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Author Topic: I want to borrow 100 BSV  (Read 449 times)
eddie13
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December 20, 2019, 06:07:57 AM
 #21

That's exactly what I was thinking. But then, what he should do is use his BTC to leverage a BSV position in an exchange. Way cheaper and simpler...
As an American citizen like me, what market would you use right now to short BSV?
It's not all that easy..

"master plan" of trying to leave behind the collateral and stiff the deal in the improbable case that BSV happens to surge (10%+). 
Lender was betting in therms of BTC so keeps the collateral and the lender wins even if the borrower also wins and scams at the same time?
Redtags for scamming and not returning the BSV which is now worth more than the BTC collateral? Broken contract..


So that's why 110% collateral is inaceptable in this case.
I'm not exactly expecting BSV to surge, it would basically be instantaneous liquidation considering the buffer zone..

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Railai
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December 20, 2019, 10:13:31 AM
 #22

It looks like an okish ammount, now with the low price people can go and buy, it will rise anyway in a matter of some weeks, so it shall be profit on both sides.
I might be interested if you agree with certain terms, right now I owe less than 50 bsv on my binance; and the good part is that they enabled transfers between accounts lately so sounds ok.

Finally the interesting response. Thank you. OK, let's get to the details. I can use my BTC as a collateral but have no experience in borrowing. I am not willing to send you my collateral first because I do not know you. I need to read some posts how to do that. Or maybe you can help me and write how to do that with no risk for me nor you? Escrow sounds OK.
one suggestion, I am not too much experienced and I'm not lender but there is official escrow list you should use, and do not trade via telegram or skyp
Use only forum

I am sorry for your missunderstanding; but I will do only though telegram or skype whatever; a third party will hold his funds of course and we have to decide over how it is going to be, if it falls under some situations, the price average; but how can we decide as such with 1 pm/day!
OP can send me at any time a PM with his chat address; jabber/tg/skype/viber whatever and we see from there how to and with whom to speak about making it safe for both of us

She's crazy like a fool.
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December 20, 2019, 06:18:37 PM
 #23

That's exactly what I was thinking. But then, what he should do is use his BTC to leverage a BSV position in an exchange. Way cheaper and simpler...
As an American citizen like me, what market would you use right now to short BSV?
It's not all that easy..

"master plan" of trying to leave behind the collateral and stiff the deal in the improbable case that BSV happens to surge (10%+).  
Lender was betting in therms of BTC so keeps the collateral and the lender wins even if the borrower also wins and scams at the same time?
Redtags for scamming and not returning the BSV which is now worth more than the BTC collateral? Broken contract..


So that's why 110% collateral is inaceptable in this case.
I'm not exactly expecting BSV to surge, it would basically be instantaneous liquidation considering the buffer zone..

I was thinking about Kraken but afterwards I realised it doesn't support BSV anymore (or it had plans to stop). Maybe there are others available, maybe not, that would explain the OP request.

We won't really know what the OP is thinking about unless he explains it himself. Would really like to know even if just to learn something. And maybe it is not as fishy as it sounds (I can't blame someone for *trying* to get amazing terms on a loan). Most suspicious things are that it is a completely new account and the specific BSV loan, which is weird to say the least... buy if he can agree to terms that result in a win-win situation for everybody then it's all fine.

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DireWolfM14
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December 20, 2019, 06:47:22 PM
 #24

I think he wants to get short on BSV..

Well, the OP doesn't come off like a complete dumbass, so that's likely his intent.  I can't imagine any other reason to borrow BSV while having BTC to use as collateral.  But I think you're assumption that the OP doesn't have access to an exchange that will allow him to leverage his BTC for short BSV is probably why he's here.  That or he's unwilling to use an exchange for some reason or another.

There are a couple of exchanges that list BSV that I would consider doing business with, but I've never heard of most, and some I know are pretty shady.  Bitfinex lists the coin, but I've never tried to open an account with them.  Is their service available to US residents?


I will do only though telegram or skype whatever; a third party will hold his funds of course and we have to decide over how it is going to be, if it falls under some situations, the price average; but how can we decide as such with 1 pm/day!
OP can send me at any time a PM with his chat address; jabber/tg/skype/viber whatever and we see from there how to and with whom to speak about making it safe for both of us

Sounds like someone planning an Impostor Scam.  PM restrictions won't prevent you from hashing out the details and commissioning an escrow agent in this thread.  Why insist on taking the conversation to a place where scammers thrive?


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suchmoon
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December 20, 2019, 07:05:38 PM
 #25

Bitfinex lists the coin, but I've never tried to open an account with them.  Is their service available to US residents?

No: https://www.bitfinex.com/legal/terms

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“Prohibited Person” means any U.S. Person; [...]
borrowingborrower (OP)
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December 20, 2019, 08:15:22 PM
 #26

The main problem is that you are a completely new account asking for a loan. 10-20% per year might be reasonable for a trusted member IF it really were for a year, but you want to extrapolate that interest to a few days? If we consider fees and all that you are basically asking for a free loan. And then there is the collateral that might not account for extreme valuation changes of BSV.

