FrilledShark (OP)
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February 28, 2017, 12:21:30 PM Last edit: April 12, 2017, 07:53:40 AM by FrilledShark |
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This is a thread made to track the loan between: Borrower:SagivS Lenders:2.5 Condoras0.8 Lone Shark4.7 FrilledSharkRead update: https://bitcointalk.org/index.php?topic=1808255.msg18453804#msg18453804TEMP:0.8 Gunthar Gunthar was repay: 803fa664b0222fbb7678e875e6dd9bda83e4aaf8ca91df7e8533486cc7c60adaThe address where all bitcoins are located is: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa The address can be found below, signed by me. Collateral:SagivS's Bela (Cryptocurrency). Cover at least 125% of the total loan. It is held by all lenders, according to their shares of this loan.Held by FrilledShark on Poloniex.com Update: 2017-02-28 2017-04-05 The collateral is held by FrilledShark. It is considered secured after 2000 250 confirmations. (According to updated Poloniex standarts.) 519634 400 000 519 634.2355 400 000 250 000 Bela. Was sent to the signed address here: https://bitcointalk.org/index.php?topic=1808255.msg18012299#msg18012299A stop-limit order on Poloniex are placed at 121% of collateral amount. The respective prices will be publicised after the loan are repaid. All parties knows about it and it was distributed via an automated spreadsheet. Amount:The borrower requested a 8 BTC loan. Update: 2017-02-28 4 BTC was sent to borrower, before the transaction was confirmed. The rest will be sent after the transaction is confirmed by Poloniex. Update: 2017-03-01 The last 4 BTC was sent to borrower. *Temp: As the Borrower wanted to get 8 BTC today (2017-02-28), before afternoon. FrilledShark asked Gunthar for help. He agreed to lend FrilledShark temporary enough to fill this part. This was repaid. 803fa664b0222fbb7678e875e6dd9bda83e4aaf8ca91df7e8533486cc7c60ada
The final loan details are: Amount: 8 BTC. Share belong to: 4.7 FrilledShark 2.5 Condoras 0.8 Lone Shark Interest: 11% each month. Interest: 9.76 BTC by repayment. Repayment date: May 1. Repayment address: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa This will not change. If it does, it will require more then 2 lenders to sign a message stating the new repayment address. The signed messages, originating from an address older then 2 months. THE COLLATERAL IS OTHERWISE LOST!The collateral was received and is currently held by FrilledShark. Recived on the address posted here and held on Poloniex.com
Because of the required amount of confirmations on the collateral, it was decided that only half of the total loan was provided early (2017-02-28). Bela: a2f45e24b29f402d8f382d6f3fe3e6b125fd4f73364221a97d629c44583976683112afb10c07cfc716f7bb2f2ad03558152d36f16a74264dd2efe028a45f778cfb9bda8e99e3a7c18a7f121db1ec7eaaef360e8b25007ef35327cc9ff5590d6bRequired to reach 2000 250 confirmations before considered secured. Withdrawal: c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5bBitcoin:d1b69b5cd671277f789ea3fb9b6310173eca3aef7ef328232ee763a3cd91bc98cd723c3fbefe8664964006d4b7f1fd52f1e0389ff02a138d4ca5337dfdf9170b
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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FrilledShark (OP)
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February 28, 2017, 12:22:19 PM |
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-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA512
Today is 2017-2-27. The pool address for our loan is: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa -----BEGIN PGP SIGNATURE----- Version: Keybase OpenPGP v2.0.64 Comment: https://keybase.io/crypto
wsBcBAABCgAGBQJYtD1mAAoJEDi9LTpUMdZ3HlUH/2yPbRCmis/coAMcAiNUZ6jH txLgRrgVNLBK6jmexjZX9FvgSXmyeMIbY/onR2lLTnd8XjPyjog+VhSIZgPXI+yR +M4JrkCm9p3Ii+SVg7LateUKjMERVAvzDi1a0WKP93nWQPOyo3CVEckuM5UfrQ1n k1oLSbEwXdY1G9bBU2LaXfQL6rQ5KQh475UTGDo8iTn7j3e8dN+3ShtNQiLJY58y m/FveEX2CJnXp6OIaiXl22kgVnjrat4Ad9lMyFcpeGTfsPl/IwJTuZ4y8hBFkjkC 3sZ2DhQVcCszpTlR2YSaTXY3Skzk/JaAX4vFkl8HZtyTcVAIsEABQXogfEU91Qg= =b9Lj -----END PGP SIGNATURE----- -----BEGIN BITCOIN SIGNED MESSAGE----- Today is 2017-2-27. The pool address for our loan is: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa -----BEGIN SIGNATURE----- IFY8v8/Fslsi8MEKK4onE4XE3i9lqr7zNdO2DxKNqj5PWaJsHjAdZPQ7oM9LXh1vOhBOj6rtv4CfvS4F6mmdHHQ= -----END BITCOIN SIGNED MESSAGE-----
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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DarkStar_
Legendary
Offline
Activity: 2772
Merit: 3282
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February 28, 2017, 02:46:07 PM |
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Could you PM me more info? I might be able to fill another BTC or more.
