Stablecoin lending. - You decide interest.

[alterra57]

ESCROW AVAILABLE
Escrow available through localcryptos or a trusted member of the community.

Number of given no-collateral loans: 9
Number of given collateral loans: 0

Who can apply for a loan?

1. Reputable members of the forum.
2. Non-reputable members of the forum.

Requirements that must be fulfilled when applying for a loan:

1. Reputable members:

a) Account has been active the past 6 months.
b) No active loan when applying for a no-collateral loan.
c) Positive trust score surpasses negative one (if any) by 80%.
* To be added *

2. Non-reputable members:

a) Account has been active the past 6 months.
b) Collateral is provided.
c) Has no negative trust score.
* To be added*

Collateral

Accepted collateral and required collateral when taking a loan:
Required collateral is decided on the volatility of the token.

a) Bitcoin [ 120% ]
b) Ethereum [ 150% ]
c) Litecoin [ 180% ]
d) BNB [ 160% ]
e) Unus Sed Leo [ 140% ]
f) DOT [ 210% ]
g) Monero [ 300% ]

Example: If you take a 100 USD loan you must provide BTC collateral which is valued at 120 USD.

Available tokens:

a) USDT
b) USDC
c) DAI


Loan limits:

100 USD to 500 USD

Application format:

Code:

Loan amount:
Loan term (return date):
Interest rate:
Return amount (how much will you send back):
Collateral:
Address (where to send if application is approved):
Chain:

The content of this topic can change without warning at any given time. If loan is not returned at the date applicant has written in his application an extra 1% will be added every day for 3 days to the interest rate. If loan is not paid after 3 days I reserve the right to liquidate the collateral at market price and leave a negative trust score.

[1714262262]

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[1714262262]

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[1714262262]

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[LoyceV]

a) 100% collateral. Example: If required loan is 100 USD, collateral must be 200 USD.
b) Collateral must be in the same stablecoin loan is given. No altcoins. USDT loan, USDT collateral. USDC loan, USDC collateral etc.

So: someone gives you $200 collateral. Out of that $100, you give him $100 as a loan. Then he has to pay you back $120, after which you give him $200 again?
You're either really dumb or really smart. Why would anyone pay you to be able to use half of their own money? I've seen a similar scheme before, and I can't figure out why.

[alterra57]

a) 100% collateral. Example: If required loan is 100 USD, collateral must be 200 USD.
b) Collateral must be in the same stablecoin loan is given. No altcoins. USDT loan, USDT collateral. USDC loan, USDC collateral etc.

So: someone gives you $200 collateral. Out of that $100, you give him $100 as a loan. Then he has to pay you back $120, after which you give him $200 again?
You're either really dumb or really smart. Why would anyone pay you to be able to use half of their own money? I've seen a similar scheme before, and I can't figure out why.

Cash secured loans are used to prevent large losses and help businesses or individuals avoid bankruptcy. Not that anyone will go bankrupt on a 100 USD loan but that's why they exist, I am experimenting here and will keep this going for as long as I have enough data for one of the products we plan on offering to our private clients.

Reasons why cash secured loans are a thing:
1. Build credit
2. Better loans in the future
3. Keeps collateral intact as it can be slowly paid back.

It's easier when the collateral is used to slowly pay the loan in case of a failure where the original investment is lost. Collateral can also be topped up or stay intact while loan is slowly paid over a specified period of time. Hope this was clear.

I don't know where you've seen this before but they probably had the same idea in mind.

[bittraffic]

LOL
It doesnt makes sense at all.  
The loanee already have a stablecoin so why do he need to loan while he already have a stablecoin. It would only make the loanee more stupid than this lender. It would be make sense if then collateral are altcoins that are worth more than what he want to loan.

[alterra57]

LOL
It doesnt makes sense at all.  
The loanee already have a stablecoin so why do he need to loan while he already have a stablecoin. It would only make the loanee more stupid than this lender. It would be make sense if then collateral are altcoins that are worth more than what he want to loan.

https://www.thebalance.com/cash-secured-loans-315598

[DireWolfM14]

Crypto fund looking to lend stablecoins.

Collateral free for reputable accounts. Collateral free loans are given based on a series of factors such as:

a) Account activity.
b) Account reputation.
c) Current loan status. (Active loans or not)

I don't know if you are truly new here or not, but if so I suggest you spend a little time familiarizing yourself with the merit system and the trust system before offering non-collateralized loans.

Non reputable accounts have to have collateral to apply. Collateral provided must fulfill the following requirements:

a) 100% collateral. Example: If required loan is 100 USD, collateral must be 200 USD.
b) Collateral must be in the same stablecoin loan is given. No altcoins. USDT loan, USDT collateral. USDC loan, USDC collateral etc.
c) Other collateral can be used, things such as GPUs or other property which is valuable and easily verifiable are accepted. This is for European clients only and the asset must be worth at least 150% more than the required collateral.

