[Withdrawn] Yet another hardware related loan request

[nedbert9]

First of all I'm not happy about having to ask for a loan, but I'm between a rock and a hard place.

This is a loan request for mining gear.  With all of the risks surrounding ASIC and no prior participation in lending I don't expect much interest.  Still, this is a point of moving forward or exit from the mining game for me.  I want to see what my options are.  Thanks for looking it over.


I am currently invested fairly well with BFL Singles as my only mining assets.  My ROI is approx. 10% realized.  I am not liquid anywhere close to what's needed to quickly execute BFL's trade-in offer for a 100% value credit towards BFL's next generation of SC line gear.  BFL's trade-in requirement is 1:1 credit for equipment and capital.

I have a steady income, yet not enough to act as quickly as I need to secure a favorable position in BFL's order book.  Any personally identifying information required to satisfy comfort level will be furnished.

I would like to check lending interest for a 1300 BTC loan for 6 months.  Offers for lower amounts of BTC are appreciated and I'll explore possibilities such as selling off some Singles to match my liquidity to the trade-in requirements.

Thanks.

Edit:

The sense of urgency for this loan is based on BFL's delivery priority schedule and the profitability curve as orders are fulfilled.
The slower BFL's output velocity the the longer the profitability curve.  So, either there's good or really good profitability by being in the first month's shipments.

For any given quantity available to be shipped
1.  1/3 of quantity - By order number
2.  1/3 of quantity - Trade-in requests.
3.  1/3 of quantity - Lottery of orders placed within the month

As for 'trade-in customers should just wait.'  My assumption is that BFL will have a trade-in list by order of execution/payment to drive delivery priority for criterion 2 above.  Waiting 3 months very well might mean waiting an extra 3 months for shipment.  This will be clarified.
https://bitcointalk.org/index.php?topic=89258.msg984426#msg984426

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[PatrickHarnett]

I expect several of these types of requests to occur and have seen a few already.

The question I will pose is

Given the delay on BFL singles and they are still working through the back-log, what is the particular rush to tie up you money for longer than necessary?

If they actually start shipping in October, and 1/3 go on pre orders, 1/3 on current and 1/3 by luck, why not wait until the units are available and save three months+ of interest?

[nedbert9]

I expect several of these types of requests to occur and have seen a few already.

The question I will pose is

Given the delay on BFL singles and they are still working through the back-log, what is the particular rush to tie up you money for longer than necessary?

If they actually start shipping in October, and 1/3 go on pre orders, 1/3 on current and 1/3 by luck, why not wait until the units are available and save three months+ of interest?

Fair question.

edit:  As I understand it.  Could be wrong.  Will seek clarification.
Although not clearly stated by BFL, their terms for delivery selection must have a defined time range.

1.  1/3 Order priority
2.  1/3 Trade-in - requests received in the first month
3.  1/3 Lottery - requests received in the first month

edit:
If criterion 2 is not correct then waiting 3 months to execute trade-in option will put you at the end of the trade-in list.  Still a bad place to be.

Please refer to this for my reasoning behind executing my trade-in options, and why I'm requesting this loan, within this first month window.
https://bitcointalk.org/index.php?topic=89258.msg984426#msg984426

[Turbor]

If they actually start shipping in October, and 1/3 go on pre orders, 1/3 on current and 1/3 by luck, why not wait until the units are available and save three months+ of interest?

This. All those who rush into this won't gain anything.

[nedbert9]

If they actually start shipping in October, and 1/3 go on pre orders, 1/3 on current and 1/3 by luck, why not wait until the units are available and save three months+ of interest?

This. All those who rush into this won't gain anything.

I respectfully disagree, but waiting on BFL to verify some information regarding the 1/3 trade-in priority.