[REQUEST] 1.72 btc loan required, have 1.62 collateral 10%

[MrWDunne]

I need a loan of 1.72btc, for a one month period. Will give 1.62 worth of collateral to an escrow. I will pay 10% interest over the month.

It should be paid back in no more than a week. Interest would still be 4% though. Just giving myself a month to be safe.

I have some reputation.

Collateral is shares, valuation at latest trade price.

[deadley]

Which altcoins you have for collateral.

I will give you 1.5 BTC loan for 1.62 BTC collateral if altcoin is stable.

[MrWDunne]

Which altcoins you have for collateral.

I will give you 1.5 BTC loan for 1.62 BTC collateral if altcoin is stable.

Its not an altcoin

And I need specifically 1.72 btc

[azrin619]

What collateral are we talking about?

[MrWDunne]

What collateral are we talking about?

A number of shares on Havelock

[MrWDunne]

Bump, needed moderately urgently.

[deadley]

Which altcoins you have for collateral.

I will give you 1.5 BTC loan for 1.62 BTC collateral if altcoin is stable.

Its not an altcoin

And I need specifically 1.72 btc

Then sorry I can't give loan with shares. Because I really don't know how you will transfer that shares to me or escrow.

[monbux]

Which altcoins you have for collateral.

I will give you 1.5 BTC loan for 1.62 BTC collateral if altcoin is stable.

Its not an altcoin

And I need specifically 1.72 btc

Then sorry I can't give loan with shares. Because I really don't know how you will transfer that shares to me or escrow.

The shares are transferred are transferred through havelock, to the email address you registered your havelock account with.
I believe there is no way to reverse the transaction.

[MrWDunne]

Which altcoins you have for collateral.

I will give you 1.5 BTC loan for 1.62 BTC collateral if altcoin is stable.

Its not an altcoin

And I need specifically 1.72 btc

Then sorry I can't give loan with shares. Because I really don't know how you will transfer that shares to me or escrow.

The shares are transferred are transferred through havelock, to the email address you registered your havelock account with.
I believe there is no way to reverse the transaction.

Correct, although I would prefer to transfer them to escrow!

[Killerloop]

Correct, although I would prefer to transfer them to escrow!

Don't worry man, you offered around 94% instead of the expected 120% ---> no one will ever fund this.

[MrWDunne]

Correct, although I would prefer to transfer them to escrow!

Don't worry man, you offered around 94% instead of the expected 120% ---> no one will ever fund this.

I also have a good reputation, I wouldn't jump to conclusions.

Not sure why 120% would ever be necessary. I might however be able to push it to 98% if whomever does the loan accepts dogecoin.

[Blazed]

Well I am in Chicago for the conference so can't not fund anything until tomorrow.

[MrWDunne]

Well I am in Chicago for the conference so can't not fund anything until tomorrow.

Tomorrow would be fine for me if you are willing to do so.

Its really needed prior to Monday.

[Blazed]

Message me what sorta shares you got, and we can discuss.

[smooth]

I have done loans collateralized by crypto stocks but they must be over collateralized (value of collateral exceeds the value of the loan).

You don't seem to be in a position to do that so I won't be able to work with you as described.

[smooth]

Correct, although I would prefer to transfer them to escrow!

Don't worry man, you offered around 94% instead of the expected 120% ---> no one will ever fund this.

I also have a good reputation, I wouldn't jump to conclusions.

Not sure why 120% would ever be necessary. I might however be able to push it to 98% if whomever does the loan accepts dogecoin.

120% is necessary because:

1. Anything less than 100% is a non-starter if you don't have an amazing reputation (and maybe even if you do since accounts are hacked or sold). It just because a way for a scammer to sell his collateral at more than face value and then disappear.

2. The value of the collateral may well drop before the loan is paid off, resulting in a situation much like #1. Most of these sorts of assets are highly volatile and/or illiquid.

You won't get anywhere with less than 100% collateral dealing with the experienced lenders but you might always find someone who hasn't been scammed yet and is working on his first.

[Killerloop]

You won't get anywhere with less than 120% collateral dealing with the experienced lenders but you might always find someone who hasn't been scammed yet and is working on his first gamble.

Fixed for you 

[smooth]

You won't get anywhere with less than 120% collateral dealing with the experienced lenders but you might always find someone who hasn't been scammed yet and is working on his first gamble.

Fixed for you 

I meant working on his first time getting scammed, but yes its a gamble too

[MrWDunne]

Correct, although I would prefer to transfer them to escrow!

Don't worry man, you offered around 94% instead of the expected 120% ---> no one will ever fund this.

I also have a good reputation, I wouldn't jump to conclusions.

Not sure why 120% would ever be necessary. I might however be able to push it to 98% if whomever does the loan accepts dogecoin.

120% is necessary because:

1. Anything less than 100% is a non-starter if you don't have an amazing reputation (and maybe even if you do since accounts are hacked or sold). It just because a way for a scammer to sell his collateral at more than face value and then disappear.

2. The value of the collateral may well drop before the loan is paid off, resulting in a situation much like #1. Most of these sorts of assets are highly volatile and/or illiquid.

You won't get anywhere with less than 100% collateral dealing with the experienced lenders but you might always find someone who hasn't been scammed yet and is working on his first.

1> My reputation is pretty good, and it is worth a lot of money as I plan to launch an exchange. Wouldn't be very helpful to tarnish it. I can prove it is not hacked as I can sign a message using my PGP key. (Associated with my WoT handle).


2> If I thought the value of the collateral was going to go down, I would just sell it and buy back. But I don't, hence why I would rather get a loan.

[smooth]

2> If I thought the value of the collateral was going to go down, I would just sell it and buy back. But I don't, hence why I would rather get a loan.

It's not your opinion that matters, it is the lender's opinion, and in general the lender has no opinion, and really no particular interest in your investments save for liquidating them if necessary to cover the loan. Having no opinion, the lender is likely to consider the collateral as likely to go down as up, which means if starting at 100% there is a 50% chance the collateral declines in value, leaving the loan undercollateralized.

It is useful to consider this transaction from the perspective of a potential scammer, even though you perhaps aren't one, the primary job of the lender in this environment is to frustrate the efforts of scammers, so this thought exercise is useful. If the scammer makes the 100% collateralized loan, and the collateral goes up in value, the scammer pays back the loan and recovers the collateral. If the collateral goes down in value, the scammer disappears, and the lender takes a loss.

This is why overcollaterlization is required by all experienced lenders. The objective probability of the collateral dropping in value below the loan can't be much higher than the interest on the loan, otherwise the terms are scammer bait.