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taking a break - expect delayed responses
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Lone Shark
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February 28, 2017, 02:57:50 PM |
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Could you PM me more info? I might be able to fill another BTC or more.
Hi DarkStar_, this is actually not a loan application or request. We are just here to publicize the loan transcation that would be going down. We are all just finalizing the agreement. Thank you for your interest though. Cheers, Lone Shark
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FrilledShark (OP)
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February 28, 2017, 04:02:23 PM |
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Bela address: BSMgHScyeWQwWfC8bNUhv583RpUsh1sQEE -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA512
Bela: BSMgHScyeWQwWfC8bNUhv583RpUsh1sQEE
Today: 2017-02-28 -----BEGIN PGP SIGNATURE----- Version: Keybase OpenPGP v2.0.64 Comment: https://keybase.io/crypto
wsBcBAABCgAGBQJYtZ6CAAoJEDi9LTpUMdZ3LmsH/jv6Dq+chyietwUSlIqlh7Mi GR3K3sLH0GNlH167mazjGST4pUvAeX6yVkvf2030J0ZyO1QeSSPit86ukjB6BRId YvMJlR7imnoVb23nGjMoOOGv8j4RQ+kN/gKJJb1OugrfLATTtlTXPGv+RDAdhRSc FhH6Yj4YKWgQc6tG7eGKt7kjRYfZ3qdNrubOGhbj7iJNNZ7hKbEnYEOOArxjAf8e yRmb6ASR5f0LDfz0gpvbqNsE6yZslEFIqpSvROWS9RFTGVMHJkJn1hUB8uU1YoDr dMup3xX8a05KX3IZOX8DsSytIO/V2vP1JdTJI155DvY6hfJIfDj30mz3ialS0b0= =wQo0 -----END PGP SIGNATURE----- -----BEGIN BITCOIN SIGNED MESSAGE----- Bela: BSMgHScyeWQwWfC8bNUhv583RpUsh1sQEE
Today: 2017-02-28 -----BEGIN SIGNATURE----- 1EJmUKAbfbhoTBpFnSKZ4Y4GhXatttPUPU Hzcc1jYElT4dWEMbMDAgJ9DN3wwcQRQnj1QJIWQpYDWrP/vGl+MvJVNhtGdPPlKZVPKF5qmdFMAo0HFrLbD/U1M= -----END BITCOIN SIGNED MESSAGE-----
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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Lone Shark
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March 01, 2017, 01:32:14 AM |
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-----BEGIN BITCOIN SIGNED MESSAGE----- Lone Shark | March 1, 2017 9:27 +8GMT
This message is for the purpose of confirming this loan agreement. I confirm the following:
1. SagivS has contacted me for a loan of 8 BTC for his 12 BTC worth of Bela. 2. We have agreed to the terms. 3. I have a stake of 0.8 BTC in this loan. The rest are split between FrilledShark and Condoras, with the former having majority share. 4. All BTC have been pooled in the address 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa. Said address is under FrilledShark's control. 5. SagivS sent the 250,000 BELA coins to FrilledShark's Poloniex BELA address which is BSMgHScyeWQwWfC8bNUhv583RpUsh1sQEE. 6. We ran into problems with the required confirmations. BELA requires 2,000 confirmations on Poloniex which will take 2,000 * 2 minutes or 2.77 days. Which is stupid if you ask me. 7. As to appease both sides, we agreed to release half of the BTC loan while we are waiting for the BELA to confirm. The TX for this is d1b69b5cd671277f789ea3fb9b6310173eca3aef7ef328232ee763a3cd91bc98. 8. As of this writing we have 240 confirmations on the BELA transaction.