What do you want the BSV for if it is not too much to ask? I mean, if you already have 110% the amount in BTC... Can't you just leverage your BTC or convert it and do "your thing" then convert back?

Anyway, eddie13 offer above seems to be very reasonable and maybe closer to what you are looking for.


Yes, I am a new person here, no doubt. I fully understand that you are afraid. To be honest I am not willing to send any BTC to anyone if there is no third-party escrow service or any other guarantee. But if I offer a collateral there is probably no risk for a lender, right? OK, if there is a price change I can increase the collateral.

Since I am not an English native speaker I have difficulties in uderstanding eddie13's offer. But I don't think it is an offer from a BSV holder - he writes "exchange rates both ways"...

I can borrow 100 BSV for a year returning 110-120 BSV. That's even better for me. The question is wether it is better for you because the price within a year can be very low and your 120 BSV will be depreciated. I thought my offer might be interesting for someone who holds BSV and can lend them for a while earning a little extra profit instead of holding them on a wallet and earning zero.

What is "my thing"? Sorry but I am not going to reveal it. But it is better to use BSV (mine plus borrowed) and return the loan paying the fee (reasonable) than converting my BTC to BSV and back. If I use the conversion I face the price changing risk, but if I use BSV there is no risk on my side.

Once again, I am looking for people who own some BSV and within a week/month/year are not going to use (sell) them.
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December 20, 2019, 11:22:33 PM
 #27

The main problem is that you are a completely new account asking for a loan. 10-20% per year might be reasonable for a trusted member IF it really were for a year, but you want to extrapolate that interest to a few days? If we consider fees and all that you are basically asking for a free loan. And then there is the collateral that might not account for extreme valuation changes of BSV.

What do you want the BSV for if it is not too much to ask? I mean, if you already have 110% the amount in BTC... Can't you just leverage your BTC or convert it and do "your thing" then convert back?

Anyway, eddie13 offer above seems to be very reasonable and maybe closer to what you are looking for.


Yes, I am a new person here, no doubt. I fully understand that you are afraid. To be honest I am not willing to send any BTC to anyone if there is no third-party escrow service or any other guarantee. But if I offer a collateral there is probably no risk for a lender, right? OK, if there is a price change I can increase the collateral.

Since I am not an English native speaker I have difficulties in uderstanding eddie13's offer. But I don't think it is an offer from a BSV holder - he writes "exchange rates both ways"...

I can borrow 100 BSV for a year returning 110-120 BSV. That's even better for me. The question is wether it is better for you because the price within a year can be very low and your 120 BSV will be depreciated. I thought my offer might be interesting for someone who holds BSV and can lend them for a while earning a little extra profit instead of holding them on a wallet and earning zero.

What is "my thing"? Sorry but I am not going to reveal it. But it is better to use BSV (mine plus borrowed) and return the loan paying the fee (reasonable) than converting my BTC to BSV and back. If I use the conversion I face the price changing risk, but if I use BSV there is no risk on my side.

Once again, I am looking for people who own some BSV and within a week/month/year are not going to use (sell) them.
I am not actually a lender, if forum rules allow I'll make a loan for you, covering by forum escrow at FORUM
I will send you pm, let me know what you ve chosen
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December 21, 2019, 09:38:14 AM
Merited by Quickseller (2), eddie13 (1)
 #28

I think he wants to get short on BSV..

Well, the OP doesn't come off like a complete dumbass, so that's likely his intent.  I can't imagine any other reason to borrow BSV while having BTC to use as collateral.  But I think you're assumption that the OP doesn't have access to an exchange that will allow him to leverage his BTC for short BSV is probably why he's here.  That or he's unwilling to use an exchange for some reason or another.

There are a couple of exchanges that list BSV that I would consider doing business with, but I've never heard of most, and some I know are pretty shady.  Bitfinex lists the coin, but I've never tried to open an account with them.  Is their service available to US residents?


I will do only though telegram or skype whatever; a third party will hold his funds of course and we have to decide over how it is going to be, if it falls under some situations, the price average; but how can we decide as such with 1 pm/day!
OP can send me at any time a PM with his chat address; jabber/tg/skype/viber whatever and we see from there how to and with whom to speak about making it safe for both of us

Sounds like someone planning an Impostor Scam.  PM restrictions won't prevent you from hashing out the details and commissioning an escrow agent in this thread.  Why insist on taking the conversation to a place where scammers thrive?



As a matter of fact this happened, @herbert initiated a conversation with me on skype. I told him that I am limited on pm's and find someone to talk on skype. A user that said is this user: https://bitcointalk.org/index.php?action=profile;u=18321 texted me and made a group of talking.

Today I asked this user if he spoke with me on skype and he said no.
Quote
Og, 3:34 AM
Sorry guys, but you misunderstood, I can not escrow over Skype. Only via is via forum PM I'm sorry but try with another escrow

You asked for my Skype but here you can only discuss
Trading via forum due transparency and safety

It was a lame attempt to cheat me; I was willing to help out as I also mine BSV and the price was ok for me to give it out vs bitcoin. It seems people are looking here only for selective scams. Annoying and disrespectful

She's crazy like a fool.
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