btc loan WITH COLLATERAL

[willywonkaaa]

hey guys need  btc.

i can offer my eth as collateral.

i will pay you back in nominal dollars because of the insane swings of btc, so if btc goes up to 5k i dont want to be stuck paying 1 btc when i only borrowed 0.75 that would be a 1200 interest at the 3800 price today. so we peg fiat currency to the rate of btc you are lending me today and use that as a reference.

i will need 30 days to repay back, let me know what interest rates seem fair

[PuraPuraBego]

hey guys need about 4-5k worth of btc.

i can offer my 23 eth as collateral.

i will pay you back in nominal dollars because of the insane swings of btc, so if btc goes up to 5k i dont want to be stuck paying 1 btc when i only borrowed 0.75 that would be a 1200 interest at the 3800 price today. so we peg fiat currency to the rate of btc you are lending me today and use that as a reference.

i will need 30 days to repay back, let me know what interest rates seem fair

I can fill your ask up to $4K, with terms fixed interst (15%). Let me know if you interest

[DGulari]

I can fill your ask up to $4K, with terms fixed interst (15%). Let me know if you interest

Are you a thief? 15% as interest is really crazy.

hey guys need about 4-5k worth of btc.

i can offer my 23 eth as collateral.

23 ETH or equal with $5750 (ETH current price).
Fyi, most people only willing to lend their money if collateral worth at least 120% from the loan amount. It's mean you can only get loan max $4791

P.S i'm not interested to give you loan

[PuraPuraBego]

I can fill your ask up to $4K, with terms fixed interst (15%). Let me know if you interest

Are you a thief? 15% as interest is really crazy.

Really? 15% for a month I think fair enough. If him didn't interested with my offer, him can ignore these. I can do to keep my money at bitcoins. It's seems promises for over 15%

[willywonkaaa]

to be honest now i know why most of the people here requesting loans here end up as scammers. 15 percent comes out to 180 apy. there are laws in the us prohibiting pay day loans from charging crazy interest rates, but i guess in the marketplace on this forum its the wild wild west.

everyone has a free choice here, but the entire reason banks lend money is predicated on risk and because of this risk they earn high interest. take a credit card for example that can have a 30 percent apy, it is unsecured debt.

this forum seeks 120 ltv, is secured collateral, and on top of this charges high interest.

its literally loan sharking except even loan sharks dont have collateral they just come beat you when you cant pay lol.

fortunately for me i'm not desperate i was just looking to hedge some bets with the market.



this is strictly my opinion, but if you want this marketplace to be less swarmed with scammers and thieves then it should charge normal/fair interest rates. No one who has the intention of paying back money would ever agree to being fleeced this bad.

i myself might start a lending practice and offer fair rates. the free market really is the wild wild west at times.

shit we didnt even have child labor laws until the 1930s meaning when left unchecked, businesses will do anything

[Zaizoun]

to be honest now i know why most of the people here requesting loans here end up as scammers. 15 percent comes out to 180 apy. there are laws in the us prohibiting pay day loans from charging crazy interest rates, but i guess in the marketplace on this forum its the wild wild west.

everyone has a free choice here, but the entire reason banks lend money is predicated on risk and because of this risk they earn high interest. take a credit card for example that can have a 30 percent apy, it is unsecured debt.

this forum seeks 120 ltv, is secured collateral, and on top of this charges high interest.

its literally loan sharking except even loan sharks dont have collateral they just come beat you when you cant pay lol.

fortunately for me i'm not desperate i was just looking to hedge some bets with the market.



this is strictly my opinion, but if you want this marketplace to be less swarmed with scammers and thieves then it should charge normal/fair interest rates. No one who has the intention of paying back money would ever agree to being fleeced this bad.

i myself might start a lending practice and offer fair rates. the free market really is the wild wild west at times.

shit we didnt even have child labor laws until the 1930s meaning when left unchecked, businesses will do anything

I can fill your loan (4k$) , for the % , I would take 5% per month
Tell me if you're interested

[magneto]

hey guys need about 4-5k worth of btc.

i can offer my 23 eth as collateral.

i will pay you back in nominal dollars because of the insane swings of btc, so if btc goes up to 5k i dont want to be stuck paying 1 btc when i only borrowed 0.75 that would be a 1200 interest at the 3800 price today. so we peg fiat currency to the rate of btc you are lending me today and use that as a reference.

i will need 30 days to repay back, let me know what interest rates seem fair

I'd be able to fill this but i'd need to convert my fiat into bitcoin which wouldn't be worth a hassle and fees for just a few hundred dollars profit. The spreads incurred are probably going to result in more than that.

