USD loan in BTC $500-$3000 12% annual rate

[GamingG]

You could put the loan on Propser and then link us to it here.  Those of us that invest on Propser could buy it up.

[1715062449]

1715062449

[1715062449]

1715062449

[Littleshop]

You could put the loan on Propser and then link us to it here.  Those of us that invest on Propser could buy it up.

I tried that last week. They quoted 18% which is higher then I am paying now.  I guess my 15.x rate from B of A is not so bad.  I could pay more interest on a BTC loan, but not much more.  If I had to buy the coins to pay the loan, I would be paying fees to the exchange which unfortunately makes this less of a deal.

[SgtSpike]

You could put the loan on Propser and then link us to it here.  Those of us that invest on Propser could buy it up.

I tried that last week. They quoted 18% which is higher then I am paying now.  I guess my 15.x rate from B of A is not so bad.  I could pay more interest on a BTC loan, but not much more.  If I had to buy the coins to pay the loan, I would be paying fees to the exchange which unfortunately makes this less of a deal.

Yikes!

I had a 29.99% interest CC that I paid off after selling the car I bought to resell with my prosper loan.  A lot better to pay 11% interest than 29%.  But the 29% company was seriously a scam...

[thisisgil]

I am happy to throw some BTC into this venture with others.

Being in debt sucks!

[notme]

I have 0% on balance transfers for 12 months, with a 3% upfront fee.  Due to a minimum fee, the loan needs to be at least $350 to make this economical.  I am willing to put up $150 towards that if we can find a few others to come up with the other $200.  The other lenders would send me bitcoins and I would do a balance transfer from your card to mine.  The 3% fee will be added to the principal and the monthly interest will be 0.5%.  Assuming exactly $350 is raised, the payments come out as follows (we can round to the nearest penny):

31.844166666666666
31.693958333333327
31.54374999999999
31.393541666666653
31.24333333333331
31.09312499999998
30.94291666666664
30.7927083333333
30.642499999999963
30.492291666666617
30.34208333333328
30.191874999999936
total: 372.21624999999966 [1]

So, Littleshop pay 3% up front + 6% annually; bitcoin investors make 6% and the banks only get 3%.

If you would like to help me help Littleshop, please pm me how much you are willing to commit, or reply below.  Each payment will be divided proportionally by contributed capital (my contribution will include the 3% fee, so your share will be "your contribution"/("total loan" + "balance transfer fee"), and my share will be (150 + "balance transfer fee")/("total loan" + "balance transfer fee")).

Of course, this is all assuming Littleshop agrees to these terms.

begin_edit
Of course, payments will be converted to bitcoins.
end_edit

[1] Payments calculated as follows:

def payments(n)
  amount = 350
  # balance transfer fee                                                        
  p = amount * 1.03
  r = 0.005
  months = 12

  total_payment = 0
  Range.new(1,n).each do |i|
    # payment is remaining principal / months remaining                          
    # plus monthly interest                                                      
    payment = p/(months-i+1)+p*r
    puts payment
    # new principal is old principal plus interest minus payment                
    p = p*(1+r) - payment
    total_payment += payment
  end

  puts "total: #{total_payment}"
end

payments(12)

[Littleshop]

No one else has come forward and $150 is not worth it for either of us, but offer is still open. 

[sadpandatech]

No one else has come forward and $150 is not worth it for either of us, but offer is still open.  

  I am not sure how big their reserve is for 0% interest loans but you could try the IBB. your likeliness to payback is much better than some fo their previous debtees.  You could pay back the 1/10th per month and add in the .5% or whatever as gratuity. Worth checking into anyhows.


   Cheers

[chungenhung]

Boy I hate giving this money to Bank of America. 

Half a point ain't much to offer someone for tying their money up for almost a year. It's barely above a national bank free savings account. That coupled with the risk and well...

6% a year is many times the national savings bank rate. 

I am not sure what you are saying.  You are quoting half a point then saying a year.  It is half a point a month. 

OP stated 0.5% per month. That's over 6% per yr, if u compound your return.

[Littleshop]

I have updated terms.  I am selling enough (not all) of my BTC at the exchanges and paying fees there.  If I sent BTC to repay the loan I would be avoiding fees, so hence I can pay a higher rate.