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Author Topic: Looking to borrow 1-20 BTC. Stable coin as collateral  (Read 557 times)
leen93
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April 16, 2019, 02:19:00 AM
Last edit: April 16, 2019, 02:32:02 AM by leen93
 #1

I am looking to borrow 1-20 BTC. Collateral will be kept above 110% at all times.

Comfortable with escrow

amount : 1 - 20 BTC
duration : can be discussed, but at least 6 months
interest : 2% a year
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April 16, 2019, 02:21:21 AM
 #2

I am looking to borrow 1-20 BTC. Collateral will be kept above 110% at all times.

amount : 1 - 20 BTC
duration : can be discussed, but at least 6 months
interest : 2% a year


And who will keep the collateral? You?? I suggest adding a statement that you are comfortable with escrow if you are serious about this otherwise it will also end up like a dead thread.

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leen93
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April 16, 2019, 02:34:44 AM
 #3

I am looking to borrow 1-20 BTC. Collateral will be kept above 110% at all times.

amount : 1 - 20 BTC
duration : can be discussed, but at least 6 months
interest : 2% a year


And who will keep the collateral? You?? I suggest adding a statement that you are comfortable with escrow if you are serious about this otherwise it will also end up like a dead thread.
thought that was pretty obvious, but mentioned it just in case. Thanks
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April 16, 2019, 05:09:54 AM
 #4


interest : 2% a year

You can try to borrow on whatever terms are acceptable to you, but I think the interest you are offering is too low. If someone was willing to lend at 2%/year, they might go to Bankrate CD rates, and see FDIC insured banks offering 2.80% APY for a one year CD, and the lender would have virtually zero counter-party risk. It is up to individual traders to price their own risk, but I would price in something more than a 2% discount for having to account for the risk of whoever I am dealing with running away with my money. 

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April 16, 2019, 06:58:38 AM
 #5

I am looking to borrow 1-20 BTC. Collateral will be kept above 110% at all times.

amount : 1 - 20 BTC
duration : can be discussed, but at least 6 months
interest : 2% a year


And who will keep the collateral? You?? I suggest adding a statement that you are comfortable with escrow if you are serious about this otherwise it will also end up like a dead thread.
thought that was pretty obvious, but mentioned it just in case. Thanks

Can you also add/mention what is your stable coin collateral? I don't see any... Roll Eyes
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April 16, 2019, 08:59:38 AM
 #6

What is the "stable coin" you are offering up for collateral?

leen93
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April 16, 2019, 12:18:11 PM
Last edit: April 16, 2019, 01:57:05 PM by mprep
 #7


interest : 2% a year

You can try to borrow on whatever terms are acceptable to you, but I think the interest you are offering is too low. If someone was willing to lend at 2%/year, they might go to Bankrate CD rates, and see FDIC insured banks offering 2.80% APY for a one year CD, and the lender would have virtually zero counter-party risk. It is up to individual traders to price their own risk, but I would price in something more than a 2% discount for having to account for the risk of whoever I am dealing with running away with my money. 
I give 2% on bitcoin risk free since I fully collaterize at all times. If we ever get close escrow buys bitcoins with my money and sends them to you. Banks give interest in usd. It's a difference. I am open to any offers but no crazy interest rates



I am looking to borrow 1-20 BTC. Collateral will be kept above 110% at all times.

amount : 1 - 20 BTC
duration : can be discussed, but at least 6 months
interest : 2% a year


And who will keep the collateral? You?? I suggest adding a statement that you are comfortable with escrow if you are serious about this otherwise it will also end up like a dead thread.
thought that was pretty obvious, but mentioned it just in case. Thanks

Can you also add/mention what is your stable coin collateral? I don't see any... Roll Eyes
right now have usd on the bank. Thinking of usdc but open to other alternatives in case the lender requests that.
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April 16, 2019, 12:31:34 PM
 #8

I am looking to borrow 1-20 BTC. Collateral will be kept above 110% at all times.

amount : 1 - 20 BTC
duration : can be discussed, but at least 6 months
interest : 2% a year


And who will keep the collateral? You?? I suggest adding a statement that you are comfortable with escrow if you are serious about this otherwise it will also end up like a dead thread.
thought that was pretty obvious, but mentioned it just in case. Thanks

Can you also add/mention what is your stable coin collateral? I don't see any... Roll Eyes
right now have usd on the bank. Thinking of usdc but open to other alternatives in case the lender requests that.