If you want to do like a bigger loan timeframe then i'd be willing to negotiate with you.

And yeah, interest rates are high here because of the fact that altcoins are volatile and even if you hold altcoins as collateral you may end up losing money.

[willywonkaaa]

to be honest now i know why most of the people here requesting loans here end up as scammers. 15 percent comes out to 180 apy. there are laws in the us prohibiting pay day loans from charging crazy interest rates, but i guess in the marketplace on this forum its the wild wild west.

everyone has a free choice here, but the entire reason banks lend money is predicated on risk and because of this risk they earn high interest. take a credit card for example that can have a 30 percent apy, it is unsecured debt.

this forum seeks 120 ltv, is secured collateral, and on top of this charges high interest.

its literally loan sharking except even loan sharks dont have collateral they just come beat you when you cant pay lol.

fortunately for me i'm not desperate i was just looking to hedge some bets with the market.



this is strictly my opinion, but if you want this marketplace to be less swarmed with scammers and thieves then it should charge normal/fair interest rates. No one who has the intention of paying back money would ever agree to being fleeced this bad.

i myself might start a lending practice and offer fair rates. the free market really is the wild wild west at times.

shit we didnt even have child labor laws until the 1930s meaning when left unchecked, businesses will do anything

I can fill your loan (4k$) , for the % , I would take 5% per month
Tell me if you're interested

Yes I would do this deal. Who would hold the collateral? I dont want to pay escrow fees, bitrated has escrow with no fees.

[willywonkaaa]

you can pick any agent you feel comfortable with

https://www.bitrated.com/explore

but i would prefer the number 1 guy as opposed to charlie lee (founder of litecoin) because charlie charges a fee whereas others do not lol

[ThatRandom8543]

Yes I would do this deal. Who would hold the collateral? I dont want to pay escrow fees, bitrated has escrow with no fees.

you can pick any agent you feel comfortable with

https://www.bitrated.com/explore

but i would prefer the number 1 guy as opposed to charlie lee (founder of litecoin) because charlie charges a fee whereas others do not lol

People here would prefer using an escrow from this forum. Whats wrong with paying escrow fees?

[willywonkaaa]

why pay a fee when its free?

[DGulari]

why pay a fee when its free?

Because it's safer.

[willywonkaaa]

why pay a fee when its free?

Because it's safer.

not true i would actually say that a website build primarily on the basis of escrow is way more safer than forums.

people on bitrate that are agents have to be verified and vouched for using their real world credentials. there are many instances of mistrust and scams from people on this forums. Bitrated uses a multisig smart contract.

It is silly to say a company build on a trust platform that aims to provide fraud prevention and consumer protection mechanisms for bitcoin is LESS safe than anonymous members on a Forum.


Kinda like saying oh hey dont trust best buy but you can totally trust the tv this random guy is selling out of the trunk of his car in the parking lot. 

[willywonkaaa]

why pay a fee when its free?

Because it's safer.

Yes I would do this deal. Who would hold the collateral? I dont want to pay escrow fees, bitrated has escrow with no fees.

you can pick any agent you feel comfortable with

https://www.bitrated.com/explore

but i would prefer the number 1 guy as opposed to charlie lee (founder of litecoin) because charlie charges a fee whereas others do not lol

People here would prefer using an escrow from this forum. Whats wrong with paying escrow fees?

Also you can pick people that charge a fee if you want. It is the consumers prerogative to find agents that do not charge fees.

This is akin to saying oh just pay any interest on your credit card dont shop around for the best rates?

Some really silly logic on here smh.

[ThatRandom8543]

Also you can pick people that charge a fee if you want. It is the consumers prerogative to find agents that do not charge fees.

This is akin to saying oh just pay any interest on your credit card dont shop around for the best rates?

Some really silly logic on here smh.

Problem I see mainly is youre comparing people on this forum to a lending service from a bank. Thats not how it works here. Sure you can try to give an offer, but dont try to mix the two together. Even in your OP, you want to pay the loan back in fiat currency. Are you paying it back in btc with the payment being locked to fiat or are you trying to pay it back in fiat purely?

