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Author Topic: Needing a 75 BTC loan.  (Read 757 times)
finkleshnorts
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July 07, 2012, 06:08:32 AM
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Here's my idea...

I've got a Dwolla deposit on the way for 520 USD, expected to clear on 7/10 by 5:00 PM CST according to Dwolla.

Lender will send 75 BTC to an agreed upon escrow service, and I will pay 520 USD Dwolla on 7/11 by 5:00 PM CST. That is a price of $6.93 per coin. (Of course, the BTC will remain in escrow until payment is received.)

This would be similar to going short on BTC. If the price decreases, you will profit. I am doing this because I would like to be insured against a price increase.

Offer may expire quickly.

Please post here if interested.
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Stephen Gornick
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July 07, 2012, 06:49:44 AM
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This would be similar to going short on BTC. If the price decreases, you will profit.

That is a pretty short expiration but even so, you aren't giving much of a forward premium to the seller.

If you can't find a trade here, you could also try offering it as a call option.

 - http://wiki.bitcoin-otc.com/wiki/Option_orders

e.g.,
;;buy 77 btc at 6.75 DWUSD "call option premium 0.01 BTC expires 10Jul2012"

Which would be if you found someone that wanted to trade with yuu, you would pay 0.77 BTC (77 contracts X 0.01 BTC) today, and then you have the option of paying $519.75 any time on or before July 10, 2012 to get delivery of the 77 BTC.

I've not seen much of this option activity on -otc ... but now that we have BTCrow and ThruCoin (?) escrow methods (when necessary, and Web of Trust making escrow not always needed), options could be something to try.

finkleshnorts
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July 07, 2012, 06:58:47 AM
 #3

This would be similar to going short on BTC. If the price decreases, you will profit.

That is a pretty short expiration but even so, you aren't giving much of a forward premium to the seller.

If you can't find a trade here, you could also try offering it as a call option.

 - http://wiki.bitcoin-otc.com/wiki/Option_orders

e.g.,
;;buy 77 btc at 6.75 DWUSD "call option premium 0.01 BTC expires 10Jul2012"

Which would be if you found someone that wanted to trade with yuu, you would pay 0.77 BTC (77 contracts X 0.01 BTC) today, and then you have the option of paying $519.75 any time on or before July 10, 2012 to get delivery of the 77 BTC.

I've not seen much of this option activity on -otc ... but now that we have BTCrow and ThruCoin (?) escrow methods (when necessary, and Web of Trust making escrow not always needed), options could be something to try.

Hey Stephen,

Thanks for the reply.

That's interesting... I've never used OTC before, so I don't have a WoT rating. In fact, this morning was the first time I ever used IRC (I used wibbit).  Would I still have a shot at finding a seller there?

I'll edit the post to make it 75 BTC instead of 77. That's $6.93/BTC.

edit: just read your link there. Really cool how that works (I am relatively new to finance).
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July 07, 2012, 10:38:45 AM
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If you're interested in splitting this up, I'll take 25 BTC of your request. (Obviously that would be for $173.33 USD on Dwolla) PM me.
finkleshnorts
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July 07, 2012, 02:50:28 PM
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If you're interested in splitting this up, I'll take 25 BTC of your request. (Obviously that would be for $173.33 USD on Dwolla) PM me.

PM sent.
finkleshnorts
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July 07, 2012, 02:55:13 PM
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I am also willing to do this as a call option transaction (fee to you now, I can choose to make transaction on 7/11, you keep btc till then). That probably makes more sense.
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