Smallism loan request

[ThaddeusB]

First off, I understand full well that I am new and therefore expect skepticism.   If no one wants to lend to me, I am OK with that, but I figured I would give it a try...

Reason for loan:  I just learned about bitcoins a couple days ago and am very excited about the currency.  I want to get started "wheeling and dealing" ASAP.  I have started to dwolla->mtgox->bitcoins process, but I guess it will take 7 days or so.  I will be depositing at least US$500 once my accounts are verified.  I could get coins quickly with bitinstant, but their fee would be 3.5% or so, which is unacceptable to me.  Thus I figured I'd give the forum a chance.

Requested loan:  I am thinking 10BTC should be enough to satiate my appetite for quick action.  I will repay as soon as I get my cash deposit approved and converted to bitcoins.  I estimate this will take 7 days, but would like the loan term to be 14 days in case there are any delays.  I will offer 2% interest for the service.  I will consider a smaller amount, if necessary.  If I don't get the loan within 2-3 days, I will simply wait for my funds to become usable

Why you should consider this loan:  I am a long time lender on sbrforum.com (under the same username as here), so I understand newbie loans are usually high risk.  I have 60,000+ points there, which are worth rough 7¢ each.  (http://store.sbrforum.com/points/log/ThaddeusB + http://forum.sbrforum.com/feeds/ads/keys/bookPoints.php?subdomain=ThaddeusB to verify)  I am an administrator on Wikipedia, which implies community trust.  I am also willing to provide via PM whichever of these things a potential lender finds relevant:

*Scan of ID
*Proof of address (scan of bill)
*I am a semi-professional gambler (by which I mean, I make money at it, but it is not my sole source of income), and can provide screen-shots of a couple account balances showing $50,000 of funds online.  [Or can load balance to a poker table as demonstration.]
*A signed promissory note

Will also consider any other verification requested.

Thanks for your consideration,
Thaddeus

[Stephen Gornick]

I have started to dwolla->mtgox->bitcoins process, but I guess it will take 7 days or so.

Well, not quite.  Last May Dwolla has instituted a 30-day probationary period for newly verified accounts.  Once you have your bank account verified (i.e,. you've confirmed the amounts of the two test deposits they send to you), another thirty days must pass before you can use any of those funds for transfer to a high-risk merchant, of which Mt. Gox, Camp BX and BitInstant (the only exchanges that accept Dwolla directly) are considered.    

You might be able to find someone willing to exchange their Bitcoins for your Dwolla USDs though even some individuals are on the "high risk" list for their active trading with exchanges.

I want to get started "wheeling and dealing" ASAP.

You can lock in a purchase at today's rate through Coinbase.  Using their Instant verification (of your bank account), you can then place an order for some coins.  They will sit with a "hold" status until the ACH bank transfer clears after three to five business days, but the coins are already bought at the price that existed when you placed the order.

Another method you might consider is to deposit cash at any Chase location for credit to your BitMe account.  
  - http://www.BitMe.com

I could get coins quickly with bitinstant, but their fee would be 3.5% or so, which is unacceptable to me.

With Bitcoin's volatility, oftentimes the acquisition costs to obtain coins immediately are much less than the increase in the exchange rate in acquiring coins days later.  Of course, nobody knows when or which direction even the exchange rate will move but for reference, in the last dozen days of both 2010 and 2011 the exchange rate went up significantly more than 3.99%.

[🏰 TradeFortress 🏰]

First off, I understand full well that I am new and therefore expect skepticism.   If no one wants to lend to me, I am OK with that, but I figured I would give it a try...

Reason for loan:  I just learned about bitcoins a couple days ago and am very excited about the currency.  I want to get started "wheeling and dealing" ASAP.  I have started to dwolla->mtgox->bitcoins process, but I guess it will take 7 days or so.  I will be depositing at least US$500 once my accounts are verified.  I could get coins quickly with bitinstant, but their fee would be 3.5% or so, which is unacceptable to me.  Thus I figured I'd give the forum a chance.