No mention of escrow?  Do you expect members to send the collateral directly to you?  As a newbie you're going to have a hard time convincing people you're not here to scam them for their collateral.  Just a warning; some trusted members don't take too kindly to that sort of thing and you may end up getting red-tagged for it.  Even among the reputable lenders here who've been at it for a long time, only a few are trusted enough to hold collateral for their own loans.

And, as LoyceV mentioned, your collateral requirements are ridiculous.  First off, what you're asking for is 200% collateral, not 100%.  Most lenders here ask for about 120%.  Secondly, there's no point in a borrower taking your offer.  The purpose for a borrower taking a collateralized loan is because he's bullish on the coin he's holding but needs funds for something else.  For example if I was holding a bunch of XMR because I think it's going to pump sometime soon, but I need BTC to pay a bill, I could send the XMR to a trusted lender or escrow, borrow what I need, pay back as agreed and get my XMR back.  Borrowing the same currency only has disadvantages, and no advantages.

If you're careful and scrutinize your borrowers thoroughly you might be able to make some money on no-collateral loans, but I think you're collateralized loan offer needs some work.

[alterra57]

Crypto fund looking to lend stablecoins.

Collateral free for reputable accounts. Collateral free loans are given based on a series of factors such as:

a) Account activity.
b) Account reputation.
c) Current loan status. (Active loans or not)

I don't know if you are truly new here or not, but if so I suggest you spend a little time familiarizing yourself with the merit system and the trust system before offering non-collateralized loans.

Non reputable accounts have to have collateral to apply. Collateral provided must fulfill the following requirements:

a) 100% collateral. Example: If required loan is 100 USD, collateral must be 200 USD.
b) Collateral must be in the same stablecoin loan is given. No altcoins. USDT loan, USDT collateral. USDC loan, USDC collateral etc.
c) Other collateral can be used, things such as GPUs or other property which is valuable and easily verifiable are accepted. This is for European clients only and the asset must be worth at least 150% more than the required collateral.

No mention of escrow?  Do you expect members to send the collateral directly to you?  As a newbie you're going to have a hard time convincing people you're not here to scam them for their collateral.  Just a warning; some trusted members don't take too kindly to that sort of thing and you may end up getting red-tagged for it.  Even among the reputable lenders here who've been at it for a long time, only a few are trusted enough to hold collateral for their own loans.

And, as LoyceV mentioned, your collateral requirements are ridiculous.  First off, what you're asking for is 200% collateral, not 100%.  Most lenders here ask for about 120%.  Secondly, there's no point in a borrower taking your offer.  The purpose for a borrower taking a collateralized loan is because he's bullish on the coin he's holding but needs funds for something else.  For example if I was holding a bunch of XMR because I think it's going to pump sometime soon, but I need BTC to pay a bill, I could send the XMR to a trusted lender or escrow, borrow what I need, pay back as agreed and get my XMR back.  Borrowing the same currency only has disadvantages, and no advantages.

If you're careful and scrutinize your borrowers thoroughly you might be able to make some money on no-collateral loans, but I think you're collateralized loan offer needs some work.

Hi, thank you for the suggestions. Escrow is available and I will add it to the topic like I did with my other one here (https://bitcointalk.org/index.php?topic=5396027.0). I don't expect people to send me their money with no escrow so thank you for reminding me. I'm using localcryptos as escrow but I'm willing to go through any reputable member of the community.

As for the requirements, they will be edited in the very near future. I understand that as is, this isn't a working system. Thanks again DireWolf, I appreciate it.

[alterra57]

Ahm sorry, this make 0 sense, less than zero.

I don't know if you phrased your rules wrong or if you think the members here are stupid.

Send you 200$ to receive 100$, in the same currency? This is not a loan for me/us, this is a gift for you .

If I need 100, obviously I don't have 200, because if I had 200 I would not need 100. Get it?

Like I previously said, these type of loans are given to prevent business or individuals from going bankrupt. If you invest that money and lose it, what would work better for you, being able to pay it monthly in small increments or get a 1 million (example) dollar hit all at once?

Read here for more: https://www.thebalance.com/cash-secured-loans-315598

Topic will be edited, already have a plan in mind.

[TryNinja]

I had no idea why everyone was going so hard on you until I read the thread a second time and saw point b).

Why don't you also accept liquid trusted coins (BTC, ETH...) as collateral? The user keeps his $200 BTC, doesn't have to sell it (tax) and can use the stablecoin for a short period of time (i.e until he gets his job's pay).

[alterra57]

I had no idea why everyone was going so hard on you until I read the thread a second time and saw point b).

Why don't you also accept liquid trusted coins (BTC, ETH...) as collateral? The user keeps his $200 BTC, doesn't have to sell it (tax) and can use the stablecoin for a short period of time (i.e until he gets his job's pay).

Will do that, when I posted the topic I forgot all about Bitcoin not having too much of a price difference because of market conditions, thus affecting the collateral. It will be edited today with the new rules/requirements.

[alterra57]

Updated.

[alterra57]

First collateral-free loan ever was sent last Friday! We are officially in business baby!

[examplens]

First collateral-free loan ever was sent last Friday! We are officially in business baby!

show the clear evidence here, also your borrower should announce and confirm the loan. Otherwise, no one will believe you.

