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Author Topic: [2BTC Max] Loan Service  (Read 622 times)
michkima
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April 15, 2018, 04:54:43 PM
 #21

Still awaiting an escrow provider....

PM'ed OgNasty. He is asking 1XMR fee for the service.

Just some terms for this loan, if you agree to that.

1. If the price goes down below 105% of the amount due, then the collateral is forfeited. I leave it up to you to check if the price is going down, and you may top it up so it goes back at least to 120% of the amount due only if it did not go below 105%.
2. Cost for escrow, movement to and from escrow, any other cost to move the collateral shall be borne by you.
3. Send 116XMR (115XMR for collateral + 1XMR for escrow)
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April 16, 2018, 12:43:41 AM
 #22

Hello Bitcointalk!

I would like to offer a bitcoin loan to anyone who has altcoins to offer as collateral. I can fund up to 2 BTC.

Please post your loan offers using this form, PMs will be ignored:

Loan Amount:
Interest to be paid:
Due date:
Collateral Offered:

Obviously you need to offer 120% of the Loan Amount + interest on due date as minimum.

For escrow, I would prefer to hold the alts but if you prefer to use an escrow you have to pay for the fees and also probably higher collateral value.

Note: This thread was made just on top of my head and probably I'll update it later when I get the time to study how the veteran lenders do it.

Great service and good luck with lending! did sent you a PM (unrelated tho).

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michkima
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April 16, 2018, 01:56:33 AM
Last edit: April 16, 2018, 02:06:40 AM by michkima
 #23

I don't know about the stipulation on term #1. Would the same apply to other alt coins? Also isn't Og supposed to contact me to confirm you contacted him?

Term #1 is usual in lending, as crypto is volatile and it is for the protection of the lender. It applies to all alts.

Sorry I fell asleep last night as it was late and didn't get to the reply of OG after I posted his reply, I'll tell him to do a group message over PM.

He'll send us the details of the escrow.

Edit: Please post your BTC address and the TX of the XMR transfer.
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April 18, 2018, 07:29:31 AM
 #24

Bumping the thread.

I have an update on the user ExoticMotors later.
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