[CLOSED] Seeking a 10.6 BTC Loan

[Walking Glitch]

I worked something even better than an Asicminer blade out with someone I know in person. Thanks for the advice (and positive criticism) everyone.


I am looking for a 10.6 Bitcoin loan for the purchase of an Asicminer Blade Erupter here. The interest rate shall be 10 percent.

I know that I am new here, so I am willing to provide proof of my residence and identity, and any other assurance of repayment that I possibly can, to serious lenders. Before I provide any information to my identity or residence however, you will be required to prove that you have enough Bitcoins for the loan, and are serious about the loan.

I am also willing to use a reputable escrow service in a manner that makes sense if the lender so desires.

The methods and terms of repayment, to be negotiated before the loan:

1: Upon receiving, setting up, and testing of the blade to ensure that it is in working order, I shall point it to a worker at a pool agreed upon by both myself and the lender with a way for both of us to monitor the revenue generated by the miner (i.e. by screenshots, screen cam, joint log in, or another method negotiated before the loan) until the loan plus interest (11.66 Bitcoins) is paid off. The lender shall also pay ten percent of the income to myself in order to cover the electricity costs of operating the machine. In the event that ten percent of the income is not paid to myself in a given month, I shall redirect the miner to my own account at a pool of my choosing for five days in order to pay for the electricity usage for the month, before pointing the miner back to the pool originally agreed upon.

2: Alternatively after receiving, setting up, and testing of the Blade I shall point it to a pool of my choice and holding, and pay out to an address (minus ten percent to cover electricity costs of operating the machine) that I have proven that I control, until there is a total of 11.66 Bitcoin held at the stated address, which shall then be paid to the address provided by the lender. I can also pay to the lender what he is due from the address no more than twice per month. This is the preferred method.

After successful repayment of the loan, both parties are encouraged to leave positive feedback.

In the event of a default on the loan, myself and the lender will talk over how to proceed. As collateral, I have a functioning Desktop computer with an approximate value of $1000+ (Less the Hard Drives) of which I will provide proof of ownership to a serious lender along with my proof of residence and identity.

All exchange of personal information shall take place through PM, Skype chat, or a reputable escrow service. Myself and the lender will also share contact information which at the least includes a Skype contact and personal email account to contact each other at in case of issues. A mobile phone number is also preferable.


All exchanged personal information is not to be shared with anyone else for any reason, at any time, except in the event of a potential scam committed by one of the parties, in which case the information shall be shared only to the extent necessary to recover losses, or establish good faith once again.

If you wish to add any terms, we can negotiate them.

[1714903089]

1714903089

[Vod]

As collateral, I have a functioning Desktop computer with an approximate value of $1000+ (Less the Hard Drives) of which I will provide proof of ownership to a serious lender along with my proof of residence and identity.

That is not collateral!   You need to send something to the lender that can easily be sold for the amount of the loan plus interest.  You wouldn't want to pay to ship a computer both ways, and $1000 is not enough collateral anyway, even if the computer could be sold for that.

Your proving you own your computer will not give the lender back his coins if you default.

Try again.

[Walking Glitch]

As collateral, I have a functioning Desktop computer with an approximate value of $1000+ (Less the Hard Drives) of which I will provide proof of ownership to a serious lender along with my proof of residence and identity.

That is not collateral!   You need to send something to the lender that can easily be sold for the amount of the loan plus interest.  You wouldn't want to pay to ship a computer both ways, and $1000 is not enough collateral anyway, even if the computer could be sold for that.

Your proving you own your computer will not give the lender back his coins if you default.

Try again.

Actually it is collateral:

In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.

-Wikipedia

And when getting a mortgage, that is also a valid type of collateral.

[Vod]

It's not collateral we will accept here.

You default, and I have a piece of paper saying you own a computer.   

[ASIC-K]

no, thats not collateral on 10k dingus.

ps that 1000 dollar computer is really worth about 400 bucks.

[Walking Glitch]

It's not collateral we will accept here.

You default, and I have a piece of paper saying you own a computer.   

You make a good point. I would be willing to work out an arrangement where the Lender hosts he machine until it has paid for itself either partially or entirely, if that interests anyone.

[Walking Glitch]

The interest rate shall be 10 percent.

You will never be able to payback with this high interest rate. You are probably a scammer, cause most people wouldn't put in a huge interest rate.

I figured it seemed reasonable considering the risk of a new member such as myself. If it makes you comfortable I can lower it to 5%. The rates and terms are negotiable.

[Vod]

It's not collateral we will accept here.

You default, and I have a piece of paper saying you own a computer.  

You make a good point. I would be willing to work out an arrangement where the Lender hosts he machine until it has paid for itself either partially or entirely, if that interests anyone.

I've done this before for people.  But not 100%.  Put up 40% of the purchase price yourself and maybe you can find someone who will finance the other 60% with those terms.

You want 100% financed, so there is zero risk to you - the lender would be better off buying it for himself and making a lot more than 10%.

[ASIC-K]

good point. you should be able to come up with a few hundred dollars at least.

[Walking Glitch]

It's not collateral we will accept here.

You default, and I have a piece of paper saying you own a computer.   

You make a good point. I would be willing to work out an arrangement where the Lender hosts he machine until it has paid for itself either partially or entirely, if that interests anyone.

I've done this before for people.  But not 100%.  Put up 40% of the purchase price yourself and maybe you can find someone who will finance the other 60% with those terms.

You want 100% financed, so there is zero risk to you.

Good suggestion. If no one else wishes to to work on something similar to the original terms, then I will probably try again with something like that.

[Walking Glitch]

I worked something out with a friend I know in person, and on something even better than an Asicminer blade.

Thanks for all of the advice (and positive criticism) everyone.