BANKS offers LOANS. | Bitcointalksearch.org

gambitcoin53

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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.

the idea is great but i dont see much benefit for the traders, we cannot trade using borrowed money, since bitcoin is unstable in price, that is too risky, it is like borrowing money then you will try to use it as capital to do business, sounding much like an ICO turning into scams because they didn't meet their target projection, it is too risky, and i think some ICO are already doing those borrowing thing and ended up with no funds, it is a double jeopardy to me.

Faeton

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Banks, especially public ones, will never issue loans in bitcoin. For them, this is too much risk. The large price volatility of bitcoins serves as the main obstacle for banks not being interested in bitcoins for issuing loans or for depositing them. Private banks can still take a risk in this regard, but I doubt it.

Dr.Osh

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however, I think that borrowing is not good. well, I'd better try to find the best I can compared to borrow a large amount to make a profit. Well, I think the results won't be satisfying if we have to produce something big with borrowed money.

ImpaT

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Banks take very big even huge percents. It's better and profitable to get loans throug new crypto platforms like Libra Credit or Nexo with small percents.

andriarto

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Quote from: sidodadii on September 11, 2018, 10:01:18 PM

how if you loss your fund? all of your loan loss in a single click?
bank will think twice before they give you loan in bitcoin, and they will distinguish between bitcoin and fiat. so if you want to trading use bitcoin, you still receive fiat. now, are you sure bank will give you money if the reason is loan money for trading?

to loan at the bank, of course there are requirements that must be met. and there is collateral for loan guarantees, i don't think it's a problem with the use of the loan, as long as we have a good name in bank

sidodadii

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how if you loss your fund? all of your loan loss in a single click?
bank will think twice before they give you loan in bitcoin, and they will distinguish between bitcoin and fiat. so if you want to trading use bitcoin, you still receive fiat. now, are you sure bank will give you money if the reason is loan money for trading?

Macai

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Well, almost all banks in our country offers loans, they even use credit cards to encourage people to apply for loans and pay according to terms. Now maybe in the future Banks also offer loans for crypto well we don't know but there is a possibility if it is now our money.

Pattart

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Quote from: Edraket31 on September 11, 2018, 03:44:56 PM

Quote from: justspare on September 11, 2018, 02:28:37 PM

Yes. It is still a very volatile market and for one thing, I am sure no bank will even want to be taking such a risk which is why they are in a higher percentage not be able to withstand the idea of decentralization.

Maybe over time when things change and we get to start seeing real life usage, more demand, less volatility towards the downside and so on, I guess we might things change, however, we also have to consider the aspect where the deflationary side of bitcoin might end up making it more of an asset than a currency, hence, the speculative nature.

Hence, I do not think, banks offering loans in bitcoin would really make any better impact as well.

That is right, they are not going to offer loans for bitcoins as a collateral so for sure we will just need to have at least holdings of what we do have currently and make it an investment for our future, time will come when all the coins will be a million worth in the future especially bitcoin so don't waste your time and investment, make a wise decision.

I think the bank might offer a loan of money with bitcoin, but the loan standard is not based on bitcoin but on dollars or fiat. you
can't borrow 1btc or 2btc but you can borrow with $7,000 then accumulate to bitcoin? maybe that will happen in the future?

PETES

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Quote from: paulspider on September 10, 2018, 09:30:02 AM

I ever witnessed one bank to offer a loan and you can't imagine the interest they charged on that loan. This makes me not interested to make request for loans anymore.

So true, their interest is insanely high and instead you can pay them easily you're like digging your own graveyard. Just forget the loans, and banks are hater of cryptos and so they won't allow any involvement into it especially the idea of using it as collateral, it's a big NO for them.

sheenshane

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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.

This is impossible to happen that the bank and the bitcoin(crypto) can work together since bitcoin is digital it is hard for them to trace back which better. This way of getting collateral in having a loan on the bank is very risky for them because this crypto was very volatile and no stable value that we compare to fiat and bitcoin is a decentralized while on other hand bank is centralized, they like water and fuel that it won't work together. Let's not assume on this that surely it will not happen near in the future.

