1 BTC loan request

[rjbtc]

I'm looking to start a few ebay listings, and I need to get my seller fees paid from my last round of sales (I run a computer recycling business on the side) It's right around $69 and some change.  I kicked off a bank transfer but that's a few days away, and would like to get things listed today. I've got a couple of decommissioned servers to tear down and part out.  I've not done any loans here, I do have a few transactions on localbitcoins (which is how I plan on buying the payback later this week) - I did ask for a loan a week ago to bring the family  out but ended up doing something free anyway, so figured I'd ask again. Not sure of a good interest amount, I guess 1.25 btc this Thursday?  $ should be in Paypal by Wednesday and an extra day to be sure, either way my paycheck comes in Thursday so either way. I'm happy to provide some kind of documentation, I'm ok doing that on a personal level but not so sure about uploading things to a website.  Thanks!

BTC address: 1AYWtqieXoQZnuT4iEk6MDEXBkdVd5BykN

[1714115047]

1714115047

[1714115047]

1714115047

[Vod]

Thank you for using the Bitcointalk lending forum.  My name is Vod and I am happy to be your lending agent.

I notice you did not take into account delays in converting fiat into BTC.  If you are paid in fiat on Thursday, how would you go about repaying BTC on the same day?  Before we go any further, please state what type of collateral you will be using to secure the loan.  This will give the borrowers information on your credit risk.

Thank you.

[rjbtc]

I'd just use localbitcoins to convert as I have in the past. It's never taken longer than an hour to covert BTC to fiat. I have a Paypal debit card, so once cash arrives there I can access it instantly.  For paypack it would be the same in reverse. Other than speculation or possibly converting one crypto to another I have no idea why anyone would bother with an exchange.  Not too sure what I could use for collateral, assuming I shipped something unless I sent it express I'd have the loan paid back before it arrived.  A shoe on the head pic is no good anymore? j/k

edit: would a pic of the decommissioned equipment I'm selling help any?

[Vod]

Hello and thank you for your response.  Pictures of your equipment will show that you have equipment, but a lender is more concerned about being paid back.  With all the scams going on recently, lenders have shown they are unwilling to lend any coin without collateral equal to or exceeding the value of the coins lent.

If you are serious about obtaining a 1btc loan, I would ask you to provide collateral.  Thank you.

[KWH]

Hello and thank you for your response.  Pictures of your equipment will show that you have equipment, but a lender is more concerned about being paid back.  With all the scams going on recently, lenders have shown they are unwilling to lend any coin without collateral equal to or exceeding the value of the coins lent.

If you are serious about obtaining a 1btc loan, I would ask you to provide collateral.  Thank you.

To add: Providing acceptable collateral will virtually assure you a loan.

[rjbtc]

Well I'm asking for 1 BTC, which at this time is just about $75.  If I wait until something I could ship arrives, I really won't need the loan anymore, so I guess that's out.  I understand the positions here, I'm just trying to figure out something that works for everyone. 

[nimda]

Well I'm asking for 1 BTC, which at this time is just about $75.  If I wait until something I could ship arrives, I really won't need the loan anymore, so I guess that's out.  I understand the positions here, I'm just trying to figure out something that works for everyone. 

Unfortunately, an account like yours, with <60 posts, costs much less than 1 BTC. This gives you an incentive to scam and buy a new account; therefore you won't be receiving a loan, whether you are actually legit or not, since we have no way to know.

[rjbtc]

I wasn't aware that accounts had a money value associated with post count, which depending on post quality could be a pretty subjective thing.  Anyway, I get it, and understand why one would not loan out funds to me, or anyone on the internet.  Here's the problem though - I'm in need of a very short term loan, so mailing some sort of collateral and doing a transaction like a pawn shop doesn't really work as by the time the lender gets the collateral the need for the loan no longer exists. 

I'm aware of the lending sites that exist, but I'm not really keen on uploading personal documents to a website, especially with the potential for hacking or misuse. I'd potentially be ok with sending someone personal documents, but the same concerns are there.

There's got to be a way - and I have no idea what it could be - to do these kind of short term loans with BTC but having some kind of credit rating in place.  Without a scammer running the credit rating agency of course.  Post counts only really show that you, well, post a lot.

[nimda]

I wasn't aware that accounts had a money value associated with post count, which depending on post quality could be a pretty subjective thing.

It's not a direct relationship. It's just a very rough estimate of the effort invested in your identity. Someone with 4 posts is more likely to throw away their account for 1 BTC than someone with 1000 posts.

