chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 07, 2011, 08:47:09 PM Last edit: December 12, 2011, 09:56:34 PM by chungenhung |
|
Looking for loans. The loan amount should be $500 - $3000 or more if you feel comfortable. You must be in the USA, so we can do a simple bank-to-bank ACH transfer, or via dwolla. The goal is to keep the transaction cost low.
I will repay you in 3 months time, with 1.25% interest. So, $1000 will get you $1012.50 in 3 months.
Will provide you my full name and address. You can take my mining rigs as collateral. Hashing power about 7.5-8G/Hash.
Let me know what you guys think. I believe 5% is fair, but that's negotiable.
|
|
|
|
Coinabul
|
|
December 07, 2011, 09:01:51 PM |
|
Where are you located in the U.S.? I think that's someone who would be willing to make this loan would want to know. (I'd never do it, way too much risk involved.)
|
|
|
|
chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 07, 2011, 09:05:05 PM |
|
Full details would be provided once people are interested. I am in the continental US.
|
|
|
|
|
chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 12, 2011, 09:55:11 PM |
|
YOUR OWN calculation shows "Net profit: $12.30". How is that a loss? Furthermore, the strategy is for LONG term. 3 months is not long term.
|
|
|
|
dark_science
Newbie
Offline
Activity: 30
Merit: 0
|
|
December 22, 2011, 09:48:19 PM |
|
$12.30 on $1000? ask your mum or dad, they would be the only sane person to give you that rate.
|
|
|
|
DeathAndTaxes
Donator
Legendary
Offline
Activity: 1218
Merit: 1079
Gerald Davis
|
|
December 22, 2011, 10:10:47 PM |
|
Let me know what you guys think. I believe 5% is fair, but that's negotiable. You believe 5% is fair for a semi-anonymous no-recourse signature loan. Wow. You do understand that most people's mortgages were (at least until recently) >5%?
|
|
|
|
chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 23, 2011, 07:02:20 PM |
|
Let me know what you guys think. I believe 5% is fair, but that's negotiable. You believe 5% is fair for a semi-anonymous no-recourse signature loan. Wow. You do understand that most people's mortgages were (at least until recently) >5%? Did you not read "Will provide you my full name and address. You can take my mining rigs as collateral. Hashing power about 7.5-8G/Hash"? But if you are paying >5% mortgage.... you shouldn't loan anyone money. The best rate I can get for mortgage is 2.8%. Then again, I said NEGOTIABLE. What do you think is fair then?
|
|
|
|
chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 23, 2011, 07:04:46 PM |
|
$12.30 on $1000? ask your mum or dad, they would be the only sane person to give you that rate.
It is 12.50, not 12.30........ So what you are saying is all banks, federal reserve, ECB, IMF, etc are all insane? oh, I don't have mom or dad
|
|
|
|
DeathAndTaxes
Donator
Legendary
Offline
Activity: 1218
Merit: 1079
Gerald Davis
|
|
December 23, 2011, 07:09:11 PM Last edit: December 24, 2011, 12:06:42 AM by DeathAndTaxes |
|
Did you not read "Will provide you my full name and address. You can take my mining rigs as collateral. Hashing power about 7.5-8G/Hash"? Of course I did. Yes I would consider that semi anonymous a signed notarized contract along w/ notarized as copy of your passport would be proof of identity. But if you are paying >5% mortgage.... you shouldn't loan anyone money. The best rate I can get for mortgage is 2.8%. You can't get 2.8% on a mortgage. APR is what matters. Even if you could it is SECURED BY A HOUSE, registered with the state, backed by an enforceable contract, credit check, and ability to foreclose. Then again, I said NEGOTIABLE. What do you think is fair then? 15% w/ notarized contract.
|
|
|
|
DeathAndTaxes
Donator
Legendary
Offline
Activity: 1218
Merit: 1079
Gerald Davis
|
|
December 23, 2011, 07:10:04 PM |
|
So what you are saying is all banks, federal reserve, ECB, IMF, etc are all insane? Then get a loan from the federal reserve or IMF.
|
|
|
|
chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 23, 2011, 08:57:49 PM |
|
No need to flame. I can get 0% balance transfer on credit cards, minus say 1-2% fee. At 15%, I might as well not borrow at all.
|
|
|
|
RaggedMonk
|
|
December 23, 2011, 10:05:01 PM |
|
YOUR OWN calculation shows "Net profit: $12.30". How is that a loss? Furthermore, the strategy is for LONG term. 3 months is not long term. Yeah, it looks like you made a profit on that transaction, but I still feel confident that you don't understand the risks of your own system if you say it is "Risk-free". It looks like you are selling an option and thus limiting your upside while still exposing yourself to downside risk. There's no such thing as a free lunch in the financial market. Lender beware.
|
|
|
|
Ranvier
Newbie
Offline
Activity: 23
Merit: 0
|
|
December 23, 2011, 11:04:47 PM |
|
1.25% is ridiculous considering the level of risk being taken on such a large loan.
|
|
|
|
DeathAndTaxes
Donator
Legendary
Offline
Activity: 1218
Merit: 1079
Gerald Davis
|
|
December 24, 2011, 12:09:36 AM |
|
I can get 0% balance transfer on credit cards, minus say 1-2% fee.
Got a link to this 0% balance transfer w/ 1% fee cards? The single lowest card I have seen is 0% w/ 3% fee. Penfed also has a nice 4.49% balance transfer w/ no fee card. Of course even those incredible offers are with verified credit and income and only given to most creditworthy applicants. At 15%, I might as well not borrow at all.
Well at 1.25% no sane lender is going to lend to you.
|
|
|
|
chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 24, 2011, 06:13:35 AM |
|
1.25% is ridiculous considering the level of risk being taken on such a large loan.
