$350 Paypal Loan - 12 Month Payback ($450)

[BitshireHashaway]

Hello Everyone,
I am here asking for a $350.00 paypal loan in order to help me build a primecoin mining rig. The mining rig will just have a decent CPU and be used in order to mine primecoins 24/7.

Here are the specs (taken from my prepared amazon account):
MSI Computer Corp. Motherboard ATX DDR3 1333 LGA 1150 Motherboards B85-G41 PC MATE This is the motherboard for the computer. Not a bad motherboard, and while its not the cheapest one in the world it is certainly not expensive at $73.

6FT SVGA VGA Monitor MM Male To Male Extension Cable 80 This cable will be used to connect my monitor from home to the motherboard. It's only $2.75 and way cheaper than buying a monitor for the project.

Cooler Master Elite Power - 460W Power Supply (RS460-PSARI3-US) 460w is more than what I need for the project but the psu is only $36, so if I did get a smaller size, its not like I would save much money - if any.

Cooler Master Hyper 212 Plus - CPU Cooler with 4 Direct Contact Heat Pipes (RR-B10-212P-G1) This will be the cooler for the CPU - by far one of the most important components in my opinion since the CPU will be doing all the work

Kingston Hyper X Blu 4 GB 1600MHz DDR3 Non-ECC CL9 Desktop Memory (KHX1600C9D3B1/4G) Not much ram is necessary, so I only got a 4gb $40 stick.

Intel Core i5-4570 Quad-Core Desktop Processor 3.2 GHZ 6MB Cache- BX80646I54570 This $200 processor is the heart of the machine and does all the work.

Logitech Desktop MK120 Mouse and keyboard Combo Not necessarily fully necessary, but I would like to have my own keyboard and mouse for this



Equipment I already have / am supplying.

250 gb Hard Drive w/ Windows Vista on it. I understand that PrimeCoin mining works better with 64 bit so I also have a copy of Windows 7 64 Bit that I will probably end up installing, should it be necessary.
Monitor: Not a good monitor, but I don't need a nice monitor.

$120: $350 doesn't cover the costs of the entire rig so I will be covering some of the costs myself - this is all I have to put to this project right now.

Collateral
No I don't have collateral - if you require collateral than I can't do a loan with you. Well let me rephrase that - I have items that could be used as collateral (laptop & phone), except those are day to day necessities for me (I use them for school, something much more important to me than a side thing like this rig) and as a result aren't things I will be giving up. If I had any collateral I could use for this project, I would just sell it and use it.

Why not bitcoin? Why paypal?
Well, if you have been following the price of Bitcoin the past few days you will see what I mean when I say this. I don't have a mt. gox account, so trading bitcoin to fiat isn't super easy for me (Amazon doesn't accept bitcoins sadly.) And right now the price of Bitcoin is right around $350, so if I ask for a $350 loan and lets say I get 1 bitcoin. Then the price per bitcoin crashes to $200 before I can sell it. Well now I'm stuck because I have to pay back a $350 loan + interest and I no longer can afford a rig. Could I pay it back? Yes. But it would be a lot harder and frankly I don't want to deal with the risk.


Payback
Your payback for this $350 loan will be $450 over the coarse of the next year. For the first 2 months you will get nothing and then for the next 10 months you will get $45.00/month. It will be sent to your paypal.


Please PM me or reply here if interested.

[BitshireHashaway]

bump.

[monbux]

No I don't have collateral - if you require collateral than I can't do a loan with you

uhh...  Dude, you have nothing to offer as a collateral?

[BitshireHashaway]

No I don't have collateral - if you require collateral than I can't do a loan with you

uhh...  Dude, you have nothing to offer as a collateral?

As I said, I have a laptop and a phone but as I said I need/use those things for my everyday life. Anything I had that I could give as collateral I would have sold and just used the money for the project.

[Tulak]

You expect us(Trademark) to lend a complete stranger 350 Dollar without collateral. I hate to destroy your prime coin dreams but not gonna happen. Unless someone is that generous stupid.

[monbux]

No I don't have collateral - if you require collateral than I can't do a loan with you

uhh...  Dude, you have nothing to offer as a collateral?

As I said, I have a laptop and a phone but as I said I need/use those things for my everyday life. Anything I had that I could give as collateral I would have sold and just used the money for the project.

