Small loan required

[UFTotal]

Hello everyone,

I need a small loan secured by ERC20 tokens. Estimated tokens market value is $85. Need around 70% of that in BCH (preferably) or BTC.

The reason for lending funds is the urgent need to pay for VPS. Asking for a loan here is the last thing I would do, but lacking any eths atm am now trying my luck here. I tried to withdraw the tokens to an exchange, even funded some eth and paid the Poloniex $15 commission on the withdrawal, but the gas burned out and I basically lost money. Now when the price for the token is growing it's really wise to keep it until I have enough eth in my account.

The loan is required for not longer than 2 weeks. Will repay back the loan amount + 15%. I know it's not too much considering the amount is small, but you can see for yourself that the price for that asset is getting closer to $100 and will even be more in two weeks time.

Thanks in advance to anyone who can help me out. Am looking forward to adequate offers.

[condoras]

I tried to withdraw the tokens to an exchange, even funded some eth and paid the Poloniex $15 commission on the withdrawal, but the gas burned out and I basically lost money.

So you have or you don't have any token/ coin on Polo? I'm a bit confused...
Btw, you can't "burn" any gas on any exchange simply because you don't choose the gas amount...

[UFTotal]

I tried to withdraw the tokens to an exchange, even funded some eth and paid the Poloniex $15 commission on the withdrawal, but the gas burned out and I basically lost money.

So you have or you don't have any token/ coin on Polo? I'm a bit confused...
Btw, you can't "burn" any gas on any exchange simply because you don't choose the gas amount...

You got it wrong, but my bad, it looks muddled, yes. Here's how it is...
The tokens are in my eth wallet. I wanted to withdraw them, but had no eth in the wallet. Then I sent some eth there from Poloniex and paid commissions to receive 30% of what I spent, and when the coins have arrived I tried to withdraw, but as the gas price was high the tx ran out of gas.

Now I have the tokens sitting there, but have no eth. And to fund some eth at my location I'll have to have at least $50-$70, which is irrational for me atm.

[suchmoon]

Now I have the tokens sitting there, but have no eth. And to fund some eth at my location I'll have to have at least $50-$70, which is irrational for me atm.

If you can't send it you won't be able to use at as a collateral. You can't just say "I have it", you have to give the collateral to the lender (or to an escrow).

It's also unclear how it "ran out of gas". The TX was either confirmed or not.

[UFTotal]

If you can't send it you won't be able to use at as a collateral. You can't just say "I have it", you have to give the collateral to the lender (or to an escrow).

I use MEW and I thought I could move a wallet to the lender's escrow. Another option would be providing a lender access to the wallet so that he can pay the TX fee to transfer coins to the escrow. Both are possible.

It's also unclear how it "ran out of gas". The TX was either confirmed or not.

It wasn't confirmed obviously, but I did lost both the TX fee and the exchange fees 

[suchmoon]

I use MEW and I thought I could move a wallet to the lender's escrow. Another option would be providing a lender access to the wallet so that he can pay the TX fee to transfer coins to the escrow. Both are possible.

If you give the wallet to someone else, you still have the original PK/seed so that's not a valid collateral (you still have control of it). If lender has to pay TX fees to get the funds, you would have to cover that cost, so that's no different than doing it yourself.

[UFTotal]

If you give the wallet to someone else, you still have the original PK/seed so that's not a valid collateral (you still have control of it). If lender has to pay TX fees to get the funds, you would have to cover that cost, so that's no different than doing it yourself.

The former would be a valid collateral, because I could provide that first and the lender would do what's best for him.

The latter can be possible and is different for me, because to get $10 in ETH requires me to spend $50 on commissions in-out, etc. Someone might be having some ETH in the account to do this. I would provide access to a trusted member, that is no problem.

[suchmoon]

The former would be a valid collateral, because I could provide that first and the lender would do what's best for him.

The only sane thing the lender can do is send the tokens to their own wallet and they would have to pay the TX fee out of pocket. And then another TX fee to send it back to you if you repay the loan. If you don't pay those fees then the whole thing doesn't make sense.

The latter can be possible and is different for me, because to get $10 in ETH requires me to spend $50 on commissions in-out, etc. Someone might be having some ETH in the account to do this. I would provide access to a trusted member, that is no problem.

Same here. You have to cover the fees. You are unable to do it. ERC20 roundtrip will cost $30-40 these days. You can't expect the lender to cover that on a $60 loan.

[UFTotal]

The former would be a valid collateral, because I could provide that first and the lender would do what's best for him.

The only sane thing the lender can do is send the tokens to their own wallet and they would have to pay the TX fee out of pocket. And then another TX fee to send it back to you if you repay the loan. If you don't pay those fees then the whole thing doesn't make sense.

The latter can be possible and is different for me, because to get $10 in ETH requires me to spend $50 on commissions in-out, etc. Someone might be having some ETH in the account to do this. I would provide access to a trusted member, that is no problem.

Same here. You have to cover the fees. You are unable to do it. ERC20 roundtrip will cost $30-40 these days. You can't expect the lender to cover that on a $60 loan.

Ok, nice roundup, no argue on that points. So what is the reasonable lending amount on a $80+ mkt value? I'm afraid I will have to pay $40 for my VPS asap, so if that's reasonable, I'd get back in two weeks and cover the return TX fees.