A lot of you are missing the point. 1.25% per 3 months is more than 5%APR. Find me a bank that pays you more than 2% these days. If you think is too much risk for you, then please move on.
|
|
|
|
DeathAndTaxes
Donator
Legendary
Offline
Activity: 1218
Merit: 1079
Gerald Davis
|
|
December 24, 2011, 06:21:33 AM |
|
1.25% is ridiculous considering the level of risk being taken on such a large loan.
A lot of you are missing the point. 1.25% per 3 months is more than 5%APR. Find me a bank that pays you more than 2% these days. If you think is too much risk for you, then please move on. A bank is FDIC insured you aren't stop drawing false comparisons.
|
|
|
|
JusticeForYou
VIP
Sr. Member
Offline
Activity: 490
Merit: 271
|
|
December 24, 2011, 06:31:07 AM |
|
I understand your attempt here in acquiring funds. Basically you want a loan from the 'BitCoin Bank.' You are offering collateral and detailed information for said loan. Perhaps if you provide a detailed business plan on the use of the money, there 'might' be some interest. Look at it from another perspective. You want $1000 for 3 months and for said risk; all the investor gets is $12.50? You have to let your investors know you aren't going to double down at the Casino. If your plan makes sense and since you are willing to forgo anonymity, you might get a taker. Probably from someone very local to you, just in case. However, if you are just investing in another's fund here, they might just go and put their money with him instead and get a little more interest. I like the effort, BTC Loans will eventually have to come into play as options have.
|
|
|
|
. ..1xBit.com Super Six.. | ▄█████████████▄ ████████████▀▀▀ █████████████▄ █████████▌▀████ ██████████ ▀██ ██████████▌ ▀ ████████████▄▄ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ▀██████████████ | ███████████████ █████████████▀ █████▀▀ ███▀ ▄███ ▄ ██▄▄████▌ ▄█ ████████ ████████▌ █████████ ▐█ ██████████ ▐█ ███████▀▀ ▄██ ███▀ ▄▄▄█████ ███ ▄██████████ ███████████████ | ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ ███████████▀▀▀█ ██████████ ███████████▄▄▄█ ███████████████ ███████████████ ███████████████ ███████████████ ███████████████ | ▄█████ ▄██████ ▄███████ ▄████████ ▄█████████ ▄██████████ ▄███████████ ▄████████████ ▄█████████████ ▄██████████████ ▀▀███████████ ▀▀███████ ▀▀██▀ | ▄▄██▌ ▄▄███████ █████████▀ ▄██▄▄▀▀██▀▀ ▄██████ ▄▄▄ ███████ ▄█▄ ▄ ▀██████ █ ▀█ ▀▀▀ ▄ ▀▄▄█▀ ▄▄█████▄ ▀▀▀ ▀████████ ▀█████▀ ████ ▀▀▀ █████ █████ | ▄ █▄▄ █ ▄ ▀▄██▀▀▀▀▀▀▀▀ ▀ ▄▄█████▄█▄▄ ▄ ▄███▀ ▀▀ ▀▀▄ ▄██▄███▄ ▀▀▀▀▄ ▄▄ ▄████████▄▄▄▄▄█▄▄▄██ ████████████▀▀ █ ▐█ ██████████████▄ ▄▄▀██▄██ ▐██████████████ ▄███ ████▀████████████▄███▀ ▀█▀ ▐█████████████▀ ▐████████████▀ ▀█████▀▀▀ █▀ | . Premier League LaLiga Serie A | . Bundesliga Ligue 1 Primeira Liga | | . ..TAKE PART.. |
|
|
|
chungenhung (OP)
Legendary
Offline
Activity: 1134
Merit: 1005
|
|
December 24, 2011, 06:38:52 AM |
|
I understand your attempt here in acquiring funds. Basically you want a loan from the 'BitCoin Bank.' You are offering collateral and detailed information for said loan. Perhaps if you provide a detailed business plan on the use of the money, there 'might' be some interest. Look at it from another perspective. You want $1000 for 3 months and for said risk; all the investor gets is $12.50? You have to let your investors know you aren't going to double down at the Casino. If your plan makes sense and since you are willing to forgo anonymity, you might get a taker. Probably from someone very local to you, just in case. However, if you are just investing in another's fund here. They might just go and put their money with him instead and get a little more interest. I like the effort, BTC Loans will eventually have to come into play as options have. Totally understand. See, I have a real job, and a few rigs putting out 8+Ghash. What I do with the money is my own problem, if I double down at the casino, so what? Say someone make 3000 a month, and borrows 1500 and spent it at the casino. That someone could easily make 1500 back in 2 weeks. The important thing is will I be able to repay. Do you think banks are safe? Most western (meaning US and European) banks leverage your deposit 30+ times. Do you think that is safe? I would rather lend someone $ knowing they can actually repay, than put it into bank and let them leverage it 30 times. We all know what happened to MF Global. But then again, just an option for those interested. It's not like I really needed the money now or I am done or something like that.
|
|
|
|
RaggedMonk
|
|
December 24, 2011, 10:25:25 AM |
|
What I do with the money is my own problem, if I double down at the casino, so what? Say someone make 3000 a month, and borrows 1500 and spent it at the casino. That someone could easily make 1500 back in 2 weeks. The important thing is will I be able to repay. Do you think banks are safe? Most western (meaning US and European) banks leverage your deposit 30+ times. Do you think that is safe? I would rather lend someone $ knowing they can actually repay, than put it into bank and let them leverage it 30 times. We all know what happened to MF Global.
But then again, just an option for those interested. It's not like I really needed the money now or I am done or something like that.
LOL
|
|
|
|
|