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3B loan Uncollateralized 10% 1 month (Previous Loan Info Provided)
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Elgon Smitehand
The Scope
Gallente Federation
#1 - 2017-04-14 15:28:59 UTC  |  Edited by: Elgon Smitehand
Hey guys. Its Elgon again looking for another loan. This loan will be used like the previous one to expand my station trading, LP buying, PI Factory Planet setup, and logistics for all of the above. Some of it may go towards potentially investing in some new characters as well. Currently I'm sitting at around 20-30B in assets.

The loan will start from the date both people have confirmed the loan to be on and it will end on the exact same day next month. I will be receiving 3 Billion ISK and paying 300 million extra for a total of 3.3B at the end of the month.

I do realize there have been a lot of scams recently and some of you guys may not want to invest 3B in one person. If you want to figure out something else, just eve-mail/convo me in-game. I am active in SCC-Lounge practically every day and there are probably many people there who can vouch for me, if not my chat-spamming capabilities. You may have seen my alts as well.

Previous Loans
Loan 1
Loan 2
Keno Skir
#2 - 2017-04-14 17:01:30 UTC
How come no collateral?

Black Lanterns Blog <- Read my ramblings -.-

250,000 Bonus SP when you start an Alpha Clone HERE <---
Elgon Smitehand
The Scope
Gallente Federation
#3 - 2017-04-14 17:24:26 UTC
Keno Skir wrote:
How come no collateral?

I have previous uncollateralized loans and an active member of the community? Anyways, all my assets are investments that I'm not willing to give up even temporarily.
Myfluga
Inner Legacy
Pandemic Horde
#4 - 2017-04-15 07:00:37 UTC
LMAOOOOO PRICELESS LOOOOOOOOOL
Elgon Smitehand
The Scope
Gallente Federation
#5 - 2017-04-15 17:23:18 UTC
Myfluga wrote:
LMAOOOOO PRICELESS LOOOOOOOOOL


Wait, aren't you the Mittani?
lanyaie
Nocturnal Romance
Cynosural Field Theory.
#6 - 2017-04-15 19:25:11 UTC
400m loan > 500(1.1b) > 3b

Convince me this isn't just you trying to go as high as you can before cashing out?

Spaceprincess

People who put passwords on char bazaar Eveboards are the worst.
Elgon Smitehand
The Scope
Gallente Federation
#7 - 2017-04-15 22:25:16 UTC  |  Edited by: Elgon Smitehand
lanyaie wrote:
400m loan > 500(1.1b) > 3b

Convince me this isn't just you trying to go as high as you can before cashing out?


Alright, I've been thinking over this comment a lot and here's the best response I can get. At first I was somewhat annoyed by this post but I've thought over it since then.

So my question would be tell me what I should do. Should I keep doing tiny 500 million loans that barely net me any profit? Should I go directly to a 10b loan that would be of most use to me but no one would fill? It seems like two vices and and a virtue. On one end, these loans aren't worth doing for me because of their minuscule size. On the other end, I could make a large loan that no one would trust me to fulfill. I tried to find the middle ground of 3b which is only 10% of my net worth. I don't think these MD regulars like Norn and Anathema became trustworthy instantly. You have to work your way up to get those 25B bonds and such. One clear note that I am doing this is the collapse in interest rate on my loans. The first one was 20%, the second one was 15%, and this one is 10% appropriately.

Secondly, I do have an active personalty. This might not stand for much to you but let me try to explain it the way I see it. On one hand, there are people like Myfluga (Loan Link Here) who have gotten similar successful loans without a MD presence beforehand, although admittedly, he is active on SCC-Lounge and the TVP incursion community. He is admittedly a cool guy and this is in no way meant to be degrading, its just an example. On the other hand I have previous successful loans and MD posts dating far back. Also, if you go on SCC-Lounge you will find people there who know me, probably for my spamming chat style. Big smile

To sum it all up, I feel like people are somewhat overreacting because of the recent scam. In my opinion, the investor should never have invested in the first place. It was screaming scam to me just as many others. However I do realize why he invested and I applaud him for trusting in humanity. However, my point is that people don't realize is that if you weigh the risks and invest in MD loans appropriately, you will net a profit. I want you to realize I know that I am talking to an experienced veteran with much more experience I have myself, and I completely respect your opinions.
Elizabeth Norn
Nornir Research
Nornir Empire
#8 - 2017-04-15 23:23:43 UTC  |  Edited by: Elizabeth Norn
Elgon Smitehand wrote:
I don't think these MD regulars like Norn and Anathema became trustworthy instantly.


