Topic: Bitcoin financial services - page 2. (Read 393 times)

..banks already exist before bitcoin was created..nowadays many banks bushes the use of Bitcoin for they treated it illegal because other people uses it in a wrong way..banks considered Bitcoin as a threat for some of them losses big investors because they widrawn their money just to invest in Bitcoin..But we all know that Bitcoin have gone milestone of what it has now..Bitcoin changes everything and we cannot deny that many lives have changed by Bitcoin..

..other people do trust Bitcoin so they invested on it,,and look what they have now,,bitcoin's early investors have gain a lot and until now they successfully harvesting the fruit of their invested..but some people choses to put their money at home or in a safety box because they don't trust banks nor Bitcoin..but it is better to trust investing in Bitcoin if you are aiming for a high profit..

Why would anyone be giving a huge bitcoin loan? Financial institutions supposed to provide big ones, which if harder than giving small loans via different lending websites.
Traditional institution provide low interest rates and getting a small but steady income. They can't legally ask customers to pay them like 100% if interest rates.
In such conditions, they may give a 5% BTC loan and during the next year lose 50% on BTC rate.
Such risk is not acceptable for big banks and dangerous for the financial system.

Is there any possible way to loan from MakerDAO without any collateral to offer? I don't have any Bitcoins or eth that is why I want to have a loan, so any idea ho to have one? I do have some shitcoins from previous bounties, maybe that should do.

  Since bitcoin was introduced on 2009 it was not spoken by the public since they were not so aware  of Bitcoin and its use shortly they became aware of Bitcoin  and its value . Though the growth was slow  people and companies hesitated to join the new territory after two or three years  people started speaking about Bitcoin by the coming up of a new ,Blockchain technology people trusted and transaction was made fluently without any manipulations and without a help from a third party was needed and saw the transaction was done fast all over the global system investing in banks now a days people are feeling no security .

lol a loan with bitcoin,

bitcoin is just about making money out of thin air privately (taboo break in egalitarian humanist societies)

und go public about it.

no way there can be a legal and financial system working with that trash.

first. no state police is interested protecting bitcoin, and the 5 million altcoins,

secondly no one can pay a bitcoin loan back, because there is no way an economic environment has a reliable supply of "bitcoin" customers.

regards

Banks will return your money based on the basis that they are trusted parties and will protect your money but that does not mean you are safe. There are a lot of stories for people who have lost their money, even some in the bank.


Cryptocurrencies "Bitcoin" provide you with an irreplaceable alternative As long as you keep your recovery seeds safety, no one will be able to steal your coins without having to trust the promises of someone or an institution.

Hope I don't sound like a shill once again, but when talking about loans through cryptocurrencies I always suggest checking out the MakerDAO platform. They loan you through DAI stablecoins. But of course, like most loans, you need a collateral. For now, they only accept ETH collateral (BTC soon as they claim). Just do research on it.

I think a lot of people just trust themselves to hold huge amounts of money at home, hence banks. Companies providing bitcoin insurance though, Coinbase. Though as far as I know, they wouldn't be able to cover 100% if ever 100% of their funds(including cold storage) gets stolen for instance. Their insurance only covers their hot wallets which is only 2% of their total holdings.

So I know some members of this community like to participate in a good old bank bashing session and while I do agree we need to reform our financial system and disruptive technology
like bitcoin and other decentralized innovations are going to part of that I'd like to open up a bit of an open ended discussion about how you guys envision the important services that banks
and other financial institutions provide are going to be changed/replaced.

So for example loans are extremely important for upward economic mobility, is anyone aware of financial institutions that currently offer loans in bitcoin? Is this something that will only
happen when bitcoin has large usage comparable to fiat in order to be stable enough for an institution to even consider giving a loan?

Is there any novel solutions that make a loan self executing via smart contracts or will we always have to have trust trust when it comes to these kind of transactions?

What is the general sentiment regarding custodial services for people's bitcoin so they don't have to be concerned about storing it them selves?
Are there any examples of companies already successfully doing this?

Another reason people tend to open bank accounts rather than store money themselves is that they can get their money back in the event of being scammed
(a sense of security really). So is there any examples of companies providing insurance for people's bitcoin?

So there's several questions to get this kind of conversation started. Feel free to answer as many as you like or just give your own take on the topic in general.

Cheers.