Need 3000 NAMECOINS

[legendster]

Bitcoins usually work well.

Generally in order to avoid usury regulations about interest rates and stuff like that one creates a set of options that simulate the effect of a loan.

For example find out how many bitcoins 3000 NMC is worth, multiply that by two, and for that many bitcoins you buy 3000 namecoins AND an OPTION to buy that same number of bitcoins back for however many namecoins a loan plus interest would amount to over the timespan that the option remains open.

That way you have an option to buy bitcoins really cheap (that is to say, to get your collateral back in return for the coins you loaned plus interest) and the use of the number of coins you wanted to borrow.

This way if you fail to exercise the option (aka, repay the loan) you forfeit the amount of the collateral that you failed to exercise your buy-back option on.

Make sense?

Why you do this instead of simply buying namecoins is you get to benefit from any gain in bitcoin value during the span of time involved, whereas had you spent the bitcoin you might find them very expensive to buy back later if they go up a lot in value while you are playing with namecoins.

-MarkM-

Why else do you think I am applying for a NMC loan ? its near to worthless to many and few sites actually allow you to exchange these so I thought since NMC is not that much in demand it should carry a lower risk for the lender to lend me.

Anyways your input is highly valuable but does me no good in acquiring a lender so BUMP

[legendster]

Bump WOW so much activity here

[legendster]

Your request seems really weird.
With 3000 NMC you get 300000 registered names. What kind of project would need that right away?

I just wish to trade these for Bitcoins or Litecoins at btc-e .. I applied for a NMC loan because its very low risk for the lender, and that is because this currency is almost considered worthless.

Then trade with them & pay back the buyer.

Who knows if anyone who has a stockpile of 3k NMC & loans me that amount & with me exchanging that on BTC-e I might bring in more circulation to this currency & maybe perhaps rise it's value.

[legendster]

BUMP

[BBQKorv]

Your request seems really weird.
With 3000 NMC you get 300000 registered names. What kind of project would need that right away?

I just wish to trade these for Bitcoins or Litecoins at btc-e .. I applied for a NMC loan because its very low risk for the lender, and that is because this currency is almost considered worthless.

Then trade with them & pay back the buyer.

Who knows if anyone who has a stockpile of 3k NMC & loans me that amount & with me exchanging that on BTC-e I might bring in more circulation to this currency & maybe perhaps rise it's value.

I don't see how this is any lesser risk than lending you the required amount of BTC/LTC directly. You are asking for a 27 BTC worth of loan in here regardless of the actual currency the trade is agreed on.

Would you personally lend that 3000$ for a stranger on the internet?

[Blazr]

Who knows if anyone who has a stockpile of 3k NMC & loans me that amount

Why doesn't someone with 3k NMC just sell them for BTC and avoid lending them at all?

NMC doesn't reduce the risk for the lender at all.

& with me exchanging that on BTC-e I might bring in more circulation to this currency & maybe perhaps rise it's value.

Once you sell the NMC, the price will drop, I don't even think BTC-e has enough liquidity on the NMC market to fulfill a $3k sell, you'll probably cause a crash if anything and net yourself way less than $3k in the end.

Anyways this is all besides the point because nobody is going to lend you $3k.

[legendster]

Good point from both of you.

Point to Note : I have already applied for a 25 BTC loan : https://bitcointalk.org/index.php?topic=172696.0

If get either of these loans it'd work for me.

If you follow that link you'd see my idea of how I plan to use this loan amount has shifted from Buying an ASIC + Trading to simply Trading and THEN buy an Asic AFTER I've repaid the lender.

As to the fact WHY someone should loan any money to anyone well that is a debatable topic. I applied for a loan because I know I can contribute to this community by bringing BTC to my country & increasing the liquidity here I just lack the monetary strength to do it.

I understand the good old supply/demand curve in any kind of trading, I just applied for such a loan because few months ago NMC was considered useless. One such users who had a huge stockpile was literally ready to give away all his NMC to me & that person was a complete stranger, the only reason he didnt do it cuz we were talking in an open chat channel and another guy prompted him that NMC can be exchanged & he said what one of you guys said : "If I can exchange this, why should I give it away for free ?"

