Hello crypto! Bye bye credits? - page 14.

iMark

sr. member

Activity: 1162

Merit: 251

Quote from: Marlo Stanfield on June 28, 2018, 03:36:39 PM

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

No chance that the concept of credit will ever disappear really. Personal and business credit is like the oil that greases the economy. Risk and reward will always be there for lenders, and the demand will also always be there for people with cash flow or other issues.

of course it can not easily disappear, the credit payment system or lending funds from the bank is very useful, in fact there are many third parties,
who make credit cards from cryptocurrency, it means the credit system is still very much needed and much rerouted

Al-e_x

member

Activity: 560

Merit: 11

in the crypto world, there are many startups growing in the lending field, such as FinTech which has existence from 2015 specifically for investment lending. connect all capital holders with capital seekers through peer to peer exchange.

to display any feature of cryptocurrency based investment, this company has a purpose to minimize the occurrence of friction in investment services and P2P lending.

Existing services include exchange, digital wallet, cryptocurrency investment services, decentralized loans, and also crypto credit cards.

GangNamSK

member

Activity: 280

Merit: 10

Quote from: Cryptoreflector_666 on June 30, 2018, 05:43:29 PM

Quote from: Herbys on June 29, 2018, 01:36:43 PM

In the cryptocurrency the loan will be given only for the property, because now the crypto currency is needed only for bidding, and no one is insured against bankruptcy.
To that on these loans will be greater percentages + insurance. They can be given only at a successful coincidence of circumstances, after all already not 2017 when on Bitcoin have earned the capital. Embarrassed

There may be a problem with the adjustment of this process. The body that issues the loan does not matter what the client will spend money, it is important to the size of the percentage that will return after. In cryptocurrency this is a problem area, in the Fiat currency the situation is easier.

I think this will be the time when cryptocurrency dominates the world financial markets because of the needs of investors as well as the prevailing crypto over current cash. Cryptocurrency is becoming more widely used and it promotes its growth.

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: ?? on ??

despite the fall in the rate of the first crypto currency, its dominance in the market has grown to 43%. The last time this indicator was as high as April 12. The price of bitcoin is less volatile than that of the altcoyins.

However, if a person took out a loan in the middle of last year, by December, his debt would have increased by 5 times ( when bitcoin made a large pump) and because of this, there could be big problems with the calculation of loan interest. This question of course remains open

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: Marlo Stanfield on June 29, 2018, 02:15:15 PM

Quote from: AVAMONEY on June 29, 2018, 10:46:03 AM

My opinion is a bit difficult to make loans in crypto, because the price of coins is never the same or unstable. Maybe it could be given a crypto loan if you tie the loan amount into a strong official currency and pay accordingly on an equal loan. But it can happen, I'm the one happy with that, cause I'm tired with credit.

Taking a loan out denominated in crypto is like shorting the actual cryptocurrency. If the price goes down by the time you need to settle the loan you can make money. Of course that can work against you too.

Smart contracts can help here. In fact, the process itself should be fully automated - meaning the adjustment of the exchange rate at issue and at the loan itself directly.

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: Herbys on June 29, 2018, 01:36:43 PM

In the cryptocurrency the loan will be given only for the property, because now the crypto currency is needed only for bidding, and no one is insured against bankruptcy.
To that on these loans will be greater percentages + insurance. They can be given only at a successful coincidence of circumstances, after all already not 2017 when on Bitcoin have earned the capital. Embarrassed

There may be a problem with the adjustment of this process. The body that issues the loan does not matter what the client will spend money, it is important to the size of the percentage that will return after. In cryptocurrency this is a problem area, in the Fiat currency the situation is easier.

Marlo Stanfield

sr. member

Activity: 490

Merit: 280

Quote from: AVAMONEY on June 29, 2018, 10:46:03 AM

My opinion is a bit difficult to make loans in crypto, because the price of coins is never the same or unstable. Maybe it could be given a crypto loan if you tie the loan amount into a strong official currency and pay accordingly on an equal loan. But it can happen, I'm the one happy with that, cause I'm tired with credit.

Taking a loan out denominated in crypto is like shorting the actual cryptocurrency. If the price goes down by the time you need to settle the loan you can make money. Of course that can work against you too.

