This loan is not secured. Those domains are not worth anything.
BLC - get your act together and stop misleading users here.
My assumption was that we can liquidate the domains at 1/3 of the value,
if weren't able to liquidate in case of a default, then we're still going to cover the losses of the investors. However, the feedback from the community has been pretty unanimous that our assumption about the possible liquidation price is wrong. Since this is the first time we accept domain names as collateral,
we're still working out the best way to valuate them. The loan was funded with 0.6 BTC, so if there is a default, then we'll cover the losses.
In either case, we always stand behind the decisions we make and we weren't going to let our investors incur a loss, even if we had made an error in judgment. This is why the community's feedback has been so instrumental to us.
Simple really just ask me, or someone else that knows about such things, don't rely on these valuation websites, there a nonsense.
Take a look at sites such as flippa that will give you an idea at least, but even some of the sales on there are ridiculous.
Cheers
Mark
