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Author Topic: Loan Required : 0.45 , Collateral worth 0.6 approx  (Read 892 times)
Hatcher
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July 06, 2018, 03:33:26 AM
Last edit: July 06, 2018, 03:43:44 AM by Hatcher
 #21

This loan has technically expired. I would be ok with extending it, knowing that the collateral situation is reliable (and transparent), and if the interest rate is consistent with what was outlined at the start of this thread. At the end of last month Max did ask to extend this loan for another month, yet he only wanted to pay .01 BTC interest for the extended period which is a decrease in interest by 33%. The interest rate is already very low (about .1% a day), so I told him I couldn't accept that, and asked that he keep it at .015 BTC for the month. He hasn't responded to that message from over 4 days ago:

Hey would like to extend the loan again to 31st august with repayment amount of 0.49. I have already messaged darkstar to add additional collateral so you don't have to worry about it

Last two months you did .015 each, and now you want two months for .01?
Hey sorry for the misconception it is till 31st July i always get confused between June and July

Ok, then make the total repayment amount 0.495, and it is consistent with the interest you have given in the previous months (.015 BTC each).

Dealing with max has become quite frustrating and honestly I'd rather just be done with it at this point. DarkStar_, do you want to take over this loan for me? Seeing as you have the collateral, and he seems to be more communicative with you. The total amount he owes me (before July 1st) is 0.48, but I'll settle for 0.475 BTC, and you'll get the full month of July's interest, whatever interest rate you establish with him.

Thanks,
Hatcher
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gueorguiev
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July 06, 2018, 05:02:47 AM
 #22

This was getting intense to read. Where's Max? ,has someone assassinated him in real life. Will there ever  re compensation for loss on the loan?!

Stay tuned..
Hatcher
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July 06, 2018, 05:13:19 AM
 #23

This was getting intense to read. Where's Max? ,has someone assassinated him in real life. Will there ever  re compensation for loss on the loan?!

Stay tuned..

There is no loss. This is a collateralized loan. Not only does this not concern you, but you didn't actually read (or comprehend) the thread before you made this comment.
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July 06, 2018, 09:18:39 AM
 #24

hi, i have a question regarding this case.

if max defaulted and hatcher gets the collateral, is it ok for hatcher to do a negative trust on max?  or a negative trust isn't appropriate since he got the collateral and they just followed the contract that the lender gets the collateral if the borrower defaulted so there's no violation technically.

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July 06, 2018, 10:46:13 AM
 #25

hi, i have a question regarding this case.

if max defaulted and hatcher gets the collateral, is it ok for hatcher to do a negative trust on max?  or a negative trust isn't appropriate since he got the collateral and they just followed the contract that the lender gets the collateral if the borrower defaulted so there's no violation technically.


in this case , he (max) does not fulfill his obligations repaid timely, so negative trust necessary, collateral value always fluctuating, and not always can't cover losses.

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July 07, 2018, 08:10:39 AM
 #26

hi, i have a question regarding this case.

if max defaulted and hatcher gets the collateral, is it ok for hatcher to do a negative trust on max?  or a negative trust isn't appropriate since he got the collateral and they just followed the contract that the lender gets the collateral if the borrower defaulted so there's no violation technically.


in this case , he (max) does not fulfill his obligations repaid timely, so negative trust necessary, collateral value always fluctuating, and not always can't cover losses.

thanks for the reply.  so max can't complain if given negative trust.  having default and collateral be confiscated doesn't mean you're safe.  borrowers should always pay the loan plus interest no matter what.  collateral is there just for insurance and minimize loss on lender's part.

