Quote from: kenji on May 14, 2018, 03:19:31 PM

Quote from: Parodium on May 14, 2018, 03:14:08 PM

Quote from: kenji on May 14, 2018, 02:50:54 PM

Quote from: Parodium on May 14, 2018, 07:19:08 AM

Quote from: kenji on May 14, 2018, 02:48:52 AM

Loan Amount: 1BTC
Reason for Taking out a Loan: Investing, no banks will give me a loan because banks hate bitcoin right now
Amount to be repaid: 1.08BTC
Repayment Date: 6/01/18
Type of Collateral: gold bullion, 8% interest sent upfront along with 110% collateral, insured shipping both ways paid for by me
Bitcoin Address: 1Q9vMET9xzgT4rBaiaojhPUAJmwq7ufV3C

Sorry, 110% collateral isn't enough in this scenario, I would consider 125% using the scrap value of the gold. Shipping would be to the UK.

I can do 125% and ship to the UK. I can get them out later today. Also, they're 1 oz gold bars, still sealed in their assay cards, so I wouldn't necessarily call it "scrap gold", but you can easily look up the spot price for gold and that is what you could get if I did default on the loan, which I won't. Let me know if you have any further questions, if not please do give me a name and address to ship it to. Thanks.

Could you please indicate how many ozs of gold you intend to provide as collateral, so I can calculate their sale value here in the UK. Also, do the assay cards come with a certificate of authenticity? I hope you are aware that shipping such a high-value item both ways won't be cheap.

I understand that shipping won't be cheap but like I said, banks refuse to give business loans to anything regarding crypto. 125% collateral plus 8% interest would be 1.33BTC or $11,600. The spot price of gold is the same everywhere in the world, right now it's $1320. That would be 8.78 1 oz bars, but I can round up and send 9 1 oz bars as a show of good faith. The assay cards have a QR code on the back built into them that you can scan with a smartphone and it'll pull up information from their database on them.

PM incoming.