For the $7500, you will receive a return of $8500 paid over 6 months (monthly @ $1416.00 per month), as well as 20% of all Bitcoin mined, paid out daily or weekly for the life of the operation.
So regardless of how the business venture goes the person who provides the loan will receive $8500 back over the next six months?
Any default, a local lawyer would be happy to help you.
"You can't sqeeze blood from a stone".
If you default, it would cost more than $7500 to even get you to pay back 1/10th of the debt you owe, and that's if the investor is lucky. No lawyer will touch a bitcoin default and trying to get the money back would be impossible. You have a car as your primary asset, and no liquid assets. In other words, if you default on your obligation, no force in the universe will make you pay it back.
I put you as a 90% chance of defaulting on this obligation. Why?
- You are trying to make BTC by mining, which will almost certainly fail (based on probability).
- You are making promises that don't make sense.
- If you can afford to pay back $8500 back in 6 mths, why on earth won't you borrow funds from a local bank and pay a fraction of that in interest instead?