For what it's worth I think that my first public uncollateralised loan was for 100b, but I had spent a couple of years trading, posting, and socialising before that. The ladder of escalating loans has been proven, both in theory and practice, to not really be a guarantee of legitimacy.

It's a tough situation, and I don't have a clue how to improve it.

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Jerry T Pepridge
Meta Game Analysis and Investment INC.
#9 - 2017-04-16 00:43:56 UTC
Elizabeth Norn wrote:

It's a tough situation, and I don't have a clue how to improve it.


blind faith.

I pledge 500m, pending you can fulfill the requirements of Pepridge Trust.

@JerryTPepridge
Elgon Smitehand
The Scope
Gallente Federation
#10 - 2017-04-16 01:48:51 UTC
Jerry T Pepridge wrote:
Elizabeth Norn wrote:

It's a tough situation, and I don't have a clue how to improve it.


blind faith.

I pledge 500m, pending you can fulfill the requirements of Pepridge Trust.


I'm like 98% sure this is a troll...
cisea
Ministry of Furious Retribution
Fraternity.
#11 - 2017-04-16 07:02:00 UTC  |  Edited by: cisea
Why the overall defensive attitude, snappy comments, and holier-than-thow vibe? You're asking people for their money. Dunno, maybe dont be a ****?
Elgon Smitehand
The Scope
Gallente Federation
#12 - 2017-04-16 16:03:05 UTC  |  Edited by: Elgon Smitehand
cisea wrote:
Why the overall defensive attitude, snappy comments, and holier-than-thow vibe? You're asking people for their money. Dunno, maybe dont be a ****?

I don't think any of my comments besides the first one have been snappy, but this one is sure gonna be. To start off, Myfluga and I are acquaintances who like to mess around with each other. Secondly, I tried to explain my thought process calmly and thoroughly in response to the Lanyaie's comment and as I said, I completely respected his opinion. And for Jerry's comment, it was supposed to be a joke but I guess you didn't take it like that. I'm probably going to end up applying for his trust anyways. I'm impressed by the time and effort you have put in to posting here. I give respect only if it's deserved.

One final note, looking back, if you are reading this Keno Skir, my apologies to the response I gave you. It was not well thought out and it was disrespectful.

Edit: I will not be responding to any other comments like this as it only angers me and devolves this thread into a chaos that some enjoy with popcorn. Smile
Ralissinda
Move along there is nothing here
#13 - 2017-04-17 00:45:11 UTC
WOULD LIKE PLEDGE 625 MILLION
Karmen Baric
Doomheim
#14 - 2017-04-17 04:04:31 UTC
Il pledge 3B once JitaPu agrees to pledge me 3bn
Elgon Smitehand
The Scope
Gallente Federation
#15 - 2017-04-18 22:25:43 UTC
Ralissinda wrote:
WOULD LIKE PLEDGE 625 MILLION

If you are serious, contact me ingame. If not, well, this loan is still open.
Solonius Rex
Federal Navy Academy
Gallente Federation
#16 - 2017-04-25 18:07:00 UTC
Elgon Smitehand wrote:


To sum it all up, I feel like people are somewhat overreacting because of the recent scam. In my opinion, the investor should never have invested in the first place. It was screaming scam to me just as many others. However I do realize why he invested and I applaud him for trusting in humanity. However, my point is that people don't realize is that if you weigh the risks and invest in MD loans appropriately, you will net a profit. I want you to realize I know that I am talking to an experienced veteran with much more experience I have myself, and I completely respect your opinions.


Thing is, yours does too. Its a common practice to start out with small loans and build up reputation, then go for a big one and take the earnings away. Hindsight bias is 20/20, and if you were to post here "Thanks for filling the loan, now get fukt", someone else could easily come along and say "In my opinion, the investor should never have invested in this venture in the first place". You basically started small and jumped to a fairly larger amount in no time, which is why we are suspicious.

In other words, you are the textbook case of a scammer building up a rep and then running away with isk.

And yes, people consistently net a profit in these loans. Why? Because the person offers collateral. This minimizes the risk.

What youre asking us for is to put our blind faith in you and trust that you will offer back 3 billion isk.

An amount that will net you a 2.8 billion profit if you were to simply walk away.

Does it suck that you have to go up little by little? Sure. But thats called effort. If you want to make a **** load of isk with zero effort, go to an isk doubler. Otherwise, the rest of us work for our isk.

Honestly, if i were in your position, i would reach out to those who previously gave me a loan, and go up in increments with them.

On a side note, i thought you were into incursions? Didnt you make a shitload of isk?