Not agreeing to the terms that are in your favor does not make the deal a 'scam'.
Title states collateral will be provided when it is not ---> scammy behaviour. Offered deal is extremely dangerous.
The collateral value overtime is not a consideration in whether I pay or not - I must pay, because you are supposed to pay back your loans no matter what. Am I missing something here?
Yes. The purpose of collateral is to insure the lender against the borrower. For more benefit please read here:
http://en.wikipedia.org/wiki/Collateral_(finance)
To call this standard arrangement a 'scam' because it did not settle in your favor - what a joke. You apparently think loans are supposed to be 100% in your favor and know nothing about how deals like these work. It's a trade off, and 3rd party escrow acting as the insurance against fraud - an option that I favor.
Beginners tend to mix LOAN with INVESTMENT. Is this a loan request or an investment opportunity? Secured loans are supposed to be 100% in the favor of the lender unlike an investment which exposes both parties to risk.
Please check it here:
http://en.wikipedia.org/wiki/Loan --- under SECURED section.
You try to cater serious investors, please act accordingly.
What are you even talking about? Collateral is always provided, and has been provided to austin already via maidak holding them as he publicly confirmed.
Next time you want to be taken seriously, understand the difference between 'insure' and 'hand over the money without escrow and trust someone not to steal your collateral'.
Secured loans do not favor the lender 100% - there is no such arrangement in financial deals, only a difference in balance of advantage and disadvantage, especially in the crypto scene. I offer the best and fairest arrangements I can and will support all trusted 3rd party escrow to hold the collateral for my client exactly for any contingencies in loan payment.
You obviously have been burned one too many times with your amateurish attempts at investments and loans, and now want to blame anyone for your grossly ignorant understanding of how financial deals work.
Your history and mine contrast very differently. No one will miss the difference, and especially your lack of proper attitude in engaging other members based on your supposed expertise borrowed from wikipedia about lending practices for different environments.
Serious investors would not be able to comprehend exactly what you are complaining about when you yourself admitted never reading enough to see what I publicly posted and explained.
I could loan a portion of the request to you, but I do not accept escrow and collateral must cover at least 110% of the loan, 120% is better for your safety.
Of course if the altcoin provided rises significantly in value I'm willing to send it back a portion up to the original value coverage... it is not my desire to hamper your trading efforts by devoiding you of liquidity.
PM me if interested.
Notice the fact that he asked for no escrow and simply handing over the collateral directly, when I specifically stated 3rd party escrow being essential.
Why would anyone refuse a 3rd party escrow we can both agree on?
Especially when many of his negative feedbacks against others emphasize importance of escrow?
Full of holes and full of lies. Most people didn't even bother with this type of behavior, but it's time you are called out on your mouth.
Offer ongoing, 4.5 btc left to fill with appropriate collateral held by escrow.
