Quote from: DarkStar_ on January 02, 2019, 08:43:12 PM

Quote from: Hatcher_alt on January 02, 2019, 07:54:33 PM

Anyways, interest is still active on this loan, and the total repayable amount will exceed the collateral value before this year ends at which point I will have a right to ask for the collateral to be transferred to me.

No.

Quote from: Hatcher on May 05, 2018, 03:49:04 AM

Similar terms to what the other lending providers stipulate. I would ask that you top up the collateral if the collective value falls below .55 BTC, and if I don't hear from you and the collateral keeps dropping (to below .5 BTC) I would ask DarkStar to sell the collateral (the excess amount above .465 BTC would be returned to you, of course).

Most lenders require collateral for the principle amount, not interest. This is consistent with my lending service, m0gliE, shasan, grtthegreat, Crypto Capital. zarzab, condoras, Parodium and Lone Shark do not have a liquidation term (other than when default). Your request is not similar to what other lending providers offered, and I do not believe this term was stipulated and agreed on prior to the loan taking place. Please let me know if I am incorrect. Additionally, I cannot find a single service that requires collateral for principle + interest.

Thread archived for future reference.

I'm not trying to change the terms. I thought that was just the standard way things were done here. Though I typically don't think it would ever be enforced, certainly not with a communicative borrower, it is fair and it is the way it works on margin funding platforms. How else do you prevent a situation such as this? An inactive borrower goes by the wayside, and the lender's money gets stuck in limbo until the value eventually drops to the principal amount (or right above it), at which point the collateral finally gets liquidated and the lender gets just that and no interest.

The problem with this loan's terms is that there is no "end date". Part of the terms were that he can extend the loan if he needs to. I took this loan because I saw his loan history and he always paid back the loans without any huge extensions required. But this loan has been extended... for 8 months with no sign of it ending any time soon.

Max signs in once a month and pays no attention to this thread. I'm lenient, I can work with Max (if he reappears), but obviously I want some interest. There are many different things that I could've done with this money. I could've simply lent it on Bitfinex, which provided great daily rates on numerous occasions through the course of this loan. Do you think it's fair that I just get the principal back after such a long-standing loan? Because that is what will happen if Max is gone.