BANKS offers LOANS. - page 3. | Bitcointalksearch.org

harizen

legendary

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For support ➡️ help.bc.game

Quote from: cabalism13 on July 28, 2018, 05:29:43 AM

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.

No it won't be beneficial at some point. With a hard price volatility that happening in cryptos since it's inception, it's hard to execute it. It's risky for both parties. It needs a long period of brainstorming and not just because it came up to your mind that "it will be easier this way".

Still no different from the usual fiat lending offered by the banks so I don't see any unique advantages of it. Also tale note of the fees associated with this plus the interest rate. And the worst case scenario, what if the borrowers trading activtity went wrong. It's a big problem how they will able to pay the interest especially if the crypto price suddently goes up.

cizatext

member

Activity: 952

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That will require a lot of process because before banks give loans the most first of all know where the found is going and at the same be able to trance the transactions and since bitcoin is highly decentralized it is difficult for the bitcoin transactions to be followed and monitor by the bank.

Ezenwanyi1

copper member

Activity: 308

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Veil

I 'm yet to come across any bank that accepts cryptocurrency as collateral for loan advancement.
The idea is not only risky but in practicable .
The volatility nature of cryptocurrency makes the idea difficult to implement.

sublime5447

legendary

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Loan via Bitcoin is very risky. We have understand what the volatility in Bitcoin and how the market responds, from there the price change can be seen, the changes can be terrible and not only profitable but also harmful.

droptableguy2

member

Activity: 434

Merit: 10

Quote from: Serco on July 30, 2018, 12:25:22 PM

If it happens like that then the bank will lose a lot of deposit, and certainly a lot of debt incidence. Surely we know that bitcoin is not controlled by anyone and if the bank can control it, then bitcoin will become extinct. I am sure if the bank provides a bitcoin loan then a lot of negative events one of them will damage the price of the real currency.

It is unreasonable for the bank to control this bitcoin. But in fact I think it can not happen because bitcoin does not depend on any unit organization. It is independent and has a clear roadmap adopted by the global community. Hope it remains as good as normal. Do not happen to what the community peace of mind to invest.

Reid

hero member

Activity: 3052

Merit: 651

Quote from: mazesta on July 28, 2018, 03:40:47 PM

I think it will be difficult, look at bitcoin prices, the price is very volatile, it means very easy to change. what if someone borrows a bitcoin when the price is 8000 US dollars and returns it at 7000?

I don't think they want bitcoin in return. They need profit from it. It can be through USD with some percentage for the number of months before you can pay in full amount.

If it is bitcoin to bitcoin payment that you want then the lending section here is all ready for that.
Banks will have their own kind of payment to deal with. If it is crypto to crypto then good but I doubt that will happen.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: cabalism13 on July 28, 2018, 05:29:43 AM

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.

I don't even think that Banks and Crypto would collaborate when it comes to those kind of services because if you do try to differentiate then you will able to see that Banks wont really make any tie up with Crypto and also Bitcoin or any other altcoin wont really need banks help when it comes to loans yet it do can stand on their own without the interference of Banks.

worldsuccess01

newbie

Activity: 119

Merit: 0

Quote from: Akpuv on July 29, 2018, 03:00:13 PM

If the banks decide to offer Bitcoin loan today, how will it be managed? I think this might never be a feasible thing nor easy for the banks to do. The cryptocurrency wallets are anonymous and the person taking the loan can deny owning the wallet or even claimed that the wallet has been hacked. Pay back becomes a legal issue. How will it be settled? So therefore, no need for such loans.

This is true if the banks offer loans of bitcoin I think is a hard decesions if they wanna try to convinced loans of bitcoin according to there way of payment.If the price will maintained low price how come of loans can be paid.So much better if it is good for the continuity of the programs.

Vs225655

member

Activity: 182

Merit: 16

So that's a great idea. But then the whole idea of privacy will be reduced to nothingness. After all, banks should identify who provided the loan.

jennyluwariz

newbie

Activity: 42

Merit: 0

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Serco

sr. member

Activity: 1050

Merit: 250

If it happens like that then the bank will lose a lot of deposit, and certainly a lot of debt incidence. Surely we know that bitcoin is not controlled by anyone and if the bank can control it, then bitcoin will become extinct. I am sure if the bank provides a bitcoin loan then a lot of negative events one of them will damage the price of the real currency.

Tylev

full member

Activity: 854

Merit: 104

Quote from: cabalism13 on July 28, 2018, 05:29:43 AM

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.

I think that banks, especially public ones, will never give out loans in bitcoin or other decentralized crypto currency because of its high volatility. It will be too risky for banks, they will never take such a risk.

In Estonia, CoinLoan is simply an intermediary between the parties for issuing a loan to fiat on security of the crypto currency. In this case, the firm does not take any chances. It reduces the parties to formalize the loan and, I think, takes its interest for it.

coinplus

legendary

Activity: 1386

Merit: 1058

Quote from: cabalism13 on July 28, 2018, 05:29:43 AM

If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.

