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abvhiael (OP)
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June 02, 2017, 01:42:07 PM
Last edit: June 02, 2017, 05:32:38 PM by abvhiael |
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Im looking for a bitcoin funded mortgage. Im asset-rich and fiat-poor, but have the opportunity to purchase a grand victorian home for about half of what it would cost to build. i am a long-time user of bitcointalk, and have ongoing development involvement with two separate active currencies over the last two years.
Essentially, I need to borrow between 40 and 45 BTC, with repayment scheduled over 5 years with a minimum 25% return. I have collateral in the form of a PoS altcoin GAYmoney (which features a 20% APR), and will be wiling to put 200-250% of the loan value in escrow, secured by multi-sig. i will present the lender with the option to take bi-weekly or monthly payments either in the minted currency from the escrowed wallet or to have those funds converted to BTC and used as direct payment against the principle.
eg:
GAYmoney average value over last 30 days: (USD $0.50)
current value via coinmarketcap: (USD $$0.620959)
escrowed wallet size: 250,000 units (assumable value @ $0.50: USD $152,500)
daily minting: ~125 units (assumable value @ $0.50: USD $62.50)
therefore, bi-weekly lender would receive either 1750 units of the escrowed altcoin, OR those would be sold on market for BTC, which is paid directly against the debt (average of $875 worth). monthly, this would equal 3750 units of the currency or sold for BTC to be paid directly against the debt ($1875 worth).
based on current prices, the principle would be paid down after approx 42 months (3.5 years) which would produce 18 months of pure interest delivered to the lender. as per standard mortgage practices, this interest would be applied foremost to the repayment plan, 95% interest to 5% principle until the assumable interest (approx 14 BTC) is covered. i would also offer a three month early payment penalty (2.33 BTC) should my other reserves of this altcoin generate enough money to effectively shorten the loan period, which is likely.
if the lender wishes, they can simply take the whole minited balance on a regular schedule, which will conclude the loan after 5 years. we can negotiate this timeframe as well, either a larger escrowed amount over a shorter time if necessary. (will escrow up to 300% the value of the loan over 5 years if lender wishes to take this route)
id be willing to take several smaller lenders coming together to fund this, which will produce proportional payments on the agreed-upon schedule, although all lenders would need to agree on one form of payment (in BTC or altcoin) at the outset of the loan.
at the conclusion of the loan, the escrowed balance of currency will be returned to my sole control. there is risk in this sort of loan, what if bitcoin tanks? what if my altcoin fulfills its plan for the coming months and reaches USD $1 parity or more? there is possibility of great reward, but i will do my best to mitigate any liklihood of loss, and should the altcoin escrowed fall in value below a certain threshold, i will top up the escrowed amount to compensate. this option may be visited once every 6 months.
conversely, i would be willing to sell this altcoin outright, at between 66-75% its current market value, depending on the offer. (ie: 40 BTC for ~300,000 units of currency based on an aggregate USD $0.33 unit cost, we can negotiate this)
for the sake of transparency, i am involved with the current development of GAYmoney, so these funds are simply a portion of my developer's reserve. this currency has been somewhat under-the-radar since it was launched in 2014. the original developer is still very much involved with the project, he simply faced the sorts of prejudice and homophobia on his original announcements that caused him to lock the threads. i will be administering the new [ANN] as we get closer to the relaunch, i simply want to have the services we are working on to be ready for a rebranding of the project beforehand.
together we are working on this rebrnading, which will be live for September 2017. we have secured the rights to the gay.money and gay.foundation domains and will be running two websites, as this project truly has two arms - the cryptocurrency arm to assess unit value and real world integrations and a philanthropic arm which will use direct community involvement for LGBT+ advocacy and social awareness campaigns as well as HIV/AIDS research and funding towards womens shelters. this is what Mr. Lawin hopes to be a legacy, and reflects his experiences growing up behind the iron curtain of eastern europe during a period his sexual identity was considered a criminal offense. there will be a lot of movement in the next few months as Mr. Lawin, the lead developer, want to provide a legacy of charitable work for these communities for years to come. we have already begun reaching out to other LGBT philanthropic organizations to help with this project, but those remain very preliminary, and will be more concrete as the rebranding approaches.
we are working on securing the licensing for a GAYmoney centric exchange with fiat gateways and pairings to major cryptocurrencies. we will also be launching better.exchange which will host cryptocurrencies that have a social conscience. we are also in the process of registering GAYmoney LLC as a corporate entity and will providing a complete dedication to transparency in all aspects of the project. we are also in the process of attracting businesses within the LGBT community to accept GAYmoney as tender, presently focusing on the LGBT-owned or friendly b&b markets. i am becoming very active with the local LGBT communites in my region, because i have to have that sort of connection with the community to understand its needs.
i will be receiving a wage for my work on GAYmoney, on top of my developer's reserve and the hope is to turn the enterprise into a well-regulated industry serving the digital financial needs of a community that serves an approximate 7% of the global population, and is as diverse as any other market, with one common indentifying birthright which is a hugely unifying factor. i will aso be maintaining my work on my other project, which is completely unassociated with GAYmoney: SOILcoin.. which is an ETH clone launched in 2015 with a direction towards renewable energy applications as well as distributed scientific computing for climate prediction, precision farming dApps and overall environmental awareness. so, in a way yuir investing in ME as well with this sort of loan, but ive been working hard in the sphere of cryptocurrency for awhile and have very strong views about the necessary high standards developers and exchanges must operate under, and im in the game for the long haul. this is simply a screaming good deal on the home of my dreams, something to secure my family's future while i work on something which promises to create a whole lot of good in the world.
i apologize for the length of this post, but if you research my writing here on bitcointalk, this is generally the sort of writer that i am. i wanted to avoid brinigin GAYmoney up into the wholesale public conversatin, simply due to the reaction it gets from some people who have bias towards that community, so please, keep the conversation civil responding to this post, ok? i think that this sort of arrangement might be the start of an entire industry.. crypto-secured mortgages with the security of the blockchain. we're all about disrupting everything so lets disrupt the mortgage industry!
please send me a PM for more details or to begin negotiations. thank you for your time.
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