--SNIP--

this is strictly my opinion, but if you want this marketplace to be less swarmed with scammers and thieves then it should charge normal/fair interest rates. No one who has the intention of paying back money would ever agree to being fleeced this bad.

i myself might start a lending practice and offer fair rates. the free market really is the wild wild west at times.

shit we didnt even have child labor laws until the 1930s meaning when left unchecked, businesses will do anything

Just to quickly comment on this, it doesnt matter if you have "normal/fair interest rates" because youre dealing with a currency that is irreversible and pretty much impossible to track. People have ran away with as much as a dollar. So youre more than welcome to start lending here, but be warn, if youre not careful, you will end up like others who started lending on here who thought lenders were "unfair" and wanted to try to be fair to others and got scammed out of their coins due to them not taking collateral. To be fair, people who lend wants to also get paid base on the risk, with or without collateral. So yes, you will see interest being more than you would see on some p2p sites or even at a bank.

[willywonkaaa]

Also you can pick people that charge a fee if you want. It is the consumers prerogative to find agents that do not charge fees.

This is akin to saying oh just pay any interest on your credit card dont shop around for the best rates?

Some really silly logic on here smh.

Problem I see mainly is youre comparing people on this forum to a lending service from a bank. Thats not how it works here. Sure you can try to give an offer, but dont try to mix the two together. Even in your OP, you want to pay the loan back in fiat currency. Are you paying it back in btc with the payment being locked to fiat or are you trying to pay it back in fiat purely?

No I'm trying to peg fiat currency to the current rate of btc when we negotiate the deal.

i will be paying back in BTC.

[willywonkaaa]

And to address your second point.

The entire concept of interest is predicated on risk. Banks charge interest rate on money that is unsecured and thus require a higher percentage back.

On this forum you HAVE collateral that is 120 LTV. Which means you literally have no risk, unless someone starts a nuclear war and cryptos go to shit or some major catastrophic event happens.

So to justify the fact that collateralized loans go for such high interests doesnt not bode well in this argument. If anything collateral debts should require less interest because they are guaranteed, and even if someone defaults the lender would get 20 percent more.

It is essentially a win win for the lender. You default they collect. You pay back they still collect.

[Quickseller]

I should be able to do this for you within 48 hours or so.

You previously indicated you would accept 5% interest, which is something I would agree to.

I would however ask that I hold your collateral. I have successfully held more money than this multiple times in the past. I would generally agree that a bitrated escrow would probably be more secure than a forum escrow, however I have not used any of these escrow services in the past, and would prefer to start with smaller transactions with someone I have not dealt with before.


I would point out that the price of etherum has declined more than 20% in the past, so this is not risk free for the lender.


I would agree to allow you to use a portion of the collateral to repay the loan plus interest if that is what you want to do (this may have negative tax implications for you, depending on your specific situation and jurisdiction).

[willywonkaaa]

I should be able to do this for you within 48 hours or so.

You previously indicated you would accept 5% interest, which is something I would agree to.

I would however ask that I hold your collateral. I have successfully held more money than this multiple times in the past. I would generally agree that a bitrated escrow would probably be more secure than a forum escrow, however I have not used any of these escrow services in the past, and would prefer to start with smaller transactions with someone I have not dealt with before.


I would point out that the price of etherum has declined more than 20% in the past, so this is not risk free for the lender.


I would agree to allow you to use a portion of the collateral to repay the loan plus interest if that is what you want to do (this may have negative tax implications for you, depending on your specific situation and jurisdiction).

Eth is up just 20 percent today 

BTC has dropped more than eth has lol

[willywonkaaa]

If anyone wants to do this deal which will be guaranteed to yield them 5 percent let me know.

We will confirm a well written summary detailing everything and anything encompassing the transaction. This summary will be made available on the bitrated site, the escrow will hold the eth funds.

In case of default you win the eth.

I will pay you back in btc as I value my eth more than I do btc, so in either way you will see a profit.



No I will not send you my eth directly to hold for escrow, there needs to be a 3rd party for holding as the chances of scamming me are too great if I just send you the eth directly. So please stop asking and telling me you are "trusted enough" to receive eth directly.