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Author Topic: I am looking to borrow 10,000 BTC to expand my current bussiness.  (Read 4701 times)
hashking
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April 05, 2012, 10:58:29 AM
 #21

Is this the next level of 419 scam?

Why would this be considered a scam?  I have enough money coming in every month to more then cover this loan and have very solid proof of income which I would be willing to share with the right lender.   So please explain to me how you would consider this a scam. 
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April 05, 2012, 11:27:44 AM
 #22

So please explain to me how you would consider this a scam.  

I don't consider it anything. I am asking if this is a 419. No idea where you live but in my country you'll get 3.5% or better given the collateral you claim to have. What's the reason you offer 15% then?

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April 05, 2012, 04:11:43 PM
 #23

So please explain to me how you would consider this a scam.  

I don't consider it anything. I am asking if this is a 419. No idea where you live but in my country you'll get 3.5% or better given the collateral you claim to have. What's the reason you offer 15% then?

yup, because asking whether it's a 419 will help you determine whether it's a 419

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April 05, 2012, 04:17:02 PM
 #24

I'm willing to co-sign up to $5k. $15/$500 insurance. I trust HK, but am unwilling to tie up funds for the time required.

Hope it helps move things along. Cheers!

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April 05, 2012, 06:41:57 PM
 #25

Seeing how people are more willing to make large loan requests I wish that people would make it easier for people like me to get single figure loans instead of making it difficult.I want rep by successfull payback of small loans.

Will someone please lend to me here? https://bitcointalk.org/index.php?topic=74854.0.If interested please reply to my thread rather than here thanks. I will need loans in future to build my mining rig after this one.

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April 05, 2012, 06:47:37 PM
 #26

Seeing how people are more willing to make large loan requests I wish that people would make it easier for people like me to get single figure loans instead of making it difficult.I want rep by successfull payback of small loans.

Will someone please lend to me here? https://bitcointalk.org/index.php?topic=74854.0.If interested please reply to my thread rather than here thanks. I will need loans in future to build my mining rig after this one.
HK has good rep among lenders (given he is a lender and talks with us), a solid plan, and plenty already invested in his venture. We know about where he lives. You have a request for a consumer/confidence loan (tend to be very high risk), a fuzzy plan, and nothing apparently invested in your venture. Your given payback date is right around today, yet you are still asking for the loan.

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April 05, 2012, 06:56:14 PM
 #27

Seeing how people are more willing to make large loan requests I wish that people would make it easier for people like me to get single figure loans instead of making it difficult.I want rep by successfull payback of small loans.

Why don't you make a business outside of loans? HK does something else that loans, so should you. If you can't afford well $10.... then we know that you're broke.
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April 05, 2012, 08:52:18 PM
 #28

I wonder how many other places I can get 15% compounded annually.  You would do a straight USD loan?

Pegging to USD helps but would just assume not buy 15,000 BTC just to return them to USD on your end a few moments later...

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April 05, 2012, 09:08:40 PM
 #29

I wonder how many other places I can get 15% compounded annually.  You would do a straight USD loan?

Pegging to USD helps but would just assume not buy 15,000 BTC just to return them to USD on your end a few moments later...

I can't even think of one place that would pay 15%.  You are lucky to get 2% at a bank.  I would also accept a straight USD loan.
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April 05, 2012, 09:41:56 PM
 #30

I wonder how many other places I can get 15% compounded annually.  You would do a straight USD loan?

Propser and LendingClub. 

Of course default rates are in the asinine range because obviously anyone more credit worthy would be getting a lower rate.
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April 05, 2012, 09:57:39 PM
 #31

I wish I had more faith -- return is nice but not worth the risk on 75K.

If you could find 2 others I might be interested in 25K.  I show that as a P&I of 866.63.  25K @ 15% over 36 months.

"Safer" investment than 2 mini rigs  Wink

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hashking
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April 06, 2012, 01:17:09 AM
 #32

I wish I had more faith -- return is nice but not worth the risk on 75K.