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July 07, 2018, 05:06:08 PM
 #27

I'm still alive i have not been assassinated, I was a bit busy  so couldn't keep up but not to worry I am sending darkstar 1 million bcn which is enough. As i messaged you I'm not able to repay you because of the market ups and down i just want the market to recover a bit. I have and will never default a loan that's my guarantee
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July 08, 2018, 02:04:25 AM
 #28

I'm still alive i have not been assassinated, I was a bit busy  so couldn't keep up but not to worry I am sending darkstar 1 million bcn which is enough. As i messaged you I'm not able to repay you because of the market ups and down i just want the market to recover a bit. I have and will never default a loan that's my guarantee

I don't mind you taking out this loan for months on end, I just don't like feeling antsy about the collateral situation. Let me know when you send DarkStar the BCN as some of that will be used to support this loan.

Thanks,
Hatcher
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July 08, 2018, 03:44:51 PM
 #29

max2607 has added an additional 300k BCN to the collateral for this loan.

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July 28, 2018, 05:40:46 AM
Last edit: July 28, 2018, 08:03:56 AM by Hatcher_alt
 #30

Good morning. The end of the month is coming up and an update is required from my end before I attempt to communicate with max for an extension. My main account, Hatcher, has been locked due to an unauthorized email address/password change, and I am currently in communication with the forum's administrators to get it unlocked. It looks like it could be a lengthy process before that is completed so I have created an alt account to communicate with during the course of this loan.

Max hasn't been online since July 12th, and I am skeptical that he is going to come online in time to set extension terms before the current deadline, but the collateral for this loan is still at a healthy margin, and because of that I am not worried (yet). I have previously expressed that I am comfortable with keeping this loan open as long as he has collateral to cover it - that stance has not changed.

All messages involving monetary transactions will be signed, as I have done previously in this thread, from that same address. I am going to sign this message as well to prove that I am Hatcher, and I would like DarkStar_ to acknowledge this update. Besides that, all I can do is hope max comes online soon to set extension terms for this loan.

Thanks,
Hatcher

Code:
-----BEGIN BITCOIN SIGNED MESSAGE-----
This is Hatcher, on Saturday July 28th, providing proof of ownership of the "Hatcher_alt" account on Bitcointalk.
-----BEGIN SIGNATURE-----
1AWjtpZNywzyQywagxWihqJQ3eQYqDov7P
HztnKdVfoc74M+pdtJuXw6ykcV26SH3tbKBEE0GhOjLaShJ28+FtdA9bHPmY6VchEDII3kzS5h+LGRGNP0t2yfc=
-----END BITCOIN SIGNED MESSAGE-----
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July 29, 2018, 12:44:32 AM
 #31

Good morning. The end of the month is coming up and an update is required from my end before I attempt to communicate with max for an extension. My main account, Hatcher, has been locked due to an unauthorized email address/password change, and I am currently in communication with the forum's administrators to get it unlocked. It looks like it could be a lengthy process before that is completed so I have created an alt account to communicate with during the course of this loan.

Max hasn't been online since July 12th, and I am skeptical that he is going to come online in time to set extension terms before the current deadline, but the collateral for this loan is still at a healthy margin, and because of that I am not worried (yet). I have previously expressed that I am comfortable with keeping this loan open as long as he has collateral to cover it - that stance has not changed.

All messages involving monetary transactions will be signed, as I have done previously in this thread, from that same address. I am going to sign this message as well to prove that I am Hatcher, and I would like DarkStar_ to acknowledge this update. Besides that, all I can do is hope max comes online soon to set extension terms for this loan.

Thanks,
Hatcher

Code:
-----BEGIN BITCOIN SIGNED MESSAGE-----
This is Hatcher, on Saturday July 28th, providing proof of ownership of the "Hatcher_alt" account on Bitcointalk.
-----BEGIN SIGNATURE-----
1AWjtpZNywzyQywagxWihqJQ3eQYqDov7P
HztnKdVfoc74M+pdtJuXw6ykcV26SH3tbKBEE0GhOjLaShJ28+FtdA9bHPmY6VchEDII3kzS5h+LGRGNP0t2yfc=
-----END BITCOIN SIGNED MESSAGE-----

Acknowledged.

max2607
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July 30, 2018, 01:29:23 AM
 #32