Please be advised. -----BEGIN SIGNATURE----- 1SHArkGXkgvz4id6ih7bSuDqTM4gFHV6i HIipbLpHUuav8MXTuHL2k5qB2kNgggOuQGZJyYv0xJJtAIy2JfmVLJiKJTTI9KAAqQYC2K6cIYAV9mLTuLRi1P0= -----END BITCOIN SIGNED MESSAGE-----
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Quickseller
Copper Member
Legendary
Offline
Activity: 2926
Merit: 2347
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March 01, 2017, 06:14:38 AM |
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Just a heads up guys, the BELA/BTC price has increased ~4x in the past month (with a recent spike to 6x where it was a month ago), and around 12x since Sept 1 of last year. Also, in order to sell 8BTC of BELA, you will have about 2.5% in slippage based on the current orderbook on polo, and around 4.5% worth of slippage to sell 12BTC worth of BELA.
I am also not familiar with BELA, however if poloinex is asking for a certain number of confirmations, there is a good chance there is a good reason for this. I am not sure how centralized the mining (or equivalent) is for this coin.
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Lone Shark
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March 01, 2017, 06:20:33 AM |
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Just a heads up guys, the BELA/BTC price has increased ~4x in the past month (with a recent spike to 6x where it was a month ago), and around 12x since Sept 1 of last year. Also, in order to sell 8BTC of BELA, you will have about 2.5% in slippage based on the current orderbook on polo, and around 4.5% worth of slippage to sell 12BTC worth of BELA.
I am also not familiar with BELA, however if poloinex is asking for a certain number of confirmations, there is a good chance there is a good reason for this. I am not sure how centralized the mining (or equivalent) is for this coin.
Yes, we calculated for slippage and secured that aspect of the loan. That is why we have a 150% collateral with Stop at 121% and Loss at 115%. The only problem was that we did not expect a 2,000 confirmation requirement from Polo. 2,000 confirmations is 2.77 days which is totally unreasonable for any security reason, I think.
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Quickseller
Copper Member
Legendary
Offline
Activity: 2926
Merit: 2347
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March 01, 2017, 06:43:57 AM |
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From what I can tell, it looks like the "official" website of BELA, http://belacoin.org/ lists 5 pools, one of them seems to no longer be existent, and another is reporting mining 0 miners mining BELA currently. So it looks like that mining might be fairly centralized, and I have personally never heard of the pools, and cannot say how trustworthy/reputable those pools are. I am not saying that you guys are in the middle of getting scammed, I am just saying that there are some risks of funding (part of) the loan prior to poloinex accepting the deposit. But then again, lending is the managing of risk, and balancing that risk with the potential reward of profiting engaging in certain transactions.
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FrilledShark (OP)
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March 01, 2017, 07:17:43 AM Last edit: March 01, 2017, 09:29:45 AM by FrilledShark |
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From what I can tell, it looks like the "official" website of BELA, http://belacoin.org/ lists 5 pools, one of them seems to no longer be existent, and another is reporting mining 0 miners mining BELA currently. So it looks like that mining might be fairly centralized, and I have personally never heard of the pools, and cannot say how trustworthy/reputable those pools are. I am not saying that you guys are in the middle of getting scammed, I am just saying that there are some risks of funding (part of) the loan prior to poloinex accepting the deposit. But then again, lending is the managing of risk, and balancing that risk with the potential reward of profiting engaging in certain transactions. We are certainly aware of this. We have looked at the risks and discussed them. We are currently looking at 2 very different risks. 1: Double spend by borrower. This risk is certainly very important, as it would result in a full loss of the collateral. We waited for about 90 confirmations, before we partially filled the loan. This was done, as the borrower has stated that they were sent from Poloniex. To back this up, he was able to prove this with screenshots. 2: Collateral losing value This risk is the biggest. As we are pretty sure the transaction came from Poloniex. We do not believe the collateral falls more then 50% in value, which is enough to cover the part we already filled. A cryptocurrency falling more then 50% in value is not unheard of, but it is a low risk. We can't isolate one of the risk, without worrying about the other.
Edit: I have updated the thread with more information regarding what was discussed yesterday.
