aliashraf
Legendary
Offline
Activity: 1456
Merit: 1174
Always remember the cause!
|
|
August 22, 2019, 05:03:46 PM |
|
I think you don't understand the meaning of a collateral, you are not paying 120% in crypto, it is the guarantee, you can't say "pay". What you pay is the interests, 5% interest monthly, saying "60%" out of nowhere doesn't mean anything. I'll give you an example, with big and round numbers so it is easy to understand: • 1 BTC = 10000 USDT • You want a 10 BTC loan for 15 days, 5% monthly / 0.167% daily, you have USDT as collateral, so you need to send me: ---> 120000 USDT = 10 * 10000 USDT * 120% • At the end of the 15 days, you will have to give back the capital (10 BTC) and you will have to pay the interest: ---> 0.2505 BTC = 15 * 0.167% * 10 BTC • Then I give you back the collateral 120000 USDT. • So the percent paid on the loan amount is: ---> 2.505% = 0.2505 / 10 Hope it is clear enough Sure I do understand what collateral is, Jees I mean if I had 120K USDT, I'd buy 10 btc, keeping my 20k untouched or using it for other purposes why should I pay any interest to anybody? To remain safe against btc price drops? What about the (more probable) price surges? Secondly, in banking we don't use daily, weekly, monthly interest rates, it is so confusing, conveniently we use yearly interest rate indexes to have a common terminology such that when a greedy shark says I pay you 5% interest loans we could compare his offer with what a regulated bank offers instead of banging our head over and over against the wall when we discover he means 60% interest per year.
|
|
|
|
|
|
|
|
|
"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
jbdee (OP)
|
|
August 22, 2019, 08:09:17 PM |
|
Take my example and replace USDT by another crypto like ETH, or the opposite (switch BTC and USDT), I should have not taken a stablecoin in my example, even if it's a valid collateral and the scenario is possible. A crypto loan is usually when you don't have FIAT and don't want to sell your crypto.
STT explained well the principle of the short term loans.
Again, you say "such that when a greedy shark says I pay you 5% interest loans", it doesn't mean 60% yearly, 5% is 5% if there is no time rate.
You can't compare a short term crypto loan to a bank loan, for the bank, you need a bank account, you need a solid purpose for the loan, you need to proove your identity, your address, your incomes, etc... And it's usually for years, I don't know any bank doing anonymous short term (few days) instant loan, if you know, let me know.
Also, does your bank lend crypto?!
Anyway everyone knows there is 12 months in a year or 365 days, so giving the monthly rate or daily rate is enough to know the yearly rate, but here it is for short term loans so it is a way easier and more straightforward to use the daily rate, or the rate for the duration of the loan.
|
|
|
|
jbdee (OP)
|
|
August 23, 2019, 02:57:02 PM |
|
Update: The minimum rate is now 0.10% daily, the minimum collateral is now 110%. And you can borrow EUR or USD!
|
|
|
|
jbdee (OP)
|
|
September 04, 2019, 06:16:37 PM |
|
Currency: BTC Wallet address: [private] Loan amount: 0.05 Repayment amount: 0.167% per day Duration in days: ?? (should be less than 1 month) Collateral currency: ZB Collateral amount: 2077 Bitcointalk username: [private] Telegram ID: [private]
Loan filled today 04/09/2019, I'll update when it's repaid.
|
|
|
|
mikelsmith2020
Member
Offline
Activity: 215
Merit: 99
|
|
September 11, 2019, 06:31:53 PM Last edit: September 14, 2019, 12:12:59 PM by mikelsmith2020 |
|
-snip-
Thank you for lending me some BTC. Have a great day! EditI received the collateral back, thank you so much and looking forward for our next transaction.
|
|
|
|
jbdee (OP)
|
|
September 14, 2019, 12:11:57 PM |
|
I got the withdrawal pending on Bitfinex for almost 3 days, support didn't help me at all. Don't use ZBT wallet on bitfinex. I had to sell the collateral and I paid back in BTC through another wallet (not from Bitfinex), as agreed with the borrower.
@mikelsmith2020 Thank you for your understanding and patience.
|
|
|
|
jbdee (OP)
|
|
October 05, 2019, 08:47:21 PM |
|
New loan with mikelsmith2020, agreed on Telegram: Currency: BTC Wallet address: [private] Loan amount: 0.02 Repayment amount: 0.167% per day Duration in days: ?? Collateral currency: ZB Collateral amount: 700 Bitcointalk username: mikelsmith2020 Telegram ID: [private] The rate will be lowered depending on the loan duration: - 15 to 30 days: 0.133% per day
- 31 to 60 days: 0.100% per day
|
|
|
|
DarkStar_
Legendary
Offline
Activity: 2758
Merit: 3282
|
|
October 06, 2019, 02:02:37 AM |
|
Heads up, ChrisPop technically has a lower interest rate (0.075% daily for loans 1-10 days and 0.095% daily for loans 10-20 days) for collateralized loans which makes your "Lowest Interest Loans" claim in the thread title invalid.
