Tulkas



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Sr. MemberActivity: 352Merit: 250Founder, BTCJAM [ANN BTCJam] - Secured Loans February 26, 2013, 09:21:44 PM #1



You can now invest in loans secured by



To link your account with BTC-TC go to dashboard->assets.



[]'s

Hello,You can now invest in loans secured by https://btct.co/ assets. It the borrower defaults the assets are used to pay the debt.To link your account with BTC-TC go to dashboard->assets.[]'s

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thoughtfan



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Hero MemberActivity: 602Merit: 500thoughtfanwritesstuff.wordpress.com Re: [ANN BTCJam] - Secured Loans February 28, 2013, 09:53:51 AM

Last edit: February 28, 2013, 01:57:49 PM by thoughtfan #6



It'll be a couple of years before I want to put down a deposit on a house and when that time comes along it would be useful to be able to have access to the required GBP without having let go of my BTC!



Is this business model dependent upon the value of the BTC going up relative to the loan or if it drops will borrowers need either to repay or increase their BTC holding to cover the loan?



All the best to you with the venture.



Edit: Ah, looking again it would seem I got the wrong end of the stick. We're talking about Bitcoin loans on Bitcoin assets not about using Bitcoin as an asset against a fiat loan. I guess that one is a while away yet.

Brilliant, I was wondering when something like this might come alongIt'll be a couple of years before I want to put down a deposit on a house and when that time comes along it would be useful to be able to have access to the required GBP without having let go of my BTC!Is this business model dependent upon the value of the BTC going up relative to the loan or if it drops will borrowers need either to repay or increase their BTC holding to cover the loan?All the best to you with the venture.Edit: Ah, looking again it would seem I got the wrong end of the stick. We're talking about Bitcoin loans on Bitcoin assets not about using Bitcoin as an asset against a fiat loan. I guess that one is a while away yet. Please disregard Litecoin and Zcash badges to the left. I have just gathered they are an April fool's joke!

scrybe



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Sr. MemberActivity: 350Merit: 250 Re: [ANN BTCJam] - Secured Loans February 28, 2013, 01:36:27 PM

Last edit: February 28, 2013, 01:49:01 PM by scrybe #7 Quote from: Tulkas on February 28, 2013, 02:26:17 AM Quote from: Monster Tent on February 26, 2013, 09:30:17 PM



I like how the shares are transferred into a new account and locked for the duration of the loan.

Nice workI like how the shares are transferred into a new account and locked for the duration of the loan.

Thanks

Thanks

Do dividends still flow properly to the owner, or do they pay to BTCJam? Are they held in Escrow? If so can the loan be paid from the escrow?



Is collateral released as the loan progresses, or is it all locked away until repayment?



What happens if the value of the collateral declines? Nothing? Forced Sales? Loan Acceleration? How about if the collateral appreciates significantly?



Are mining bonds and other asset classes guaranteed to depreciate discounted based on the loan period?



EDIT: added more questions, there are plenty unanswered, but as a lender and a borrower I'm excited to see some collateral!

Do dividends still flow properly to the owner, or do they pay to BTCJam? Are they held in Escrow? If so can the loan be paid from the escrow?Is collateral released as the loan progresses, or is it all locked away until repayment?What happens if the value of the collateral declines? Nothing? Forced Sales? Loan Acceleration? How about if the collateral appreciates significantly?Are mining bonds and other asset classes guaranteed to depreciate discounted based on the loan period?EDIT: added more questions, there are plenty unanswered, but as a lender and a borrower I'm excited to see some collateral! "...as simple as possible, but no simpler" -AE

BTC/TRC/FRC: 1ScrybeSNcjqgpPeYNgvdxANArqoC6i5u Ripple:rf9gutfmGB8CH39W2PCeRbLWMKRauYyVfx LTC:LadmiD6tXq7gFZvMibhFUZegUHKXgbu1Gb

Akka



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LegendaryActivity: 1204Merit: 1001 Re: [ANN BTCJam] - Secured Loans February 28, 2013, 01:49:48 PM #8 Cool,



that can indeed be a win-win Situation as I imagine people will be much more likely to invest in a secured loan, even if it pays significant lower interests. All previous versions of currency will no longer be supported as of this update

seer



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NewbieActivity: 50Merit: 0 Re: [ANN BTCJam] - Secured Loans April 21, 2013, 01:35:09 AM #13 Quote from: scrybe on February 28, 2013, 01:36:27 PM Do dividends still flow properly to the owner, or do they pay to BTCJam? Are they held in Escrow? If so can the loan be paid from the escrow?



Is collateral released as the loan progresses, or is it all locked away until repayment?





I have those same questions but i have not found an answer any where. I am very interested in using this but my shares are bonds that pay out daily so i want to know what happens to the dividends. I have those same questions but i have not found an answer any where. I am very interested in using this but my shares are bonds that pay out daily so i want to know what happens to the dividends.

Tulkas



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Sr. MemberActivity: 352Merit: 250Founder, BTCJAM Re: [ANN BTCJam] - Secured Loans April 21, 2013, 02:56:42 AM #14 Quote from: seer on April 21, 2013, 01:35:09 AM Quote from: scrybe on February 28, 2013, 01:36:27 PM Do dividends still flow properly to the owner, or do they pay to BTCJam? Are they held in Escrow? If so can the loan be paid from the escrow?



