What OP fails to understand is the meaning of collateral.
1. Collateral is something that the lender can easily sell to recoup his loss in case that you default - your app can't be easily sold for the amount you're asking.
2. Collateral is something that you will no longer have during the loan period - you still have the app code so you have no incentive to pay back the loan.
3. Collateral is something that can't be recovered by you by any means - you can recover it by social engeneering.
What you are offering is nowhere near considered as collateral.
If you understand this, please offer something valid as collateral. If you don't have a valid collateral than please lock your thread.
If you continue to push this, then the only logical explanation is that you are trying to scam.
1. Collateral is something that the lender can easily sell to recoup his loss in case that you default - your app can't be easily sold for the amount you're asking.
2. Collateral is something that you will no longer have during the loan period - you still have the app code so you have no incentive to pay back the loan.
3. Collateral is something that can't be recovered by you by any means - you can recover it by social engeneering.
What you are offering is nowhere near considered as collateral.
If you understand this, please offer something valid as collateral. If you don't have a valid collateral than please lock your thread.
If you continue to push this, then the only logical explanation is that you are trying to scam.
Thank you so much for explaining this so clearly.
I understand now that my app/s can't be considered collateral since it isn't that easy to sell them (it is possible though!) even if they're worth more than the loan amount.
As for the app code, I can give that too to the lender alongwith a signed NDA and Non-compete clause in it. But I understand that it still can't be considered 100% "non-recoverable".
BTW, what is "social engineering"?!
Off-topic question: Why isn't USDT (Tether) or TrueUSD considered as collateral by the community?... They too are 'quasi-crypto' coins and can be liquidated if loan is defaulted on, then why isn't anyone on this lender topic offering them as collateral? ... Are they banned as collateral?
Even if it is possible to sell the app, this can't be done in a timely manner. This is essential for the lender, because in the event that BTC start to rise, you have to top up the collateral to maintain the agreed margin. If you fail to do this, the lender must quickly sell your collateral to avoid a loss. This is the reason that most altcoins used as collateral are keept on exchanges with a stop loss order.
A signed NDA and Non-compete clause have absolutely no value here. This is because in the event of a misunderstanding between you and the lender, he must take you to court to resolve the issues. Absolutely no one here will go with this.
Social engineering means a form of hacking that doesn't have anything with coding, but uses people instead. For example, I can call a company and pretend to be the owner of an account. If I manage to trick them to give me access to the account, than this is called social engineering.
In your case, you really are the true owner of the apps, and even if you transfer them to someone else, you can call them and state that your computer was hacked. This is much more frequently than you think so this is the reason that most online account are not considered collateral.
For the off-topic question, I don't know why.