The bottom line is, I need help becoming an ACTIVE bitcoin-er, and I cant do it without the community's help. hate me, call me a beggar, call me a scammer, it will piss me off it will disgust me, but it wont deter me or change the way I am or the point of view that I have.

Your request seems really weird.
With 3000 NMC you get 300000 registered names. What kind of project would need that right away?

I just wish to trade these for Bitcoins or Litecoins at btc-e .. I applied for a NMC loan because its very low risk for the lender, and that is because this currency is almost considered worthless.

Then trade with them & pay back the buyer.

Who knows if anyone who has a stockpile of 3k NMC & loans me that amount & with me exchanging that on BTC-e I might bring in more circulation to this currency & maybe perhaps rise it's value.

I don't see how this is any lesser risk than lending you the required amount of BTC/LTC directly. You are asking for a 27 BTC worth of loan in here regardless of the actual currency the trade is agreed on.

Would you personally lend that 3000$ for a stranger on the internet?

People lent thousands of dollars if not millions to BFL didnt they ? and I am just ONE guy asking for a genuine help to actually expand the horizon of Bitcoins in my country AND make a living out of it. I am an Indian $200 a month and my family's sorted for a month. Well.. If not exactly a 'living' out of it but at least some profit out of it. I cant JUSTIFY the reason as to why anyone should lend me anything, but here I am asking for help & sure as hell would be glad if & when I get that help.

[markm]

You could mine a whole bunch of insanely low difficulty coins using just a CPU, like so many people did for so many months with BBQcoin, then sell the coins for bitcoins when an exchange opens, like is supposedly about to happen for BBQcoin.

Heck the BBQcoins you could have mined with just a CPU would sell for a lot right now even before any exchanges have opened.

There are still coins that can be mined as easily as BBQcoins used to be mined, so it is not too late to stock up on them before they follow in BBQcoin's footsteps. The CPU miners mining them right now are hoping that won't happen for a while of course, because first they want to get the best price for their BBQcoins before distracting the market to the next "sleeper" coin and also because they want to continue raking in coins with a CPU as long as possible before attracting GPU miners by opening exchanges for the coins.

-MarkM-

[BBQKorv]

You could mine a whole bunch of insanely low difficulty coins using just a CPU, like so many people did for so many months with BBQcoin, then sell the coins for bitcoins when an exchange opens, like is supposedly about to happn for BBQcoin.

Heck the BBQcoins you could have mined with just a CPU would sell for a lot right now even before any exchanges have opened.

There are still coins that can be mined as easily as BBQcoins used to be mined, so it is not too late to stock up on them before they follow in BBQcoin's footsteps. The CPU miners mining them right now are hoping that won't happen for a while of course, because first they want to get the best price for their BBQcoins before distracting the market to the next "sleeper" coin and also because they want to continue raking in coins with a CPU as long as possible before attracting GPU miners by opening exchanges for the coins.

-MarkM-

+1

And to the trading, you can start small. If your net income is $200/month then that 3k$ is 15 months net income. Thats a big money for everyone regardless of the actual sum.

[legendster]

You could mine a whole bunch of insanely low difficulty coins using just a CPU, like so many people did for so many months with BBQcoin, then sell the coins for bitcoins when an exchange opens, like is supposedly about to happn for BBQcoin.

Heck the BBQcoins you could have mined with just a CPU would sell for a lot right now even before any exchanges have opened.

There are still coins that can be mined as easily as BBQcoins used to be mined, so it is not too late to stock up on them before they follow in BBQcoin's footsteps. The CPU miners mining them right now are hoping that won't happen for a while of course, because first they want to get the best price for their BBQcoins before distracting the market to the next "sleeper" coin and also because they want to continue raking in coins with a CPU as long as possible before attracting GPU miners by opening exchanges for the coins.

-MarkM-

+1

And to the trading, you can start small. If your net income is $200/month then that 3k$ is 15 months net income. Thats a big money for everyone regardless of the actual sum.

Agreed. I have been mining TRC for a while.
I personally dont think that all these alternate coins will be as successful as BTC or TRC or NMC, but I will give this Barbeque a Shot ..

but collecting coins for future use is a long term plan and I m doing that .. well as much as I possibly can. But I want in on the action now because i m already late in the crypto revolution considering my entry in this forum is barely a month old.

