Re: Medium Loan Request - 10-15% Interest, 30-45 days, Collateral and Escrow
Your points may be understandable to a degree, but not reasonable if you consider both sides of the deal.
The issue I am addressing is that there is not only severe volatility in the markets, but also severe manipulation, outright fraudulent practices that makes the normal 'market' rules almost void in realistic terms.
The issue I am addressing is that there is not only severe volatility in the markets, but also severe manipulation, outright fraudulent practices that makes the normal 'market' rules almost void in realistic terms.
Not pertinent with the issue as I am about to explain in the next comment.
The fundamental issue of fair practice and balance in these deals must take such circumstantial conditions into account before considering what is legitimate and fair to both sides make the contract. In this case, the market situation makes the liquidation of collateral in case of its value drop (temporary or otherwise) an extremely risk for the one handing out the collateral. If the lender takes that into account, it is not hard to see how this deal can be made more fair if you discount the arbitrary liquidation as an option. There are risks and rewards at play, both decided at split second sometimes.
No one mentioned arbitrary liquidation but you.
Since this kind of deals usually uses an escrow (and it is fair to use one if the BORROWER is willing to pay his fees) rules are set at the beginning of the loan. Nothing is left to the arbitration of one party. On the opposite side by forbidding liquidation in case of value drop you introduce a risk factor which is, of course, inacceptable to the serious investor.
If btc value drops to a third of itself from the time when I start the loan while the collateral increases in price above that, do I somehow have the right to demand that the lender send the extra amount be sent?
Of course you do.
It's too bad some people simply cannot see past their juvenile understanding of how negotiations work
I understand that talking like this may provide some relief but do you really think that this will make things change? Three users have already called you on this practice, this approach defies every logic in the margin trading market. Professional services like BitFinex which, your words: "operate in these manipulative and volatile market" use EXACTLY the approach we are describing here.
Also maybe your should control the war setting on your keyboard before posting.
ME, Eisenhower34 and another user express the same concept, so if my understanding of the issue at hand is juvenile so is theirs. Calling others juvenile when you are into crypto business for less than a year is.... well, insert appropriate term here.
Apparently you conveniently didn't answer the part about the complications that come with starting down that road, though you might want to check yourself before mouthing off weak accusations next time
They didn't come through to 'support' you so much as you desperately latched onto them for 'help' when you couldn't get on your footing and never having anything to answer for all your mistakes up until now
Arbitration in this case is clearly about you deciding that something as one sided as market conditional liquidation is 'important' - clearly because it is in your favor while you are not quite so prepared to act on any of your 'claims' when I made offers otherwise. You weren't even willing to use an escrow, and when that was slapped down, you got uppity enough to ask for liquidation on the collateral in the event of it being in disadvantage for you - something that you failed to even read in the first place. After that was not done, you started bitching and publicly posted contradictory statements in regards to your attitude towards anything related to this offer - based on nothing more then any desperate excuse you could scrounge up (wikipedia definitions HAHA) and obviously little experience in negotiations or trading.
Now that some people are voiced their opinions, you latch on to them and pretend they are 'supporting' you
They are not here to argue for you or your position - only to discuss and clarify the deal details. No serious investor would think of you as anything more then a boy playing at a man's game since it's obvious you are trying to find any excuse to bitch and moan.You mouthed off, and is now paying the price for not knowing your place. Everyone else I am happy to explain the side of this deal squarely. You tried to check out like a bitch and came crawling back to see if anyone gave you 'support' how many times now?
Bitfinex professional? LOL you clearly have no idea what professional service means. You also have no idea what kind of corruption and back room dealings go on in crypto exchanges.
This lips for spine fool registered over 4 months later then myself, trust rating with lower history and sent feedback full of whining excuses and mouthy insults, thinks he can talk about 'experience'
Maybe you should learn to watch yourself before trying to give attitude where you are in over your head.
You don't try to substitute 'concept', one which you clearly do not understand, to hide behind for your obvious lack of backbone in standing by your initial position which was nothing more then a pathetic attempt at mouthing off at others
Keep coming back to the thread to get thrown down on the floor again and again because you can't find a face saving excuse to sneak out as you said you would at least 8 times now - it's providing some good entertainment while the deals are discussed and finalized.
Now get to your day job serving others - maybe they will throw you some crumbs now and then.
All feedbacks welcome, little crumbs for whores like you