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Author Topic: [LOAN OFFER] $50,000 USD, Low Interest Rate, Secured by Bitcoins  (Read 2297 times)
bitcoins5411
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January 20, 2013, 11:55:13 PM
 #1

Hi everyone,

I'm willing to offer up to $50,000 USD in loans. I will hold on to an equivalent amount of bitcoins as collateral. This is a good option for anyone who wants to borrow money, but doesn't want to worry about paying back a bitcoin-denominated loan with rising bitcoin prices.

This is also a good option if you want to speculate on the bitcoin price rising. I'll loan you the funds you need to buy more bitcoin.

We can negotiate the length of the loan and the interest rate.
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SouthernComfort
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January 21, 2013, 02:56:37 AM
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Honestly, how stupid do you think we are?

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bitcoins5411
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January 21, 2013, 03:43:13 AM
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Honestly, how stupid do you think we are?

Why don't you tell me... How stupid are you? You insult my offer on this board and then you ask me for a loan through PM?!?! That's pretty stupid.

I'm a serious lender with a serious offer. My offer stands for anyone who wants to take out a secured loan with a good interest rate.
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January 21, 2013, 03:46:53 AM
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Honestly, how stupid do you think we are?

Why don't you tell me... How stupid are you? You insult my offer on this board and then you ask me for a loan through PM?!?! That's pretty stupid.

I'm a serious lender with a serious offer. My offer stands for anyone who wants to take out a secured loan with a good interest rate.
Ignore him, he's an outed scammer. He thinks accusing other people will somehow draw attention away from that.

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thebaron
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January 21, 2013, 03:57:37 AM
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Who goes first?
John (John K.)
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January 21, 2013, 03:59:24 AM
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Who goes first?
An escrow maybe.

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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January 21, 2013, 05:42:49 AM
 #7

Honestly, how stupid do you think we are?

Why don't you tell me... How stupid are you? You insult my offer on this board and then you ask me for a loan through PM?!?! That's pretty stupid.

I'm a serious lender with a serious offer. My offer stands for anyone who wants to take out a secured loan with a good interest rate.

lol I PM'd you days ago asking about this post. Your a OBVIOUS scammer, really a guy with 36 posts trying to get 50,000$ loans how old are you 12?

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January 21, 2013, 05:46:30 AM
 #8

Honestly, how stupid do you think we are?

Why don't you tell me... How stupid are you? You insult my offer on this board and then you ask me for a loan through PM?!?! That's pretty stupid.

I'm a serious lender with a serious offer. My offer stands for anyone who wants to take out a secured loan with a good interest rate.

lol I PM'd you days ago asking about this post. Your a OBVIOUS scammer, really a guy with 36 posts trying to get 50,000$ loans how old are you 12?
God, can't you read? He's offering loans not applying for a loan like you are. He wants Bitcoins as collateral, which I think is a good way of ensuring that he isn't being scammed by people like you.

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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January 21, 2013, 06:01:06 AM
 #9

Honestly, how stupid do you think we are?

Why don't you tell me... How stupid are you? You insult my offer on this board and then you ask me for a loan through PM?!?! That's pretty stupid.

I'm a serious lender with a serious offer. My offer stands for anyone who wants to take out a secured loan with a good interest rate.

lol I PM'd you days ago asking about this post. Your a OBVIOUS scammer, really a guy with 36 posts trying to get 50,000$ loans how old are you 12?
God, can't you read? He's offering loans not applying for a loan like you are. He wants Bitcoins as collateral, which I think is a good way of ensuring that he isn't being scammed by people like you.

Can you not read?
Quote
I will hold on to an equivalent amount of bitcoins as collateral.
He WANTS coins, lmao..

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January 21, 2013, 06:03:18 AM
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Can you not read?
Quote
I will hold on to an equivalent amount of bitcoins as collateral.
He WANTS coins, lmao..

In exchange for cash. It's collateral. You need to finish reading the whole sentence before you post a reply Tongue
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January 21, 2013, 06:06:21 AM
 #11

Can you not read?
Quote
I will hold on to an equivalent amount of bitcoins as collateral.
He WANTS coins, lmao..

In exchange for cash. It's collateral. You need to finish reading the whole sentence before you post a reply Tongue

He's a scammer masquerading as BitcoinsForCharity.org. The fake site is [scam].org.

Dont jump to conclusions so fast. If you were to read what I stated earlier I work for the charity. Meaning I am the guy who transfers the BTC to Euros for the charity. Really, dont be stupid.

In this case, the conclusion is obvious. Your scam site shown above is bitcoinstocharity.org. The real site is bitcoinsforcharity.org.

