Looking for $1000 loan with $1800 in collateral

[CoinBingo]

Hi Bitcointalk, it's been many years since I last visited it, due to personal circumstances I am in need of $1000, preferably in ETH. Will pay back with interest (name your rate) 25th of January 2023.

I have about $1800 collateral locked in an Ethereum smart contract of which I'll transfer the ownership to you before you send me the funds. I am a developer (employee) of a protocol on Ethereum with $15m+ in TVL and 2+ year operating history, will do all the verification I can with you in private.

edit: enough tokens will be unlocked by the 25th of January to cover the loan. The contract only has 1.5 month of vesting left.

[AbuBhakar]

Is transferring of ownership on lock funds on smart contract is possible? Afaik the only way to transfer ownership is to give the wallet keys alone since you can’t change the wallet address for the funds stake on smart contract.

This is too risky for the lender side and the only accepted collateral here are tokens with huge trading volume for a less volatility on price.

Edit.
 

Your account last post was 2014. Don’t waste your time here or else provide valid collateral.

[CoinBingo]

Is transferring of ownership on lock funds on smart contract is possible? Afaik the only way to transfer ownership is to give the wallet keys alone since you can’t change the wallet address for the funds stake on smart contract.

This is too risky for the lender side and the only accepted collateral here are tokens with huge trading volume for a less volatility on price.

The tokens are locked with time not ownership, the tokens vest daily and the potential lender can see that onchain. The `transferOwnership()` is accessible with my wallet and I am willing to transfer the ownership to a reputable lender as collateral.

It is a smaller cap token but with a 2+ year operating history backed by a well funded company (2017 ICO company).

[AbuBhakar]

Is transferring of ownership on lock funds on smart contract is possible? Afaik the only way to transfer ownership is to give the wallet keys alone since you can’t change the wallet address for the funds stake on smart contract.

This is too risky for the lender side and the only accepted collateral here are tokens with huge trading volume for a less volatility on price.

The tokens are locked with time not ownership, the tokens vest daily and the potential lender can see that onchain. The `transferOwnership()` is accessible with my wallet and I am willing to transfer the ownership to a reputable lender as collateral.

It is a smaller cap token but with a 2+ year operating history backed by a well funded company (2017 ICO company).

How can you guaranteed that once you transfer ownership to the new owner that you will lost access already on it. Not all lenders has the capability to understand how smart contract works so you should explain it well in layman terms.

I really doubt that someone will accept your deal due to the complexity of your collateral. GL

[CoinBingo]

Is transferring of ownership on lock funds on smart contract is possible? Afaik the only way to transfer ownership is to give the wallet keys alone since you can’t change the wallet address for the funds stake on smart contract.

This is too risky for the lender side and the only accepted collateral here are tokens with huge trading volume for a less volatility on price.

The tokens are locked with time not ownership, the tokens vest daily and the potential lender can see that onchain. The `transferOwnership()` is accessible with my wallet and I am willing to transfer the ownership to a reputable lender as collateral.

It is a smaller cap token but with a 2+ year operating history backed by a well funded company (2017 ICO company).

How can you guaranteed that once you transfer ownership to the new owner that you will lost access already on it. Not all lenders has the capability to understand how smart contract works so you should explain it well in layman terms.

I really doubt that someone will accept your deal due to the complexity of your collateral. GL

All of this will be verifiable onchain by the lender. If a lender is tech savvy enough they can make a profit by loaning to me, if they are not willing to loan me, so be it, nobody is required to accept what I have to offer as collateral. I am not sure what your posts are adding of value here?

[condoras]

~snip~

Locked tokens of any kind, are not considered valid collateral. So unless you offer something valid, don't expect to get any kind of loan here. Simple as that.

[CoinBingo]

~snip~

Locked tokens of any kind, are not considered valid collateral. So unless you offer something valid, don't expect to get any kind of loan here. Simple as that.

Enough tokens will be unlocked before my repayment date (the full $1800 will unlocked mid February) so I'd argue that it could be considered valid collateral since by the time my payment comes due all tokens will be accessible to the lender. There is 2 years of onchain proof that the tokens vest at an predictable rate.

