[ANN] Earn interest on your bitcoins! CoinLenders pays out interest on deposits.

[🏰 TradeFortress 🏰]

CoinLenders currently pays 0.51% / week compound interest (paid daily, prorated) - that's more than 30% APR on personally insured deposits. Although in case of a massive default I will make every attempt to pay everyone back including from my personal assets, it is not a FDIC insured bank and don't put more coins than you're willing to lose there.

Your coins would be used for funding low risk loans (aka not the typical btcjam crap), and other bitcoin denominated investments.

For more info, see this page!

[lampshad3]

I like the idea, deposited a small amount to give it a shot at least, hoping for some good things out of this!

[starsoccer9]

I think if you want to make sure its well back/insured you should give 50% or even 100% of any coins deposited into escrow in the case of a default. By this I mean if 50 users deposit a total of 100coins then you should give escrow 100coins in the case of a defunct.Also I would make sure that the escrows are split up between escrows. Maybe a max of X coins per person.

You could also do something with multikeys and have a privite key generated and signed with multiple keys give to X trusted members on the forum. You keep the names privite and in the case of a defunct that one would start a thread and the other would reveal themselves.

[lampshad3]

Update, started getting my interest payments into my account, will wait a few days to test the withdrawal and all that, but so far so good!

[🏰 TradeFortress 🏰]

I think if you want to make sure its well back/insured you should give 50% or even 100% of any coins deposited into escrow in the case of a default. By this I mean if 50 users deposit a total of 100coins then you should give escrow 100coins in the case of a defunct.Also I would make sure that the escrows are split up between escrows. Maybe a max of X coins per person.

You could also do something with multikeys and have a privite key generated and signed with multiple keys give to X trusted members on the forum. You keep the names privite and in the case of a defunct that one would start a thread and the other would reveal themselves.

That would limit my trading possibilities, and would overall make me lose a lot of money (if I hadn't sold most of my BTC above $200 to buy back cheaper, for example). I think shares and things that I hold over a long period of time would work better

Update, started getting my interest payments into my account, will wait a few days to test the withdrawal and all that, but so far so good!

There won't be any problems with withdraw, hot pocket has a lot more coins because of loans I issued with my own capital previously

[001sonkit]

Hi Glados, nice to meet you again, just a few questions.
1:Will you have financial reports of the system to show the financial status of your site or yourself?
2:Is there a maximum deposit amount?

Casper

[🏰 TradeFortress 🏰]

Hi Casper,

1. Yup! I already do reports for btcinvest twice every month, and for coinlenders I plan on having reports once a month or so. I am not disclosing my own personal financial information, because, well, it's private.
2. No. When our capital grows bigger a smaller portion of it would be taken up by loans, I'd start funding larger projects & invest on a larger scale, along with lowered interest rates offered.

If it ever gets to a point where I am holding a ridiculous amount of coins then I'd keep pushing the interest rate down so I get to pay less interest and have an amount of funds that I can insure.

3. Your style of sig looks familiar

[keatonatron]

By this I mean if 50 users deposit a total of 100coins then you should give escrow 100coins in the case of a defunct.

Good idea in theory, but if he already has the coins why would he need to borrow them from people? The point of letting people invest is that he needs the extra coins to make it work. If he has to put just as many into escrow as he is getting, then his total pool available to work with doesn't increase in size and there's nothing to invest in!

[001sonkit]

3. Your style of sig looks familiar

Bingo! *wink*
Yours' are attractive


and we found a loser on SatoshiOption~~

[Chris Acheson]

Can you tell us more about yourself? Real name, location, picture, etc? Can you give specific examples of what kinds of things you invest in that would justify 30% yearly interest on bitcoin deposits (which already appreciate at a fairly ridiculous rate on their own)?

[theGECK]

I realize you've only been open 3 days now, but have any loans been made yet? When loans are made, are they going to be private, or public (at least on an address basis)?

[🏰 TradeFortress 🏰]

I realize you've only been open 3 days now, but have any loans been made yet? When loans are made, are they going to be private, or public (at least on an address basis)?

It has being open for longer (only started paying interest 3 days ago). - check this thread https://bitcointalk.org/index.php?topic=159359.0

Can you tell us more about yourself? Real name, location, picture, etc? Can you give specific examples of what kinds of things you invest in that would justify 30% yearly interest on bitcoin deposits (which already appreciate at a fairly ridiculous rate on their own)?

Yup, please check out btcinvest's reports on how it earns ~30% yearly (even when 1/3 of the coins were tied up in the Bakewell scam).

Putting money in a bank and buying BTCBONDS isn't going to get you a large return, but actual investing/trading (for example, buy ASICMINER at 0.5 which I did limited by my funds, now 50% >100% return in a few months).

[🏰 TradeFortress 🏰]

If you were having any issues confirming your account (through the link), please try to activate your account again.

Let me know if you have any issues.

[🏰 TradeFortress 🏰]

Update:
Server issue fixed. Nothing was compromised (user error on my part, viewing control panel for old server), but it's good to be sure

[starsoccer9]

deposited 1btc. Guess ill wait and see what happens.

Also I didnt get you thank you for stealing my idea that I told you about

[🏰 TradeFortress 🏰]

BTCJAM already does it, and I've being doing ID checks before you told me about this idea. It's also being a month.

[stephwen]

deposited 1btc. Guess ill wait and see what happens.

Also I didnt get you thank you for stealing my idea that I told you about

An idea is worth nothing. Execution is everything. 

[starsoccer9]

agreed, it was my fault for having faith or any trust in such a scummy person

[dance4x]

agreed, it was my fault for having faith or any trust in such a scummy person

who is the scummy person and why are they scummy?

[🏰 TradeFortress 🏰]

Do you think I won't be asking for ID if you haven't told me about this idea even through I've being doing it since 2012?

If you have an issue with it, please let me know in private, not trying to stir up drama.