Need 1000 BTC. 100% guarantee for lender

[Andrew Vorobyov]

Andrew,

If I get to add the address that the accepted escrow uses to my assets and the escrow doesn't not move the coins from that address (if he/she does a penalty will be applied.), I will accept the 100 BTC escrowed account from an accepted escrow (Gavin is acceptable).  And in one years time from the deposit of the 100 BTC, I will pay you 10 BTC.

Those coins shall not be moved from that address for the entirety of the year though. If at anytime those coins move from that address, a penalty shall be paid to me in the sum of 2 BTC.


Let's have some people scratching their heads.

I don't get it ... in plain English - you want to lend money or borrow?

[ShadowAlexey]

))) What is your profit of it? Just not letting me use BTC for this time to increase rates?
In that case people would love to do so,but i still would like to remind you that escrow is not 100% safe, especially in a long terms, because person can get missing,pc corrupt, etc.
We live in real life, there is no 100% sure.

I just wanted you to get it... 100 BTC now is not 100BTC in one year from now...

Of course I'm not going to lock 110 BTC just to get 100 BTC...

I do understand that time changes valuably of money,thats why people get interest ) .
I just want to point you at 2 facts: 1. You cant provide 100% now in long terms. Delayed transaction would make sense, but it still is not implemented + there would be a chance that quantum computer will ruin all the system.
2. With your system there`s still a chance that depositor can not only loose all his money, but even be in a debt to you. If price will drop from 5 to 2.5 then he would have to pay you 2375 dollars. That is the risk). So thing about your preposition at least to eliminate this risk.

[JusticeForYou]

Andrew,

If I get to add the address that the accepted escrow uses to my assets and the escrow doesn't not move the coins from that address (if he/she does a penalty will be applied.), I will accept the 100 BTC escrowed account from an accepted escrow (Gavin is acceptable).  And in one years time from the deposit of the 100 BTC, I will pay you 10 BTC.

Those coins shall not be moved from that address for the entirety of the year though. If at anytime those coins move from that address, a penalty shall be paid to me in the sum of 2 BTC.


Let's have some people scratching their heads.

I don't get it ... in plain English - you want to lend money or borrow?

Well technically borrow, but I will not have access to spend the funds. The 'accepted' escrow will just hold them for a year. If the funds do not move for the year, I will pay you 10 BTC. If they do, you will pay me 2 BTC.

Isn't that fair?

Edit: However, the funds are considered mine. I just can't spend them.

[Andrew Vorobyov]

Give me a minute to put official contract, meanwhile start looking for arbiter who will be co-signing multi signature transaction with us in case we will need somebody

[JusticeForYou]

Give me a minute to put official contract, meanwhile start looking for arbiter who will be co-signing multi signature transaction with us in case we will need somebody

Ok, well as you suggested in your post Gavin will be the escrow. An arbiter could be nanotube, if problems arise. OK.

[Andrew Vorobyov]

Something like this? Edit it before we "sign it"...

I don't think Gavin will want to be involved into this.... let's ask around who can be trusted by both of us.

I ,Andrew Vorobyov, agree to pay negative difference between current value of 100 BTC in USD - 511 USD - and value of 100 BTC on May 20,2013 in Bitcoins up to 100 BTC. I agree to place 100 BTC into multi signature transaction 2-of-3 between me, BTC_Bear and _somebody who we can trust_.


I'm, BTC_Bear, agree to pay 10 BTC to Andrew Vorobyov on 20 May 2012.


Appendix:

USD price of the BTC will be calculated as a average price among 3 exchanges with the most trading volume for any of the next currencies - EUR, GBP, USD - using price for cross pairs like EUR/USD or GBP/USD on May 20,2013

Do we have lawyers around?

[bitlane]

Andrew, this is just a stupid SCAM.
You are just trying to show people how smart you are....pathetic.
I can't believe that someone is going to fall for this eventually.
Oh well, since you now have me on 'Ignore', it's not like you will see this post anyways,

[Andrew Vorobyov]

Oh well, since you now have me on 'Ignore', it's not like you will see this post anyways,

Almost there...

Now tell me -  why do you think it is scam?

[JusticeForYou]

Something like this? Edit it before we "sign it"...

I don't think Gavin will want to be involved into this.... let's ask around who can be trusted by both of us.

I ,Andrew Vorobyov, agree to pay negative difference between current value of 100 BTC in USD - 511 USD - and value of 100 BTC on May 20,2013 in Bitcoins up to 100 BTC. I agree to place 100 BTC into multi signature transaction 2-of-3 between me, BTC_Bear and _somebody who we can trust_.


I'm, BTC_Bear, agree to pay 10 BTC to Andrew Vorobyov on 20 May 2012.


Appendix:

USD price of the BTC will be calculated as a average price among 3 exchanges with the most trading volume for any of the next currencies - EUR, GBP, USD - using price for cross pairs like EUR/USD or GBP/USD on May 20,2013

You missed some things... The 'accepted' escrow can't move the funds. The funds must stay in that address for the entire year.
Edit: and if they are moved: there is a 2 BTC penalty payed to me.

Just a sec... let me see if I can find an escrow that would be willing to hold the BTC for a year.

[Andrew Vorobyov]

You missed some things... The 'accepted' escrow can't move the funds. The funds must stay in that address for the entire year.
Edit: and if they are moved: there is a 2 BTC penalty payed to me.