[condoras]

~snip~

Locked tokens of any kind, are not considered valid collateral. So unless you offer something valid, don't expect to get any kind of loan here. Simple as that.

Enough tokens will be unlocked before my repayment date so I'd argue that it could be considered valid collateral since by the time my payment comes due all tokens will be accessible to the lender. There is 2 years of onchain proof that the tokens vest at an predictable rate.

You can argue as much as you want but the fact is that is not collateral and you won't get a loan from anyone. So either lock your thread and look elsewhere or wait until your tokens are unlocked.

[CoinBingo]

~snip~

Locked tokens of any kind, are not considered valid collateral. So unless you offer something valid, don't expect to get any kind of loan here. Simple as that.

Enough tokens will be unlocked before my repayment date so I'd argue that it could be considered valid collateral since by the time my payment comes due all tokens will be accessible to the lender. There is 2 years of onchain proof that the tokens vest at an predictable rate.

You can argue as much as you want but the fact is that is not collateral and you won't get a loan from anyone. So either lock your thread and look elsewhere or wait until your tokens are unlocked.

I am sorry, I did not know that you speak for everyone in Bitcointalk. Just because something isn't valid collateral to you doesn't make it not collateral to someone else.

edit: to argue with you further, per the "valid collateral" list, my collateral definitely falls under the following:
- The best collateral is another crypto-currency, such as Ethereum (also written as ETH).  Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.

It is both a digital ware (ie. smart contract that I cannot recover that gives you the coins per a hardcoded vesting rate) and a coin that is traded on multiple exchanges.

---

For any potential lenders out there: if my tokens were unlocked and available to me today I would not need this loan.

We're talking about an immutable smart contract that gives the lender tokens before my payment is due. There's no need to trust my word for it. Ownership will be transferred to the lender and he or she can do what he wants with it.

It is not a "promise" of me giving you something, you will have full ownership beforehand and nothing I can do to stop that. Unless I am able to roll back the Ethereum chain of course.

[condoras]

I am sorry, I did not know that you speak for everyone in Bitcointalk. Just because something isn't valid collateral to you doesn't make it not collateral to someone else.

edit: to argue with you further, per the "valid collateral" list, my collateral definitely falls under the following:
- The best collateral is another crypto-currency, such as Ethereum (also written as ETH).  Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.

It is both a digital ware (ie. smart contract that I cannot recover that gives you the coins per a hardcoded vesting rate) and a coin that is traded on multiple exchanges.

Strike one, your token isn't a coin (read and learn the differences, then talk). Strike two, isn't tradable in multiple exchanges. I doubt that is tradable anywhere. Strike three, smart contracts are not digital wares/ goods.
It's pretty obvious that you are desperate to get rid of this crap token, so you interpret the words as you like/ fit you. Unfortunately for you, you are not the first noob that tries this and fails miserably. Anyways, as I said earlier, you won't get a single satoshi without valid collateral and your token isn't among them. Cheerio!!!

[CoinBingo]

I am sorry, I did not know that you speak for everyone in Bitcointalk. Just because something isn't valid collateral to you doesn't make it not collateral to someone else.

edit: to argue with you further, per the "valid collateral" list, my collateral definitely falls under the following:
- The best collateral is another crypto-currency, such as Ethereum (also written as ETH).  Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.

It is both a digital ware (ie. smart contract that I cannot recover that gives you the coins per a hardcoded vesting rate) and a coin that is traded on multiple exchanges.

Strike one, your token isn't a coin (read and learn the differences, then talk). Strike two, isn't tradable in multiple exchanges. I doubt that is tradable anywhere. Strike three, smart contracts are not digital wares/ goods.
It's pretty obvious that you are desperate to get rid of this crap token, so you interpret the words as you like/ fit you. Unfortunately for you, you are not the first noob that tries this and fails miserably. Anyways, as I said earlier, you won't get a single satoshi without valid collateral and your token isn't among them. Cheerio!!!

Fine, it's an ERC20 token, not a "coin". It is however a cryptocurrency...

