3 jalapenos = 10.5 gigahash, under today's circumstances that is like $15k a year or $40 a day. After block halves it will be $7-8k a year or $20 a day.

Even if the difficulty+block halving reduces his earnings to $1k per year then he would still be able to pay back.

What is your logic like?

Currently,

3.5 Ghash is 13.07BTC a day.
Let's assume the difficulty jumps, say 10 times.
26940479.5296 * 10 = 26940479.5296
His daily mining reward on that will be 1.31BTC daily.
Now, let's half that.
1.31 / 2 = .655BTC daily.

18 / .655 = ~28 days

He will default on his loan if these situations occur, and my math is correct.

EDIT:

I'm sorry - I suppose I should have specified in my OP that the return on the loan won't have anything to do with how much I make with the machines, it's simply a loan to to get me an extra one to start. If I make enough with the machines then sure, I can return with those BTC's, however the loan will be returned at a minimum of 17 BTC regardless of how much I actually earn from mining with them.

Ohhh, I'm sorry. I assumed (With the newbie-ish title, and the content of the OP) that you will be paying back with the Jalepeno. Sorry.

[solareclipse64236]

LMFAO what are you talking about?

This is the most accurate calculator I've found:
https://bitclockers.com/calc

And according to IT, 3.5 gigahash = 1.3 BTC DAILY ALREADY

Where the heck are you getting 13 BTC?

[Zack]

wtf? YOUR MATH is off

Even if the block did halve or the difficulty goes up he would still be able to repay such a small loan lmao

3 jalapenos = 10.5 gigahash, under today's circumstances that is like $15k a year or $40 a day. After block halves it will be $7-8k a year or $20 a day.

Even if the difficulty+block halving reduces his earnings to $1k per year then he would still be able to pay back.

What is your logic like?

Currently,

3.5 Ghash is 13.07BTC a day.
Let's assume the difficulty jumps, say 10 times.
26940479.5296 * 10 = 26940479.5296
His daily mining reward on that will be 1.31BTC daily.
Now, let's half that.
1.31 / 2 = .655BTC daily.

18 / .655 = ~28 days

He will default on his loan if these situations occur, and my math is correct.

EDIT:

I'm sorry - I suppose I should have specified in my OP that the return on the loan won't have anything to do with how much I make with the machines, it's simply a loan to to get me an extra one to start. If I make enough with the machines then sure, I can return with those BTC's, however the loan will be returned at a minimum of 17 BTC regardless of how much I actually earn from mining with them.

Ohhh, I'm sorry. I assumed (With the newbie-ish title, and the content of the OP) that you will be paying back with the Jalepeno. Sorry.

Not a problem, was my fault, should have mentioned it in my OP. However there is a small error with your math, with those calculations, you assuming I am running one jalapeno, when this would be my third unit.

[solareclipse64236]

lmao yessss just one ahahaha

try to use a calculator at some point kids

[556j]

The easiest way to guess revenue for these, especially with late orders is to assume a similar dollar per btc/day as today, maybe even worse since so many people think they will get rich off ASIC. So 3x jalapeno is $450 or 75% of one BFL single (fpga). So you can expect to make 0.225 BTC / day before the block reward half or ~ 0.11625 BTC / day after the reward halves for all 3 jalapeno.

[Zack]

The easiest way to guess revenue for these, especially with late orders is to assume a similar dollar per btc/day as today, maybe even worse since so many people think they will get rich off ASIC. So 3x jalapeno is $450 or 75% of one BFL single (fpga). So you can expect to make 0.225 BTC / day before the block reward half or ~ 0.11625 BTC / day after the reward halves for all 3 jalapeno.

Pretty much the same calculations I came up with.

[Zack]

Still in need of this, want to order the third as soon as I can so it's not so far behind my others when it comes to shipping.

[legolouman]

wtf? YOUR MATH is off

Even if the block did halve or the difficulty goes up he would still be able to repay such a small loan lmao

3 jalapenos = 10.5 gigahash, under today's circumstances that is like $15k a year or $40 a day. After block halves it will be $7-8k a year or $20 a day.

Even if the difficulty+block halving reduces his earnings to $1k per year then he would still be able to pay back.

What is your logic like?

Currently,

3.5 Ghash is 13.07BTC a day.
Let's assume the difficulty jumps, say 10 times.
26940479.5296 * 10 = 26940479.5296
His daily mining reward on that will be 1.31BTC daily.
Now, let's half that.
1.31 / 2 = .655BTC daily.

18 / .655 = ~28 days

He will default on his loan if these situations occur, and my math is correct.

EDIT:

I'm sorry - I suppose I should have specified in my OP that the return on the loan won't have anything to do with how much I make with the machines, it's simply a loan to to get me an extra one to start. If I make enough with the machines then sure, I can return with those BTC's, however the loan will be returned at a minimum of 17 BTC regardless of how much I actually earn from mining with them.

Ohhh, I'm sorry. I assumed (With the newbie-ish title, and the content of the OP) that you will be paying back with the Jalepeno. Sorry.

Not a problem, was my fault, should have mentioned it in my OP. However there is a small error with your math, with those calculations, you assuming I am running one jalapeno, when this would be my third unit.

Oh, I missed that. I'm going to go cry in a corner now that I look like an imbecile.

[Zack]

Still needed. Would have no problem offering up collateral/Photo ID.

[nave]

If you're not using the hardware to pay off the loan, then why would I have to wait until you have the hardware for the loan to be paid back?

Also what if you don't get your unit until April 2013 or later?

[Zack]

If you're not using the hardware to pay off the loan, then why would I have to wait until you have the hardware for the loan to be paid back?

Also what if you don't get your unit until April 2013 or later?

Edited my OP which should answer both of those questions.

EDIT: Only 3 BTC needed now.

[AForceNinja]

Lent 3 BTC to Zack, address: 1AaMmDNAt9vvU7dRPKZy7rFuWqM9X4FjGX
tx id: e7344a07cd2fc6fb406a61c3f53c43f71fd3f4a75b2d9c2674c29fcd014b6398

Will pay back 4BTC to address: 1L1kzpaFWEGr9BLAfNnzykLS7evLPZc3bf

Loan will be repayed on or before 01 Nov 2012

[Zack]

Lent 3 BTC to Zack, address: 1AaMmDNAt9vvU7dRPKZy7rFuWqM9X4FjGX
tx id: e7344a07cd2fc6fb406a61c3f53c43f71fd3f4a75b2d9c2674c29fcd014b6398

Will pay back 4BTC to address: 1L1kzpaFWEGr9BLAfNnzykLS7evLPZc3bf

Loan will be repayed on or before 01 Nov 2012

Confirmed.

[AForceNinja]

No Payment or Contact since....

[Vod]

$50 is a lot of money to some people.  They are willing to put in the time.  

At the same time he scammed you he got another forum user for 3btc as well.
https://bitcointalk.org/index.php?topic=103840