Astra2127

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Loans plays a big role in banking industry. In this part of their money cycle is where they are making there money through the interest given. Every component in that cycle has different percentage included.

jujurloe

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the service mechanism will be faster and better because blockchain is global or decentralized. the level of trust will also be high and if the agreement is very clear escrow is no longer needed

alex.ac.ab

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Credits are not very good. Better to live within your means.

Edraket31

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Quote from: justspare on September 11, 2018, 02:28:37 PM

Yes. It is still a very volatile market and for one thing, I am sure no bank will even want to be taking such a risk which is why they are in a higher percentage not be able to withstand the idea of decentralization.

Maybe over time when things change and we get to start seeing real life usage, more demand, less volatility towards the downside and so on, I guess we might things change, however, we also have to consider the aspect where the deflationary side of bitcoin might end up making it more of an asset than a currency, hence, the speculative nature.

Hence, I do not think, banks offering loans in bitcoin would really make any better impact as well.

That is right, they are not going to offer loans for bitcoins as a collateral so for sure we will just need to have at least holdings of what we do have currently and make it an investment for our future, time will come when all the coins will be a million worth in the future especially bitcoin so don't waste your time and investment, make a wise decision.

justspare

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Quote from: peter0425 on September 08, 2018, 11:03:16 AM

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?

You're wrong. Just look around there are a lot of banks not allowing crypto-fiat exchange, what's more loaning people for crypto? Besides the idea of loaning just for trading is not the best strategy because of the risk. I wouldn't recommend it. Just imagine if you borrow money from someone and invest it in the beginning of the year? You will be having a hard time to pay because we suddenly goes on a bearish trend.

Yes. It is still a very volatile market and for one thing, I am sure no bank will even want to be taking such a risk which is why they are in a higher percentage not be able to withstand the idea of decentralization.

Maybe over time when things change and we get to start seeing real life usage, more demand, less volatility towards the downside and so on, I guess we might things change, however, we also have to consider the aspect where the deflationary side of bitcoin might end up making it more of an asset than a currency, hence, the speculative nature.

Hence, I do not think, banks offering loans in bitcoin would really make any better impact as well.

t3m4nc0k

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Quote from: paulspider on September 10, 2018, 09:30:02 AM

I ever witnessed one bank to offer a loan and you can't imagine the interest they charged on that loan. This makes me not interested to make request for loans anymore.

this is indeed the case if we borrow from the bank and of course that will be more burdensome to the bank's customers. so it's better if you want to do trade or investment you should not go to the bank to make a loan with just the money we have, so there is no risk of bill payment

indrakusumaindra

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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.

Well its true but you should understand the nature of businesses that bank do. Its hard to determine how much value people should pay cause bitcoin has a very volatile value and i think the risk is really high and i was work as a banker lending in bank and believe me bank dont like to have a high risk in the loan that they give to people. So i dont think bank would do such things. But maybe bank could lend a stable coins such as tether.

Gadhoh

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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.

a very good movement when banks and bitcoin can work together because many say when bitcoin is increasingly popular, banks are no longer needed, but if the situation is like this, the bank might never be replaced.

shelemiah31

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Banks really are offering loans because they also gain profit.It is their way of attracting people who are struggling financially.Though process may take long however through this,they earn the trust of their customers.

paulspider

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I ever witnessed one bank to offer a loan and you can't imagine the interest they charged on that loan. This makes me not interested to make request for loans anymore.

wahyu wida

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Quote from: cfif123 on September 10, 2018, 07:37:01 AM

Quote from: EddyGameta on September 08, 2018, 06:38:11 AM

It will only benefit the bank, while traders will be disadvantaged, especially if the demand on the coin rises with the popularity of lending increased. If many new traders try their luck or in other words don’t have enough knowledge, they will only become a snack for the bank that will become fatter.

really what you say, and if my advice is better do not borrow money from the bank if only for investment or trading in the crypto world, because there are other ways to get money to trade and investment such as participating in campaign bounties you can get money for trading capital

i think that is very risky. many Americans do it. do not know how it is now, by looking at the price of a depressed bcc. of course their psychology is very disturbed. Hopefully prices will get better soon

jossiel

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That's not a good idea to take loans for bitcoin. But it would be amazing if a bank would start offering that, it only means that adoption is increasing and they are considering bitcoin as something big to contribute for their business.

