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Author Topic: Need a loan of 2 BTC (Altcoins as collateral)  (Read 576 times)
vatived22
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May 11, 2017, 03:18:44 PM
 #1

I need a Loan of 2 BTC currently have altcoins such as RLC, HMQ, TKN, TRUST, ICN. proof http://prntscr.com/f6n8pv. As you can see these are recent ICO token and i feel that the price will appreciate and I do not want to sell at the moment. Reason for asking for the Loan is because, here in South Africa the price of bitcoin is way higher than buying from an international exchange. Hence, i buy from an international exchange and sell in SA exchanges. one could make pretty good some of money from it. i discovered that about two weeks ago, however i would like to increase my capital.

Condition for the loan

will send altcoins of the equivalent of 2BTC to an escrow service
Will offer 10% interest back at the end of 3 weeks from the day i receive the bitcoin. for 2btc you get back 2.2btc back.
A proof of my altcoins http://prntscr.com/f6n8pv

BTC address:

1PmYGCTMEWvfHH88XvVoyBsvdBfna4wA5W


Thanks

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May 11, 2017, 03:36:41 PM
 #2

private key as collateral? how could that be a collateral if you still have access to it? if you send the private key to anyone, you can still use and send the coins on it once you recieve the bitcoins right? just send your altcoins to the lender if trusted or trusted user that will act as escrow, private key isn't valid!
vatived22
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May 11, 2017, 03:42:39 PM
 #3

private key as collateral? how could that be a collateral if you still have access to it? if you send the private key to anyone, you can still use and send the coins on it once you recieve the bitcoins right? just send your altcoins to the lender if trusted or trusted user that will act as escrow, private key isn't valid!

I have mended my condition...i do get your point and you are right. Will send the altcoins to an escrow with an equivalent of 2BTC. I believe that that is fair enough.

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May 11, 2017, 03:47:37 PM
 #4

I need a Loan of 2 BTC currently have altcoins such as RLC, HMQ, TKN, TRUST, ICN. proof http://prntscr.com/f6n8pv. As you can see these are recent ICO token and i feel that the price will appreciate and I do not want to sell at the moment. Reason for asking for the Loan is because, here in South Africa the price of bitcoin is way higher than buying from an international exchange. Hence, i buy from an international exchange and sell in SA exchanges. one could make pretty good some of money from it. i discovered that about two weeks ago, however i would like to increase my capital.

Condition for the loan

We will use an escrow service
Will offer 10% interest back at the end of 3 weeks from the day i receive the bitcoin. for 2btc you get back 2.2btc back.
A proof of my altcoins http://prntscr.com/f6n8pv

BTC address:

1PmYGCTMEWvfHH88XvVoyBsvdBfna4wA5W


Thanks

You know a picture doesnt really show proof of ownership, AND a private key isnt valid because you still have access to it and could easily sweep the address(es) once you receive the btc. For this to even work (if anyone is interested), you would need to send the coins to a trusted escrow to be held (not the private keys but the token/coins itself). Once you repay the loan, the escrow will release the collateral. If you default, the escrow sends the collateral to the lender and you forfeit the coins. I also do not know if these coins are tradeable (or can be sold) for btc if you default.  

EDIT: You would need to have collateral worth 120% of what youre asking.  
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May 11, 2017, 03:48:18 PM
 #5

If these altcoins tank (which I've never heard of a single one, so let's assume that's a big possibility) why would you ever pay this loan back? You'll need a lot more than 100% collateral here as it seems the lender is taking all of the risk and only getting 10% reward.
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May 11, 2017, 06:28:45 PM
 #6

If these altcoins tank (which I've never heard of a single one, so let's assume that's a big possibility) why would you ever pay this loan back? You'll need a lot more than 100% collateral here as it seems the lender is taking all of the risk and only getting 10% reward.
Same.Highly risky collateral here.Those Altcoins are not even stable yet,nor available on exchanges if I'm not wrong.Had it been XRP/LTC/,you could have had a chance but those coins I firmly believe won't make upto 2 bitcoins by the time they're traded.
Also collateral amounts should be 120%  of your loan request.