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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Lone Shark
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March 01, 2017, 02:42:35 PM |
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Updates: 1. Sagiv added more collateral in light of the price drop of BELA. He added another 150,000 BELA. A total of 400,000 BELAs are now in possession of FrilledShark's poloniex account. 2. We have completed the 8 BTC loan. We sent the remaining 4 BTC via TX ID: https://blockchain.info/tx/cd723c3fbefe8664964006d4b7f1fd52f1e0389ff02a138d4ca5337dfdf9170b3. Agreement back on track because the 400,000 BELA is worth 12btc which is 150% collateral versus our 8 BTC loan given to borrower.
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goldfish17
Newbie
Offline
Activity: 29
Merit: 0
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March 05, 2017, 06:29:30 AM |
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I would be willing to fill up to 3.0 btc of this loan as well. Will PM OP
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Lone Shark
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March 05, 2017, 11:58:10 AM |
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I would be willing to fill up to 3.0 btc of this loan as well. Will PM OP
Didn't I tell you that this has already been filled?
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FrilledShark (OP)
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March 09, 2017, 03:16:12 PM Last edit: March 09, 2017, 03:26:37 PM by FrilledShark |
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The collateral amount were reduced by 119634.23550000 Bela. Because of the recent rice in Bela, the borrower requested the last part of his collateral back. All lenders agreed. The ID is: c7cd77240552c6843dfc1c9241a5bf8d0b48834e7d76250d297c515ac20afc5b
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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FrilledShark (OP)
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April 06, 2017, 12:54:32 PM |
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New repayment strategy: "On friday 3.5 btc will be transferred to 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa and 25k USD worth of bela will be transferred to B4Z7D2RGfCFPnHZxx2xyJ3fGo7tFUts5Pe On saturday 3.5 btc will be transferred to 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa and 25k USD worth of bela will be transferred to BEGFLSHmyLDSr181A7gPodpuirCsumbJdH On sunday the remaining btc of the loan will be transferred to 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa and 25k USD worth of bela will be transferred to BEGFLSHmyLDSr181A7gPodpuirCsumbJdH On monday the remaining bela will be sent to BEGFLSHmyLDSr181A7gPodpuirCsumbJdH"
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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zazarb
Legendary
Offline
Activity: 3430
Merit: 1548
Get loan in just five minutes goo.gl/8WMW6n
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April 07, 2017, 08:36:40 AM |
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Update requested by borrower: I have held 519k Bela and hold 519k Bela currently. Main post will be updated in 24 hours. Discussions have been ongoing about repayment types.
Post updated -snip-
the arithmetic okay?you did not make a mistake?
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Lone Shark
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April 07, 2017, 08:43:52 AM |
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Update requested by borrower: I have held 519k Bela and hold 519k Bela currently. Main post will be updated in 24 hours. Discussions have been ongoing about repayment types.
Post updated -snip-
the arithmetic okay?you did not make a mistake? Probably a minor mistake. I have informed FrilledShark about it.
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FrilledShark (OP)
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April 07, 2017, 09:36:01 AM |
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Update requested by borrower: I have held 519k Bela and hold 519k Bela currently. Main post will be updated in 24 hours. Discussions have been ongoing about repayment types.
Post updated -snip-
the arithmetic okay?you did not make a mistake? There were transferred 119K Bela back to me to hold as collateral. A lot of changes are made as time goes on. It is not an error, I just forgot to update the post with the transaction I got from him. It is not possible for me alone to post every single update and change of the borrower's mind here.
Yet another update: The repayment process has begun: Yesterday Sagivs repaid 3.5 BTC: f1bf43c8ec29fcff28c903cad6ae46faa93041bd737697e2175a08146a09bf21 25k worth of bela was released to the lender: 6ea033c99fbf7d35e02dccff3a3625ea6780ffb83d1d91a373c349bdbd4dab1d
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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FrilledShark (OP)
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April 12, 2017, 07:53:06 AM |
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Loan is repaid, collateral returned and all lenders got their Bitcoins back. As the collateral was returned over multiple withdrawals, transactions IDs will only be posted if necessary.
The rest of the transactions are as visible from the address: 1ZEYEyyuAaD5k1HSzUA3b1GTbjx1RrdGa Lone Shark was sent 0.9173 BTC.
I would like to thank everyone participating and posting.
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Not very active. Please use PM or email to get a reply from me. High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
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