Notice that on the scamming site, the donation addresses has been changed to Southern Comfort's addressess, specifically the one he mentioned in his sock puppet loan: 1B4pDiGiHkTAZvGsjWintcY3by6AvVSVLu

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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January 21, 2013, 10:53:15 AM
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. . . I'm willing to offer up to $50,000 USD in loans. I will hold on to an equivalent amount of bitcoins as collateral . . .
Interesting.
So, I buy approximately 3,058 BTC for $50,000 BTC.
Then I give it to you as collateral and you loan me $50,000.

If the price of BTC goes up, I can pay you back the $50,000 plus interest, get my 3,058 BTC back, and sell them at a profit (your profit is limited to the negotiated interest rate).

If the price of BTC goes down, I can default on the loan, and keep the $50,000, losing nothing (you take all the risk of a fall in BTC prices).

Looks like a guaranteed income for me, and a reduced income for you.

You'd have ended up better off if you had just bought the $50,000 worth of BTC.
In that case you'd have the exact same downside risk, but you come out ahead if the price rises.

When something seems to be to good to be true, it almost always is.  I suppose this might not be a scam, but financially the math doesn't work out.  You either haven't thought this through and are putting yourself in a position to be scammed, or you are attempting a scam yourself.

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January 21, 2013, 10:56:04 AM
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When something seems to be to good to be true, it almost always is.  I suppose this might not be a scam, but financially the math doesn't work out.  You either haven't thought this through and are putting yourself in a position to be scammed, or you are attempting a scam yourself.

A cashiers check overnighted from Nigeria is legit, right?
bitcoins5411
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January 21, 2013, 11:59:05 AM
 #14

. . . I'm willing to offer up to $50,000 USD in loans. I will hold on to an equivalent amount of bitcoins as collateral . . .
Interesting.
So, I buy approximately 3,058 BTC for $50,000 BTC.
Then I give it to you as collateral and you loan me $50,000.

If the price of BTC goes up, I can pay you back the $50,000 plus interest, get my 3,058 BTC back, and sell them at a profit (your profit is limited to the negotiated interest rate).

If the price of BTC goes down, I can default on the loan, and keep the $50,000, losing nothing (you take all the risk of a fall in BTC prices).

First off, I probably wouldn't do a $50,000 loan with one person. But I have $50K available to lend to various borrowers. And yes, default by borrowers is a risk, but I think I can manage this risk. I'm not just going to send funds to a forum ID. We're going to sign and notarize a loan document. If you don't pay the loan, you'll find yourself in court. And when you lose, you'll be paying back the loan with penalties, interest, and my attorney fees.

So, the bitcoin price would have to drop significantly for someone to want to risk their credit and a lawsuit by scamming.
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January 22, 2013, 05:59:46 AM
 #15

 Grin OK. So can you lend me 5000$, I will buy bitcoins and will give it to you as collateral, so that you could lend me 5000$ again.

But you know what? Let's cut the middle man and just give me 5000$ loan.

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BitcoinINV
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January 24, 2013, 05:13:28 PM
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This guy I Believe is the scammer caranada beware

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January 26, 2013, 02:22:22 PM
 #17

. . . I'm willing to offer up to $50,000 USD in loans. I will hold on to an equivalent amount of bitcoins as collateral . . .
Interesting.
So, I buy approximately 3,058 BTC for $50,000 BTC.
Then I give it to you as collateral and you loan me $50,000.

If the price of BTC goes up, I can pay you back the $50,000 plus interest, get my 3,058 BTC back, and sell them at a profit (your profit is limited to the negotiated interest rate).

If the price of BTC goes down, I can default on the loan, and keep the $50,000, losing nothing (you take all the risk of a fall in BTC prices).

Looks like a guaranteed income for me, and a reduced income for you.

You'd have ended up better off if you had just bought the $50,000 worth of BTC.
In that case you'd have the exact same downside risk, but you come out ahead if the price rises.

When something seems to be to good to be true, it almost always is.  I suppose this might not be a scam, but financially the math doesn't work out.  You either haven't thought this through and are putting yourself in a position to be scammed, or you are attempting a scam yourself.

This is why points need to be offered on the loan (such as 5% or whatever).  Payment is up front.  So if someone wants a $1,000 loan they will receive $950 (5% of $1000) and hand over the bitcoins as collateral, but required to pay back $1000 + the interest.  The bitcoins would have to appreciate at a higher percentage point than the initial points to come out ahead, meaning they need to hold the loan for a longer period of time.  The initial points paid on the loan would act as a hedge for the creditor in case of price depreciation and the debtor decides to default on the loan instead of paying the amount due.

Introducing constraints to the economy only serves to limit what can be economical.
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