Well, I have expensive collateral types, but not specific to this community, and no one seems accepting premium domains in here. Or did I miss someone?

[suchmoon]

Ok, nice roundup, no argue on that points. So what is the reasonable lending amount on a $80+ mkt value? I'm afraid I will have to pay $40 for my VPS asap, so if that's reasonable, I'd get back in two weeks and cover the return TX fees.

Well, I have expensive collateral types, but not specific to this community, and no one seems accepting premium domains in here. Or did I miss someone?

Domains are certainly no good here as collateral, and you haven't said yet what your token is and how much you have so it's still unclear if that's a valid collateral either.

I really doubt you can make this work, not with current TX fees. Keep in mind that the lender would need to be able to liquidate your tokens quickly if shit goes south.

[UFTotal]

Ok, nice roundup, no argue on that points. So what is the reasonable lending amount on a $80+ mkt value? I'm afraid I will have to pay $40 for my VPS asap, so if that's reasonable, I'd get back in two weeks and cover the return TX fees.

Well, I have expensive collateral types, but not specific to this community, and no one seems accepting premium domains in here. Or did I miss someone?

Domains are certainly no good here as collateral, and you haven't said yet what your token is and how much you have so it's still unclear if that's a valid collateral either.

I really doubt you can make this work, not with current TX fees. Keep in mind that the lender would need to be able to liquidate your tokens quickly if shit goes south.

I don't expect someone to lend me coins over this at the drop of a hat. Lenders are all different people in different situations after all. Some may have their own math as to what's working best at that particular moment for them and what's absolutely not. Who knows, will see. Thanks for your 2 cents anyway.

[suchmoon]

Is is this one?

https://coinmarketcap.com/currencies/livepeer/

How many do you have? You should dump it before the pump ends. Given recent volatility, it's worth probably $5 at best as a collateral. Don't expect lenders to assume your bagholding risks.

[UFTotal]

Is is this one?

https://coinmarketcap.com/currencies/livepeer/

How many do you have? You should dump it before the pump ends. Given recent volatility, it's worth probably $5 at best as a collateral. Don't expect lenders to assume your bagholding risks.

Thank you. Appreciate it. But which pump do you mean? The global crypto pump or a token-specific pump?? Can you please state any objective facts (factors) playing in favor of this conclusion of yours?

[suchmoon]

Thank you. Appreciate it. But which pump do you mean? The global crypto pump or a token-specific pump?? Can you please state any objective facts (factors) playing in favor of this conclusion of yours?

Are you serious? The token was below $10 two weeks ago and $1.50 in January. You're asking for a two-week loan and you still haven't told us how many of those tokens you have so I'm guessing ~2 based on the recent spike to $40+ and your valuation of $85.

[UFTotal]

Thank you. Appreciate it. But which pump do you mean? The global crypto pump or a token-specific pump?? Can you please state any objective facts (factors) playing in favor of this conclusion of yours?

Are you serious? The token was below $10 two weeks ago and $1.50 in January. You're asking for a two-week loan and you still haven't told us how many of those tokens you have so I'm guessing ~2 based on the recent spike to $40+ and your valuation of $85.

https://meem.link/i/uf2jk8zz.png

Ok, nothing objective, just your opinion on how it may go (or may not). If you look at any other chart of any coin, you may see similar patterns, especially at the beginning of a coin's growth. In the crypto universe there have always been pumps&dumps, but somehow the mighty Bitcoin is still alive and kicking. And I don't compare to BTC (I should maybe at some points), and I can't compare apples to oranges, because larger coins are harder to manipulate and affect, but they are affected too. Moreover, the token in question has long been promoted and it's coming up just now. So no, I can't tell I agree with you, but time will tell.

No disrespect absolutely, but one more question please, are you a lender or just having some spare time this Saturday to search for the tech details to prove me wrong? Any fundamentals maybe? If you're expert in this area, please do forgive my ignorance. But if not, I wonder what's your agenda?

[suchmoon]

No disrespect absolutely, but one more question please, are you a lender or just having some spare time this Saturday to search for the tech details to prove me wrong? Any fundamentals maybe? If you're expert in this area, please do forgive my ignorance. But if not, I wonder what's your agenda?

Lenders are not in the "fundamentals" business, they are in the business of making sure you can repay the loan with interest. Since you're having trouble even moving your supposed collateral to an exchange and it had a recent massive spike, there is a good chance you're either trying to dump it here, or would walk away if the price drops.

Keep in mind that you're the one asking for money here so cut that shit about agendas. I'm not a lender but I have a decent BS detector and some lenders might find it useful or they can just ignore me and give you money anyway. Free market FTW.

[UFTotal]

No disrespect absolutely, but one more question please, are you a lender or just having some spare time this Saturday to search for the tech details to prove me wrong? Any fundamentals maybe? If you're expert in this area, please do forgive my ignorance. But if not, I wonder what's your agenda?

Lenders are not in the "fundamentals" business, they are in the business of making sure you can repay the loan with interest. Since you're having trouble even moving your supposed collateral to an exchange and it had a recent massive spike, there is a good chance you're either trying to dump it here, or would walk away if the price drops.

Keep in mind that you're the one asking for money here so cut that shit about agendas. I'm not a lender but I have a decent BS detector and some lenders might find it useful or they can just ignore me and give you money anyway. Free market FTW.

Thank you for your opinion and have a great day! Take care.