|
taking a break - expect delayed responses
|
|
|
jbdee (OP)
|
|
October 06, 2019, 11:34:11 AM |
|
Updated!
|
|
|
|
jbdee (OP)
|
|
October 18, 2019, 03:48:01 PM |
|
Loan fully repaid today, tx id: c927b487dd8495377454d045c13a7e5d333365f4cd89f3e1c0f47485e817df11 Collateral sent back, tx id: 0xf80820320c045bac22a169e89538da4afba3ddce94511cd3076e5e5c18069441
Thanks mikelsmith2020!
|
|
|
|
mikelsmith2020
Member
Offline
Activity: 215
Merit: 99
|
|
October 18, 2019, 03:50:44 PM |
|
Loan fully repaid today, tx id: c927b487dd8495377454d045c13a7e5d333365f4cd89f3e1c0f47485e817df11 Collateral sent back, tx id: 0xf80820320c045bac22a169e89538da4afba3ddce94511cd3076e5e5c18069441
Thanks mikelsmith2020!
Thank you again for our transaction! Have a great day, Cheers!
|
|
|
|
jbdee (OP)
|
|
October 27, 2019, 08:36:37 AM |
|
New loan with mikelsmith2020, started yesterday 26/10/2019. Currency: BTC Wallet address: [private] Loan amount: 0.008745 Repayment amount: 0.167% per day Duration in days: ?? Collateral currency: ZB Collateral amount: 333 Bitcointalk username: mikelsmith2020 Telegram ID: [private]
|
|
|
|
joeperry
Sr. Member
Online
Activity: 2114
Merit: 465
Bons.io Telegram Casino
|
|
December 15, 2019, 09:01:20 AM |
|
Thank you jbdee for another successful private transaction. The loan was repaid with low interest and the collateral has been released to my wallet.
Joe
|
|
|
|
jbdee (OP)
|
|
January 07, 2020, 08:23:38 AM |
|
My pleasure Lending service still available, even if I don't post messages on the forum, I'm still coming here everyday. If someone needs a loan, please post a message here and ping me on Telegram (jbdee).
|
|
|
|
jbdee (OP)
|
|
April 01, 2020, 04:02:57 PM |
|
Hi, a reminder to tell I still offer loans
|
|
|
|
jbdee (OP)
|
|
June 07, 2020, 01:24:46 PM |
|
I'm not really active on the forum recently, but my offer still stands!
|
|
|
|
jbdee (OP)
|
|
July 28, 2021, 07:18:39 PM |
|
I updated my offer, you can now get a loan at 12% yearly!
|
|
|
|
shasan
Copper Member
Legendary
Offline
Activity: 2198
Merit: 1271
Need a Bounty Manager? t.me/shasan32
|
|
August 08, 2021, 05:03:35 PM |
|
I updated my offer, you can now get a loan at 12% yearly!
For 10% yearly what is the maximum loan you can provide for me? And what will be the interest paid? Will it be paid monthly or yearly? And one important question, collateral is compulsory or not? Please let me know the answers of the mentioned questions.
|
|
|
|
DarkStar_
Legendary
Offline
Activity: 2758
Merit: 3282
|
|
August 08, 2021, 06:45:15 PM |
|
I updated my offer, you can now get a loan at 12% yearly!
For 10% yearly what is the maximum loan you can provide for me? And what will be the interest paid? Will it be paid monthly or yearly? And one important question, collateral is compulsory or not? Please let me know the answers of the mentioned questions. Read the thread
|
taking a break - expect delayed responses
|
|
|
jbdee (OP)
|
|
August 19, 2021, 01:47:06 PM |
|
I updated my offer, you can now get a loan at 12% yearly!
For 10% yearly what is the maximum loan you can provide for me? And what will be the interest paid? Will it be paid monthly or yearly? And one important question, collateral is compulsory or not? Please let me know the answers of the mentioned questions. Really sorry for the late reply, I didn't receive notifications, better to ping me on Telegram to get a reply faster here So, as DarkStar_ said, most of the info are in the first message of this topic I'll answer your questions: - It's 12% for a year long loan, not 10%. Or are you asking for a discount on the rate?
- The maximum amount depends of the crypto selected, 0.2 BTC, 5 ETH... You can see the list of crypto and amounts in the first message.
- The interest paid will be a % of the amount, in the same currency
- Collateral is mandatory
- My bad I was not clear about when interests have to be paid, let's say monthly but I'm flexible about it, we can agree on another duration
|
|
|
|
|