Herbys

jr. member

Activity: 238

Merit: 6

In the cryptocurrency the loan will be given only for the property, because now the crypto currency is needed only for bidding, and no one is insured against bankruptcy.
To that on these loans will be greater percentages + insurance. They can be given only at a successful coincidence of circumstances, after all already not 2017 when on Bitcoin have earned the capital. Embarrassed

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: DunnDy on June 28, 2018, 04:28:57 PM

People with lower standards of living would have a serious problem because this type of system doesn't help anyone too much in contrast to the current one which care about the bad material situation of some people. Creating loans in cryptocurrencies would be difficult if at all possible. Bitcoin is so unstable that it could happen that someone take a loan for a certain amount of money and would have to return a multiple of it. For now, the situation in the world doesn't allow for the resignation of fiats.

That's right, but we're trying to look at alternative ways of lending. However, it is true that cryptocurrencies and other electronic financial transactions do not provide such an opportunity.

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: PAKYU on June 28, 2018, 04:15:39 PM

we are talking about future, this is obvious one but are talking about near future or opposite? this is the real problem.

To be precise, the future as such has already come: we pay for services without getting up from the sofas, pressing a button and it's fine. Then the world will develop in this direction.

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: Marlo Stanfield on June 28, 2018, 03:36:39 PM

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

No chance that the concept of credit will ever disappear really. Personal and business credit is like the oil that greases the economy. Risk and reward will always be there for lenders, and the demand will also always be there for people with cash flow or other issues.

It's not about whether the loan will disappear as such or not, but what would leave it at the same time adapting to new technologies such as blockchain. The main problem for lending now is decentralization and the lack of guaranteed control over payments.

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: KrakenZ on June 28, 2018, 03:23:38 PM

I have never made a loan through crypto currency. So far I have never heard anyone offer loans in the form of crypto currency. The real world of banking and crypto currency can not be separated. If we want to have crypto currency then the only way that can be taken if we do not have the capital that is by taking a loan in the bank and then to buy crypto currency or invest in crypto currency. Another safer way, better follow the bounty campaign patiently until you have enough income to invest in crypto currency.

At the moment, this is really the only adequate option for loans in cryptocurrency. However, it is not clear how the situation will develop if the Fiat currency will disappear as such and will be replaced by more progressive types of financial payments. Of course, I'm talking about bitcoin and blockchain technologies in trade and Finance.

Cryptoreflector_666

member

Activity: 728

Merit: 24

Quote from: ani4 on June 28, 2018, 03:16:10 PM

Quote from: Cryptoreflector_666 on June 24, 2018, 05:58:07 PM

Quote from: ani4 on June 14, 2018, 04:28:00 PM

Quote from: Corsicoin on May 14, 2018, 02:25:32 AM

I guess the blockchain connected to ID and notarial informations could make crypto loan more safer.
We can imagine that if you don't pay the loan you get automaticaly sued through the blockchain?

What a dystopian nightmare all you guys are dreaming up. There is no need for state/third party actors, or Legal process in any of this; you can do biological ID with no LEGAL identifiers... there are many working on this and this is crucial...

with Legal jurisdiction implied you are a slave, bound by antiquated laws drawn up by bankers to keep the peasants in their place and keep a constant funnel of fiat/national (LEGAL TENDER) flowing up to the elite. Crypto is outside of this jurisdiction until you try to re-enter the system via fiat/name. TENDER FOR LAW - Debt in transit - LEGAL TENDER... this the fiat military slave money.

The real open/decentralized cryptos will succeed in the end... with innovation that our minds cannot even remotely begin to fathom. This is the birth of crypto and we ain't seen nothing yet compared to what can be achieved through this.

No one rejects the notion that Fiat banks and the financial system built on hard currency in terms of lending is nothing but slavery in the 21st century. However, we are trying to find some way around it.

Fair enough, I'm just putting it to people here, that the "way around it" is by using cryptocurrencies correctly.

Those who don't know what Babylon/Legal/Fiat is, will continue to use it and give over jurasdiction (claiming to be slaves); those who are able to get literate in crypto-currencies , will be able to live freely without giving jurasdiction over to the criminal Private Law Society that claims the Earth for itself. Heaven and hell always exist as external manifestations of the internal metaphysical/angogical play of experience. The question is not whether you go to heaven or hell, but how much heaven/hell you are helping manifest with your intent/actions and words. <3

I get a little disheartened that so much of the crypto community is unaware of this aspect of bitcoin/truly decentralized+open and public crypto-currencies... but it is nice to see many do also

You're right, the choice is really subjective and purely individual, but here the point is that this choice must be in order to make it. If the crypt comes to the fore regarding the Fiat currency, then there is the option that the loans will disappear as a phenomenon. And this is very undesirable

AVAMONEY

full member

Activity: 406

Merit: 100

My opinion is a bit difficult to make loans in crypto, because the price of coins is never the same or unstable. Maybe it could be given a crypto loan if you tie the loan amount into a strong official currency and pay accordingly on an equal loan. But it can happen, I'm the one happy with that, cause I'm tired with credit.

