goose20, you know very well how volatile BTC can be, you should have set better terms for the loan. You agreed to the terms and got caught in the inflated BTC price. This is your responsibility, you need to fulfill the terms you agreed to.
It does not matter how much you have already paid or will pay, nor how much you gained or lost, what matters are the terms you agreed to.
I would strongly suggest you make this right as soon as possible.
Good luck to both on a quick resolution.
As for the retaliation feedback I would suggest removing it.
Hi KWH,
Thank you for contributing.
I get what you are saying, but how is this a scam or scam attempt? I am not saying i have repaid in full, i am simply saying this has nothing to do with scamming or being dishonest.
I am unable to continue to make the high repayments. What would you suggest? What would you do if you were in my situation?
I stand by my feedback.
Cheers
You are asking questions that do not relate to this thread. You are in default, you are at fault and need to complete the loan terms you agreed to.
As for an outright scam, I don't believe it is at this time but with the loan long overdue what else is the OP supposed to do?
Your left feedback is in error and I strongly suggest you remove it as it looks completely retaliatory.
This is a pretty easy fix for both, get together and work on that.
I disagree. You choose to come to this thread and contribute. But simply stating 'fix it' without any suggestion as to realistically how is unhelpful.
I have communicated at every turn with zazarb.
I took out a equiv $750 loan with an expectation repayment be ~$780. Now it ends up over $5k. Last month was over $10k. I cannot make btc, i can only buy it with $$.
Its easy to say fix it, but is that really fair and reasonable in such extraordinary circumstances...
Cheers
You are talking about things (BTC skyrocketing) that were not in the original agreement. This has no bearing on the loan repayment.
The lender did not make BTC prices soar and is it fair to let someone break the loan agreement? You should have nailed the terms to USD or a certain payback amount down but you did not.
I am asking Zazarb to try to make a settlement on this overdue loan and get it repaid to his satisfaction and hopefully something you can repay in a lump sum and put this behind you both.
Respect to KWH for his efforts and mature replies.
@goose20
There is no doubt that you were one of the trusted members here until zazarb case. If you don't solve this case then you will remain as scammer forever.
In order to solve the case, at first, you have to consider the fact that the loan term was in BTC but not in USD. KWH already tried to make you understand about this fact.
You are just considering your own perspective and trying to force that to all other members. But try to see from zazarb's perspective and calculate zazarb's loss.
As far I have understood that the loan repayment amount was
BTC0.65 and you paid back
BTC0.455 until December 2017. So the due amount is
BTC0.195, right? (Ref post #2)
If you had paid the due amount in December than zazarb could have profited a good amount of money (
BTC0.195 * $19k = $3,700). But if you pay just right now than zazarb already lost $2100+.
I showed the USD profit & loss of zazarbs' because you are calculating in USD, whereas it should not be the case of USD term. You are just disagreeing with the
"agreement" made during loan procedure.
I can feel your pain, I may felt the same, but the agreement is agreement and it cannot be changed at any cost. If it can be changed from one party, then what is the reason of
"agreement"?
The only way you can solve this case is negotiating with zazarb, ask him for time, ask him to lower the due. If you ask for the time then don't forget about BTC price rise again, you already got caught once.
I'm wondering why you didn't take the opportunity in recent days to buy the BTC when it was fallen below $6k? In my opinion, that was your golden chance and you missed that.
What will you do if BTC price goes back to Everest again?
As far I read out the first page and if I didn't miss anything (so many big posts), zazarb haven't charged you anything yet on top of the agreement. Don't you think it is enough what zazarb did.
I hope you guys will come to a negotiation to end this case soon.