Interested in borrowing 15,000 to 25,000 LTC at 1% per week.

[DeathAndTaxes]

Willing to escrow 50% of face value in BTC with trusted third party to provide a partial guarantee.
Loan is interest only with simple interest paid monthly.  Loan can be repaid at anytime.   Lender can call note after 90 days with 30 days notice.

[smoothie]

After reading it twice i'm still not clear on what you're doing.

So you're holding BTC but the loan is denominated in LTC?

 

[DeathAndTaxes]

No loan is in LTC, only in LTC.  Interest is in LTC, repayment in LTC. 

I feel I have pretty good rep but if someone wants to I am willing to post COLLATERAL IN BTC worth 50% of loaned amount in escrow with a reputable third party.  i.e. I turn into a scammer dirtbag they collect the BTC collateral. 

[smoothie]

No loan is in LTC, only in LTC.  Interest is in LTC, repayment in LTC. 

I feel I have pretty good rep but if someone wants to I am willing to post COLLATERAL IN BTC worth 50% of loaned amount in escrow with a reputable third party.  i.e. I turn into a scammer dirtbag they collect the BTC collateral. 

I see.

My guess is your plan is to trade LTC? Arbitrage? In the near term LTC is gonig downwards. Nice plan.

[ElectricMucus]

No loan is in LTC, only in LTC.  Interest is in LTC, repayment in LTC. 

I feel I have pretty good rep but if someone wants to I am willing to post COLLATERAL IN BTC worth 50% of loaned amount in escrow with a reputable third party.  i.e. I turn into a scammer dirtbag they collect the BTC collateral. 

I see.

My guess is your plan is to trade LTC? Arbitrage? In the near term LTC is gonig downwards. Nice plan.

My guess is he thinks driving it even lower is possible, then buying it back after it hit the bottom.

[pyra-proxy]

No loan is in LTC, only in LTC.  Interest is in LTC, repayment in LTC. 

I feel I have pretty good rep but if someone wants to I am willing to post COLLATERAL IN BTC worth 50% of loaned amount in escrow with a reputable third party.  i.e. I turn into a scammer dirtbag they collect the BTC collateral. 

I see.

My guess is your plan is to trade LTC? Arbitrage? In the near term LTC is gonig downwards. Nice plan.

My guess is he thinks driving it even lower is possible, then buying it back after it hit the bottom.

i.e. shorting 

[420]

wont loan to you just so u can sell

[cunicula]

Are you shorting PPCoin too? I would lend you some at 1% per week. Though I probably don't have enough to satisfy your demand. Perhaps other people can chip in?

[ElectricMucus]

Well problem is shorting by announcing it this way can have the opposite effect - see pirate...

[DeathAndTaxes]

wont loan to you just so u can sell

Well that shows a lack of faith in the fundamentals.  Shorting is common in any financial environment.  It isn't my intend to drive the price down.  I just believe the price will fall.  If it doesn't the lender benefits from both price appreciation and interest.  If it does the interest reduces the loss from the price decline.

Anyways the offer is an open one.  If anyone is a long term holder who actually has conviction in their holding (and not just looking for a quick pump and dump) drop me a PM.

[DeathAndTaxes]

My guess is he thinks driving it even lower is possible, then buying it back after it hit the bottom.

I have no intent to drive the price lower.  That is a common fallacy.  When someone buys (long) LTC (or BTC or Gold) does it mean they are trying to drive the price up.  It is simply taking a position.  If you are long and the asset appreciates (and would have appreciated even if you weren't long) then you profit and if it declines you take a loss.  When short the reverse is true.  I believe that regardless of if I personally short LTC or not the price will decline over the next 90 days.  If it does (and I get this loan) then I win.  If it doesn't then I lose.

Nothing more complicated then that.

[cunicula]

I take it you are not looking to short PPC then. Too bad was hoping to earn some interest.

[DeathAndTaxes]

I take it you are not looking to short PPC then. Too bad was hoping to earn some interest.

Someday maybe.  PPC is too new.  It could go up from here but still go nowhere (or it could go to the moon).

[sangaman]

I take it you are not looking to short PPC then. Too bad was hoping to earn some interest.

On the bright side, technically you are earning interest with ppcoins already.

BTW if I thought there was a 1000% (or very close to it) chance of being repaid and I could get my hands on 15k+ litecoins without too much trouble I would do this. Maybe if you put up 100% collateral in bitcoins.

[ElectricMucus]

My guess is he thinks driving it even lower is possible, then buying it back after it hit the bottom.

I have no intent to drive the price lower.  That is a common fallacy.  

riiight...
May I call you "Little Soros" from now on?  

Oh I forgot you probably have me on ignore again after my last thread.

[Tomatocage]

Where did PPCoin come into this convo?

[420]

so you borrow 15,000 LTC and in one week you pay 150 ltc in interest?

how long do u need principle, minimum 90 days and within 30 days of wanting money back? if thats what ur terms mean

[btcash]

Why don't set up a bond on LTC-Global?

[ElectricMucus]

Why don't set up a bond on LTC-Global?

He'd never get that much publicity.
You have to know: I called on the LTC-haters recently that the only way for them to drive down the price is buy high and sell low which costs them money. DnT probably thinks he can "prove me wrong".
Nevertheless he'd probably say that has nothing to do with it

[420]

Why don't set up a bond on LTC-Global?

He'd never get that much publicity.
You have to know: I called on the LTC-haters recently that the only way for them to drive down the price is buy high and sell low which costs them money. DnT probably thinks he can "prove me wrong".
Nevertheless he'd probably say that has nothing to do with it

can you link me to your specific post on that?