If you could find 2 others I might be interested in 25K.  I show that as a P&I of 866.63.  25K @ 15% over 36 months.

"Safer" investment than 2 mini rigs  Wink

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April 06, 2012, 05:31:11 AM
 #33

Good point Death and taxes.  A mortgage would be at 5% tops.  This is a strange request indeed.


I'll just leave this here.

http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Safety:_avoiding_fraud

A 5% interest rate would be nice.  The properties that I purchase cost under 30K and need repairs.  The traditional bank isn't willing to lend out money on a house that isn't liveable.  As far as the fraud issue goes, I am willing to divulge all my business information as well as personal.  I would also sign a promissory note so if I didn't pay someone could take legal action.  My assets are a lot more then the loan that I'm asking for.  

Can you take a loan out on an asset that is already paid for and use that money to buy/fix your new property?

Introducing constraints to the economy only serves to limit what can be economical.
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April 06, 2012, 01:49:07 PM
 #34

Good point Death and taxes.  A mortgage would be at 5% tops.  This is a strange request indeed.


I'll just leave this here.

http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Safety:_avoiding_fraud

A 5% interest rate would be nice.  The properties that I purchase cost under 30K and need repairs.  The traditional bank isn't willing to lend out money on a house that isn't liveable.  As far as the fraud issue goes, I am willing to divulge all my business information as well as personal.  I would also sign a promissory note so if I didn't pay someone could take legal action.  My assets are a lot more then the loan that I'm asking for.  

Can you take a loan out on an asset that is already paid for and use that money to buy/fix your new property?

The properties that I purchase cost under 30K and need repairs.  The traditional bank isn't willing to lend out money on a house that isn't liveable.  I have talked to a couple of loan officers and their response is that the banks don't really do these type of loans anymore.  They are worried about lending out the money on a property thats not liveable, not receiving payment and being stuck with a house in a market that is already flooded with houses that can't sell.     
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April 06, 2012, 03:26:03 PM
 #35

I'm willing to co-sign up to $5k. $15/$500 insurance. I trust HK, but am unwilling to tie up funds for the time required.

Hope it helps move things along. Cheers!

I'd be willing to do the same. I can provide evidence of financial backing if there is serious interest.

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April 06, 2012, 04:14:04 PM
 #36

@Kluge & @brendio

Would you have any interest in all 3 of us taking the 75K (split in thirds)?

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April 06, 2012, 04:20:57 PM
 #37

I wonder how many other places I can get 15% compounded annually.  You would do a straight USD loan?

Pegging to USD helps but would just assume not buy 15,000 BTC just to return them to USD on your end a few moments later...

I can't even think of one place that would pay 15%.  You are lucky to get 2% at a bank.  I would also accept a straight USD loan.
actually there are two off the top of my head right now.

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https://bitcointalk.org/index.php?topic=90115.0
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April 06, 2012, 04:23:05 PM
 #38

On $75K with some type of deposit insurance?

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hashking
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April 06, 2012, 07:23:20 PM
 #39

It seems that people are worried because I'm willing to pay a high interest rate to borrow this money.  The reason I'm willing to pay this high of a rate is because the funds that will be used will generate close to a 45% return for me on a worst case scenario with a possibility of it generating a 67% on the best case scenario.  Also from my research this seems to be the going rate for this type of loan. 
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April 06, 2012, 07:37:54 PM
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It seems that people are worried because I'm willing to pay a high interest rate to borrow this money.  The reason I'm willing to pay this high of a rate is because the funds that will be used will generate close to a 45% return for me on a worst case scenario with a possibility of it generating a 67% on the best case scenario.  Also from my research this seems to be the going rate for this type of loan. 

I find this funny and sad. You're willing to offer a collateralized instrument on an investment and offer a very reasonable rate of return. The nay sayers are dubious but they will have no questions about investing in a 30% or more per month program with no guarantees at all.

Hold your ground. Maybe post on ogrr.com forum also with a cross link. Something tells me someone from the EU will be interested if not the U.S.

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