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Author Topic: (FUNDED+Repaid)Looking for 100-105 BTC loan for 7970 Purchase  (Read 1485 times)
slider1978
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February 11, 2012, 10:51:20 PM
 #1

I have an available spot in my mining farm (currently around 2.3GH) and want to add a 7970. I'm looking for one or more investors to fund the loan. Ideally I'd like a single investor that I can direct the card to mine for until the debt is re-paid.

Since this would be somewhat longer term I'm willing to work with the lender as regards to BTC price fluctuations to ensure that the principal + interest is re-paid.

Anyone that is interested please PM me and we can hash out the details.
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PatrickHarnett
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February 12, 2012, 12:22:31 AM
 #2

Interested (have another loan like this in action).  However, I have coins tied up with other loans atm, so would need to be tomorrow before I could advance.

Reflecting a discussion from earlier, a progressive (pay-as-you-go) loan could attract a lower interest rate.  How long do you think to pay back?  (that will affect the rate)
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February 12, 2012, 12:27:58 AM
 #3

I can only send a small loan to contribute to a large request however this is interest bearing.If interested. I can understand if a small contrubuting loan isn't suitable for your needs.

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February 12, 2012, 12:29:52 AM
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I can only send a small loan to contribute to a large request however this is interest bearing.If interested. I can understand if a small contrubuting loan isn't suitable for your needs.

Hi Film,  for the bitlane loan (filled a short while ago) we arranged three lenders to take up shares.  That might suit, but it would also need to work for Slider.
slider1978
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February 12, 2012, 01:01:47 AM
 #5

The XFX card that I want to get is currently out of stock at newegg so I wouldn't be looking to get the loan until it is available.

Speaking with miners that are already running 7970's and using the bitcoin mining comp I'm guessing around 650-680 MH with a payout at current difficulty of around 3.15 BTC per 7 day period.

Using that info comes to around 33-34 weeks to payoff the principal and then additional weeks which would be determined based on the rate using that single card.

I'd also be willing to discuss pointing my entire mining operation towards the lender(s) for a quicker payoff and hence a lower rate.

I'm not opposed to multiple lenders but if there are than I would most likely change the payoff to be a set amount every week split between the lenders. Maybe that's a better way to go.

What do you think of 5 BTC per week for 25 weeks?


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February 12, 2012, 01:11:42 AM
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I can only send a small loan to contribute to a large request however this is interest bearing.If interested. I can understand if a small contrubuting loan isn't suitable for your needs.

Hi Film,  for the bitlane loan (filled a short while ago) we arranged three lenders to take up shares.  That might suit, but it would also need to work for Slider.

Good to see you guys have sorted it.

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slider1978
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February 12, 2012, 07:36:39 PM
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bump for any interest.
PatrickHarnett
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February 12, 2012, 07:46:23 PM
 #8

Don't worry - we're still here.  You said the GPU was out of stock so I assumed there was a pause in the plan.

5 coin for 25 weeks works out a little less than I would normally be looking for.  Would a higher weekly payment work, or a slightly longer period work?
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February 12, 2012, 08:08:10 PM
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Yes the card is out of stock so there will be a delay until I would need the BTC, but given the demand I plan on buying it as soon as I get the in stock notification and want to have my funding lined up.

I could do a slightly higher weekly payment, but would prefer a longer period. What did you have in mind?

Also I would like the option to payoff the loan early, I have BTC invested in other ventures and if something would change with them I would have coin available. Any early payoff would be negotiated before hand with the lender.
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February 12, 2012, 08:20:43 PM
 #10

To keep it simple, I could do it as a declining principal loan at 2.3% per week.  That way if you pay early it's all known up front.  At five coins per week it would take 27 weeks (works out to 10% monthly).
slider1978
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February 13, 2012, 12:21:24 AM
 #11

To keep it simple, I could do it as a declining principal loan at 2.3% per week.  That way if you pay early it's all known up front.  At five coins per week it would take 27 weeks (works out to 10% monthly).

Yes I can agree to this. If it works for you I'd like to have you fund this loan tomorrow 2/13/12 so payments will be due every Monday starting on 2/20/12


PM me for any id verification you need. I also have BTC on deposit with imsaguy and am willing to instruct him to place a "lien" on them payable to you.


**edited for spelling  Cheesy
PatrickHarnett
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February 13, 2012, 12:29:38 AM
 #12

lien

pm'd
slider1978
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February 13, 2012, 05:08:29 AM
 #13

This loan has been funded and payment terms have been reached.

5 BTC per week for 27 weeks, re-payment to start 2/20/12

Thanks PatrickHarnett
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August 20, 2012, 01:11:24 PM
 #14

Update

This loan has been fully repaid on schedule.
PatrickHarnett
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August 21, 2012, 08:07:16 PM
 #15

Update

This loan has been fully repaid on schedule.

Confirmed.
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