Post
Topic
Board Lending
Re: Medium Loan Request - 10-15% Interest, 30-45 days, Collateral and Escrow
by
Honeypot
on 02/11/2014, 18:44:16 UTC
Can you be more specific as to what collateral you are offering? It is obviously alt coins, but can you be more specific as to what alt coin you can provide?

EDIT: @Watoshi-Dimobuto - escrow is to protect the borrower from you running away with his collateral either as soon as he gives it to you (and before you send him the loan) or after he pays you back.

I sent you a pm - certain details are confidential, but we are free to post here confirmations for public records when deals are sealed.
What is the collateral if I were to lend entire amount?

PM Sent. Verification and public disclosure to follow in case of deal being sealed.

Offer still on going.
Why does it need to be such a big secret as to what the collateral you are going to offer is? Also I see in your other thread from ~a month ago that you would not agree to have the collateral liquidated in the event the value of the collateral were to drop below the amount of the loan. This alone would be a red flag for me (even with your positive trust) as it would mean that you may not be able to repay the loan if the collateral drops in value by too much

Not every trader and investor is required to disclose all the details of individual transactions to any uninvolved persons in public. If some decide that certain details are to be confidential, then it's not your place to question their dealings as long as respective parties negotiate fairly and post public confirmations to that regard. If someone is interested enough to directly message me, of course they will be privy to the details upon tacit agreement that such information are kept confidential on all sides.

Also, liquidating the collateral option is one I rejected and continue to reject, simply because the sheer volatility of crypto currency makes this a very disadvantageous move. There are certain compromises and negotiable factors I am willing to consider, but anyone with a hint about investment and trading will understand such a clause in this environment is a great liability. Perhaps you also do not even think about the fact that I am essentially forfeiting any chance to capitalize on profits from the collateralized assets in the event they increase drastically in price. It's a trade off with risks and potential loss of profits for both sides involved - everyone is taking a risk in one way or another.

I do not understand why you would consider either of these 'red flags' aside from the fact that my policy regarding either situations simply does not play to your profits or comfort.

That's too bad - and it's also not your place to question them.

If you like to deal fairly and negotiate specific terms, feel free to send PM and we can discuss them. All are taking certain risks in these deals, and I try to reach the fairest deal possible.