But,

I'm not going to take a loan for bitcoin or a bitcoin loan from the bank. We know on how much interest they are adding on it.

Eigig

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The bank offer loans , this is the income generated offers of the banks in order to gain income ,to pay the clients interests of a bank, it offers variety of loans ,to the people who wants to avail to the oppurtunity to own house and lot ,cars and other loans through this banks offer.

cfif123

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Quote from: EddyGameta on September 08, 2018, 06:38:11 AM

It will only benefit the bank, while traders will be disadvantaged, especially if the demand on the coin rises with the popularity of lending increased. If many new traders try their luck or in other words don’t have enough knowledge, they will only become a snack for the bank that will become fatter.

really what you say, and if my advice is better do not borrow money from the bank if only for investment or trading in the crypto world, because there are other ways to get money to trade and investment such as participating in campaign bounties you can get money for trading capital

coinplus

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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.

Unfortunately the loan business in bitcoin is a highly sensitive subject, will you get interest in bitcoin ?
Will you try to make sure they get bitcoin but pay in dollars? What will the interest rate be? How much of a increase or decrease can you handle in bitcoin price ?

In the end if people took out loans in bitcoin and lose it, making it back is a lot harder than it looks if they are trying to gather it back in dollars and the price of bitcoin goes up.

There was a Turkish investor who took funds from people in bitcoin and used it for trading and when he lost it during the crash he failed to pay them back because bitcoin went in price so much that it was impossible for him to pay back.

chocolah29

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If I were you, you shouldn't be considering borrowing money from banks since they're so wise as you can think of and they always made sure that they will get something more than anything and cryptos aren't they thing. Being volatile is a big factor that's why they didn't acknowledge cryptos as an asset, so since it isn't an asset they won't accept it as collateral.

They need more tangible as gold to be able get a loan. Honestly, if you can stay away from lending money please do, just utilize your earning and wait for it to grow rather than paying huge interest.

Indrawan77

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It got the good side and the bad side, the good side is it can increase the fame of bitcoin and it can help the economics, but the bad side is you need to submit your identity, which makes no different to loan using fiat, and then with the volatility it may increase the amount of money that the people borrow, so I don't really see this as a good improvement

Sum24

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Quote from: EddyGameta on September 08, 2018, 06:38:11 AM

It will only benefit the bank, while traders will be disadvantaged, especially if the demand on the coin rises with the popularity of lending increased. If many new traders try their luck or in other words don’t have enough knowledge, they will only become a snack for the bank that will become fatter.

You could be right but I think if we will invest our loan into something beneficial we will get more benefit and all income will be our own, so it is good to invest our money even if we take it as loan, for me getting profit is like we will be able to save our money as well as we can make more investment as it has wide network, people invests and make properties so same as them it is good chance for me I will invest my loan.

peter0425

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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?

You're wrong. Just look around there are a lot of banks not allowing crypto-fiat exchange, what's more loaning people for crypto? Besides the idea of loaning just for trading is not the best strategy because of the risk. I wouldn't recommend it. Just imagine if you borrow money from someone and invest it in the beginning of the year? You will be having a hard time to pay because we suddenly goes on a bearish trend.

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

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 get the escrows thingy. That's why its called Budget, campaign managers need to assess and do the work within the allotted funds given to them. No more, no less.

