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Author Topic: 1.5BTC loan needed collateral value 1.72btc  (Read 1097 times)
lockepi (OP)
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February 24, 2016, 07:22:59 PM
Last edit: February 25, 2016, 10:28:42 AM by lockepi
 #1

i require a 1.5btc loan for 7 days

interest rate 3%

repayment 1.53btc

reason for loan unexpected bill

collateral 4.8million safe exchange coins

https://bittrex.com/Market/Index?MarketName=BTC-SEC
whywefight
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February 25, 2016, 01:05:16 AM
 #2

glad to see someone offering an alt as collateral. i still think it will be hard someone accept it by looking at the weekly volume and trade history of the coin

The Sceptical Chymist
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February 25, 2016, 04:46:34 AM
 #3

Imo 2% for a 1.5 btc loan is way too little.  And it's probably why you haven't gotten people beating down your door to give you the loan.

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February 25, 2016, 04:58:48 AM
 #4

Imo 2% for a 1.5 btc loan is way too little.  And it's probably why you haven't gotten people beating down your door to give you the loan.
2% per week is pretty standard when there is liquid and stable altcoins involved that makes the lender at little risk at loosing the principal amount of his loan.

The issue in this case is that the altcoin being offered is not liquid enough so that a 1.5 BTC sell order would allow a seller to get roughly the market rate.
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February 25, 2016, 07:50:27 AM
 #5

The collateral you are offering have a pretty decent value but doesn't seems to be stable
And those 2% fee is also not that large to cover losses if any
Either you need to provide a very decent interest rate to attract any lender to take this risk or lower your loan amount
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February 25, 2016, 09:45:15 AM
 #6

Only one reason why I not grant his loan , this coin have very short history.
from my painful experience know how new altcoin after ICO very soon lose worth 10-100 time in one week.

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lockepi (OP)
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February 25, 2016, 10:28:33 AM
 #7

understand but i just need it for 7 days. i've changed interest to 3%.
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February 25, 2016, 10:38:39 AM
 #8

Only one reason why I not grant his loan , this coin have very short history.
from my painful experience know how new altcoin after ICO very soon lose worth 10-100 time in one week.

Yeah, it might just be someone looking to sell his numerous altcoins in a one time operation ^^

lockepi (OP)
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February 25, 2016, 10:42:22 AM
 #9

those messaging me thinking il handover my coins to users with little or no history stop messaging me. more than happy to comply if your willing to give coins to escrow.

Only one reason why I not grant his loan , this coin have very short history.
from my painful experience know how new altcoin after ICO very soon lose worth 10-100 time in one week.

Yeah, it might just be someone looking to sell his numerous altcoins in a one time operation ^^

why would i do that my investment been up from yesterday i just dont want to sell it. like zazarb said could go up could go down. if it falls below collateral value you have every right to sell it to get back your money, in the event of it falling lower than collateral i owe the remaining.
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February 25, 2016, 10:46:50 AM
 #10

why would i do that my investment been up from yesterday i just dont want to sell it. like zazarb said could go up could go down. if it falls below collateral value you have every right to sell it to get back your money, in the event of it falling lower than collateral i owe the remaining.

We can't trust you and think you won't scam. You have only a full member account worth around 0.05 btc to lose if collateral value falls
lockepi (OP)
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February 25, 2016, 10:49:36 AM
 #11

why would i do that my investment been up from yesterday i just dont want to sell it. like zazarb said could go up could go down. if it falls below collateral value you have every right to sell it to get back your money, in the event of it falling lower than collateral i owe the remaining.