Look, I don't want our escrow agent guy to run away with my 100 BTC. I need an option to block escrow agent from moving funds, unless or you or me agree with his actions. Therefore I suggest multi signature transaction.

Just a sec... let me see if I can find an escrow that would be willing to hold the BTC for a year.

How about hashking, senbonzakura, Meni Rosenfeld ?

[JusticeForYou]

You missed some things... The 'accepted' escrow can't move the funds. The funds must stay in that address for the entire year.
Edit: and if they are moved: there is a 2 BTC penalty payed to me.

Look, I don't want our escrow agent guy to run away with my 100 BTC. I need an option to block escrow agent from moving funds, unless or you or me agree with his actions. Therefore I suggest multi signature transaction.

Just a sec... let me see if I can find an escrow that would be willing to hold the BTC for a year.

How about hashking, senbonzakura, Meni Rosenfeld ?

Just a sec... And the funds are considered Mine for the year. Just a sec...


Hash King isn't online right now, however, I will accept you depositing 100 BTC with Hash King that I can't access but are considered mine. I will at the end of the year pay you your 10 BTC and Hash King can return the 100 BTC to your control and you can pay any negative difference to me.

[Andrew Vorobyov]

1st of all - don't be in rush, take your time... it is ok if you need some time to think it over.

but are considered mine

No. Technically 100 BTC belong to me. However, this 100BTC will be used to pay the difference, if any.

I will at the end of the year pay you your 10 BTC

No. You pay 10 BTC the moment we sign the contract because I don't know what 10 BTC will be worth one year from now.


PS. I PMed Gavin, maybe he will agree to help us

[JusticeForYou]

1st of all - don't be in rush, take your time... it is ok if you need some time to think over it.

but are considered mine

No. Technically 100 BTC belong to me. However, this 100BTC will be used to pay the difference, if any.

I will at the end of the year pay you your 10 BTC

No. You pay 10 BTC the moment we sign the contract because I don't know what 10 BTC will be worth one year from now.


PS. I PMed Gavin, maybe he will agree to help us

Ok, I will pay you 10 BTC upon the signed contract. The 100 BTC will be deposited with HashKing, you can use that 100 BTC to pay the difference. BUT, I shall earn any interest off of Hash Kings holding of the 100 BTC if any.

[Andrew Vorobyov]

The 100 BTC will be deposited with HashKing, you can use that 100 BTC to pay the difference. BUT, I shall earn any interest off of Hash Kings holding of the 100 BTC if any.

Look, I don't feel safe transferring 100 BTC to some nickname hashking (he even did not put his real name)...

Let me talk to Bitcoin core developers, mining pool operators - somebody who have reputation and can not afford to lose it...

What do you think about Tycho - he is deepbit owner?

[JusticeForYou]

The 100 BTC will be deposited with HashKing, you can use that 100 BTC to pay the difference. BUT, I shall earn any interest off of Hash Kings holding of the 100 BTC if any.

Look, I don't feel safe transferring 100 BTC to some nickname hashking (he even did not put his real name)...

Let me talk to Bitcoin core developers, mining pool operators - somebody who have reputation and can not afford to lose it...

What do you think about Tycho - he is deepbit owner?

Hey, You chose him as an option: How about hashking, senbonzakura, Meni Rosenfeld ?

But Ok, never mind.

[bitlane]

So if BTC goes down to $2.50 USD....who pays who ? and how much ? (at the 1 year point?) ?


If BTC goes up to $10.00 USD....who pays who ? and how much ? (at the 1 year point?) ?

[Andrew Vorobyov]

So if BTC goes down to $2.50 USD....who pays who ? and how much ? (at the 1 year point?) ?

I send 100 BTC to him.


If price will be above 5.11 - I take my 100 BTC.

[Andrew Vorobyov]

The 100 BTC will be deposited with HashKing, you can use that 100 BTC to pay the difference. BUT, I shall earn any interest off of Hash Kings holding of the 100 BTC if any.

Look, I don't feel safe transferring 100 BTC to some nickname hashking (he even did not put his real name)...

Let me talk to Bitcoin core developers, mining pool operators - somebody who have reputation and can not afford to lose it...

What do you think about Tycho - he is deepbit owner?

Hey, You chose him as an option: How about hashking, senbonzakura, Meni Rosenfeld ?

But Ok, never mind.

I sent some messages  - will see who will show up...

Let's continue tomorrow - it's 2 a.m here...

[JusticeForYou]

So if BTC goes down to $2.50 USD....who pays who ? and how much ? (at the 1 year point?) ?

At 2% per week from HK, I wouldn't care by then. If I get paid anything from the difference at the end of the year, it would just be icing on the cake.

My other method of locking the BTC into an address and a penalty to be paid if moved, is like a CD except I could only use the CD value to leverage and not spend (however in that case, I would pay the 10 btc at the end, not up front).

In either case, I need to have some value to the 100 BTC.

[bitlane]

So if BTC goes down to $2.50 USD....who pays who ? and how much ? (at the 1 year point?) ?

I send 100 BTC to him.


If price will be above 5.11 - I take my 100 BTC.

I don't get it...OBVIOUSLY the price is going to increase with block reward halving.

This is all win for you (10 BTC today) and NO gain for the other guy.

Like I said, you are trying to prove how smart you are, that is all. It's a complete WASTE of 10 BTC for the other party involved.