CLOSED

[pandher]

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[1715002842]

1715002842

[Killerloop]

I am in no way needy of borrowing money

Its just that i need immediate money and dont want to sell some of my coins to buy them back later at higher prices. Happened once and i lost a LOT

I need 5 BTC and will provide 5 BTC worth Simcoin as collateral which will be held by a trusted escrow (Simcoins are more important for me)

Tell me if anyone is interested

I also have a NEM stake which i can sell for 2.5 BTC, but i dont have a token so cannot trade it on NXT AE. I will send the NEM if token issuance restarts or after launch

Can you quote an exchange where SimCoin is traded? Also at least the equivalent of 6 BTC in SimCoin will be required plus enough to cover interest.

[Lohoris]

I am in no way needy of borrowing money

Its just that i need immediate money

So you want to borrow money.

and dont want to sell some of my coins to buy them back later at higher prices. Happened once and i lost a LOT

So what happens if the price rises?
You pay back the debt using your money?
Well, in that case you can use your money in the first place.

- OR - you plan not to pay back if price rises, whining about it and using it as an excuse.

[Killerloop]

So what happens if the price rises?
You pay back the debt using your money?

Provided collateral WILL be 120% of principal amount + interest + escrow fees (if any). If SimCoin loses value up to estabilished threshold in the chosen exchange collateral will immediately be sold and the loan will end.

Anyone not accepting these simple rules should be marked as scammer and ignored, as he is willing to put the lender at risk to offset his own.

[pandher]

Lets leave it guys, seems to be too much of a hassle, will sell some XMR instead

Thanks for replies

[Lohoris]

Provided collateral WILL be 120% of principal amount + interest + escrow fees (if any). If SimCoin loses value up to estabilished threshold in the chosen exchange collateral will immediately be sold and the loan will end.

Anyone not accepting these simple rules should be marked as scammer and ignored, as he is willing to put the lender at risk to offset his own.

This makes sense for a good collateral, but a random shitcoin isn't a good collateral by any mean: the pseudo-exchange trading it might easily go down, barring you from cashing out while the "coin"'s value collapses.

Not an unlikely scenario, hence either that collateral is much much higher than the sum itself (say, 350%? 1000%?) or I wouldn't advise to accept this offer.