Is collateral released as the loan progresses, or is it all locked away until repayment?





I have those same questions but i have not found an answer any where. I am very interested in using this but my shares are bonds that pay out daily so i want to know what happens to the dividends.

I have those same questions but i have not found an answer any where. I am very interested in using this but my shares are bonds that pay out daily so i want to know what happens to the dividends.

Hello,



The BTCTC API does not provide an automated way to calculate dividends, they will be sent to you at the end of the loan (as soon as they provide a way to calculate the dividends I can transfer then automatically, perhaps you can ask then for the feature too ).



(for now) The collateral is released at the end of the loan (but you made a good point). Hello,The BTCTC API does not provide an automated way to calculate dividends, they will be sent to you at the end of the loan (as soon as they provide a way to calculate the dividends I can transfer then automatically, perhaps you can ask then for the feature too).(for now) The collateral is released at the end of the loan (but you made a good point).

https://btcjam.com BTCJAM - Peer to Peer Bitcoin Lending

teal777



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NewbieActivity: 7Merit: 0 Re: [ANN BTCJam] - Secured Loans April 30, 2013, 10:03:32 PM #15 This is a great feature! I linked my account and the update of assets is smooth.



One suggestion - it would be helpful to be able to set a certain % collateralization of the loan. For example, if I have 25BTCs of shares in my btct.co account and I am taking a 1BTC loan on btcjam I would like to collateralize the loan, but maybe only up to 100% or 200% (so 1 or 2BTCs). That way the other shares stay in my account and I can trade them without having all my shares locked up.





Tulkas



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Sr. MemberActivity: 352Merit: 250Founder, BTCJAM Re: [ANN BTCJam] - Secured Loans April 30, 2013, 11:35:11 PM #16 Quote from: teal777 on April 30, 2013, 10:03:32 PM This is a great feature! I linked my account and the update of assets is smooth.



One suggestion - it would be helpful to be able to set a certain % collateralization of the loan. For example, if I have 25BTCs of shares in my btct.co account and I am taking a 1BTC loan on btcjam I would like to collateralize the loan, but maybe only up to 100% or 200% (so 1 or 2BTCs). That way the other shares stay in my account and I can trade them without having all my shares locked up.







You can do that!



When composing the listing you can choose what assets you will use as collateral. You can do that!When composing the listing you can choose what assets you will use as collateral.

https://btcjam.com BTCJAM - Peer to Peer Bitcoin Lending

teal777



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NewbieActivity: 7Merit: 0 Re: [ANN BTCJam] - Secured Loans May 01, 2013, 12:22:49 AM #17

[/quote]



You can do that!



When composing the listing you can choose what assets you will use as collateral.

[/quote]



Oh, great...I hadn't seen that yet, but that's perfect.



These are the types of innovative things that will keep BTC moving forward and keep attracting new users. [/quote]You can do that!When composing the listing you can choose what assets you will use as collateral.[/quote]Oh, great...I hadn't seen that yet, but that's perfect.These are the types of innovative things that will keep BTC moving forward and keep attracting new users.

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NewbieActivity: 15Merit: 0 Re: [ANN BTCJam] - Secured Loans June 02, 2013, 08:35:17 PM #18 Quote from: Tulkas on April 21, 2013, 02:56:42 AM Quote from: seer on April 21, 2013, 01:35:09 AM Quote from: scrybe on February 28, 2013, 01:36:27 PM Do dividends still flow properly to the owner, or do they pay to BTCJam? Are they held in Escrow? If so can the loan be paid from the escrow?



Is collateral released as the loan progresses, or is it all locked away until repayment?





I have those same questions but i have not found an answer any where. I am very interested in using this but my shares are bonds that pay out daily so i want to know what happens to the dividends.

I have those same questions but i have not found an answer any where. I am very interested in using this but my shares are bonds that pay out daily so i want to know what happens to the dividends.

Hello,



The BTCTC API does not provide an automated way to calculate dividends, they will be sent to you at the end of the loan (as soon as they provide a way to calculate the dividends I can transfer then automatically, perhaps you can ask then for the feature too ).



(for now) The collateral is released at the end of the loan (but you made a good point).

Hello,The BTCTC API does not provide an automated way to calculate dividends, they will be sent to you at the end of the loan (as soon as they provide a way to calculate the dividends I can transfer then automatically, perhaps you can ask then for the feature too).(for now) The collateral is released at the end of the loan (but you made a good point).

I had a loan that didn't fully fund (secured mtgox tied) so i canceled it . Shares were returned in a timely fashion but, I never received my dividends for the period. Elapsed time in escrow was 7 days or so ( 1 security pays a daily dividend).



That aside I love the secured loan feature on btcjam ! I had a loan that didn't fully fund (secured mtgox tied) so i canceled it . Shares were returned in a timely fashion but, I never received my dividends for the period. Elapsed time in escrow was 7 days or so ( 1 security pays a daily dividend).That aside I love the secured loan feature on btcjam !