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Author Topic: Looking for 350-400 btc loan  (Read 2111 times)
ridgemont4
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February 02, 2013, 12:42:40 PM
 #1

I can go up to 20%. Yes I made a thread earlier for a bigger loan only a few weeks ago, and I offered 50%, however I closed it because I figured out it wasn't something I was willing to go through with. I'm looking for something much more reasonable now, of course this is subjective. My plan is to use the 350-400 to make a purchase of a car to get back to my old job which I left because I was sick of having others drive me. This job is one that pays $11.50/hr and I am typically called in for 20 hours a week or more. 50% of the work force are people I have known for years, so going back is not an issue. We are on good terms. So do the math! I'm able to pay back the loan and the request is reasonable. However I'm guessing no one has that much BTC to lend, which sucks!

Anyway, here's the math
20 hours / week * 11.50 = $230, so, in a year that's $12,000 approximately.

It's a long shot but I assure you if I get the loan, I will work as quickly as I can to get your money back to you. I do not like taking loans / borrowing to be honest, so I want to move quickly to get it all back, plus supply you with a decent ROI. Here's another thing I mention in my last thread. Bitcoin is $19-$20 now. Let's say in 8-12 months, when I expect to have your money, Bitcoin is $5? or lower? Sure, it could be much higher.. it could be anything. However some experience in life tells me it is experiencing a peak and may not be back here for a while. Who's to say, this is not the time or the place to speculate, however I'm giving a valid possibility. What I'm saying is this could be an opportunity to lock in this value and even earn 20% on your investment on top of that. How that works is I'm not valuing the loan in BTC, I'm valuing it in US dollars and repaying in US dollars. and thus concludes this thread.

Can anyone help me? If so PM me so we can work out the terms.
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John (John K.)
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February 02, 2013, 12:56:59 PM
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Have you factored in the overhead costs like car repairs, fuel, food and other necessities? How long do you plan to pay back the loan? By 20% you mean APY, right? I'm assuming that you're willing to notarize the loan and provide other information, of course.
It's not the amount that's detracting potential lenders. See: https://bitcointalk.org/index.php?topic=73599.0 and https://bitcointalk.org/index.php?topic=137118.0  for examples. 

Relevant past lending post: https://bitcointalk.org/index.php?topic=135395.0

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Bowjob
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February 02, 2013, 01:12:12 PM
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Why don't you just ask a loan in USD instead of BTC? With BTC, you get a free short, with USD, the value of the currency is relatively stable compared to BTC.

It seemed like a good idea at the time.
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February 02, 2013, 01:13:20 PM
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Why don't you just ask a loan in USD instead of BTC? With BTC, you get a free short, with USD, the value of the currency is relatively stable compared to BTC.
He wants a loan pegged to USD, not BTC.

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February 02, 2013, 01:21:33 PM
 #5

Too bad it isn't legal for you to contractually obligate your knee caps to me should you fail to repay. I would be tossing around coins left and right if it was =P.

Rep Thread: https://bitcointalk.org/index.php?topic=381041
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February 02, 2013, 01:25:07 PM
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Why don't you just ask a loan in USD instead of BTC? With BTC, you get a free short, with USD, the value of the currency is relatively stable compared to BTC.
He wants a loan pegged to USD, not BTC.

Isn't that what I said? Assume he gets 400 BTC now with the value of 20 USD each coin. Basically, I think he means.. if BTC shoots up to the moon, at 30 USD/BTC he will only have to pay back the investor 320 BTC. If BTC goes down to hell, at 5 dollars a coin, then that means he will pay back 1792 BTC. Lending 8 grand is already such a risky proposition in the first place, why put the investor in a position where the only way he can profit is if BTC stays the same price, or actually goes down. Surprisingly, there's this guy who wanted to lend him 1200 coins on his last thread which nearly broke my red truth.

It seemed like a good idea at the time.
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February 02, 2013, 02:33:27 PM
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Why don't you just ask a loan in USD instead of BTC? With BTC, you get a free short, with USD, the value of the currency is relatively stable compared to BTC.
He wants a loan pegged to USD, not BTC.

Isn't that what I said? Assume he gets 400 BTC now with the value of 20 USD each coin. Basically, I think he means.. if BTC shoots up to the moon, at 30 USD/BTC he will only have to pay back the investor 320 BTC. If BTC goes down to hell, at 5 dollars a coin, then that means he will pay back 1792 BTC. Lending 8 grand is already such a risky proposition in the first place, why put the investor in a position where the only way he can profit is if BTC stays the same price, or actually goes down. Surprisingly, there's this guy who wanted to lend him 1200 coins on his last thread which nearly broke my red truth.
Investors can lend out their USD balance so fluctuations wouldn't affect the investors at all - the BTC is merely used as a method of transfer for the USD, and the balance is quickly converted to USD after the repayment/loaning happens. The investor takes profit in USD, not BTC. He's basically asking for a loan in USD.

PS: OP, please answer my questions above. I have a balance in USD that I plan to either hold or invest, so I could be lending -depending- on the risks involved. I'm not touching with my BTC position, though, as I'm keeping both separate.

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February 03, 2013, 12:41:24 AM
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Quote from: ridgemont4
You're just mad because I wouldn't even accept your Bitcoins if your mom gave them to me straight from her pussy. I'll take my dick and shove them back in so hard, your new brother or sister will be a Bitcoin mining rig.

Quote from: ridgemont4
You're all just jealous that I actually was smart enough to form a plan. Most of you cannot say you've done that before in your life. You've been too busy sucking dick.

What a bunch of fucking jokes that will never amount to anything.

I guess ridgemont forgot we can see his previous posts from his last "loan" request (which he hates doing).  Smiley

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February 03, 2013, 01:33:59 AM
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Trying Troll's gotta try to troll, that's just how they roll.

When the subject of buying BTC with Paypal comes up, I often remember this: 

Insanity: doing the same thing over and over again and expecting different results.

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Bowjob
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February 03, 2013, 01:50:23 AM
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If Chang Hum funds this loan, I will mourn for his money.

It seemed like a good idea at the time.
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February 05, 2013, 04:08:02 AM
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Why the hell would you ever spend $8,000 for a car if you only made $12,000 a year???  You need a $500 Honda off craigslist or just get a fucking moped.


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February 05, 2013, 04:14:32 PM
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Why don't you just go to a bank, if you need a usd based loan?
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February 05, 2013, 06:41:49 PM
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Why don't you just go to a bank, if you need a usd based loan?

A bank would make him pay it back.

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February 05, 2013, 08:24:31 PM
 #14

Why the hell would you ever spend $8,000 for a car if you only made $12,000 a year???  You need a $500 Honda off craigslist or just get a fucking moped.



I'm reading all your posts in Chevy Chase's voice - lovin' it!

There should be a twitter feed of, "Shit bo2573 Says"

You are my favorite drive-by commenter  Cheesy

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February 06, 2013, 12:56:09 AM
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Why the hell would you ever spend $8,000 for a car if you only made $12,000 a year???  You need a $500 Honda off craigslist or just get a fucking moped.



I'm reading all your posts in Chevy Chase's voice - lovin' it!

There should be a twitter feed of, "Shit bo2573 Says"

You are my favorite drive-by commenter  Cheesy



I love your body Larry.

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February 07, 2013, 01:45:33 AM
 #16

Too bad it isn't legal for you to contractually obligate your knee caps to me should you fail to repay. I would be tossing around coins left and right if it was =P.
I like this guys attitude lol

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