Right now banks are so big that it is impossible for everyone to get loans as bitcoins because the amount of loans taken out from the banks by people is a lot more than the regular bitcoin can cover. It is just too much, also lets not forget that there is interest as well, will you be paying it back in bitcoin or in fiat ? Why would the bank give you the bitcoin if they are going to get the money back as fiat, you can just get it, save it, when the price increases give it back to the bank and keep the change. It makes no sense at all.

Quote from: Umkar on July 29, 2018, 04:34:09 PM

Not so long ago something like this was advertised here on the forum as the upcoming ICO, but I did not see the ICO itself.

When they need to raise funds from this community then I am losing my interest toward them. Traditional banks also doing the same, but in the name of ICOs, I am not believing any more due to my previous bitter experiences.

Quote

I do not think that ordinary banks will deal with issuing loans to fiat on security of crypto currency. This activity is very risky for banks.

When cryptos are becoming a legal tender then banks will not have any problem to deal with cryptos and a crypto adopter. But, we need to wait some more time for that happening around us. Cryptos based loans are new to this community but no colleadreal loans are not got paid back as per many surveys. Hence, we cannot expect easy loan even with crypto based banking environments.

imapd

member

Activity: 173

Merit: 10

cave canem!

Quote from: cabalism13 on July 28, 2018, 05:29:43 AM

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.

I wish that every of our positive questions will be turned to a statement, I mean about bitcoin adoption in all over the world, about telegram going on with their programm, all of our dreams come true.

Nikola95

full member

Activity: 231

Merit: 102

Quote from: mazesta on July 28, 2018, 03:40:47 PM

I think it will be difficult, look at bitcoin prices, the price is very volatile, it means very easy to change. what if someone borrows a bitcoin when the price is 8000 US dollars and returns it at 7000?

Or worse. Borrow at 18 k and return at 7 k . There is no way banks would use BTC or any other coin like they do with fiat money. They are working with fiat, and that's their purpose.

Umkar

member

Activity: 364

Merit: 10

Quote from: maarx on July 28, 2018, 05:35:11 AM

Quote from: cabalism13 on July 28, 2018, 05:29:43 AM

What if the Banks where about to give a service where the people can get a LOAN via Bitcoins would it be beneficial to all of us?The Banks and The Traders?
I think with this, trading would be a lot more easier, am I wrong?

Dude just came through a news fully oriented on loans which suits your needs here. Just go through the below link and find out more information on your query. It has just launched a crypto-to-fiat lending platform where cryptocurrency is used as collateral. On CoinLoan, everyone can become a lender or a borrower, on his or her own terms. Find more details on the below link;

https://news.bitcoin.com/pr-coinloan-opens-platform-to-bridge-gap-between-lenders-and-borrower/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

It is very interesting to see how long this CoinLoan extends to Estonia. By the way, it would be nice to know what percentage of the transaction amount takes CoinLoan. Not so long ago something like this was advertised here on the forum as the upcoming ICO, but I did not see the ICO itself.
However, I do not think that ordinary banks will deal with issuing loans to fiat on security of crypto currency. This activity is very risky for banks.

Wendigo

legendary

Activity: 2604

Merit: 1036

Banks need a tangible collateral from you before giving you a loan. In order to secure a Bitcoin loan you would have to give a fiat collateral which makes no sense in the first place. You can easily sell your assets and muster up the cash.
I see CoinLoan was mentioned earlier in the thread. Even there you would need to give fiat collateral before getting a Bitcoin loan and its only advantage is that they don't care about your credit score or solvency unlike banks. This fiat-for-crypto borrowing seems sketchy to me, because it looks like no proof of source of funds is required and one could essentially 'cleanly cashout' their ill-gotten Bitcoins by getting a fiat loan and never repaying it back.

Akpuv

jr. member

Activity: 322

Merit: 2

If the banks decide to offer Bitcoin loan today, how will it be managed? I think this might never be a feasible thing nor easy for the banks to do. The cryptocurrency wallets are anonymous and the person taking the loan can deny owning the wallet or even claimed that the wallet has been hacked. Pay back becomes a legal issue. How will it be settled? So therefore, no need for such loans.

hugeblack

legendary

Activity: 2702

Merit: 4002

Why do they lend to others, can they keep it and get free money? Tongue

The idea of buying Bitcoin using a loan seems scary to me, so how about getting a loan using Bitcoin as currency? "I'll be crazy if the price goes up Grin

."
Perhaps the only way to use Bitcoin is to reduce transaction fees, which will be done by cryptos controlled by the bank or the state and not the Bitcoin.
Also, Bitcoin and banks are two entirely different systems, and each has its aspects so combining them in service seems like a false idea

ClackKendi

newbie

Activity: 196

Merit: 0

The bank is the place where both the lender is both a place for people with cash surplus they can go there to receive interest rates for both lending and borrowing. Between these two actions the bank will receive a certain interest to the bank

Topic: BANKS offers LOANS. - page 3. (Read 774 times)