I'm aware of the lending sites that exist, but I'm not really keen on uploading personal documents to a website, especially with the potential for hacking or misuse. I'd potentially be ok with sending someone personal documents, but the same concerns are there.

Good luck.

There's got to be a way - and I have no idea what it could be - to do these kind of short term loans with BTC but having some kind of credit rating in place.  Without a scammer running the credit rating agency of course.  Post counts only really show that you, well, post a lot.

Problem is, since identities are disposable, transactions are irreversible, and prosecution is out of the question, your credit rating starts at 0, not 800.

[Vod]

There's got to be a way - and I have no idea what it could be - to do these kind of short term loans with BTC but having some kind of credit rating in place.  Without a scammer running the credit rating agency of course.  Post counts only really show that you, well, post a lot.

There is.  Collateral.

In your case everything just went wrong.  You are new, you have no collateral, and you don't have time.  You won't be able to get a loan.   

[Moogle]

What is your eBay account? I'm willing to give this consideration

[rjbtc]

What is your eBay account? I'm willing to give this consideration

rsnyder.2012,  100% positive feedback, only 18 sales to date however.  A little background, I work for an IT company and we routinely end up with old computers/servers/laptops that our customers do not want to pay to fix.  $120/hr to remove a virus on a laptop that's due to be replaced doesn't really make financial sense, when you can get a new one for $300. Anyway, we had a guy who would come and collect all the old & unwanted things to be recycled but I figured I could do the same, sell the working parts on ebay or craigslist and sell the remaining metals for scrap. It's not too bad, I've made a few dollars but the last time we had anything good come in was several months ago, I've also recently moved into a bigger house so that hasn't been my priority lately. We just had a company consolidate 3 Poweredge servers into one VMWare environment and I was going to go ahead and start a few auctions for the SCSI hard drives and server RAM, but I have a balance on my account from the last round of auctions I forgot to pay.  I usually try and do business over craigslist, something about meeting in person and finalizing the sale right away is nice. Like I said in the OP,  if I can get 1 BTC and sell it using localbitcoins to paypal I can take care of the fees and get to selling. Otherwise I have to wait until my paycheck comes in and pay it that way.  I'm trying to establish some kind of reputation here because this sort of thing happens to me every now and again and it would be nice to have a way to get a quick loan without a lot of hassle. 

That all being said, I do understand why I wouldn't be able to get a loan (especially at the amount I am requesting) but, you have to start somewhere and it doesn't hurt to ask.

[Teka]

What is your eBay account? I'm willing to give this consideration

rsnyder.2012,  100% positive feedback, only 18 sales to date however.  A little background, I work for an IT company and we routinely end up with old computers/servers/laptops that our customers do not want to pay to fix.  $120/hr to remove a virus on a laptop that's due to be replaced doesn't really make financial sense, when you can get a new one for $300. Anyway, we had a guy who would come and collect all the old & unwanted things to be recycled but I figured I could do the same, sell the working parts on ebay or craigslist and sell the remaining metals for scrap. It's not too bad, I've made a few dollars but the last time we had anything good come in was several months ago, I've also recently moved into a bigger house so that hasn't been my priority lately. We just had a company consolidate 3 Poweredge servers into one VMWare environment and I was going to go ahead and start a few auctions for the SCSI hard drives and server RAM, but I have a balance on my account from the last round of auctions I forgot to pay.  I usually try and do business over craigslist, something about meeting in person and finalizing the sale right away is nice. Like I said in the OP,  if I can get 1 BTC and sell it using localbitcoins to paypal I can take care of the fees and get to selling. Otherwise I have to wait until my paycheck comes in and pay it that way.  I'm trying to establish some kind of reputation here because this sort of thing happens to me every now and again and it would be nice to have a way to get a quick loan without a lot of hassle. 

That all being said, I do understand why I wouldn't be able to get a loan (especially at the amount I am requesting) but, you have to start somewhere and it doesn't hurt to ask.

I wouldn't recommend using paypal to sell bitcoins simply because someone can charge back the transaction and run away with your bitcoin.

[rjbtc]

I've worked out a solution for that, it's not really a "good" solution but it helps - I have a paypal debit card, which allows me to withdraw funds at an ATM from my paypal account.  I'm usually not very far from an ATM, so as soon as the funds hit, I go and withdraw the cash, I then release the escrow.  I know that they could still do a chargeback, but at least I'm not out the cash while it gets resolved.  It's a lot easier to deal with a negative paypal balance than a $300-400 hit all at once.