Dude, I literally sent you the token via DM earlier, it trades on Bittrex, HitBTC and Balancer on 3 networks (Ethereum, Polygon and Fantom). There is more than enough liquidity to support a $1000 trade. It has 2+ years of trading history and is created by a company that did a $50M+ ICO. I understand you do not want to lend me, but accusing me of "getting rid of crap" is a bit far... Jeez. Yes, it's not a super well known by the general public, doesn't make it a scam. It is unfortunately the only thing I have in life right now apart from my phone and laptop both which I need to do my job so I can pay back the loan as promised.

I am willing to completely dox myself, sign any onchain addresses, send an email from my company email address, send my payslips AND on top of that provide the only thing I have as collateral in hopes to attract a lender so I can get out of a shitty situation I am in right now. You falsely accusing me just because this does not suit you is not appreciated. I am happy to take a loan without this token as collateral too, I can offer my time as a software engineer as collateral instead.

Calling me a "noob" just because you don't like what I have to offer is uncalled for. Unfortunately I never spent much time on Bitcointalk apart from a failed project launch 8 years ago (that I fully refunded to all users, by the way, at my personal expense...).

[malcovi2]

I am sorry, I did not know that you speak for everyone in Bitcointalk. Just because something isn't valid collateral to you doesn't make it not collateral to someone else.

edit: to argue with you further, per the "valid collateral" list, my collateral definitely falls under the following:
- The best collateral is another crypto-currency, such as Ethereum (also written as ETH).  Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.

It is both a digital ware (ie. smart contract that I cannot recover that gives you the coins per a hardcoded vesting rate) and a coin that is traded on multiple exchanges.

Strike one, your token isn't a coin (read and learn the differences, then talk). Strike two, isn't tradable in multiple exchanges. I doubt that is tradable anywhere. Strike three, smart contracts are not digital wares/ goods.
It's pretty obvious that you are desperate to get rid of this crap token, so you interpret the words as you like/ fit you. Unfortunately for you, you are not the first noob that tries this and fails miserably. Anyways, as I said earlier, you won't get a single satoshi without valid collateral and your token isn't among them. Cheerio!!!

Fine, it's an ERC20 token, not a "coin". It is however a cryptocurrency...

Dude, I literally sent you the token via DM earlier, it trades on Bittrex, HitBTC and Balancer on 3 networks (Ethereum, Polygon and Fantom). There is more than enough liquidity to support a $1000 trade. It has 2+ years of trading history and is created by a company that did a $50M+ ICO. I understand you do not want to lend me, but accusing me of "getting rid of crap" is a bit far... Jeez. Yes, it's not a super well known by the general public, doesn't make it a scam. It is unfortunately the only thing I have in life right now apart from my phone and laptop both which I need to do my job so I can pay back the loan as promised.

I am willing to completely dox myself, sign any onchain addresses, send an email from my company email address, send my payslips AND on top of that provide the only thing I have as collateral in hopes to attract a lender so I can get out of a shitty situation I am in right now. You falsely accusing me just because this does not suit you is not appreciated. I am happy to take a loan without this token as collateral too, I can offer my time as a software engineer as collateral instead.

Calling me a "noob" just because you don't like what I have to offer is uncalled for. Unfortunately I never spent much time on Bitcointalk apart from a failed project launch 8 years ago (that I fully refunded to all users, by the way, at my personal expense...).

If your collateral is so good to be true, lenders would be already drooling all over it but sadly it isnt.

You can change the ownership whenever you want plus probably the tokens value can crash the price to oblivion and this is the reason why you have to go the trouble doing mental gymnastics to explain how the token did a $50m + ICO rather than telling the tokens name.

[TryNinja]

Could you share the smartcontract address and which project is this which you are part of? I would like to check.

Keep in mind that no one will accept your collateral if it's in form of a random ERC20 token with no volume or liquidity whatsoever. Or even if it has liquidity, it could have a sharp drop before the smartcontract unlocks it.

[shasan]

if my tokens were unlocked and available to me today I would not need this loan.

