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Author Topic: May seek 10BTC investment secured with LTC.  (Read 772 times)
bakada
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September 02, 2013, 09:27:31 AM
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camolist
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September 02, 2013, 09:43:47 AM
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just completed something semi similar

https://bitcointalk.org/index.php?topic=283817.0

involving stocks not ltc.


for something like ltc i would feel safe holding 125% worth of ltc compared to the btc value which would give you the option in case of ltc value drop to either increase the amount of ltc or decrease the amount of btc loaned (by either sending some btc back or having some of the ltc get sold...your choice)

would do it for say .1btc / week

we'd have to iron out any details a bit later
just a quick reply i'm headed out to work (till 3 / eastern US) i'll check in throughout the day when possible

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September 02, 2013, 11:20:31 PM
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Round the tree we go.   Using my current bank roll to Arbitrage.  I have another wire hitting btc-e in a few days and am thinking I would like to hold some LTC again, but would like to continue with the my current level of Arbitrage.

If its backed with LTC, what rates would people be looking for.  Say we did it on a weekly rotating basis on the amount of 10 BTC.  As well, how many LTC would you like to consider 10 BTC secure, this would be given with permission for you to convert the LTC if it moves against the loan and you don't feel safe with the security value.   

Just an idea.

Thanks,
bakada

talk to stunna he might be able to do similar as what he done for me > https://bitcointalk.org/index.php?topic=282507.0

ADT donation address >ALMA4h9mQLPTQu96AFwgNu6jjviHBowonk
BTC donation address >17KZ9E1PmTUMmosfb1xcapGRoQSKew8M3P
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September 03, 2013, 12:28:10 PM
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i'm headed out to work (today 9-5 eastern US) - i'll be off either Wednesday or Thursday (waiting to see weather planning a fishing trip and will take off whichever looks better)

what's the best time/method (skype, thread, pm, email, etc...) to get in touch to work out any details?

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September 03, 2013, 10:03:02 PM
 #5

addresses of mine to be used if this transaction goes through

BTC 1PPwCHE6dmRbVQWqywaqCKh5cxuHPgcUMy
LTC LZerMBmn1aMw1WK9M98HHMin7DCyyHbSda

I'll transfer 10BTC over to that address a bit later that will be set aside to be ready for this transaction

interest for this deal will be set at 0.1 BTC per week - payable to above BTC address


for example i am going to assume btc is worth $100 and ltc $1 - this is far from correct but just an easier way to explain the details


i would loan 10BTC on the condition I hold 125% that amount worth of LTC - using examples from above that would mean 1250 LTC


should the value of the held LTC fall to below 100% of the loaned 10BTC  you would have the option to transfer over additional LTC to be held or decrease the amount of btc on loan (by either transfering some amount of btc back or by allowing me to sell some of the held LTC and apply the proceeds to the loan amount until the held ltc covers at least 100% of the still owed btc amount

loan would be by the week - no need to send btc back in full after a week if you would like to renew and continue for another week... just check up that the ltc amount held is still covering 125% - if ltc value has risen vs btc value and you would like some of the collateral back contact me anytime

let me know if you think i missed anything or need to word anything different but i think that covers the basics fairly well



I'm on UTC-5 (eastern US) - Wednesday and Thursday i will be at work (9AM-5PM) with limited internet access i am open to planning on being up earlier if needed to do it one of those mornings or anytime after those shifts i am free - Friday i'm free till 3PM my local time then will be on some odd work hours all weekend but will have steady internet access

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