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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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whywefight
Legendary
 Offline
Activity: 1078
Merit: 1042
www.explorerz.top
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February 25, 2016, 01:05:16 AM |
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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
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The Sceptical Chymist
Legendary
Offline
Activity: 3332
Merit: 6826
Cashback 15%
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February 25, 2016, 04:46:34 AM |
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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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Quickseller
Copper Member
Legendary
Offline
Activity: 2870
Merit: 2298
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February 25, 2016, 04:58:48 AM |
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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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xinzark
Legendary
Offline
Activity: 1120
Merit: 1001
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February 25, 2016, 07:50:27 AM |
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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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zazarb
Legendary
Offline
Activity: 3374
Merit: 1548
Get loan in just five minutes goo.gl/8WMW6n
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February 25, 2016, 09:45:15 AM |
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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 |
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understand but i just need it for 7 days. i've changed interest to 3%.
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Laosai
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February 25, 2016, 10:38:39 AM |
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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 ^^ |
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lockepi (OP)
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February 25, 2016, 10:42:22 AM |
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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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xinzark
Legendary
Offline
Activity: 1120
Merit: 1001
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February 25, 2016, 10:46:50 AM |
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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 |
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lockepi (OP)
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February 25, 2016, 10:49:36 AM |
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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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xinzark
Legendary
Offline
Activity: 1120
Merit: 1001
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February 25, 2016, 10:54:21 AM |
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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 |
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lockepi (OP)
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February 25, 2016, 11:03:12 AM |
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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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xinzark
Legendary
Offline
Activity: 1120
Merit: 1001
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February 25, 2016, 11:17:59 AM |
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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 ?  |
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lockepi (OP)
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February 25, 2016, 11:33:34 AM |
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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 ? 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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Duomo
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February 25, 2016, 11:49:09 AM |
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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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-XXIII-
Member
Offline
Activity: 112
Merit: 10
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February 25, 2016, 02:15:56 PM |
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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#msg13941208Perhaps 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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andy75
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February 25, 2016, 02:44:39 PM |
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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#msg13941208Perhaps 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  |
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lockepi (OP)
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February 28, 2016, 07:04:59 PM |
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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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