[Open] 6.4 BTC loan, collateral/escrow, monthly interest, ~5 months.

[Honeypot]

Amount: Total 5.7 btc loaned out - still receiving loan offer of any amount with below terms but will be uncollateralized if offered due to collaterals being 100% promised to current interested parties.

Duration: 150 days (about 5 months, can be paid back earlier depending on negotiations)

Repayment amount: Total of 30% interest + Principle. Every 30 days, I will pay out 6% interest, and principle will be fully repaid along with the last 6% interest payment after 150 days (about 5 months). 6% (every 30 days) X 5 = 30% interest for 150 days. 6.4 BTC + 1.92 BTC in 30% interest = total 8.32 btc repayment.

Essentially, 6% interest on the principle will be paid out to you every 30 days from the beginning of the loan, four times until 150 days are up (about 5 months) at which point all 6.4 btc + last 6% interest payment will be made, GMT.

Loan purpose: I am deeply involved in btc trades and also in the altcoin scene. My previous transactions in the trust category can speak for themselves.

You can check the previous threads here:

https://bitcointalk.org/index.php?topic=398293.0;all

https://bitcointalk.org/index.php?topic=430970.new#new

https://bitcointalk.org/index.php?topic=751645.0;all

https://bitcointalk.org/index.php?topic=841349.msg9389799#msg9389799


I can provide a collateral in a different coin to cover most of the loan at the current avg monthly market price, if that would ease your concerns due to this request being a relatively large amount. Escrow will be the one we both agree on that can be trusted to hold the collateral. I would prefer to ask this public escrow to hold the collateral:

Rofo (aka Jason L. Curby profile):

https://www.noblemovement.com/nobleescrow/

https://bitcointalk.org/index.php?action=profile;u=198862;sa=summary

https://au.linkedin.com/pub/jason-curby/27/9b8/994

https://twitter.com/NobleCoin

Not some faceless anonymous escrow on btc talk, so I would trust him personally. We can discuss it further.



Also, you can say my collateral is my reputation not only on btc talk forum trading reputation, but also my crypto reputation in general (irc, twitter, other forums etc) since people i work with know my forum handle. I would like to state this just to make clear what I am proposing.

I reserve the right to pay everything back earlier (all 30% interest + principle).

Thank you for taking time to read this request - I have posted in several threads seeking a loan for similar conditions. Anyone who comes first will have priority in terms of negotiations.

Most terms are negotiable. PM me for details on the collateral.

Thank you in advance


Update: Loan amount adjusted to reflect the recent price changes.
Update #2: More adjustments to the terms, extended time period and loan amounts.
Update #3: ducatitalia reserved 4 btc with negotiated terms.
Update #4: lihuajkl reserved 1.7 btc with negotiated terms. Collateral completely promised. OP updated. Waiting on escrow.

[1715215569]

1715215569

[Quickseller]

Interested. Can you clarify who you are suggesting to use as escrow? You appear to have put a link to someone's profile with no trust (who obviously no one will agree to use).

What alt coin are you using for collateral this time around?

[Honeypot]

Interested. Can you clarify who you are suggesting to use as escrow? You appear to have put a link to someone's profile with no trust (who obviously no one will agree to use).

What alt coin are you using for collateral this time around?

Same that I pm'd you about. Collateral value is slightly below monthly market price avg, so should cover 7 btc easy.

As for the escrow, it's really anyone we can both agree on. I have used Maidak before, so we can go with him if you want. I suggested Rofo because of the public profile there if you checked the linkedin, twitter, and noblemovement website

[Quickseller]

Maidak is someone I can agree upon. Let me search through my PMs to find the details.

[monbux]

Interested in lending 0.5 -1 BTC. What collateral will you be providing and will we be able to liquidate the collateral once the value reaches a certain amount?

[Honeypot]

Interested in lending 0.5 -1 BTC. What collateral will you be providing and will we be able to liquidate the collateral once the value reaches a certain amount?

Collateral is the same as the last time I spoke via pm I can send you details again if you need, as well as the terms.

[marcotheminer]

will we be able to liquidate the collateral once the value reaches a certain amount?

According to last time he didn't want this to happen, so it could it mean he has a choice to default or not.

If the value of noble crashes he can default, if it spikes he just pays back the loan and takes the noble back (just a theory at the moment).

[Honeypot]

will we be able to liquidate the collateral once the value reaches a certain amount?

According to last time he didn't want this to happen, so it could it mean he has a choice to default or not.

If the value of noble crashes he can default, if it spikes he just pays back the loan and takes the noble back (just a theory at the moment).

I don't know if you 'can' default anything when you deal square, but I hope you are more careful with such accusations.

Liquidation is off the table - I have much more to lose than 7 btc since people know my handle and everything is here for public view. Collateral has potential to go high low in blink of an eye - and liquidation for now is too risky and volatile an option.

[marcotheminer]

will we be able to liquidate the collateral once the value reaches a certain amount?

According to last time he didn't want this to happen, so it could it mean he has a choice to default or not.

If the value of noble crashes he can default, if it spikes he just pays back the loan and takes the noble back (just a theory at the moment).

I don't know if you 'can' default anything when you deal square, but I hope you are more careful with such accusations.

Liquidation is off the table - I have much more to lose than 7 btc since people know my handle and everything is here for public view. Collateral has potential to go high low in blink of an eye - and liquidation for now is too risky and volatile an option.

Saying you have much more to lose than X amount of BTC doesn't mean anything. As a lender, we always assume the worst and best case scenarios. In the worst, solid collateral that can be sold easily if need be (lender defaults or collateral price crashes) is required for a successful loan especially of this size and duration.

[Honeypot]

will we be able to liquidate the collateral once the value reaches a certain amount?

