Wanted: $400 Loan

[Scott J]

Hello,

I am looking for a 4500 $400 loan (paid in BTC, tied to the dollar).

The purpose of the loan is to reduce my exposure to further BTC price increases by settling my BTC denominated debts - I have an outstanding loan with Blazr of 3.5 BTC and another of 14 BTC that I owe to another user.

My plan to to use the money to exercise my option here: https://bitcointalk.org/index.php?topic=138641.0

For $400 I will receive 4,500 LTC, currently worth just under $900. I'll then purchase BTC to pay off my loans.

The extra $100 I would like to put into LTC as I can see the rally continuing.

I understand that using debt to pay off debt is generally a bad move, but at the moment I owe around $810 -- this plan will reduce that to $500 and I won't have the risk of further price increases.

Ideally I would repay this loan over two or three months, though I'm open to negotiation on the term and interest.

Edit: I would be able to make a $100 payment towards the loan pretty much immediately after exercising my option.



Thanks  

Previous loans/trades here:

https://bitcointalk.org/index.php?topic=115892
https://bitcointalk.org/index.php?topic=75898.0
https://bitcointalk.org/index.php?topic=78592.0
https://bitcointalk.org/index.php?topic=96545
https://bitcointalk.org/index.php?topic=134712.0

[1714181161]

1714181161

[1714181161]

1714181161

[1714181161]

1714181161

[1714181161]

1714181161

[1714181161]

1714181161

[cptmooseinc]

PM sent.

EDIT: PMed you again. I am going to change my offer later as I jumped the gun on the initial one. I'm still interested in assuming your debt though.

[Scott J]

That's fine, get back to me when you're on lunch 

In the mean time, I'm still open to offers.

[sega01]

I just wanted to say that Scott has been terrific to lend to. For one, it can be hard merely finding someone honest and not trying to scam you. Scott, however, is very reliable and communicates effectively. He's an excellent guy to talk with. For reference, I've worked with him on BTCJam and here on the forum.

Just my two bitcents, which apparently are worth an awful lot right now according to the graphs :-O.

[420]

I see you need a loan.

Howbout we make a new deal.

I give you 2605LTC for nothing and we cancel the rest of the option contract (1895LTC).

Then you have LTC you can sell for just about $500 (the amount of loan you wanted)

[Scott J]

Thanks, that is a fair offer, since my profit from the deal is ~$500.

The only thing that is stopping me accepting straight away is that I am really keen to settle my BTC debts mentioned above.

2605 LTC plus the 500 LTC I already have would net me about 14 BTC, when I need 17.5 BTC.

Hmmm... let me think this over.

[Scott J]

Thanks, that is a fair offer, since my profit from the deal is ~$500.

The only thing that is stopping me accepting straight away is that I am really keen to settle my BTC debts mentioned above.

2605 LTC plus the 500 LTC I already have would net me about 14 BTC, when I need 17.5 BTC.

Hmmm... let me think this over.

I'll raise it to 2100LTC but that's all I'll do

I assume that's a typo?

[420]

Thanks, that is a fair offer, since my profit from the deal is ~$500.

The only thing that is stopping me accepting straight away is that I am really keen to settle my BTC debts mentioned above.

2605 LTC plus the 500 LTC I already have would net me about 14 BTC, when I need 17.5 BTC.

Hmmm... let me think this over.

I'll raise it to 2100LTC but that's all I'll do

I assume that's a typo?

oops yeah 2700

[Scott J]

I'm amended the OP as I'm going to try and raise the $400 so I can purchase the full amount of LTC.

Should this not happen, I'll see if your offer is still valid. Otherwise, I'll have to wait till the end of the month and hope the LTC price hasn't dropped.

[420]

I'm amended the OP as I'm going to try and raise the $400 so I can purchase the full amount of LTC.

Should this not happen, I'll see if your offer is still valid. Otherwise, I'll have to wait till the end of the month and hope the LTC price hasn't dropped.

sounds good. btc is retracing. ltc may retrace a little as well soon. it shot up like a rocket we all know

[Scott J]

Deal almost finalised, will update thread in due course 

[420]

Deal almost finalised, will update thread in due course 

can't wait for my GOx USD

*drool*

[Scott J]

I worked out a deal with Scott Jr and lent him the $400

Loan to Scott Jr

Loan amount: $400
Monthly interest: 6%
Min. payment: $130

Loan to be funded and repaid using Gox codes

Confirmed.

Thank you

Thanks yet again, Blazr.

And it's Scott J 

[420]

I received the $400 funds from Scott J

[Scott J]

Just made a payment of $130.

Thanks, Blazr