Hopefully someone can help me out with this, as it might be difficult to do this with 2 or more people unfortunately.I am currently looking for a loan of 230 BTC over a payback period of 2 months.
As far as interest rate goes, I am open to offers. I have good credit on the forum and am invested into the BTC economy in a couple different places.
For Lenders that allow me to list them, You can see my forum loan history here: https://bitcointalk.org/index.php?topic=67666
As you will see, I am not an OTC user, so I use that thread as my Credit Reference/History.
I also maintain a 6GH Mining Farm at home, which I am constantly looking to add to.Here's essentially what I am looking to get:
- 230 BTC for 2 months.
- 1st month, set interest rate, regular MPR.
- 2nd month, daily interest rate, so that I have further incentive to get the loan paid off early.
- During this period, I will be making payments.
- At the 30 day mark (or 1 month as lender decides), have the total re-evaluated and subject to a non-compounding daily (or weekly) interest rate from then on.Why the difficult terms ?
1) I know I can pay off early, but most lenders want a guaranteed return for their troubles. This way, they atleast know their return for the first 30 days.
2) As I said above, this gives me further incentive to pay back early.Example: (using my amount above @ 10%, your interest rate offer may vary, this is just an example)230 BTC Loan @ 10% MPR.
At 30 days, total payback is 253 BTC, regardless of early payoff or not.
(if 130 BTC paid off during 1st month)
100 BTC remaining at 0.33% per day (10%/30 days).
Remainder paid in 20 days ? (20x0.33% = 6.6% Interest total)
106.6 BTC final payout, 20 days.As further incentive to make the second month a daily interest rate, I am willing to pay an additional percent or 2 above the first month's interest rate for the trouble
Hopefully this all makes sense and I look forward to hearing back from potential Lenders.
I would ask that my prospective lender provide me with a new and unique BTC repayment address that I can make small/oddball payments to regularly and track on Block explorer....and doesn't have a problem with multiple small payments during the first month from my mining income. I will try to make it as painless as possible for repayment and interest calculations for the second month in a larger or larger payments during the daily interest preiod.