[alterra57]

First collateral-free loan ever was sent last Friday! We are officially in business baby!

show the clear evidence here, also your borrower should announce and confirm the loan. Otherwise, no one will believe you.

Yes sir! We did it through a PM and this topic didn't exist a week ago but here you go:

https://bitcointalk.org/index.php?topic=5402496.0

[condoras]

First collateral-free loan ever was sent last Friday! We are officially in business baby!

show the clear evidence here, also your borrower should announce and confirm the loan. Otherwise, no one will believe you.

Yes sir! We did it through a PM and this topic didn't exist a week ago but here you go:

https://bitcointalk.org/index.php?topic=5402496.0

I'm sorry that I will be the one to point this out, but just because you say it doesn't mean that's the truth. Plus, there is no reply from mnightwaffle to your post that confirms taking a loan from you. You will need, at least, the confirmation here from mnightwaffle or the PM's that prove your deal/ word.

[alterra57]

First collateral-free loan ever was sent last Friday! We are officially in business baby!

show the clear evidence here, also your borrower should announce and confirm the loan. Otherwise, no one will believe you.

Yes sir! We did it through a PM and this topic didn't exist a week ago but here you go:

https://bitcointalk.org/index.php?topic=5402496.0

I'm sorry that I will be the one to point this out, but just because you say it doesn't mean that's the truth. Plus, there is no reply from mnightwaffle to your post that confirms taking a loan from you. You will need, at least, the confirmation here from mnightwaffle or the PM's that prove your deal/ word.

Hey, I don't know how to make it so when you open the link it sends you to the reply but here's a screenshot:

https://imgur.com/a/0p9Xheh

[DireWolfM14]

First collateral-free loan ever was sent last Friday! We are officially in business baby!

show the clear evidence here, also your borrower should announce and confirm the loan. Otherwise, no one will believe you.

Yes sir! We did it through a PM and this topic didn't exist a week ago but here you go:

https://bitcointalk.org/index.php?topic=5402496.0

I'm sorry that I will be the one to point this out, but just because you say it doesn't mean that's the truth. Plus, there is no reply from mnightwaffle to your post that confirms taking a loan from you. You will need, at least, the confirmation here from mnightwaffle or the PM's that prove your deal/ word.

Hey, I don't know how to make it so when you open the link it sends you to the reply but here's a screenshot:

https://imgur.com/a/0p9Xheh

Let me help:

alterra57 first posted this in mnightwaffle's loan request thread:

I'm a new account but I would like to send this, can I do so?

But TriNinja beat him the punch and sent the funds before mnightwaffle could respond.  Mnightwaffle reopened his request as he needed money for car repairs, and later posted this:

~

Talked via PM

Received .0102

Owe
0.01224


Due next Thursday

That response makes it fairly clear that mnightwaffle did in fact get a loan form alterra57

[alterra57]

First collateral-free loan ever was sent last Friday! We are officially in business baby!

show the clear evidence here, also your borrower should announce and confirm the loan. Otherwise, no one will believe you.

Yes sir! We did it through a PM and this topic didn't exist a week ago but here you go:

https://bitcointalk.org/index.php?topic=5402496.0

I'm sorry that I will be the one to point this out, but just because you say it doesn't mean that's the truth. Plus, there is no reply from mnightwaffle to your post that confirms taking a loan from you. You will need, at least, the confirmation here from mnightwaffle or the PM's that prove your deal/ word.

Hey, I don't know how to make it so when you open the link it sends you to the reply but here's a screenshot:

https://imgur.com/a/0p9Xheh

Let me help:

alterra57 first posted this in mnightwaffle's loan request thread:

I'm a new account but I would like to send this, can I do so?

But TriNinja beat him the punch and sent the funds before mnightwaffle could respond.  Mnightwaffle reopened his request as he needed money for car repairs, and later posted this:

~

Talked via PM

Received .0102

Owe
0.01224


Due next Thursday

That response makes it fairly clear that mnightwaffle did in fact get a loan form alterra57

Thank you very much DireWolfM14, I appreciate it a lot.

[HedgeFx]

Hallo Alterra57,

As requested via PM , this is my loan application

Loan Amount: 150 Usdt
Loan Purpose: Personal
Loan Repay Amount: 172 Usdt
Loan Repay Date: June 30 or earlier
Type of Collateral: None
TRC20 - USDT address: TFqN1GmbXtQNZu1BsuhrExzpKLszXBfQ4U

[alterra57]

Hallo Alterra57,

As requested via PM , this is my loan application

Loan Amount: 150 Usdt
Loan Purpose: Personal
Loan Repay Amount: 172 Usdt
Loan Repay Date: June 30 or earlier
Type of Collateral: None
TRC20 - USDT address: TFqN1GmbXtQNZu1BsuhrExzpKLszXBfQ4U

Sent 150 USDT. TxID: a683dd6b1d9b887f804b6fa7fa9b9572bd26c122633481c841dacda1ce91a243

Please send back to (TRX nework): TPVwtc2ZEo35QE9MCUciKUqbSfCLUhWT6G