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vatived22
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May 12, 2017, 01:16:14 AM
 #7

If these altcoins tank (which I've never heard of a single one, so let's assume that's a big possibility) why would you ever pay this loan back? You'll need a lot more than 100% collateral here as it seems the lender is taking all of the risk and only getting 10% reward.
Same.Highly risky collateral here.Those Altcoins are not even stable yet,nor available on exchanges if I'm not wrong.Had it been XRP/LTC/,you could have had a chance but those coins I firmly believe won't make upto 2 bitcoins by the time they're traded.
Also collateral amounts should be 120%  of your loan request.

I really need the loan but not desperate...please kindly do your research properly before commenting. TRUST already gave more than 5X return since listing on exchange had 32,000 TRUSTCOIN when it hit bittrex which is more than 4BTC then sold some of it, RLC is currently trading in Bittrex and the value of that is 2562 RLC is up to 1BTC. I can amend my offer and upgrade it to 120% collateral and what made you think that XRP or LTC will be stable or do well within 3 months. No one can confidently say what the value of any coin can be tomorrow including BTC. So please think before commenting. Both the lender and the borrower both take risk in any transaction, and that is why am transparent and flexible enough to use an escrow. if you aint interested keep quiet and move on, rather than commenting nonsense.

vatived22
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May 12, 2017, 01:19:37 AM
 #8

If these altcoins tank (which I've never heard of a single one, so let's assume that's a big possibility) why would you ever pay this loan back? You'll need a lot more than 100% collateral here as it seems the lender is taking all of the risk and only getting 10% reward.

Do you have quarantee that BTC wont thank tomorrow? if it does it means before i made the payment won't i also bear the loss? sometimes people like at this from one side of the coin. and yes i get your point of increasing the risk reward but there is need to also protect the lender and the borrower as well. risk affect both.

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May 12, 2017, 01:22:06 AM
 #9

Can you show us your eth address?

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FrilledShark
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May 12, 2017, 06:43:08 AM
 #10

I can fill the loan on the following conditions:
The escrow may keep the altcoins on an exchange.
The altcoins needs to be sold if the collateral value ever reaches 110%.

You pay the escrow.

(As we are doing proofs)
Look around, it is my signing address. (Note, 2 BTC of them are not mine, but if you need 10 BTC... Wink)

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High value lender – Within 24 hours, I can fund your 10 BTC loan. Give me 48 hours and 20 BTC will be ready.
As of 25-07-2017: I can not fill above 15 BTC alone, you will be invited to a group chat.
vatived22
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May 12, 2017, 08:18:34 AM
 #11

I can fill the loan on the following conditions:
The escrow may keep the altcoins on an exchange.
The altcoins needs to be sold if the collateral value ever reaches 110%.

You pay the escrow.

(As we are doing proofs)
Look around, it is my signing address. (Note, 2 BTC of them are not mine, but if you need 10 BTC... Wink)

Thank you very much now we talking...not those critiquing without understanding. What escrow service do you recommend? and what are their cost? Your above conditions are accepted by me, provided that the escrow charges is reasonable.  Thanks

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May 12, 2017, 08:43:28 AM
 #12

I can fill the loan on the following conditions:
The escrow may keep the altcoins on an exchange.
The altcoins needs to be sold if the collateral value ever reaches 110%.

You pay the escrow.

(As we are doing proofs)
Look around, it is my signing address. (Note, 2 BTC of them are not mine, but if you need 10 BTC... Wink)

Thank you very much now we talking...not those critiquing without understanding. What escrow service do you recommend? and what are their cost? Your above conditions are accepted by me, provided that the escrow charges is reasonable.  Thanks

Hello there, i can help you with this, if you want ofc.
Can you list, once more, your Alts and the amount of each one of them?

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May 12, 2017, 03:27:07 PM
 #13

Can you list, once more, your Alts and the amount of each one of them?

Useful link about altcoin price: https://coinmarketcap.com

Can you show us your eth address?

Same question here. So that we will know that this is legit.

private key as collateral? how could that be a collateral if you still have access to it? if you send the private key to anyone, you can still use and send the coins on it once you recieve the bitcoins right? just send your altcoins to the lender if trusted or trusted user that will act as escrow, private key isn't valid!

Absolutely correct.

Anyway if I have the 2 BTC in my wallet address I will try to lend this. This collateral or these altcoins are called ETH smart contract that has a good potential to make a profit in the future. Sorry to say that I don't have that amount of bitcoin.

Try to post on this thread: https://bitcointalk.org/index.php?topic=1161170.0 (Zazarb Lending Thread) AFAIK He accepts this kind of collateral.

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