Hey looks like end of every month i have to show up and jist extend the loan again and again. The basic reason behind this is because the market value is really low and if i sell all collateral i gave you i basically get a loss.
Here's what we can do if I'm in a state of repaying the loan i will come online and ask for repayment address and send it right away else i would like you to assume that it has been extended for another month with same interest rate.
Now as you told you don't wanna keep extending the loan for a while here's what we can do if the market is still low end of August it get's extended to 30th Sept. And even if market has a slow reaction then i think I'll just buy bitcoin and repay the loan, i can't guarantee this but asking your time till 30th Sept as if i tell you all to liquidate i lose 2 bitcoins right away. Last time i took a loan i made 1 btc profit but now as I'm hoping is to repay the loan without getting a loss. Will come online for the next 2 days if you have any question do post here or pm.
The above implies for darkstar as well I'm sorry for any inconvenience but i can't sell them at a loss and all this is just bad timing
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July 30, 2018, 03:27:07 AM
 #33

Hey looks like end of every month i have to show up and jist extend the loan again and again. The basic reason behind this is because the market value is really low and if i sell all collateral i gave you i basically get a loss.
Here's what we can do if I'm in a state of repaying the loan i will come online and ask for repayment address and send it right away else i would like you to assume that it has been extended for another month with same interest rate.
Now as you told you don't wanna keep extending the loan for a while here's what we can do if the market is still low end of August it get's extended to 30th Sept. And even if market has a slow reaction then i think I'll just buy bitcoin and repay the loan, i can't guarantee this but asking your time till 30th Sept as if i tell you all to liquidate i lose 2 bitcoins right away. Last time i took a loan i made 1 btc profit but now as I'm hoping is to repay the loan without getting a loss. Will come online for the next 2 days if you have any question do post here or pm.
The above implies for darkstar as well I'm sorry for any inconvenience but i can't sell them at a loss and all this is just bad timing

This works for me in regards to my loan. Not really an issue as long as collateral coverage is good. I assume you'd still be checking prices to make sure things are still at good levels of margin, correct?

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August 01, 2018, 03:59:26 AM
Last edit: August 01, 2018, 08:35:23 AM by Hatcher_alt
 #34

Hey looks like end of every month i have to show up and jist extend the loan again and again. The basic reason behind this is because the market value is really low and if i sell all collateral i gave you i basically get a loss.
Here's what we can do if I'm in a state of repaying the loan i will come online and ask for repayment address and send it right away else i would like you to assume that it has been extended for another month with same interest rate.
Now as you told you don't wanna keep extending the loan for a while here's what we can do if the market is still low end of August it get's extended to 30th Sept. And even if market has a slow reaction then i think I'll just buy bitcoin and repay the loan, i can't guarantee this but asking your time till 30th Sept as if i tell you all to liquidate i lose 2 bitcoins right away. Last time i took a loan i made 1 btc profit but now as I'm hoping is to repay the loan without getting a loss. Will come online for the next 2 days if you have any question do post here or pm.
The above implies for darkstar as well I'm sorry for any inconvenience but i can't sell them at a loss and all this is just bad timing

This works for me in regards to my loan. Not really an issue as long as collateral coverage is good. I assume you'd still be checking prices to make sure things are still at good levels of margin, correct?

Works for me as well. Same as what DarkStar_ said; the collateral value needs to be kept at a sufficient level throughout the course of the loan.
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August 13, 2018, 09:20:30 PM
 #35

The collateral value for this loan has fallen below the repayment amount. DarkStar_, are you able to shift more collateral over to support this loan (ideally .1 BTC worth to bring it up to a .6 BTC margin value)? Otherwise, I must ask for the collateral to be transferred to me.

https://imgur.com/a/p8rc9TS
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August 14, 2018, 06:10:05 AM
 #36

The collateral value for this loan has fallen below the repayment amount. DarkStar_, are you able to shift more collateral over to support this loan (ideally .1 BTC worth to bring it up to a .6 BTC margin value)? Otherwise, I must ask for the collateral to be transferred to me.