DunnDy

member

Activity: 132

Merit: 12

People with lower standards of living would have a serious problem because this type of system doesn't help anyone too much in contrast to the current one which care about the bad material situation of some people. Creating loans in cryptocurrencies would be difficult if at all possible. Bitcoin is so unstable that it could happen that someone take a loan for a certain amount of money and would have to return a multiple of it. For now, the situation in the world doesn't allow for the resignation of fiats.

PAKYU

sr. member

Activity: 400

Merit: 250

we are talking about future, this is obvious one but are talking about near future or opposite? this is the real problem.

Marlo Stanfield

sr. member

Activity: 490

Merit: 280

Quote from: Cryptoreflector_666 on May 13, 2018, 06:51:04 PM

I wonder this: if the usual banking system will disappear as such, then she will leave and credit system, leasing and installment payment, debt, etc. As there is no centralized authority that can issue and track correctness of performance. To some extent, this is certainly good, but in fact people who can not immediately earn a large amount of money and will remain in the lower levels of life, which gives the modern banking system (though not ideal). What do you think about this? How to Take a loan in cryptocurrency?

No chance that the concept of credit will ever disappear really. Personal and business credit is like the oil that greases the economy. Risk and reward will always be there for lenders, and the demand will also always be there for people with cash flow or other issues.

KrakenZ

jr. member

Activity: 145

Merit: 1

I have never made a loan through crypto currency. So far I have never heard anyone offer loans in the form of crypto currency. The real world of banking and crypto currency can not be separated. If we want to have crypto currency then the only way that can be taken if we do not have the capital that is by taking a loan in the bank and then to buy crypto currency or invest in crypto currency. Another safer way, better follow the bounty campaign patiently until you have enough income to invest in crypto currency.

ani4

newbie

Activity: 62

Merit: 0

Quote from: Cryptoreflector_666 on June 24, 2018, 05:58:07 PM

Quote from: ani4 on June 14, 2018, 04:28:00 PM

Quote from: Corsicoin on May 14, 2018, 02:25:32 AM

I guess the blockchain connected to ID and notarial informations could make crypto loan more safer.
We can imagine that if you don't pay the loan you get automaticaly sued through the blockchain?

What a dystopian nightmare all you guys are dreaming up. There is no need for state/third party actors, or Legal process in any of this; you can do biological ID with no LEGAL identifiers... there are many working on this and this is crucial...

with Legal jurisdiction implied you are a slave, bound by antiquated laws drawn up by bankers to keep the peasants in their place and keep a constant funnel of fiat/national (LEGAL TENDER) flowing up to the elite. Crypto is outside of this jurisdiction until you try to re-enter the system via fiat/name. TENDER FOR LAW - Debt in transit - LEGAL TENDER... this the fiat military slave money.

The real open/decentralized cryptos will succeed in the end... with innovation that our minds cannot even remotely begin to fathom. This is the birth of crypto and we ain't seen nothing yet compared to what can be achieved through this.

No one rejects the notion that Fiat banks and the financial system built on hard currency in terms of lending is nothing but slavery in the 21st century. However, we are trying to find some way around it.

Fair enough, I'm just putting it to people here, that the "way around it" is by using cryptocurrencies correctly.

Those who don't know what Babylon/Legal/Fiat is, will continue to use it and give over jurasdiction (claiming to be slaves); those who are able to get literate in crypto-currencies , will be able to live freely without giving jurasdiction over to the criminal Private Law Society that claims the Earth for itself. Heaven and hell always exist as external manifestations of the internal metaphysical/angogical play of experience. The question is not whether you go to heaven or hell, but how much heaven/hell you are helping manifest with your intent/actions and words. <3

I get a little disheartened that so much of the crypto community is unaware of this aspect of bitcoin/truly decentralized+open and public crypto-currencies... but it is nice to see many do also

Crogobertolacquanda163394

newbie

Activity: 4

Merit: 0

Credits never die ! Grin

Topic: Hello crypto! Bye bye credits? - page 14. (Read 3144 times)