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Author Topic: Startup Funds  (Read 533 times)
zif33rs
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March 18, 2013, 04:48:07 AM
 #1

Hello, I am looking for a loan. However I have a problem...I am new. So from what I have read over the past week or so with my dive into bitcoins is that I need to "establish" my reputation. Ok, so started that..applied at BTCJam for a 1btc loan. I hope I filled out the application right.

Anyway I digress. I have roughly $300 a month of "free" spending money. This is what I am left with after paying all bills, not a huge investment portfolio I know. But its what I can afford to "lose", "throw away" or otherwise do what I wish with. So last month was a new video card...7950(great card for the money btw, $279 +2 free games from the egg)...well..bam...discovered bitcoin and now it's chugging away at 620+ mh\s and my little pile of dust is growing towards a full satoshi pretty darn quick. So come the 1st what do I do?  Order another GPU miner? No..the game is changing right when I get into it. ASIC's have come and I want to get on board asap.
 
What I want now is an Avalon. Im not sure when they will be accepting pre-orders for batch#3 again but when they do I want one. So that means at todays prices I need roughly 32.89btc + whatever fee's are involved.

Can I save up that $300 a month and in 5 months just buy one..yes. In 5 months the profits will have declined and the difficulty will have gone up. I know this..but I am in it for the long haul. I am excited about the future of digital currency. I think that in the next 3 years before the next halving there is going to be a good roi for a 66 gh\s miner.

So my options are this.

1. Save the extra income and just buy the necessary btc when I have enough and orders for asics are available.
2. buy another 7950 and be happy with 1200+ mh\s for now.
or
3. Ask for a loan for around 33-35 btc..and wait for orders for asics to be available so I can enter the market asap.

The 3rd option is very appealing to me. This is a considerable amount of money though so to get a loan might prove difficult. I dont have the greatest "normal" credit rating so getting a bank loan or using a credit card is not an option. I have a stable fixed income..I am disabled. I can provide all the documentation from bank statements to bills, gov"t issued ID..all that crap. I just have to find someone to make this happen.

So I am throwing this out here. This is a completely legit request..if you are in a position to loan me enough btc to buy an Avalon batch #3 when they become available please PM and I will provide you with what ever info you need to assure yourself that I am for real and will pay back the loan in a timely manner.

What I am looking for is a loan of say 33-35btc for 12 months at 10%? 12 payments of whatever the terms are payed on the 1st of the month. I ask for a 12 month loan so the payments are comfortable. A 6 month term is possible to and likely once mining begins with the asic. But thats on the if come. I would prefer to deal with what I know i can repay with existing income. The terms of what ever the loan are would be negotiable to make the lender happy.  This loan would only need to go into effect when Avalon opens orders for the next units.

Please..before the flames...understand that I am new and am not sure about the protocol for doing this sort of thing. If nothing else maybe I can be pointed in the right direction to make this dream a reality sooner rather than later.

Thanks
zif
  

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TradeFortress
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March 18, 2013, 10:02:09 AM
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I'm sorry but I substantially doubt that anyone will lend to you - this isn't targeted at you, but new users in general. Would you lend $1470 to a stranger on the street?

Investing in mining is better done through assets like ASICMINER or successful investment funds - because you can start off with ~$35 for ASICMINER or ~$5 for btcinvest.
zif33rs
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March 18, 2013, 04:44:11 PM
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Thanks for the honest reply TF...was pretty much the response I expected but it never hurts to ask. As far as investing in a mining fund...that is an option I will look into.

I enjoy the technical side of mining and...the joy and awe of "creating" something out of "nothing" Tongue so I am sure that as long as there is a profit to be made I will be into it. After some more thought this morning I think I am leaning towards ordering a couple of bfl jalapeno's at the 1st of the month thru pp. When and if they ship who knows but in the time that they do..I can learn more about the market and perhaps save up for a serious investment.

I am still actively looking for micro loans to establish myself as well.

Thanks
zif


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