50 btc... :)

I'm not the one who set terms I couldn't afford. When it was "only $15" then $15 would have taken care of it, no? The bed has been made, I'm just holding him to it.

Did you both agree on those enormous interest rates or did you invent them after the fact? Just curious :)

Not sure if you read the thread, but it was 100% return for a one-day turnaround. Those were his terms, not mine. I'm being nice by not actually asking him to double the amount every day. If that were the case, it'd be quite large by now.

Unless you're just trolling? In which case, troll on.

Not trolling, even loan sharks do not take that much interest :)
I actually thought you were joking, but it looks like you are serious.. LOL

Not sure what you mean here. This was a one-day loan that he failed to pay. It then became a series of one-day loans that he's paying back. I am not charging him any interest. Just the one-day loans themselves, which he set the terms of. Not really a complex thing to wrap your head around.

If I charged interest at the rate he suggested originally, it'd be a very large number by now. I'm choosing NOT to do that.

He's standing up and doing the right thing, saying he's not a scammer. We need more guys like him.

how would you call someone trying to squeeze 1.7btc from a .1 btc loan?
all he said was he will pay you back .2btc, "tomorrow".

Paid yet?

So you'd charge ... what? As far as I'm concerned, he doesn't need to pay anything. He's taken it upon himself not to be a scumbag, though. I salute his honesty.

It sounded like you were charging him 100% interest on the initial loan every single day. Like +0.1BTC for every day. Nothing like that was agreed (unless you spoke with him in private).
Usually interest for late payments are being agreed upon while making the deal. You can not invent your own interest terms afterwards, especially that ridiculously enormous.

Imagine he would have said "I will pay you back double the amount in an hour". Would you charge him extra 100% for every late hour? 2400% for one late day? According to your logic you would..

No, the original agreement was to double the money in a day. That'd mean ...

1: .20
2: .40
3: .80

... and so on, to day what .. 18 days late so far?

He decided to just pay 0.10 per day loan, which is fine with me. He's trying to be an honest guy, I'm not sure why it's so hard to wrap your head around why I'm forgiving 90% of his debt -- he's doing the right thing, so he shouldn't be punished. He's just doing a .10 BTC per day loan, which is fine as long as he needs it. It's not my business, as long as he pays.

Sounds like "BitCoin" is a marketing ploy by the graphics card companies, to increase sales and prey on those looking to make "money" online.

"Yeah dude, I work on the internet, yeah.. I got 6 new graphics cards that are mining virtual money bro... I can like.. but digital stuff with it. and like trade it.. and stuff.. "

No, the original agreement was that he would return you 0.2 BTC in a day. No ongoing doubling, no ongoing anything.
This is more than ridiculous. I mean even that +0.1Btc for every late day is ridiculous, not to speak about that doubling of 0.2 0.4 0.8, which is out of space nuts... How could you even imagine that that was the initial deal is beyond comprehension.

Yes, that'd be how I'd figure it. If I loaned you money on an hourly basis, and you paid me back 18 hours late, I'd expect 18 loan periods to be paid off. Our agreed period is one hour. If you borrow it for two hours, you'd be paying me for two periods of one hour each.

If you're doubling my money in a day, I'd break it down like this:

Day 1: 0.10
Day 2: 0.20
Day 3: 0.40
Day 4: 0.80
Day 5: 1.60
Day 6: 3.20
Day 7: 6.40
Day 8: 12.80
Day 9: 25.60
Day 10: 51.20
Day 11: 102.40
Day 12: 204.80
Day 13: 409.60
Day 14: 819.20
Day 15: 1638.40
Day 16: 3276.80
Day 17: 6553.60
Day 18: 13107.20

Sorry, I would have responded to you in my original reply, but you went back and edited this part in afterward, so I needed to reply separately.

I didn't come up with it. :thumbsup

In any event, what do you think is fair, when it's 18 times the amount of time of the loan? That'd be like paying back a 30 year mortgage in 540 years. What would be fair for that amount of extension?

Headed out with friends for the night; excuse my lack of replies!

Hahaha, I didn't have the heart to let you twist in the wind this long .. I'm heading out, but I just had to pop back on so you didn't wait until tomorrow. I had planned to take you down an even more ridiculous path, but just don't have the heart.

I'm fucking with you, dude. ry0t is working it out in his own time, in his own way. He's already agreed to terms.

I wouldn't give this dude a single penny. In case I did I wouldn't expect it back. If I got back the original payment, I would of been happy, if I got 2x the payment, I would of been more then happy, but I would never in my life would even think of hustling the poor guy for a extra few btc. If thats how you put bread and butter on your table good luck to you, but karma is a bitch.

Both of you will be taken care of like I said. I will pay you guys more in fact. Its just I havent made any deals recently from my business but I could give you guys .07 each right now on top of the .13 ive given you. I just didnt feel that was good enough.

Paid another .07 each for now bringing each total to around .17 to .22

That pays off our original deal. I'm satisfied if you are. :thumbsup

Sorry again you ran into troubles paying it back, and thanks for helping me have a little fun with some of the less intellectually-endowed population here. :1orglaugh