Therefore, you have no collateral, which would mean no loan.
What happens if you don't pay back?
Could the lender just chargeback?  You see, it's very difficult with paypal.

[BitshireHashaway]

You expect us(Trademark) to lend a complete stranger 350 Dollar without collateral. I hate to destroy your prime coin dreams but not gonna happen. Unless someone is that generous.

That is the definition of a loan no? If you loan me something and I pay you something worth 1.2x the amount as collateral you just cash out and I have my money I'm effectively selling you the item with the option of buying it back over the next few months. When you get a loan for a house you don't need to give them however amount of money in collateral do you?

[BitshireHashaway]

No I don't have collateral - if you require collateral than I can't do a loan with you

uhh...  Dude, you have nothing to offer as a collateral?

As I said, I have a laptop and a phone but as I said I need/use those things for my everyday life. Anything I had that I could give as collateral I would have sold and just used the money for the project.

Therefore, you have no collateral, which would mean no loan.
What happens if you don't pay back?
Could the lender just chargeback?  You see, it's very difficult with paypal.

Paypal has a dispute system does it not? Or will that not last the term of the loan. If I don't pay back, then yes I would have defaulted. - hence the risk of the loan. If there was no risk why would there be interest? However, I do have a decent reputation here and have spent a decent amount of time on the boards so I won't just default.

[BitshireHashaway]

No I don't have collateral - if you require collateral than I can't do a loan with you

uhh...  Dude, you have nothing to offer as a collateral?

As I said, I have a laptop and a phone but as I said I need/use those things for my everyday life. Anything I had that I could give as collateral I would have sold and just used the money for the project.

Therefore, you have no collateral, which would mean no loan.
What happens if you don't pay back?
Could the lender just chargeback?  You see, it's very difficult with paypal.

Paypal has a dispute system does it not? Or will that not last the term of the loan. If I don't pay back, then yes I would have defaulted. - hence the risk of the loan. If there was no risk why would there be interest? However, I do have a decent reputation here and have spent a decent amount of time on the boards so I won't just default.

He has a point. It's not like he's come straight out of newbie jail asking for a loan, and PayPal isn't like BTC, where there's no way to get your money back.

Thanks

[KWH]

No I don't have collateral - if you require collateral than I can't do a loan with you

uhh...  Dude, you have nothing to offer as a collateral?

As I said, I have a laptop and a phone but as I said I need/use those things for my everyday life. Anything I had that I could give as collateral I would have sold and just used the money for the project.

Therefore, you have no collateral, which would mean no loan.
What happens if you don't pay back?
Could the lender just chargeback?  You see, it's very difficult with paypal.

Paypal has a dispute system does it not? Or will that not last the term of the loan. If I don't pay back, then yes I would have defaulted. - hence the risk of the loan. If there was no risk why would there be interest? However, I do have a decent reputation here and have spent a decent amount of time on the boards so I won't just default.

He has a point. It's not like he's come straight out of newbie jail asking for a loan, and PayPal isn't like BTC, where there's no way to get your money back.

Who in their right mind would even consider this route? I wouldn't go through the hassle to file a charge back.

[BitshireHashaway]

No I don't have collateral - if you require collateral than I can't do a loan with you

uhh...  Dude, you have nothing to offer as a collateral?

As I said, I have a laptop and a phone but as I said I need/use those things for my everyday life. Anything I had that I could give as collateral I would have sold and just used the money for the project.

Therefore, you have no collateral, which would mean no loan.
What happens if you don't pay back?
Could the lender just chargeback?  You see, it's very difficult with paypal.

Paypal has a dispute system does it not? Or will that not last the term of the loan. If I don't pay back, then yes I would have defaulted. - hence the risk of the loan. If there was no risk why would there be interest? However, I do have a decent reputation here and have spent a decent amount of time on the boards so I won't just default.

He has a point. It's not like he's come straight out of newbie jail asking for a loan, and PayPal isn't like BTC, where there's no way to get your money back.

Who in their right mind would even consider this route? I wouldn't go through the hassle to file a charge back.

How much hassle is $350 worth to you. I got my payback from a netflix mistake after a ~5 minute filing a charge back. I would love to be paid $350/5 minutes... but of course I won't default so that's not a problem and you won't have to take that route.

[Wardrick]

I'll do this, PM'ed for details and the things I need.