According to last time he didn't want this to happen, so it could it mean he has a choice to default or not.

If the value of noble crashes he can default, if it spikes he just pays back the loan and takes the noble back (just a theory at the moment).

I don't know if you 'can' default anything when you deal square, but I hope you are more careful with such accusations.

Liquidation is off the table - I have much more to lose than 7 btc since people know my handle and everything is here for public view. Collateral has potential to go high low in blink of an eye - and liquidation for now is too risky and volatile an option.

Saying you have much more to lose than X amount of BTC doesn't mean anything. As a lender, we always assume the worst and best case scenarios. In the worst, solid collateral that can be sold easily if need be (lender defaults or collateral price crashes) is required for a successful loan especially of this size and duration.

Volatility goes both ways, and I think we can agree to disagree. Risk is there for both the lender and borrowers, both in terms of potential risk and benefits. I would be risking profit by having collateral tied up as well (if I pay it all back early, I would pay all the interest due no matter how much time remains).

Such is crypto scene as it is. I intend to follow through with everything, and every deal that are closed and repaid is all the more proof of my intentions. That is how I always operated, and I cannot fully make the terms beneficial for the borrower at the cost of putting myself at an unfair advantage.

Balance for all, no? Try to see it from another perspective.

If you are so doubtful, I would say you should try it out.

[Quickseller]

Since what the collateral is has been leaked.......the 24 hour volume of **** on bitter is ~1.6 BTC and it looks like there is similar 24 hour volume on other exchanges.

Looking at the order book on bitrex, polonex, and critpsy it doesn't look like there are even 7 BTC worth of bids across all the exchanges, let alone at the market rate.

tl;dr this seems a lot like an unsecured loan

[Honeypot]

Since what the collateral is has been leaked.......the 24 hour volume of **** on bitter is ~1.6 BTC and it looks like there is similar 24 hour volume on other exchanges.

Looking at the order book on bitrex, polonex, and critpsy it doesn't look like there are even 7 BTC worth of bids across all the exchanges, let alone at the market rate.

tl;dr this seems a lot like an unsecured loan

Rest assured, there are those who want to buy it cheaply

[scarsbergholden]

You can check the previous threads here:

https://bitcointalk.org/index.php?topic=398293.0;all

Why would you list this loan thread as a reference? Do you not see how unprofessional this makes you look?

A word to the wise, if you want to claim that your reputation is worth a lot on here then I would suggest that you not give a reference of you in a flame war with another user.

[Honeypot]

You can check the previous threads here:

https://bitcointalk.org/index.php?topic=398293.0;all

Why would you list this loan thread as a reference? Do you not see how unprofessional this makes you look?

A word to the wise, if you want to claim that your reputation is worth a lot on here then I would suggest that you not give a reference of you in a flame war with another user.

I hide nothing

Most importantly, the references indicate (aside from my trust feedbacks) my past history of fulfilling all deals no matter how big or small, regardless of difficulties. Those serve as a public proof of my dealings.

I consider other contents on those threads to be irrelevant (aside from mild amusement and/or their telling silence when my deals are concluded successfully).

Your point is noted

[Honeypot]

Update: Loan amount and interest adjusted for recent price changes.

[Quickseller]

Update: Loan amount and interest adjusted for recent price changes.

Collateral should be at the very minimum be worth 120% of the loan amount for established alt coins and more for newer (and less liquid alt coins). If you accept anything less then you will be at risk

[Honeypot]

Update: Loan amount and interest adjusted for recent price changes.

Collateral should be at the very minimum be worth 120% of the loan amount for established alt coins and more for newer (and less liquid alt coins). If you accept anything less then you will be at risk

We will let the lender decide the risks and benefits, accounting for all the factors, fact being both sides are taking risks of some form or another. Once again, your advice is appreciated.

Updated further to account for market changes - all 6.4 BTC offer now up for lenders.

[Rum152]

Why would anyone consider giving a loan using collateral equal to the exact amount of the loan? Isn't that essentially you selling the collateral while having the option to buy it back at a higher price in the future?

[Honeypot]

Why would anyone consider giving a loan using collateral equal to the exact amount of the loan? Isn't that essentially you selling the collateral while having the option to buy it back at a higher price in the future?

'Selling' means you turn over your ownership completely in return for payment. I don't know how you think this is a valid comparison.

Collaterals are dealt according to the potential and benefits of the interested parties. The issue is the matter of volatility in crypto currency markets of course. In actual financial dealings 'in real life', such deals are common enough with both parties considering future and present market conditions. It is an investment as well - and each side negotiates details, plans, etc.

What of the risk that the offering party takes of missing a chance to actually sell that collateral at a higher value at later date while it is held in escrow for the loan? Why do you believe it is a legitimate argument to focus solely on the profits of others - without considering that offering party is also forfeiting potential profits as well in a deal such as this?

In this case your question boils down essentially to 'why do you deserve any kind of leeway in terms of risk', 'Why you no give me virtually free money' while maximizing lender potential profit and completely shutting out any space for the borrower. Consider how entitled such arguments sound.


This is a deal, not a charity cause. Each side weighs their benefits and risks and reaches a compromise. Let's be serious about this.

[Rum152]

So you are giving someone 6.4 BTC worth of some altcoin in exchange for 6.4 BTC with a promise to repay at a later date?

If the price of the collateral does not rise by the amount of interest due then you will simply default on the loan and run away with the lender's money.

With any kind of loan that is secured by collateral, the lender will ask for something that is worth more then the amount being lent both to give the borrower an incentive to repay and to properly secure their investment.

There would be nothing to stop you from selling the collateral if the price increases. You could direct the escrow agent to place a sell order and would continue to hold the proceeds until the loan is repaid.