Loan Needed for New Casino With Collateral

[tobeyrowe]

Hi, I had previously posted in the securities section of this forum about a new casino that I am trying to start and that I was asking for investors but now that I have gotten responses on the post I have come to the conclusion that none of the responders are actually wanting to invest in the casino so I am posting this as a loan with the casino and everything as collateral on the loan so if for some reason I am not able to make enough money to pay back the loan I will of course give up the casino and everything related to the casino including the website and domain name to the investors of the loan as collateral. Also I am asking that the investors in this loan not put a time frame on how long they will give me to pay back the loan in full and for that I will give up equity in the casino as a way of saying thank you for allowing me to pay the loan back when I can from the money made from the casino. And the equity would of course be kept by the investors even after the loan is paid off. And even though I would be able to pay the loan back as I get the money from the casino I still know that there is the possibility that the casino will not make it so that's why I went ahead and posted about the collateral just in case. Also just so you all know the software alone for the casino will be worth roughly 32 Bitcoin and I am asking for a 40 Bitcoin loan in order to buy the software, domain name, website, and pay for advertisement and promotions. Also it might be worth pointing out that I will not have to pay for bankroll since I will be using the MoneyPot Bitcoin API for the casino in order for me not to have to worry about bankroll.

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[Atomicat]

Future business isn't a valid form of collateral. Read the sticky threads of this section.

Also 40 Bitcoins is a lot to risk without a valid collateral.

[Frosxh]

for example, i can ask a 100000btc loan and provide google company as collateral coz i have plans to buy the company and run it. would you trust me and give the me loan amount with only my WORD as collateral?

[Patatas]

Hi, I had previously posted in the securities section of this forum about a new casino that I am trying to start and that I was asking for investors but now that I have gotten responses on the post I have come to the conclusion that none of the responders are actually wanting to invest in the casino

You're wrong.They're ready to invest in a casino that exists and not just an imagination.Since you know no one is interested in investing,why start this thread ?

I am not able to make enough money to pay back the loan I will of course give up the casino and everything related to the casino including the website and domain name to the investors of the loan as collateral.

I doubt you even have a clue what a collateral is.Please read the stickies or google.com.What to do with  your failed casino if investors gave you 40 bitcoins?  

Also I am asking that the investors in this loan not put a time frame on how long they will give me to pay back the loan in full and for that I will give up equity in the casino as a way of saying thank you for allowing me to pay the loan back when I can from the money made from the casino.

And what makes you think your casino will be a successful one? Do you know the market?

 for the casino will be worth roughly 32 Bitcoin and I am asking for a 40 Bitcoin loan in order to buy the software, domain name, website, and pay for advertisement and promotions. Also it might be worth pointing out that I will not have to pay for bankroll since I will be using the MoneyPot Bitcoin API for the casino in order for me not to have to worry about bankroll.

So you've the software,the domains and everything.Do you think your casino will automatically start minting money ? If I was you,I wouldn't start a casino even if I had 40 bitcoins.

[Doamader]

This just wanna scam a small ammount, usually people do request something like 0,05 to 0,10btc to get a non colateral loan, why you think op someone will lend you 40 btc without any valid colater?

[knightkon]

Your casino and website are not valid collateral because you would not be giving control of them while the lender awaits repayment.  If the site was making something now, that might be valid collateral, however when you use something as collateral, you have no use or control over it unless you go to a bank for the loan.  No banks here, sorry.

[DarkStar_]

Also just so you all know the software alone for the casino will be worth roughly 32 Bitcoin and I am asking for a 40 Bitcoin loan in order to buy the software, domain name, website, and pay for advertisement and promotions. Also it might be worth pointing out that I will not have to pay for bankroll since I will be using the MoneyPot Bitcoin API for the casino in order for me not to have to worry about bankroll.

BetterBets.io costed under 20k$ USD to build, which is 31.75BTC today and BB is the most successful MoneyPot casino (highest wagered). Why do you need that much more money to build your own app, and how will you get the money to repay everyone? You would need 8000BTC wagered to repay from profit alone, assuming you have a 1% house edge. Also, what are your selling points, or why should I play at your casino instead of JackpotRacer, Bit-Exo, Bubblesbit or BetterBets?

[tobeyrowe]

Also just so you all know the software alone for the casino will be worth roughly 32 Bitcoin and I am asking for a 40 Bitcoin loan in order to buy the software, domain name, website, and pay for advertisement and promotions. Also it might be worth pointing out that I will not have to pay for bankroll since I will be using the MoneyPot Bitcoin API for the casino in order for me not to have to worry about bankroll.

BetterBets.io costed under 20k$ USD to build, which is 31.75BTC today and BB is the most successful MoneyPot casino (highest wagered). Why do you need that much more money to build your own app, and how will you get the money to repay everyone? You would need 8000BTC wagered to repay from profit alone, assuming you have a 1% house edge. Also, what are your selling points, or why should I play at your casino instead of JackpotRacer, Bit-Exo, Bubblesbit or BetterBets?

Okay first I will start out by saying the 32 Bitcoin I need to build the casino is roughly that much I was just taking into consideration that I have to pay the developer in USD and I noticed that the price of Bitcoin has dropped a little and I didn't want to cut myself short by asking for only 31.75 Bitcoin to be able to pay the developer. Also I need another 8 Bitcoin to have enough to pay for advertisements and promotions. So that would total the 40 Bitcoin I am asking for. And I would only need roughly 4,500 bitcoin to be wagered on a 1% house edge in order to pay everyone back because I would be offering a 12.5% interest. But I'm not just offering the 12.5% interest I am also offering some equity in the business for the investors because I want to give the a reason to invest and feel part of the business and not just feel like its only a loan and so if the casino goes up so does the investors. But because I am paying back the investment the investors will not get a bunch of equity because they would still be getting their money back plus interest. But if the investors decide they would rather it be an equity investment and not need to be repaid back as a loan then I would of course give up a lot more equity like I'm thinking 60% equity to the investors and 40% for me which this would be done if the investments are not loans but investments into the business. And that's how I would rather it be anyways but I tried posting about it in the securities section but no one really showed any interest in investing.

[tobeyrowe]

Your casino and website are not valid collateral because you would not be giving control of them while the lender awaits repayment.  If the site was making something now, that might be valid collateral, however when you use something as collateral, you have no use or control over it unless you go to a bank for the loan.  No banks here, sorry.

And I am sorry I did not know that the website and everything could not be used as collateral. So I guess I do not have any collateral then.

[tobeyrowe]

By the way I had already created a token on the counterparty wallet to offer to the investors as a share in the business with each token equaling 0.001% equity in the business with a total of 100,000 shares. The tokens name is A17405905917904734000 which I tried to give it a custom name but for some reason it wouldn't let me so I had to go with a random number name in order to make it. So if you use the counterparty wallet and you are interested in investing in equity in the business then please copy and past that long number with the letter A at the beginning into the section of the market exchange that says "Select another pair" and then select XCP as the currency to find it. I have already sent a sell order of 1,000 tokens or shares at a price of 0.5 XCP per share and if I can get any investments I will turn the XCP into Bitcoin and USD in order to do what needs to be done to buy the casino software and do the advertising and everything. But at the moment it is processing which takes time so if you go look at the token or share soon after I post this then it might not be there right away so please give it some time to process. And I will be posting this exact same message onto the other thread in the securities section that I had made before making this one just to let them know even though I don't see them investing but its worth at least posting it there just to see.