RudeeTam

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I find it problematic in some ways since first, will it be taken as loan in bitcoins or the equivalent price in fiat? With the volatility of bitcoin's price, it would be too risky to take them in fiat value.

aoihs00

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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 guess with this model we have got the lending techniques in the crypto world itself and it just works fine. Also most of the escrow service providers are getting the money from such services only.
Now coming to the statement of yours where you are claiming people getting loans from the banks, I dont think its true. In fact there is no single bank that exists based on the crypto currencies. In addition to this traditional banks wont allow to give away the loans in terms of crypto because this model is not gonna work up here.

EddyGameta

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It will only benefit the bank, while traders will be disadvantaged, especially if the demand on the coin rises with the popularity of lending increased. If many new traders try their luck or in other words don’t have enough knowledge, they will only become a snack for the bank that will become fatter.

junglist.massive

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Normally a smart trader won’t loan for trading, especially loans crypto that known for its volatility. It will only increase the risk for trader, unless there are some cases of traders who have fixed prediction of the price movement, but they usually borrow from a friend.

The Sceptical Chymist

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This is a valid issue, one worthy of discussion IMO.

Banks aren't into crypto right now. That could change with time, of course, but at present they don't see a huge demand for crypto loans. If you look at the lending section on the forum, it kind of looks like most of the loan requests are just scam attempts. When people need money, they generally need fiat. If you need a small business loan or a mortgage, you're not going to need bitcoin for that since everything you need to start a business or buy a house can't be purchased with bitcoin.

I suspect that of the legitimate loans on bitcointalk, most are taken out for gambling purposes, and there are probably some for dark market goods as well. There's no way a bank is going to touch those kinds of loans--not even with valid collateral. Frankly I don't think your average bank is ever going to provide crypto loans for those reasons.

I also think that banks would end up mostly getting stuck with whatever collateral they got. I base that on observations on the quality of borrowers here, most of whom seem to never have the intention of paying the lender back.

South Park

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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.

Lending will have to change in order to function under bitcoin, the loans with interest rates are justified under the current system where the government prints a significant amount of money, in my opinion if there is going to be lending in bitcoin the interest rate needs to be only the inflation rate of bitcoin during that period or else that will be usury.

georgiasus

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I do not know. In fact, I'm very biased about lending and do not consider the use of such services in any area of my life. I consider that the loan is a lasso on the neck or shackles, to whom it is convenient to call.

bombie1

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Yes they will give you loan but unless you have a to own or give something as a guarantee before accessing the loan.But cryptocurrency loans has not been implemented yet but as we go mainstream, one will be able to get digital loans as well just like a bank.

Starving_Marvin

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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.

Wish that every our question about crypto will turn out to be a statement

Will we get 3 ETH for a bounty campaign? Yes, we will.

Abolaji11

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Quote from: sasdaryl1995 on July 29, 2018, 03:25:23 AM

If Banks offers loans for bitcoins. doesn't bitcoins price affect the payments as well? like what if you wanted to make the payment using btc then suddenly the prices go up or down?

I think that will depend on the term of your agreement with the bank. If bank offer loans and accept crypto as collateral(which I strongly believe it won't happen with bank), then user should have an opportunity to customize the amount he or she want and term of the loan.

daarul50

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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.

But, unfortunately, there is no one bank that provides bitcoin loan services for us to be able to trade or investment so the opinions that state that banks hate cryptocurrency becomes stronger let alone the goal of bitcoin creator started from his disappointment with the system applied by the bank today.

harizen

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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

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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

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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

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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

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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

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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

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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

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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

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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

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Loans may come with fees, and should you refinance, you are going to have to pay closing expenses. For instance, your loan has to be in good standing. You're able to find out more about debt consolidation loans for those who have less than perfect credit, and loan alternatives, by visiting CareOne's extensive article library.

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Serco

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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

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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

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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.

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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.

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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.

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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.

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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.

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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

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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

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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

Abeey4life

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Crypto currency bank loan is difficult to operate by banking sector because the price of bitcoin is usually unstable.

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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.

banks will not lend via bitcoin, please understand.
escrow? you can do it right? but you do not do it with bitcoin, maybe another property or another asset, then you can borrow it to the bank. money earned from the loan can be used to buy crypto.

