Ninjastic
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Board Lending
Re: [Open] 6.4 BTC loan, collateral/escrow, monthly interest, ~5 months.
by
Honeypot
on 19/01/2015, 07:04:01 UTC
Quote from: ScryptAsic on January 19, 2015, 07:03:05 AM
Quote from: Honeypot on January 19, 2015, 06:59:55 AM
Quote from: ScryptAsic on January 19, 2015, 06:41:10 AM
I think I am going to pass on the loan. The OP is offering to give a value of his collateral the monthly average of 8 sats, while the current trading price is between 6 and 7 sats on the major exchanges and wants to get a loan for the entire value of the collateral based on 8 sats.

In other words he wants to get a loan while using collateral valued at between 75% and 87.5% of the principle of the loan.

Of course, we go by the monthly avg - that's a bit more than usual leeway since last time I loaned out with 2 week avg and it was almost 50% higher than monthly avg Smiley
Was the lender specifically made aware of the differences in price? I was not told until I specifically asked (after doing my research on the current price).

Yes. All terms were discussed and disclosed at the beginning of the discussions. Sent you another pm.