Requested loan:  I am thinking 10BTC should be enough to satiate my appetite for quick action.  I will repay as soon as I get my cash deposit approved and converted to bitcoins.  I estimate this will take 7 days, but would like the loan term to be 14 days in case there are any delays.  I will offer 2% interest for the service.  I will consider a smaller amount, if necessary.  If I don't get the loan within 2-3 days, I will simply wait for my funds to become usable

Why you should consider this loan:  I am a long time lender on sbrforum.com (under the same username as here), so I understand newbie loans are usually high risk.  I have 60,000+ points there, which are worth rough 7¢ each.  (http://store.sbrforum.com/points/log/ThaddeusB + http://forum.sbrforum.com/feeds/ads/keys/bookPoints.php?subdomain=ThaddeusB to verify)  I am an administrator on Wikipedia, which implies community trust.  I am also willing to provide via PM whichever of these things a potential lender finds relevant:

*Scan of ID
*Proof of address (scan of bill)
*I am a semi-professional gambler (by which I mean, I make money at it, but it is not my sole source of income), and can provide screen-shots of a couple account balances showing $50,000 of funds online.  [Or can load balance to a poker table as demonstration.]
*A signed promissory note

Will also consider any other verification requested.

Thanks for your consideration,
Thaddeus

Please show me proof that you are an administrator on Wikipedia and I'll be happy to lend you 10 btc straight out, at the interest rate of 2% / week (depending on how long it takes for you to pay it off). PM if interested.

[ThaddeusB]

I have started to dwolla->mtgox->bitcoins process, but I guess it will take 7 days or so.

Well, not quite.  Last May Dwolla has instituted a 30-day probationary period for newly verified accounts.  Once you have your bank account verified (i.e,. you've confirmed the amounts of the two test deposits they send to you), another thirty days must pass before you can use any of those funds for transfer to a high-risk merchant, of which Mt. Gox, Camp BX and BitInstant (the only exchanges that accept Dwolla directly) are considered.   

You might be able to find someone willing to exchange their Bitcoins for your Dwolla USDs though even some individuals are on the "high risk" list for their active trading with exchanges.

I want to get started "wheeling and dealing" ASAP.

Well, you can lock in a purchase at today's rate through Coinbase.  Using their Instant verification, you can then place an order for some coins.  They will sit with a "hold" status until the ACH bank transfer clears after three to five business days, but they were already bought at the price when you placed the order.

Another method you might consider is to deposit cash at any Chase location for credit to yourr BitMe account. 
  - http://www.BitMe.com

I could get coins quickly with bitinstant, but their fee would be 3.5% or so, which is unacceptable to me.

With Bitcoin's volatility, oftentimes the acquisition costs to obtain coins immediately are much less than the increase in the exchange rate in acquiring coins days later.  Of course, nobody knows when or which direction even the exchange rate will move but for reference, in the last dozen days of both 2010 and 2011 the exchange rate went up significantly more than 3.99%.

Thanks for the info.  I was unaware of the 30 day wait at Awolla - that certainly would have been embarrassing if I took out a loan and couldn't repay for 30 days when I promised 7-14. 

I will look into Coinbase; thanks for the suggestion.

Thaddeus

[🏰 TradeFortress 🏰]

Sent 10 BTC! Loan ID 1 here: https://docs.google.com/spreadsheet/ccc?key=0AnQyVAskGw8xdFREc2FLeWRNUFZ6bEhyNTRaMGlVMXc

[ThaddeusB]

Sent 10 BTC! Loan ID 1 here: https://docs.google.com/spreadsheet/ccc?key=0AnQyVAskGw8xdFREc2FLeWRNUFZ6bEhyNTRaMGlVMXc

Loan confirmed.  Thanks for giving me try!

[ThaddeusB]

As of yesterday, loan is paid in full.  TradeFortress please confirm when you get a chance and thanks again for the loan.

Thaddeus

[🏰 TradeFortress 🏰]

As of yesterday, loan is paid in full.  TradeFortress please confirm when you get a chance and thanks again for the loan.

Thaddeus

Confirmed and rated on #bitcoin-otc

Thanks!