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Author Topic: [LOAN] Will loan out 160 MT GOX dollars.  (Read 1041 times)
Lemmih
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May 10, 2011, 08:56:25 PM
 #1

Hiya,

I have $160 sitting in my MT GOX account doing nothing. I am willing to lend them out to a reputable user for 5% per started 30 day period with an upper limit of 180 days. You can borrow all of the dollars or any fraction of them.
So, to be absolutely clear, if you borrow $100 for 7 days, you will repay me $100*1.05 = $105. If you borrow $100 for 45 days, you will repay me $100*1.05^2 = $110.25

Feel free to bid higher than 5% if you're interested.
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torbank
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May 18, 2011, 04:32:03 AM
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I'll take that deal.
bitcredit
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May 18, 2011, 06:58:01 AM
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Just so we're all clear, this usurer is asking for an APY of 79.5% (1.05^12 - 1). Cash advances on even the most expensive credit cards are cheaper than that. I suppose he's still offering you a better deal than payday loan places though.
Alex Beckenham
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May 18, 2011, 07:07:59 AM
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So, to be absolutely clear, if you borrow $100 for 7 days, you will repay me $100*1.05 = $105. If you borrow $100 for 45 days, you will repay me $100*1.05^2 = $110.25

This isn't clear at all... how much is 8 days?

Lemmih
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May 18, 2011, 01:21:46 PM
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Just so we're all clear, this usurer is asking for an APY of 79.5% (1.05^12 - 1). Cash advances on even the most expensive credit cards are cheaper than that. I suppose he's still offering you a better deal than payday loan places though.

Usury is a favorite past time of mine when I'm not busy clubbing seals or eating babies.
Lemmih
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May 18, 2011, 01:24:48 PM
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I'll take that deal.

Sorry, the Mt Gox dollars have been sold.
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