Your reason to not just buy Bitcoin with that USD?

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April 16, 2019, 01:13:27 PM
Merited by mocacinno (1), bill gator (1)
 #9

Your reason to not just buy Bitcoin with that USD?

Seems like that's exactly what the OP is trying to do, using the loan as a hedge:

1) BTC goes down, OP repays devalued bitcoins, walks away with the USD, the cost is only the tiny bit of interest.

or

2) BTC goes up, OP walks away with bitcoins, leaves the lender with the collateral USD.

That's assuming the loan is denominated in BTC. If it's denominated in USD then it doesn't make sense to begin with, because the OP already has the USD.

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April 16, 2019, 01:32:56 PM
 #10

In case anybody is seeing this thread without noticing the other, this user has another thread where this was discussed more in depth : https://bitcointalk.org/index.php?topic=5131862.0

They are essentially looking for a lender that is willing to be their risk-shield while they short Bitcoin. suchmoon is on the money. It's just a strange loan request for anybody to fill, in my opinion, and that's why you're going to have a tough time finding a lender.

Pro-Tip: Bitcoin is going up, so just buy the coins. Looking for 2% a year tells me that you'd prefer this to be an "open-term" loan that you repay whenever, meaning you just repay when your hedge pays off regardless of how many years it takes. I'd assume you would just wait until it is profitable, while accounting for the interest.
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April 16, 2019, 02:15:41 PM
 #11

I give 2% on bitcoin risk free since I fully collaterize at all times. If we ever get close escrow buys bitcoins with my money and sends them to you. Banks give interest in usd. It's a difference. I am open to any offers but no crazy interest rates

BTC risk free, how exactly? You will have them, trade them and earn and on the other hand an "escrow" will have in his bank account 150k sitting there. You really believe that the bank will not notice it and start asking questions? Especially (which is more possible) BTC to rise higher and you start "sending" $ to cover your loan... Roll Eyes
If it was so easy to move such amounts in fiat, then we wont have crypto.

Can you also add/mention what is your stable coin collateral? I don't see any... Roll Eyes
right now have usd on the bank. Thinking of usdc but open to other alternatives in case the lender requests that.

So the stable coin is actually... fiat?! Sorry man but i believe that you missing something or misunderstood it...
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April 16, 2019, 03:10:17 PM
 #12

I am sure none of the "sane" headed lenders of this forum would lend even a single satoshi to this freak. OP has a history of several shady attempts which can be found on their trust page. Better check them out and then let them banter on. Leaving this here in case some over-enthusiastic lender ends up sending them money, even if the probability of that is way below 0.01%, since I have seen how people have got scammed here. Roll Eyes

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PrimeNumber7
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April 17, 2019, 06:07:40 AM
 #13


interest : 2% a year

You can try to borrow on whatever terms are acceptable to you, but I think the interest you are offering is too low. If someone was willing to lend at 2%/year, they might go to Bankrate CD rates, and see FDIC insured banks offering 2.80% APY for a one year CD, and the lender would have virtually zero counter-party risk. It is up to individual traders to price their own risk, but I would price in something more than a 2% discount for having to account for the risk of whoever I am dealing with running away with my money. 
I give 2% on bitcoin risk free since I fully collaterize at all times. If we ever get close escrow buys bitcoins with my money and sends them to you. Banks give interest in usd. It's a difference. I am open to any offers but no crazy interest rates
I think I may have misunderstood your intentions, I understand now. You are wanting to short bitcoin via an OTC trade.

I am looking at interest rates for crypto lending on margin exchanges, and poloniex allows someone holding bitcoin to earn ~3.0%/year, but this is subject to change, and is not available to US residents.

Your reason to not just buy Bitcoin with that USD?

Seems like that's exactly what the OP is trying to do, using the loan as a hedge:

1) BTC goes down, OP repays devalued bitcoins, walks away with the USD, the cost is only the tiny bit of interest.

or

2) BTC goes up, OP walks away with bitcoins, leaves the lender with the collateral USD.

I believe what you describe is true for anytime collateral is used for a loan.

I am trying to brainstorm solutions to this problem:
The lender [if applicable: through a trusted middleman] could hold both the stablecoin and bitcoin, and once the OP is ready for the loan to be repaid, the lender can settle with the applicable coins he is holding for the loan.