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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 think so if this is work better if the bank offer a loan by using bitcoin. For me I'm not in favor of this matter because it very complicated, bitcoin price is volatile. I prefer to invest my money in bitcoin directly because I don't want to be complicated through the bank that offer a loan for investment.

Betwrong

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I stand with Ukraine.

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?

What loans are you talking about and why do you think traders need them? From my experience, and from what I've heard, the last thing traders need is borrowing money for their trading activity. That's how one can become an addicted trader, loosing money to unsuccessful trading and borrowing again and again chasing their losses. In most cases it would make life of traders rather harder than easier.

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

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.

Do you mean the budgets for the Signature Campaigns? It looks like you see loans as free money, which they are not. In most cases loans make people poorer in the end rather than richer.

Stac

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I don't think that it is good option to take loans for investing in bitcoins or any other crypto currency as the crypto currency market is highly volatile in nature and so no one will be able to predict the market situation, like in normal financial markets there will be up and downs and the markets will not remain stable but the volatility is higher in crypto currencies. If we look at previous years price variation of bitcoins the price of bitcoins in the beginning of 2017 was less than $ 1000 USD but by year ending the price came up to $ 19300 USD which is huge differences in hiking and then the market started to fall so in such a situation I would say that it is not a good option to look for loans to invest in bitcoins and crypto currencies but a good option if you invest what you have in hand on bitcoins and crypto currencies then there will be less risk and long term investment will definitely get you good returns as there is potential for the prices to start the rally up.

sasdaryl1995

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If Banks offers loans for bitcoins. doesn't bitcoins price affect the payments as well? like what if you wanted to make the payment using btc then suddenly the prices go up or down?

Gdra467

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Banks usually want something concrete as a collateral for taking loans. The volatility of cryptos may put whatever propert you used for collateral at the verge of being seized by the bank.

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

I think with this, trading would be a lot more easier, am I wrong?

It would only be beneficial for the banks because they will earn more profitable than before. For traders, I'd say that they would profit less or if they lost it on altcoins, they would kiss their collateral goodbye.

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

Escrows will have an easier way to get money from other individuals.

They won't, escrows are not needed to get a loan from the bank, and they won't need it even if they allowed their customers to get loan via Bitcoin. It would just be the same as getting an ordinary loan but you will get btc for it.

Lagrood

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Obviously it will be. Banks have tremendous liquidity and in the case which you have desribed a part of those liquidity will come on the crypto market. I am absolutely sure that it will support the price of bitcoin because banks do not want lend an expensive bitcoin and receive back a cheap bitcoin. Consequently it will cause a new persistent upward trend in bitcoin. Moreover I think that this situation will affect positively on the almost all altcoins making the crypto market bullish again. Unfortunatelly I have not seen and heard the similar ideas and intenstions from any official bank employers and I guess that it is just while a dream.

mazesta

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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?

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Top Crypto Casino

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.

The banks will have no value to lend cryptocurrency because it's not backed by something and by the way, traders don't borrow money Cheesy

Escrows? Do you use escrow in your daily life? Would trading be a lot easier? So you think traders borrow money to banks to then go to trade using an escrow?

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cloverdex.io

Quote from: cabalism13 on July 28, 2018, 05:41:25 AM

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;

-snip

Thanks for info, but I think it isn't a bank though? It's just a certain platform that offers the same service as the Banks.
And still, I think before getting Loans from the Banks will be in need of collateral depends on how much you borrow from them... Tongue

Loan requirement can be fulfilled anyway from the source provided above still. We do have a section called "Lending'' in this forum where you can find people lending bitcoin. https://bitcointalk.org/index.php?board=65.0

But you are required to get through your documents verified i suppose. You will find more on lending. Check it out dude.

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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;

-snip

Thanks for the info, but I think it isn't a bank though? It's just a certain platform that offers the same service as the Banks.

And still, I think before getting Loans from the Banks will be in need of collateral depends on how much you borrow from them... Tongue

maarx

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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

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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.

Topic: BANKS offers LOANS. (Read 770 times)