https://imgur.com/a/p8rc9TS
Hey can you just chill idk whats the hurry. As i said in past regardless of how low the collateral is i will repay all the loans. I was going to send additiomal collateral but the market literally crashed today. If possible can you just wait for a week or so. I'm trying to collect funds and repay all pending loans before this month. I know that's not right but it's just a wrong timing. I promise to pay all loans regardless of collateral.
Could you please trust me on this one for once, I won't disappoint you.
Also darkstar won't be able to transfer as the collateral he has is lower than the loan amount i owe him.
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August 14, 2018, 07:48:25 PM
Last edit: August 15, 2018, 12:34:08 AM by Hatcher_alt
 #37

The collateral value for this loan has fallen below the repayment amount. DarkStar_, are you able to shift more collateral over to support this loan (ideally .1 BTC worth to bring it up to a .6 BTC margin value)? Otherwise, I must ask for the collateral to be transferred to me.

https://imgur.com/a/p8rc9TS
Hey can you just chill idk whats the hurry. As i said in past regardless of how low the collateral is i will repay all the loans. I was going to send additiomal collateral but the market literally crashed today. If possible can you just wait for a week or so. I'm trying to collect funds and repay all pending loans before this month. I know that's not right but it's just a wrong timing. I promise to pay all loans regardless of collateral.
Could you please trust me on this one for once, I won't disappoint you.
Also darkstar won't be able to transfer as the collateral he has is lower than the loan amount i owe him.

You are correct that this usually isn't the way things are done here, but I did talk to DarkStar_ after I posted this and he vouched for you and said he would cover any losses on this loan if that occurred. Most borrowers would be liquidated by this point, but I'm going to respect his judgement.
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October 01, 2018, 06:52:22 AM
Last edit: October 19, 2018, 06:36:11 AM by Hatcher_alt
 #38

It's a new month so I'll need to post an update here, as things have changed and new terms haven't been established in this thread.

I have received a partial repayment at the beginning of last month of 0.22004658 BTC. That leaves the remaining principle at 0.22995342 BTC. When the principle was .45 BTC, the interest on this loan was .015 BTC a month - 3.33%. For September, October, and the months going forward, I will simply round the monthly interest down to 3%. Currently, that is 0.00689860 BTC. You only need to pay interest on the principle, so any other partial repayments will further reduce this amount.

Collateral coverage is great, and as long as it remains that way, this loan can be kept open indefinitely.

I trust that these are agreeable terms. As they are better than the previous months', I hope they are well received and we can simply continue on with them being outlined here.

Cheers,
Hatcher
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January 02, 2019, 07:54:33 PM
 #39

New year and this loan is still active. Not sure what's going on with max but he logs in very infrequently. Anyways, interest is still active on this loan, and the total repayable amount will exceed the collateral value before this year ends at which point I will have a right to ask for the collateral to be transferred to me. Max: You know you could just repay this loan, cut your losses, and the continuous interest bleed. That's what I'd recommend, but you can do whatever you want. Just wanted to bring your attention to this.

Regards,
Hatcher

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January 02, 2019, 08:43:12 PM
Merited by shasan (1)
 #40

Anyways, interest is still active on this loan, and the total repayable amount will exceed the collateral value before this year ends at which point I will have a right to ask for the collateral to be transferred to me.

No.

Similar terms to what the other lending providers stipulate. I would ask that you top up the collateral if the collective value falls below .55 BTC, and if I don't hear from you and the collateral keeps dropping (to below .5 BTC) I would ask DarkStar to sell the collateral (the excess amount above .465 BTC would be returned to you, of course).

Most lenders require collateral for the principle amount, not interest. This is consistent with my lending service, m0gliE, shasan, grtthegreat, Crypto Capital. zarzab, condoras, Parodium and Lone Shark do not have a liquidation term (other than when default). Your request is not similar to what other lending providers offered, and I do not believe this term was stipulated and agreed on prior to the loan taking place. Please let me know if I am incorrect. Additionally, I cannot find a single service that requires collateral for principle + interest.

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