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Author Topic: [FULFILLED!] 10,000 BTC loan - LONG TERM  (Read 6957 times)
yochdog
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September 12, 2012, 01:45:45 AM
 #61

ROFL.  You just popped off to a guy who has his CFA charter, his CPA, and runs a financial firm with 500 million under management. 

Obviously I don't know anything about it. 
Don't want to get in a pissing match but my career was in the global bond markets.  So yes, it's clear you don't know anything about it.

Of course it was.  I'm sure you are a globe trotting, soros advising genius.  It is apparant from your complete disregard for credit worthiness and sole focus on yield. 

You must have been wildly successful given that is WAS your "career".

You people crack me up. 

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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yochdog
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October 10, 2012, 02:41:18 PM
 #62

Another update for those following this loan with piqued interest:

The January, February, and March payments have been made.  The next payment is not due until April, 2013.

I do, however, intend to continue aggressively pre-paying the loan in order to decrease the exchange rate risk that has already hurt me pretty good. 

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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October 10, 2012, 07:50:57 PM
 #63

I do, however, intend to continue aggressively pre-paying the loan in order to decrease the exchange rate risk that has already hurt me pretty good. 

Call options on Bitcoin would be great if the legal framework for them wasn't so murky.


1DentLdiRMv3dpmpmqWsQev8BUaty9vN3v
yochdog
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October 10, 2012, 08:06:04 PM
 #64

I do, however, intend to continue aggressively pre-paying the loan in order to decrease the exchange rate risk that has already hurt me pretty good. 

Call options on Bitcoin would be great if the legal framework for them wasn't so murky.



Man, I think that every day.

I thought I had it covered with Bitcoinica, and, well.....we saw how that ended.  I am still waiting for my BTC back.......

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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November 28, 2012, 10:08:58 PM
 #65

Figured I would update this thread again to keep everyone appraised.

Payments have been made for April, June, July, and August of 2013.  The next contractual payment is not due until September of 2013.

I still intend to aggressively pre-pay the loan to mitigate my exchange rate risk, which has thus far been BRUTAL. 

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
MPOE-PR
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November 28, 2012, 11:14:10 PM
 #66

Well this has been a pretty entertaining read.

PS. Buy options? You'd be in a better position than most seeing how you're already short BTC.

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zebedee
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November 29, 2012, 09:58:41 PM
 #67

Figured I would update this thread again to keep everyone appraised.

Payments have been made for April, June, July, and August of 2013.  The next contractual payment is not due until September of 2013.

I still intend to aggressively pre-pay the loan to mitigate my exchange rate risk, which has thus far been BRUTAL. 

It could get  more brutal.  Borrowing in a currency you don't have equivalent assets in, or similar revenue in, is in general a bad idea.  At the very least  a huge gamble.

And unlike the homeowners  thinking they were getting a great deal borrowing in CHF or JPY, you don't have manipulative central banks trying to rescue you.
yochdog
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November 29, 2012, 10:25:34 PM
 #68

Figured I would update this thread again to keep everyone appraised.

Payments have been made for April, June, July, and August of 2013.  The next contractual payment is not due until September of 2013.

I still intend to aggressively pre-pay the loan to mitigate my exchange rate risk, which has thus far been BRUTAL. 

It could get  more brutal.  Borrowing in a currency you don't have equivalent assets in, or similar revenue in, is in general a bad idea.  At the very least  a huge gamble.

And unlike the homeowners  thinking they were getting a great deal borrowing in CHF or JPY, you don't have manipulative central banks trying to rescue you.

I thought through all the pitfalls when I took the loan out, well aware of the risks.

Fortunately I earn in BTC through my 100 GH/s farm and also wrote a collar on the exchange rate into the loan contract.  My pain will be limited if the price increases 250% again......but I definitely don't want it to! 

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
yochdog
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January 08, 2013, 10:46:30 PM
 #69

Another update for ya'all.

I have continued pre-paying the loan, and the next obligated payment is not until November, 2013.  




I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
yochdog
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March 13, 2013, 04:36:15 PM
 #70

Another quick update.......payments have been made through January of 2014.  Next installment is not due until February, 2014. 


I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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March 20, 2014, 04:20:32 PM
 #71

Out of curiosity: any updates?

GBattaglia
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March 20, 2014, 06:42:44 PM
 #72

Man.  Think.  This loan at today's rates would be $6,000,000.  That is just insane.

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yochdog
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March 20, 2014, 07:24:16 PM
 #73

Out of curiosity: any updates?

The loan is paid through the end of this year.....and over half of the contracted principal payments have been made.

Looking back, it has been a pretty awful deal for both me and the lender. 

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
howzar
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March 20, 2014, 07:46:08 PM
 #74

Out of curiosity: any updates?

The loan is paid through the end of this year.....and over half of the contracted principal payments have been made.

Looking back, it has been a pretty awful deal for both me and the lender.  

The lender should let you keep what 10k btc was worth back then in $$. Seems like you had to repay a lot more back and he made one he'll of a good deal.
yochdog
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March 20, 2014, 07:50:00 PM
 #75

Out of curiosity: any updates?

The loan is paid through the end of this year.....and over half of the contracted principal payments have been made.

Looking back, it has been a pretty awful deal for both me and the lender.  

The lender should let you keep what 10k btc was worth back then in $$. Seems like you had to repay a lot more back and he made one he'll of a good deal.

The problem is that we had a collar on the loan.  Basically safeguarded both of us in case BTC moved huge either direction. 

The end result has been I will pay 5x the original loan in dollar terms, and he is getting back significantly less BTC. 

We both lost in some capacity. 

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
howzar
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March 20, 2014, 08:05:34 PM
 #76

Out of curiosity: any updates?

The loan is paid through the end of this year.....and over half of the contracted principal payments have been made.

Looking back, it has been a pretty awful deal for both me and the lender.  

The lender should let you keep what 10k btc was worth back then in $$. Seems like you had to repay a lot more back and he made one he'll of a good deal.

The problem is that we had a collar on the loan.  Basically safeguarded both of us in case BTC moved huge either direction. 

The end result has been I will pay 5x the original loan in dollar terms, and he is getting back significantly less BTC. 

We both lost in some capacity. 

Ah I see, at least you guys were early adopters and threw around 1000s of bitcoins.

Plus im sure youve got plenty more Tongue
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