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Author Topic: [LOAN] Asking for a .04 BTC Loan with a 10 day payback and collateral  (Read 86 times)
icroatt
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September 11, 2018, 10:47:46 PM
 #1

Hello,

Thank you for taking the time to read this. I am looking to borrow .04 BTC with a payback period of 10 days or less. Upon payback, I will offer .06 BTC to cover short term interest. I can offer 1500 substratum in collateral, I know the current value doesn't quite equal the borrowed amount, but it used to be worth 4 times that much.

The reason I am looking to borrow is to pay some fees for a service for my business. I would just pay it myself, but I am currently above my purchase limit on Coinbase and the contractor wants to get paid asap.

If anyone could do this, that would be fantastic!

Thanks
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Zwei
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September 11, 2018, 11:26:14 PM
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Collateral should be worth 120% of the amount you are asking.

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September 12, 2018, 12:15:56 AM
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Without a valuable Collateral and not some token with a possible future "high value", you can't get a loan here. You should know this by now.
I suggest to lock this Thread of yours and try elsewhere.
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September 12, 2018, 01:16:22 AM
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Hello,

Thank you for taking the time to read this. I am looking to borrow .04 BTC with a payback period of 10 days or less. Upon payback, I will offer .06 BTC to cover short term interest. I can offer 1500 substratum in collateral, I know the current value doesn't quite equal the borrowed amount, but it used to be worth 4 times that much.

The reason I am looking to borrow is to pay some fees for a service for my business. I would just pay it myself, but I am currently above my purchase limit on Coinbase and the contractor wants to get paid asap.

If anyone could do this, that would be fantastic!

Thanks

If your collateral isnt 120% of what youre asking then its not valid collateral. Just because it "used to be worth 4 times that much" doesnt mean it worth what youre asking now. Thats like trying to get a title loan for a car full retail value while the car is totaled and pretty much worthless.

If youre having issues with limits with coinbase then use a different exchange or buy bitcoins (or whatever youre using) and pay whoever you claim youre paying.
icroatt
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September 12, 2018, 01:45:55 AM
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Thanks guys, I realize what I was asking wasn't best practice. Locking this thread as I got everything taken care of.
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