Will loan US Dollars (up to $ 5,000) against BTC collateral

[coldrolled]

Hi.. If you have BTC and need cash, but don't want to sell your BTC, I'll loan you the funds against your BTC.

1.  I am real, if you PM me you can meet me in person in nyc or over skype.  I know you guys view new people with caution as we all should, but ask my anything and I can provide driver's license, passport, etc.

2.  We would need to use escrow - someone to hold the BTC until you payback the loan (I need to learn escrow)

3.  Please don't write to me about LTC or Doge or any other crypto currencies (only BTC will be accepted as collateral)

4.  Term of loan can be 1 month or 3 months (not longer)

5.  PM for other terms.

Thank you.

[James222]

There's no point in accepting BTC as collateral. Who would get a loan of bitcoins for bitcoins? Altcoins always have the potential to gain value.

[coldrolled]

BTC for BTC?  no, its BTC for dollars.   Well.. some people have BTC but they need dollars.  But they don't want to cash out of the BTC because they believe it will grow against the dollars.  So, in the meantime they can take a loan of US dollars.

Its just like taking a loan against your APPLE stock because you don't want to sell the Apple stock.  Get it?

Or they want to buy more mining rigs?  who knows.. but its for people who don't want to "sell" their BTC but are in need of some money right now.

[bitcointrader1266]

what is your interest rate? also what if i pay back sooner? Also what exchange rate are you going by?