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Author Topic: [LOAN REQUEST] Need $*** USD in BTC - 1% Daily Interest [CLOSED]  (Read 1234 times)
foggyb
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January 18, 2012, 11:57:44 PM
 #1

Need a loan of $700 USD worth of BTC for a few days. I will be exchanging this amount of cash for BTC, but since it is not available to me yet, I want to protect myself from large price increases by taking a loan. The terms would be:

 - 5-8 days loan of $700 in BTC (regardless of exchange rate)
 - I am insuring myself against price increase by locking in the USD exchange
 - Loan re-payment will be in BTC, but locked to USD rate at time of loan.
 - The interest rate I will pay is 1% (of BTC principal) non-compounded per day.
 -  i need flexibility to repay the loan at any time within the range stated.

If you are able to meet my terms, please PM me.

Thanks.

foggyb



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farfiman
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January 19, 2012, 08:12:09 AM
 #2

Need a loan of $700 USD worth of BTC for a few days. I will be exchanging this amount of cash for BTC, but since it is not available to me yet, I want to protect myself from large price increases by taking a loan. The terms would be:

 - 5-8 days loan of $700 in BTC (regardless of exchange rate)
 - The interest rate I will pay is 0.8% per day.
 -  i need flexibility to repay the loan at any time within the range stated.

If you are able to meet my terms, please PM me.

Thanks.

foggyb


1 person loan or multiple smaller ones ok?

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foggyb
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January 19, 2012, 05:10:49 PM
 #3

I would prefer a single lender, but I have not had any offers yet.

PM me with details, please.
chungenhung
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January 19, 2012, 10:19:27 PM
 #4

any reps?
PM me.

Trading MtGox USD for Dwolla/ACH deposit/Chase cash deposit
https://bitcointalk.org/index.php?topic=90115.0
Buy/Sell Call/Put Bitcoin options https://bitcointalk.org/index.php?topic=99853.0
BurtW
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January 19, 2012, 11:41:20 PM
 #5

I think the difficulty is that this is a USD denominated loan so you may have a tough time getting someone to bite.

As I understand it if BTC prices go down you would pay me back more BTC than I gave you but if prices go up I would get back less BTC than I gave you.  If I do BTC denominated loans then I always get back more BTC when repaid.

Or, am I missing something here?

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foggyb
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January 20, 2012, 12:07:07 AM
 #6

Yes, you're right.

I was thinking we have enough bears on this board that someone would bite.  Wink

I don't need the BTC loan, am merely trying to lock in an exchange rate. If no one is willing to loan the $700 & BTC exchange stays stable, then I'm happy too.
brendio
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January 20, 2012, 01:27:36 AM
 #7

Yes, you're right.

I was thinking we have enough bears on this board that someone would bite.  Wink

I don't need the BTC loan, am merely trying to lock in an exchange rate. If no one is willing to loan the $700 & BTC exchange stays stable, then I'm happy too.

If that's what you're after, I'll offer you 112 $6.25 call options expiring in 7 days for a cost of 12 BTC. Exercisable with a Mt Gox USD voucher.

Alternatively, a CFD (contract for difference) at a cost of carry of 1% per day, payable and settled in BTC.

(My call option offer is open so long as the Gox price stays below $6.38.)

This all assumes you have some BTC available to pay the premiums.

foggyb
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January 20, 2012, 05:24:24 PM
 #8

Still looking for a lender. No solid offers yet.
wachtwoord
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January 20, 2012, 05:58:15 PM
 #9

Yes, you're right.

I was thinking we have enough bears on this board that someone would bite.  Wink

I don't need the BTC loan, am merely trying to lock in an exchange rate. If no one is willing to loan the $700 & BTC exchange stays stable, then I'm happy too.

If that's what you're after, I'll offer you 112 $6.25 call options expiring in 7 days for a cost of 12 BTC. Exercisable with a Mt Gox USD voucher.

Alternatively, a CFD (contract for difference) at a cost of carry of 1% per day, payable and settled in BTC.

(My call option offer is open so long as the Gox price stays below $6.38.)

This all assumes you have some BTC available to pay the premiums.

LOl, option market emerging. I should start a service but it would be illegal as hell .....

copumpkin
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January 20, 2012, 06:14:01 PM
 #10

Yes, you're right.

I was thinking we have enough bears on this board that someone would bite.  Wink

I don't need the BTC loan, am merely trying to lock in an exchange rate. If no one is willing to loan the $700 & BTC exchange stays stable, then I'm happy too.

If that's what you're after, I'll offer you 112 $6.25 call options expiring in 7 days for a cost of 12 BTC. Exercisable with a Mt Gox USD voucher.

Alternatively, a CFD (contract for difference) at a cost of carry of 1% per day, payable and settled in BTC.

(My call option offer is open so long as the Gox price stays below $6.38.)

This all assumes you have some BTC available to pay the premiums.

LOl, option market emerging. I should start a service but it would be illegal as hell .....

You can already buy options at http://polimedia.us/bitcoin/options.php. No selling, unfortunately, except for ones you bought from the guy Smiley
brendio
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January 21, 2012, 03:40:35 AM
 #11

Yes, you're right.

I was thinking we have enough bears on this board that someone would bite.  Wink

I don't need the BTC loan, am merely trying to lock in an exchange rate. If no one is willing to loan the $700 & BTC exchange stays stable, then I'm happy too.

If that's what you're after, I'll offer you 112 $6.25 call options expiring in 7 days for a cost of 12 BTC. Exercisable with a Mt Gox USD voucher.

Alternatively, a CFD (contract for difference) at a cost of carry of 1% per day, payable and settled in BTC.

(My call option offer is open so long as the Gox price stays below $6.38.)

This all assumes you have some BTC available to pay the premiums.

LOl, option market emerging. I should start a service but it would be illegal as hell .....

You can already buy options at http://polimedia.us/bitcoin/options.php. No selling, unfortunately, except for ones you bought from the guy Smiley

I really miss bitoption. They still hve some of my coins too.  Angry

foggyb
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January 21, 2012, 06:41:31 PM
 #12

I got my loan.

Brendio if you see this, please confirm that we have canceled our CFD arrangement.
brendio
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January 22, 2012, 04:19:44 AM
 #13

I got my loan.

Brendio if you see this, please confirm that we have canceled our CFD arrangement.


Confirmed.

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