[ANN] GreenPoints buy back. Project canceled

[tonyk]

1. GreenPoints are now only available at par from the issuer  (par is 1000 BTS/GreenPoint). All early bird discounts are gone, in other words.

2. The loan is most like a go!
This means if you get GreenPoints at par you get 10% premium on the loan rate (not that is so bad at 25%/year even without this premium, but still why leave money on the table?)

3. And probably most importantly, in the long run - GreenPoints are a potential share drop target. Not only they themselves are, but the accounts that held them before (this/first) loan is officially announced !!!
This simply means - if you buy GreenPoints now - you  get 10% better rate than the  25% annually on the loan [if you use them for that]  AND your make your account  a sharecrop target as if it held GreenPoints as of the share drop date.



[edit] spelling... what did you expect?

[tonyk]

Price updated.
Still a great deal at 985 BTS/GreenPoint (for 1000 BTS/GP par value).

Buy GreenPoints Now

[tonyk]

OK,
The current offer for GreenPoints will expire at the end of today [Greenwich Time].

Buy GreenPoints Now

[pc]

Do you think, there might be  a market for P2P loans...even though banks provide credit for what...75%-90% of their creditworthy customers?

Actually I'm invested in P2P loans on a somewhat popular german platform, and I'll be glad when I finally get out of it. :-/

I know there are people out there willing to pay higher rates just to avoid cutthroat banks. And there are people out there who aren't found credit-worthy by banks, and still they manage to repay their loan. Unfortunately (for P2P investors), a single black sheep will eat up the profit from a busload of honest people. That's why the majority of P2P investors exit with a loss.

But that's getting off-topic...

[tonyk]

1. - Interesting. My attempt was definitely not at too good to be true rate. On the opposite - I was/am striving for a good rate for the lenders, but definitely not too good to be true. What is your estimate of a market rate on  a  loan in crypto backed by nothing more but pure trust alone?

I don't think there really *is* a market for crypto loans backed by trust alone.
But there is a market for loans outside the crypto world, and if you're credit-worthy you can get one for much less than 25%. If you're not - well, that'd be one more reason to not buy LoanT's.

Do you think, there might be  a market for P2P loans...even though banks provide credit for what...75%-90% of their creditworthy customers?


PS
well, my credit is at a healthy 807 Totally unrelated to this discussion however.

[pc]

1. - Interesting. My attempt was definitely not at too good to be true rate. On the opposite - I was/am striving for a good rate for the lenders, but definitely not too good to be true. What is your estimate of a market rate on  a  loan in crypto backed by nothing more but pure trust alone?

I don't think there really *is* a market for crypto loans backed by trust alone.
But there is a market for loans outside the crypto world, and if you're credit-worthy you can get one for much less than 25%. If you're not - well, that'd be one more reason to not buy LoanT's.

[xeroc]

@tonyk: please fix your affiliate link
https://bitsharestalk.org/index.php/topic,19999.new.html#new

[tonyk]

GreenPoint available for sale now

Par Value 1GP=1000BTS

An order to sell GreenPoint [GP] has been placed on the BTS DEX.
The first and only chance to buy Green points below par value -From the issuer.

What are green Points? –This is mostly explained in the opining post but quick refreshment.

- GPs are my personal token giving you 10% discount on everything I accept payments for.

-GPs are particularly useful if you intend to buy into the LoanT – the loan I intend to offer. Using GP you get 10% better deal on that loan.

-If for any reason you decide to cash out of the loan above, and want to get first in line -  GreenPoints are  worth 3 times its par value for that purpose.




I do expect the main buyers of the GP, at this point, to be people interested in financing the LoanT loan. In that regard if the loan cannot be financed to any sufficient amount, or is decided to not be launched at all, all GreenPoints bought in the next days (before the loan is officially announced) will be given a chance to recoup their money ( and then some in most cases). This will be done in the following manner  -A buy order will be place so that any such GreenPoint bought, can be sold at 1020 BTS/GP – effectively covering any fees for any purchase bigger than  1 GP.

Current offering will not last long – I do not know if it will be 15 min, couple of hours or a day, but... not for long. 
Buy Here

[tonyk]

There are two reasons why I wouldn't buy your LoanT's. Just to be clear there, your reputation is not one of them. :-)

1. What I've learned (the hard way) is that when something sounds too good to be true, it usually is. 25% is way above market rates, it is probably not economically viable and therefore unrealistic.
2. More importantly, you want to take the loan in BTS, which is highly volatile. This turns the whole thing into a lottery in which I could only lose: either BTS drops in value (good for you, bad for me), or BTS rises significantly in value, in which case you'll most likely go broke because you can't repay. Bad for both of us (but worse for me).

Good luck anyway. :-)

Tanks for what I consider the first constructive criticism in this thread.
1. - Interesting. My attempt was definitely not at too good to be true rate. On the opposite - I was/am striving for a good rate for the lenders, but definitely not too good to be true. What is your estimate of a market rate on  a  loan in crypto backed by nothing more but pure trust alone?

2. This assumes I will exit out of BTS. Which I might for a small percent, as far as true exits go[to say USD]. The rest of this 'exits' as much as they happen, will be in projects closely related to BTS and mostly denominated in BTS. And all those will quite likely be offset by getting longer in BTS.


Closely pertaining to both is something I wanted to mention in general in this thread, and not only to you pc.
While remaining in my possession, I will take the full benefits of owning those coins. I in no way promise to share any of the  benefits associated of having them in my account, the same way I do not promise to share the benefits of actively using them. In other words, they are just mine for all practical purposes; In addition I have an obligation to return the  amounts  equal to the received one plus interest on the promised schedule.

[pc]

There are two reasons why I wouldn't buy your LoanT's. Just to be clear there, your reputation is not one of them. :-)

1. What I've learned (the hard way) is that when something sounds too good to be true, it usually is. 25% is way above market rates, it is probably not economically viable and therefore unrealistic.
2. More importantly, you want to take the loan in BTS, which is highly volatile. This turns the whole thing into a lottery in which I could only lose: either BTS drops in value (good for you, bad for me), or BTS rises significantly in value, in which case you'll most likely go broke because you can't repay. Bad for both of us (but worse for me).

Good luck anyway. :-)

[tonyk]

Yes...I will to the extend that Tuck can get any info on me.

I'm waiting on onceuponatime to send me a copy of your DL.

You already posted my photo, so go ahead and image search me

Will you be disclosing any personal information (as in full name, address, etc.)?

I have a pic of him, hope it helps!

[tonyk]

Smart contract or trust based loan?

Pure trust.

[tonyk]

I'm interested in learning more about the brick and mortar businesses you mentioned.

The first one will be software development, outsourced out of US, of application specific wallets running on top of BTS (and potentially Eth if all goes well with them). The whole point is the end user does not need to know about the specific technology running underneath the surface of their app, website etc. And the potentially first use case is pure P2P lending.   Another wallet is for the second business of mine, for which I cannot say more than - it might be a competitor of  BunkerChain labs, at least to one of their potential solutions:  http://www.bunkerchainlabs.com/solutions/

[Tuck Fheman]

Yes...I will to the extend that Tuck can get any info on me.

I'm waiting on onceuponatime to send me a copy of your DL.

[carpet ride]

Smart contract or trust based loan?