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Author Topic: 4 Btc loan  (Read 2252 times)
Currencevents
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February 05, 2013, 01:49:50 AM
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I am borrowing 4 Bitcoins on btcjam for one month at a 10% monthly interest rate. Please look at my current investment on btcjam. The borrower is very solid and the amount of risk on that loan is basically less than the risk on this loan. I have a payment of 5.3 Bitcoins due to me on the 10th of February and once that comes in I will pay of the loan early. # note (that loan is 4.5% a month) In the case that borrowers does not pay me then my investment of the principle will more cover this loan.

I wish that I could make my accounts receivable into some sort of binding collateral on btcjam then all of the people who also invested in that loan would immediately be interested in my current loan seeing as it is a higher interest rate for the same risk.
btcjam please look into that.


https://btcjam.com/listings/1573


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John (John K.)
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February 05, 2013, 01:58:58 AM
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Identity verified:    no   
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Will pass,sorry.

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
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February 05, 2013, 01:59:18 AM
 #3

The borrower is very solid and the amount of risk on that loan is basically less than the risk on this loan.

The risk on this loan is that you don't pay it back.  It doesn't matter where you are expecting coins or how many.  You still can walk away without repaying.

You are anonymous, have no history here, and BTCJam will do nothing if you default.  So you have nothing to lose by keeping the coins.  It won't take long to make another account with a dozen posts.

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Currencevents
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February 05, 2013, 02:04:08 AM
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To be truthful Im not very comfortable giving my information to a random company on the internet. Would it be possible to use the account on btcjam as collateral? Like a bond with a trusted member? The trusted member gets to change login information and I get the 4 bitcoins and then those accounts receivable are what I would have to lose. I have 10.6 btc due to me on btcjam in the next month.
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February 05, 2013, 02:06:23 AM
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To be truthful Im not very comfortable giving my information to a random company on the internet.
Just imagine how not very comfortable people are giving their money to a random person on the internet!

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John (John K.)
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February 05, 2013, 02:07:25 AM
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To be truthful Im not very comfortable giving my information to a random company on the internet.
Just imagine how not very comfortable people are giving their money to a random person on the internet!
This.

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Currencevents
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February 05, 2013, 02:25:28 AM
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To be truthful Im not very comfortable giving my information to a random company on the internet.
Just imagine how not very comfortable people are giving their money to a random person on the internet!
This.

Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?
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February 05, 2013, 02:29:10 AM
 #8

Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?

If you need to borrow eighty dollars, your ID is probably not worth thousands.    Wink

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
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CurbsideProphet
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February 05, 2013, 02:29:57 AM
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Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?

If you need to borrow eighty dollars, your ID is probably not worth thousands.    Wink

 Cheesy

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Currencevents
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February 05, 2013, 02:33:20 AM
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Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?

If you need to borrow eighty dollars, your ID is probably not worth thousands.    Wink

 Cheesy

So wait let me get this straight. Its not possible to get multiple credit cards in someones name and then spend money that they become liable for?
And yes maybe not thousands but hundreds is probably reasonable for a case of id theft. I don't really know much about the business.
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February 05, 2013, 02:33:40 AM
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You can always reset the password or something.

I might offer you a loan if you show me ID / passport / bill with address / paystubs (any 2 of those). I delete all IDS (which would be in a 2fa google apps account) after the loan is complete.

Or, you could just have some patience Smiley
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February 05, 2013, 02:36:40 AM
 #12

Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?

If you need to borrow eighty dollars, your ID is probably not worth thousands.    Wink

 Cheesy

So wait let me get this straight. Its not possible to get multiple credit cards in someones name and then spend money that they become liable for?

Yes, it is possible.  For credit cards, your maximum liability would be $50.

http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards

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Currencevents
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February 05, 2013, 02:44:59 AM
 #13

Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?

If you need to borrow eighty dollars, your ID is probably not worth thousands.    Wink

 Cheesy

So wait let me get this straight. Its not possible to get multiple credit cards in someones name and then spend money that they become liable for?

Yes, it is possible.  For credit cards, your maximum liability would be $50.

http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards

Thanks also that $50 is if you catch it in the first 2 days. The website you just posted says that after 2 days you are liable for up to $600.
All discussion of id theft liability aside would a trusted member be able if they so desired to take my btcjam account as collateral?
CurbsideProphet
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February 05, 2013, 03:07:03 AM
 #14

Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?

If you need to borrow eighty dollars, your ID is probably not worth thousands.    Wink

 Cheesy

So wait let me get this straight. Its not possible to get multiple credit cards in someones name and then spend money that they become liable for?

Yes, it is possible.  For credit cards, your maximum liability would be $50.

http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards

Thanks also that $50 is if you catch it in the first 2 days. The website you just posted says that after 2 days you are liable for up to $600.
All discussion of id theft liability aside would a trusted member be able if they so desired to take my btcjam account as collateral?

If you read more carefully that's for a lost debit card.  Credit cards are capped.  Anyway, goodluck with the loan.

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Currencevents
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February 05, 2013, 04:19:35 AM
 #15

Its a numbers thing this loan is about 84 usd while my id is potentially worth thousands. Does that make some sense?

If you need to borrow eighty dollars, your ID is probably not worth thousands.    Wink

 Cheesy

So wait let me get this straight. Its not possible to get multiple credit cards in someones name and then spend money that they become liable for?

Yes, it is possible.  For credit cards, your maximum liability would be $50.

http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards

Thanks also that $50 is if you catch it in the first 2 days. The website you just posted says that after 2 days you are liable for up to $600.
All discussion of id theft liability aside would a trusted member be able if they so desired to take my btcjam account as collateral?

If you read more carefully that's for a lost debit card.  Credit cards are capped.  Anyway, goodluck with the loan.

My mistake and thank you.
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February 05, 2013, 05:07:22 AM
 #16

besides everything you give me your forgetting one crucial thing a ssn # without that i cant get a cc also thousands thats if someone good just saying there are people buying and selling millons of peoples id who probbaly have better credit scores then you
Currencevents
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February 05, 2013, 03:12:33 PM
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besides everything you give me your forgetting one crucial thing a ssn # without that i cant get a cc also thousands thats if someone good just saying there are people buying and selling millons of peoples id who probbaly have better credit scores then you

Please, for the love of Satoshi, use a bit more punctuation.
wholesaler
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February 05, 2013, 04:26:02 PM
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besides everything you give me your forgetting one crucial thing a ssn # without that i cant get a cc also thousands thats if someone good just saying there are people buying and selling millons of peoples id who probbaly have better credit scores then you

Please, for the love of Satoshi, use a bit more punctuation.


OK then sir :/
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February 05, 2013, 06:33:51 PM
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Thanks also that $50 is if you catch it in the first 2 days. The website you just posted says that after 2 days you are liable for up to $600.
All discussion of id theft liability aside would a trusted member be able if they so desired to take my btcjam account as collateral?

Dude, practice what you preach. 

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
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February 05, 2013, 08:07:45 PM
 #20

Thanks also that $50 is if you catch it in the first 2 days. The website you just posted says that after 2 days you are liable for up to $600.
All discussion of id theft liability aside would a trusted member be able if they so desired to take my btcjam account as collateral?

A brand new BTCJam account has next to no value, and certainly nowhere near 4 BTC.

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