Thanks to the bitcointalk community, 5 loans worth 2.6BTC total were carried out and successfully repaid for the project. I am glad that this community still have faith in each other for loans, despite the excessive scamming that occurs in this section.
Hello,
As most of you know from my previous loan I am developing a bitcoin related website and in order to get this website up I've hit a few speed bumps along the way. My designer is midway through work thanks to Blazedout149 and to integrate all design into the code as well as purchase all appropriate php elements for the site, an extra 2.3BTC is needed.
Loans will last no more than ONE WEEK and usually will be returned before 7 days, depending on how well the coders work and of course on personal finances.
I have a few revenue sources to cover each loan, I am a regular poster and sell ebooks on a few other forums which brings in very variable income per day, though will easily bring in .5+BTC in a week.
I would just use that money, but since it takes time to accumulate and developers need to be paid upfront the approximate time comparing to getting straight-out loans are quite strenuous, example:
Getting a loan:
-- .4BTC received from lender
-- Pay appropriate fees to developer
-- Developer begins work while other revenue sources accumulate BTC
-- Loan repaid before 7 days are up
A 2 - 7 day process per block of funds to the developer.
Accumulating funds:
-- Wait 2 - 7 days to accumulate BTC
-- Pay appropriate fees to developer
-- Developer begins work, accumulation begins again
A 7 - 14 day process per block of funds to the developer.
So give or take, double the time.
Collateral? Sure, I'll be happy to give you my account as collateral in the duration of the loan.
If your account is not
solid green trust we'll be using an official escrow to hold my account, if the loan happens to default you'll get the account from the escrow after the 7 day period.
I prefer to deal with trusted members, to keep the account collateral process quick and easy.
Thanks again for your potential help with my bitcoin project
For Reference, Previous Loans are listed below