If you really need the fund then you would still take a loan instead of selling your token. Because you would be able to earn from the rest of your fund also more important thing is that you may think the value of the collateral may increase. Why do people give collateral to their land/building and take a loan instead of selling it? It is because they do not want to lose the property.

[DarkStar_]

Could you share the smartcontract address and which project is this which you are part of? I would like to check.

Keep in mind that no one will accept your collateral if it's in form of a random ERC20 token with no volume or liquidity whatsoever. Or even if it has liquidity, it could have a sharp drop before the smartcontract unlocks it.

They'll probably tell you if you PM them. From what I've seen, the project does seem to have some legitimacy, and has a decent amount of liquidity/volume relative to the project's size. The gamble for a lender would essentially just be whether or not the project rugpulls or has some kind of incident that crashes the price before the loan is repaid. I'd be tempted to fund the loan but I have no confidence in my smart contract verification skills  

~snip~

Locked tokens of any kind, are not considered valid collateral. So unless you offer something valid, don't expect to get any kind of loan here. Simple as that.

I'd argue that a lot of people would have been willing to take stETH as collateral (pre-ETH merge), which was effectively locked ETH. If someone had a very popular token that was locked via a verifiable smart contract, I'd definitely be willing to consider taking that as collateral too.

[condoras]

Fine, it's an ERC20 token, not a "coin". It is however a cryptocurrency...

Dude, I literally sent you the token via DM earlier, it trades on Bittrex, HitBTC and Balancer on 3 networks (Ethereum, Polygon and Fantom). There is more than enough liquidity to support a $1000 trade. It has 2+ years of trading history and is created by a company that did a $50M+ ICO. I understand you do not want to lend me, but accusing me of "getting rid of crap" is a bit far... Jeez. Yes, it's not a super well known by the general public, doesn't make it a scam. It is unfortunately the only thing I have in life right now apart from my phone and laptop both which I need to do my job so I can pay back the loan as promised.

I am willing to completely dox myself, sign any onchain addresses, send an email from my company email address, send my payslips AND on top of that provide the only thing I have as collateral in hopes to attract a lender so I can get out of a shitty situation I am in right now. You falsely accusing me just because this does not suit you is not appreciated. I am happy to take a loan without this token as collateral too, I can offer my time as a software engineer as collateral instead.

Calling me a "noob" just because you don't like what I have to offer is uncalled for. Unfortunately I never spent much time on Bitcointalk apart from a failed project launch 8 years ago (that I fully refunded to all users, by the way, at my personal expense...).

I use the "noob" word not based on your knowledge and skills but because a ton of newbies pop up in the Lending section and ask for a loan without valid collateral. Neither said that this is a scam. The main problems is that 1- they are locked and 2- if the price drops, how you will put extra to cover the lender's loss? Dox yourself won't help either because if you don't have anything, why does someone "hunt"/ sue you? He will pay even more for getting back what? A laptop and a phone?
I'm sorry that I'm the one to tell you the bad news and sound like the worse guy around but that's the situation here. Maybe if you were using your skills as a freelancer, you have more luck getting this amount that you ask.

I'd argue that a lot of people would have been willing to take stETH as collateral (pre-ETH merge), which was effectively locked ETH. If someone had a very popular token that was locked via a verifiable smart contract, I'd definitely be willing to consider taking that as collateral too.

As you say, even if the token was very popular (which isn't), you will consider it. If the collateral was ETH itself, you won't.

[DaveF]

edit: enough tokens will be unlocked by the 25th of January to cover the loan. The contract only has 1.5 month of vesting left.

Unless I am missing something that is the issue.
On Jan 25th there will tokens unlocked. The ones you are giving as collateral don't unlock until mid Feb.
So if a lot unlock and people dump a lot and the price drops a couple of weeks later when the collateral becomes available someone is holding tokens worth less then $1000

Not saying it will happen, just that it CAN happen. Which is why you are getting resistance. Collateral, more or less is supposed to be liquid and available to sell at any moment.

Also, since you are not posting the token info in public it makes it look even more sketchy.

Just my view, take it as you want.

-Dave