We can't trust you and think you won't scam. You have only a full member account worth around 0.05 btc to lose if collateral value falls

thats what collateral is for, you sell it if it close to loan amount
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February 25, 2016, 10:54:21 AM
 #12

thats what collateral is for, you sell it if it close to loan amount

But what if it falls lower than the loan value ?
You will be present to repay loan if collateral value remains higher or equal to repayment amount
But I am 100% sure we won't be able to see you back again in case if it falls
lockepi (OP)
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February 25, 2016, 11:03:12 AM
 #13

thats what collateral is for, you sell it if it close to loan amount

But what if it falls lower than the loan value ?
You will be present to repay loan if collateral value remains higher or equal to repayment amount
But I am 100% sure we won't be able to see you back again in case if it falls

nothing i can say will make anyone believe that i honour my loan if it falls so won't go into that. but looking at current situation its ok and like i said you can sell it if its near to loan value, current value 1.94tc i seriously wouldnt want go ahead and convince further as il just soldier it out until my wages come through rather than explain using numbers. i fulfill the requirement offering a collateral above value of loan with adequate buy orders in the need of it being sold. hope i find the loan to get them off my back if not il just deal with it for another 4 days
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February 25, 2016, 11:17:59 AM
 #14

nothing i can say will make anyone believe that i honour my loan if it falls so won't go into that. but looking at current situation its ok and like i said you can sell it if its near to loan value, current value 1.94tc i seriously wouldnt want go ahead and convince further as il just soldier it out until my wages come through rather than explain using numbers. i fulfill the requirement offering a collateral above value of loan with adequate buy orders in the need of it being sold. hope i find the loan to get them off my back if not il just deal with it for another 4 days

Nope. The collateral you provided is still an Invalid collateral
Valid altcoins collateral are those which are old, traded at many popular exchanges and have solid stable value not the one which is new
And You noticed  that the Value of coin you providing fall by 5 times in the last 11 days ?  Tongue
lockepi (OP)
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February 25, 2016, 11:33:34 AM
 #15

nothing i can say will make anyone believe that i honour my loan if it falls so won't go into that. but looking at current situation its ok and like i said you can sell it if its near to loan value, current value 1.94tc i seriously wouldnt want go ahead and convince further as il just soldier it out until my wages come through rather than explain using numbers. i fulfill the requirement offering a collateral above value of loan with adequate buy orders in the need of it being sold. hope i find the loan to get them off my back if not il just deal with it for another 4 days

Nope. The collateral you provided is still an Invalid collateral
Valid altcoins collateral are those which are old, traded at many popular exchanges and have solid stable value not the one which is new
And You noticed  that the Value of coin you providing fall by 5 times in the last 11 days ?  Tongue

seriously man i could go on but not looking to debate about it. facts are in the thread hope i get it no issue if i dont il deal with it.
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February 25, 2016, 11:49:09 AM
 #16

Offer stable collateral and you will receive. No one is willing to lend you this if you don't want to provide some collateral that can be easily liquidated.
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February 25, 2016, 02:15:56 PM
 #17

collateral 4.8million safe exchange coins

https://bittrex.com/Market/Index?MarketName=BTC-SEC

This is the best piece of information I could find, which still leaves me knowing next to nothing. The wallet also tried to download the entire blockchain, which would take longer than 7 days from my location.
[ANN] page, wallet info: https://bitcointalk.org/index.php?topic=1258419.msg13941208#msg13941208

Perhaps some instruction on how to manage the wallet, or whatever is needed to accept this collateral, would be helpful to people wanting to fill this loan. I wouldn't feel safe leaving nearly BTC2 worth of collateral on an exchange, this is a personal preference of course.
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February 25, 2016, 02:44:39 PM
 #18

collateral 4.8million safe exchange coins

https://bittrex.com/Market/Index?MarketName=BTC-SEC

This is the best piece of information I could find, which still leaves me knowing next to nothing. The wallet also tried to download the entire blockchain, which would take longer than 7 days from my location.
[ANN] page, wallet info: https://bitcointalk.org/index.php?topic=1258419.msg13941208#msg13941208

Perhaps some instruction on how to manage the wallet, or whatever is needed to accept this collateral, would be helpful to people wanting to fill this loan. I wouldn't feel safe leaving nearly BTC2 worth of collateral on an exchange, this is a personal preference of course.

and if price of the coin fall to or under loan amount ?
that said,  order book look better then yesterday  Smiley
lockepi (OP)
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February 28, 2016, 07:04:59 PM
 #19

recieved a loan of 1.5btc from "iluvbitcoins" interest rate 4% repaid 1.56btc

held half of escrow with zazarb

loan completed and collateral returned

thanks if i need a loan again il be sure to contact you guys first
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