If the OP wants to hold the bitcoin, the lender can add a clause to the Note that automatically terminates the loan if the value of the owed bitcoin exceeds the value of the stablecoin for an agreed upon length of time, and no additional stablecoin is deposited to the lender, or lender's behalf if using a middleman.

The OP can solicit entering into a straddle option agreement with who he is doing business with. This will probably make the transaction more expensive for the OP.

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April 17, 2019, 05:31:57 PM
 #14

I believe what you describe is true for anytime collateral is used for a loan.

Thus exorbitant rates and short terms around here. The OP wants no risk all reward.

If the OP wants to hold the bitcoin, the lender can add a clause to the Note that automatically terminates the loan if the value of the owed bitcoin exceeds the value of the stablecoin for an agreed upon length of time, and no additional stablecoin is deposited to the lender, or lender's behalf if using a middleman.

Basically a margin call. Might work but I don't think the OP would agree to that.

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April 17, 2019, 06:47:28 PM
 #15

I believe what you describe is true for anytime collateral is used for a loan.

Thus exorbitant rates and short terms around here. The OP wants no risk all reward.

If the OP wants to hold the bitcoin, the lender can add a clause to the Note that automatically terminates the loan if the value of the owed bitcoin exceeds the value of the stablecoin for an agreed upon length of time, and no additional stablecoin is deposited to the lender, or lender's behalf if using a middleman.

Basically a margin call. Might work but I don't think the OP would agree to that.
yes. Would agree to that. Makes complete sense to me. Working with someone on getting this loan going for a bit higher interest rate. Is someone is willing to do it for 2% let me know
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April 17, 2019, 06:48:39 PM
 #16

I am sure none of the "sane" headed lenders of this forum would lend even a single satoshi to this freak. OP has a history of several shady attempts which can be found on their trust page. Better check them out and then let them banter on. Leaving this here in case some over-enthusiastic lender ends up sending them money, even if the probability of that is way below 0.01%, since I have seen how people have got scammed here. Roll Eyes
I have never scammed anyone and this loan will be fully computerized at all times. Otherwise I agree to a margin call at 110%
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April 19, 2019, 05:40:33 AM
 #17

2% a year is incredibly good - hopefully you get that, but even with collateral it doesn't seem likely.

What is the stablecoin you would like to use?

Sorting myself out.
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April 21, 2019, 12:19:09 AM
 #18

I believe what you describe is true for anytime collateral is used for a loan.

Thus exorbitant rates and short terms around here. The OP wants no risk all reward.
I prefer to let the free market work itself out. There are plenty of people willing to lend at crazy interest rates, but few people willing to pay. Thus we see a lot of scammers here and not many interesting opportunities that are open very long.

2% a year is incredibly good - hopefully you get that, but even with collateral it doesn't seem likely.
I am looking at interest rates for crypto lending on margin exchanges, and poloniex allows someone holding bitcoin to earn ~3.0%/year, but this is subject to change, and is not available to US residents.
Interest rate on poloniex is still 3%/year.

I am confused why you would say 2%/year is "incredibly good" when 10 hours later you are having to try to take out a loan at 20% over 11 days.

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April 21, 2019, 03:36:28 AM
 #19

I believe what you describe is true for anytime collateral is used for a loan.

Thus exorbitant rates and short terms around here. The OP wants no risk all reward.
I prefer to let the free market work itself out. There are plenty of people willing to lend at crazy interest rates, but few people willing to pay. Thus we see a lot of scammers here and not many interesting opportunities that are open very long.

2% a year is incredibly good - hopefully you get that, but even with collateral it doesn't seem likely.
I am looking at interest rates for crypto lending on margin exchanges, and poloniex allows someone holding bitcoin to earn ~3.0%/year, but this is subject to change, and is not available to US residents.
Interest rate on poloniex is still 3%/year.

I am confused why you would say 2%/year is "incredibly good" when 10 hours later you are having to try to take out a loan at 20% over 11 days.

Incredibly good for the borrower.. Quite shitty for the lender. In my case, 20% over 11 days is incredibly good for the lender and quite shitty for the borrower..

Anyone interested in this is better off going with https://blockfi.com to be honest..

Sorting myself out.
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April 24, 2019, 02:13:37 PM
 #20

I am still looking for people. Over 20k usd stable coin available as collateral
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