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Bitcoin Forum > Economy > Marketplace > Lending > Need $1000 in BTC loan for car transport URGENT
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Explodicle
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January 17, 2012, 04:14:33 PM
 #21
When you pay back $1500 in BTC, is that based on the exchange rate when you are lent the coins, or when you return them?
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celcoid (OP)
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January 17, 2012, 11:18:41 PM
 #22
Quote from: copumpkin on January 17, 2012, 03:53:33 PM
Quote from: celcoid on January 17, 2012, 11:14:12 AM
She will sell it if I don't come up with the money by Friday. If there was someone with a car dolly near buy that would be great. The car has been garage kept also.

I think it would help if you addressed P4man's question. Is your mom just "strange" or super impatient or in a huge rush to get cash for some reason, or does she just not expect you to come through?

No my mom needs money to fix her Buick that just broke, if I get the car then she is going to sell some rings an gold brackets.
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January 17, 2012, 11:19:55 PM
 #23
Quote from: Explodicle on January 17, 2012, 04:14:33 PM
When you pay back $1500 in BTC, is that based on the exchange rate when you are lent the coins, or when you return them?

It will be as follows if you give me 10BTC then you will get 15BTC
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January 17, 2012, 11:36:23 PM
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OK so you really need about $1000.  Let's use the current price of about $5 per BTC so you would need 200 BTC.

You are promising to pay back 300 BTC in two months.  Let's assume for the momement in two months BTC just go up to $7.50 per BTC:

300 x $7.50 = $2,250.

And they could be higher by then, right?

From what I can tell you are not a miner so you would have to buy them on the open market, right?

Edit:  best course of action is to get one of your friends or family to loan you the $1000.  They may do if for free or would be happy to get even 10% APR on their money, right?
Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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January 18, 2012, 12:43:25 AM
 #25
Quote from: BurtWagner on January 17, 2012, 11:36:23 PM
OK so you really need about $1000.  Let's use the current price of about $5 per BTC so you would need 200 BTC.

You are promising to pay back 300 BTC in two months.  Let's assume for the momement in two months BTC just go up to $7.50 per BTC:

300 x $7.50 = $2,250.

And they could be higher by then, right?

From what I can tell you are not a miner so you would have to buy them on the open market, right?

Edit:  best course of action is to get one of your friends or family to loan you the $1000.  They may do if for free or would be happy to get even 10% APR on their money, right?

I have about 2Ghash :/ but thats not alot
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January 18, 2012, 06:29:11 AM
 #26
So at the current difficulty you are making about 1.5 BTC per day.  So it will take about 200 days to make 300 BTC assuming the difficulty does not go up.
Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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