ChrisPop's Lending Service

[ChrisPop]

I consider myself a veteran of this forum so I thought I offer a lending service to engage and aid the community we have here and of course make a little profit. I'll start with offering some small loans and then if I gain some traction I'll upgrade this service. The OP is pretty poor right now, but I'll invest more time in it in the future.

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Budget: 0.50BTC
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
ONLY Collateralized Loans

-Minimum 110% of loaned sum ( major altcoins accepted )
-No Bitcointalk accounts accepted
-Liquidation: Collateral is less than 105% of the loaned sum
-In the event of a liquidation the collateral will be sold at market price and the excess BTC will be returned to the borrower.
-All transaction fees are covered by the borrower
-If you are late with your repayment you will be charged double the interest
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Interest
1-10 days - 0.075%/day
10-20 days - 0.095%/day
20-30 days - 0.10%/day
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Post format

Code:

Requested BTC Amount:
Loan Period:
Collateral:
BTC Address:

Bitcoin Repayment Address: 36Vc9Mn2dxpgJGLTTo2Nom4gL4nkFvxxQJ

[2double0]

Loan Amount: 0.5 ETH
Reason: Need ETH to buy an alt. 
BTC Address: Need ETH at
0x9a0eae8cd366c780bbd968af34cc1178a72152f1     
Term Length: 28 days (15% interest total)   
Collateral: None

The campaign I'm enrolled in, can let me earn this in just a week. So, please consider my request.

[ChrisPop]

Loan Amount: 0.5 ETH
Reason: Need ETH to buy an alt. 
BTC Address: Need ETH at
0x9a0eae8cd366c780bbd968af34cc1178a72152f1     
Term Length: 28 days (15% interest total)   
Collateral: None

The campaign I'm enrolled in, can let me earn this in just a week. So, please consider my request.

As I have mentioned in the OP I will not accept loans without collateral. And I am not accepting bitcointalk accounts. I don't doubt your good trustworthiness as you're a legendary member and a negative feedback would damage your account value much more than 0.5 ETH. However please understand that this is a risk I am not willing to take.

[DarkStar_]

You're going to really struggle finding a borrower with such high interest rates and required altcoin collateral. The only advantage that your service has compared to most others is no liquidation condition, at the cost of much higher interest.

[petahasher]

I agree with DarkStar, you are asking for free money at this point, of which almost nobody will give you. You should re-think the terms of your service

[DarkStar_]

I agree with DarkStar, you are asking for free money at this point, of which almost nobody will give you. You should re-think the terms of your service

Technically he does have greater risk because someone could give him 0.12BTC of a highly volatile altcoin, and borrow 0.1BTC against it. If the coin pumps, he repays the loan, paying a sizable amount of interest but profiting much more. If the coin crashes, they could default the loan and ChrisPop would be left with a loss. It actually would work decently as a hedge in theory as you have limited downside (-0.02BTC) with unlimited upside and a 30 day period to exercise the repayment option.

[ChrisPop]

Thank you very much DarkStar for your feedback! I really appreciate it. These said I have revised my terms and my service will focus on short term loans. Also I have added a liquidation condition as you can see in the updated OP. I'm waiting for my first client 

[SM23031997]

Your Interest rate is too good to be true, are you planning to run away with the collateral? 
Am I eligible for 0.02 BTC loan?
I don't need it right now but checking places where I can get them without collateral for Gambling purpose only.

[ChrisPop]

Your Interest rate is too good to be true, are you planning to run away with the collateral? 
Am I eligible for 0.02 BTC loan?
I don't need it right now but checking places where I can get them without collateral for Gambling purpose only.

I am not here to make high profits, but to create more engagement and use of cryptocurrencies in this community. Run with 0.02btc? Haha.. That is a fortune if you think about it. I really believe that Bitcoin will be worth $1 Million sometime. 3%/week is pretty decent though borrowers need to cover all tx fees as well

[DarkStar_alt]

I am not here to make high profits

Then offer a competitive rate 

[ChrisPop]

I am not here to make high profits

Then offer a competitive rate  

At DarkStar's good advice I have updated my interest rates in order to be competitive in the market. Make sure to check all the info in the OP before applying for a loan. If you have questions feel free to leave a post here in the thread or PM me and I'll reply in a timely manner.

[ChrisPop]

For the next 24 hours I'm offering loans for maximum 10 days at half the normal interest + a 1 day grace period so you won't be charged double the interest rate if you are late for 1 day.

And please don't PM me asking for loans if you don't have a valid collateral to offer.

[DireWolfM14]

Hey Chris,
I was just about to update my list of lenders, and noticed you're charging lower interest rates for shorter term loans.  Is that your intention, or was that a mistake?

1-10 days - 0.075%/day
10-20 days - 0.095%/day
20-30 days - 0.10%/day

[ChrisPop]

Hey Chris,
I was just about to update my list of lenders, and noticed you're charging lower interest rates for shorter term loans.  Is that your intention, or was that a mistake?

1-10 days - 0.075%/day
10-20 days - 0.095%/day
20-30 days - 0.10%/day

Hey, Direwolf! Please check two-three posts above yours. That is my intention indeed. At DarkStar's advice I wanted to become competitive in the market so here I AM.
Lower interest rates for everybody 

[ChrisPop]

For the next 48 hours I'm offering loans for maximum 10 days at half the normal interest + a 1 day grace period so you won't be charged double the interest rate if you are late for 1 day.

P.S. I'm still waiting for the first borrower..