[markm]

Um, I think you missed a little.

BBQcoin is no longer a "sleeper" sitting there being quietly mined in a civilised manner by CPU miners, all co-operating in keeping the difficulty low so they all profit together at the lowest dfficulty that many miners can keep it at.

Admittedly if BBQcoin were on those sites that purport to show relative profitablity, it would have been way way up there in profitability 24 hours ago before I mentioned its actual difficulty and price on a thread that showed one of those sites' profitability tables, but the difficulty doubled very soon after I posted there.

Go ahead and chase the in the limelight "profitable" coins with your GPU farms sure, but the big point was point a CPU core at each of the "sleepers", those are bad to point much power at as you would just drive up the difficulty so it would be a waste of power. A core per "sleeper" for however long they are able to stay "sleeping" works out very well for all the CPU miners lullabying it through its "sleep".

Start raping it with high power and you just force others to also throw more power at it, leading directly back to the same old power-wasting arms-race, in effect waking it up before you have even had many months of quietly accumulating its coins day in and day out, so you come out less well off faster. Aesop wrote about GPU miners and CPU miners, he called GPU miners "the hare" and CPU miners "the tortoise".

-MarkM-

[legendster]

Um, I think you missed a little.

BBQcoin is no longer a "sleeper" sitting there being quietly mined in a civilised manner by CPU miners, all co-operating in keeping the difficulty low so they all profit together at the lowest dfficulty that many miners can keep it at.

Admittedly if BBQcoin were on those sites that purport to show relative profitablity, it would have been way way up there in profitability 24 hours ago before I mentioned its actual difficulty and price on a thread that showed one of those sites' profitability tables, but the difficulty doubled very soon after I posted there.

Go ahead and chase the in the limelight "profitable" coins with your GPU farms sure, but the big point was point a CPU core at each of the "sleepers", those are bad to point much power at as you would just drive up the difficulty so it would be a waste of power. A core per "sleeper" for however long they are able to stay "sleeping" works out very well for all the CPU miners lullabying it through its "sleep".

Start raping it with high power and you just force others to also throw more power at it, leading directly back to the same old power-wasting arms-race, in effect waking it up before you have even had many months of quietly accumulating its coins day in and day out, so you come out less well off faster. Aesop wrote about GPU miners and CPU miners, he called GPU miners "the hare" and CPU miners "the tortoise".

-MarkM-

So its kind of a paradox. Which leads me back to asking for a loan.. again -_- so BUMP

[legendster]

https://bitcointalk.org/index.php?topic=200156.0

[twobits]

I just wish to trade these for Bitcoins or Litecoins at btc-e .. I applied for a NMC loan because its very low risk for the lender, and that is because this currency is almost considered worthless.

Then trade with them & pay back the buyer.

Who knows if anyone who has a stockpile of 3k NMC & loans me that amount & with me exchanging that on BTC-e I might bring in more circulation to this currency & maybe perhaps rise it's value.

I actually rather like my NMC, and they are not so easy to mine anymore.

If you want to start out low risk and build some reputation like you say,  I would be willing to lend you 5000 devcoins.   You would have to sign up at Vircurex using my referral id as part of the deal.  You can then prove your abilities to trade and profit and bootstrap like you wanted to with the NMC, just at a lower starting point then you were trying for.

[legendster]

I just wish to trade these for Bitcoins or Litecoins at btc-e .. I applied for a NMC loan because its very low risk for the lender, and that is because this currency is almost considered worthless.

Then trade with them & pay back the buyer.

Who knows if anyone who has a stockpile of 3k NMC & loans me that amount & with me exchanging that on BTC-e I might bring in more circulation to this currency & maybe perhaps rise it's value.

I actually rather like my NMC, and they are not so easy to mine anymore.

If you want to start out low risk and build some reputation like you say,  I would be willing to lend you 5000 devcoins.   You would have to sign up at Vircurex using my referral id as part of the deal.  You can then prove your abilities to trade and profit and bootstrap like you wanted to with the NMC, just at a lower starting point then you were trying for.

Sounds interesting and definitely Interested.
Pm me more

[legendster]

twobits has not respnded to my PM's.

Plus I heard Vircurex got hacked.


So Bump.

[legendster]

namecoin.com is BACk. So Bump.