Until now,there is no such company which provides bitcoin loans.Its high volatile price might be another reason for any authorities not providing such services.
It's really true that the price of bitcoin is very volatile in short periods, not to mention long-term loans. The problem can be avoided if you tie the loan amount to any official strong currency and pay in accordance with the loan equivalent. 
Topic: Hello crypto! Bye bye credits? - page 21. (Read 3155 times)
yep, this is why banks always hate crypto and always issue bad news about crypto
because crypto has the potential to displace all services in the banking
when that happens, then the conventional bank will not have any more customers
because crypto has the potential to displace all services in the banking
when that happens, then the conventional bank will not have any more customers
Until now,there is no such company which provides bitcoin loans.Its high volatile price might be another reason for any authorities not providing such services.
Now there are a lot of projects on the market that offer users to take or give a loan cryptocurrencies at a certain percentage and for different times you can take out a loan in cryptocurrencies from these projects having fulfilled the terms of their contract. Also i think in the near future there will be banks that will provide credit conditions for users in cryptocurrencies.
What projects? Are there any examples? I occasionally see in the Western and American press, thematic resources a hint of like ICO, but nothing specific at this point in the EOY area is not met. If you have any other information, I would be happy to share it.
Now there are a lot of projects on the market that offer users to take or give a loan cryptocurrencies at a certain percentage and for different times you can take out a loan in cryptocurrencies from these projects having fulfilled the terms of their contract. Also i think in the near future there will be banks that will provide credit conditions for users in cryptocurrencies.
I think this is a very hard-easy thing with kyc system, but i can't see further how the system work naybe it's not much different with bank in generally. I never thought how much that will be interested on this thing. For example, Debitum.
Debitum Network is an innovative hybrid ecosystem for small business financing - utilizing Ethereum blockchain based process together with principal and interest moved using fiat. This ecosystem based on decentralized and motivated communities brings together SME borrowers, local and regional risk assessors, debt collectors, insurers as well as global investors with interconnected trust-based smart contracts.
How exactly is the logistics of the lending process built? Someone has to act as the borrower and someone guaranteeing safety body. Debitum Network is an innovative hybrid ecosystem for small business financing - utilizing Ethereum blockchain based process together with principal and interest moved using fiat. This ecosystem based on decentralized and motivated communities brings together SME borrowers, local and regional risk assessors, debt collectors, insurers as well as global investors with interconnected trust-based smart contracts.
Well, blockchain based cryptocurrencies are still in the basic phase of development and I believe that these things are here to stay. On the other hand, banks are going to adopt blockchain technology to optimize their current infrastructure but still, I don't think that banks will support decentralized cryptocurrencies anytime in near future. When it comes to loans, salaries, I think we will see some smart contracts to facilitate those recurring tasks.
Still, I can't understand how a centralized body - a Bank can take a decentralized blockchain system as a basis. Unless, of course, the banking system itself will not be revised in its essence and will be a system of private loans, but the basis of the total monetary pool of users of this Bank. But this is just very doubtful. 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?
If you connect your ID, then you will no longer remain anonymous. So almost all top crypto currencies (that allows anonymous transactions) will be rendered useless. People will then have to use specific crypto currencies also. Again, since crypto currencies are decentralized, it will be hard for third parties to get involved on loan scams.We can imagine that if you don't pay the loan you get automaticaly sued through the blockchain?
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?
Do not even dream that the current banking system will ever disappear. Crypto currency is not capable of causing significant harm to banks. Even if the crypto currency could destroy banks, the state will never stand aside from this process. Once the crypto currency would create a threat to the existence of banks, the state would severely suppress such an attempt, up to the complete prohibition of the crypto currency. Banks are an integral part of any state. A state without banks can not exist. Therefore, it is not necessary to conflict with banks.With blockchain technology it is hard to imagine classical loans against property, but a couple of interesting crypto loan solutions have emerged in the mean time.
One is Salt (currently only available for US citizens), which offers fiat money loans (USD, EUR, and others) against bitcoin collateral.
The other is Ethlend, which offers ETH loans against other cryptocurrencies by utilizing smart contracts. Probably we are going to see more and more of these crypto loans in the near future.
Source: https://blockonomi.com/salt-vs-ethlend/
One is Salt (currently only available for US citizens), which offers fiat money loans (USD, EUR, and others) against bitcoin collateral.
The other is Ethlend, which offers ETH loans against other cryptocurrencies by utilizing smart contracts. Probably we are going to see more and more of these crypto loans in the near future.
Source: https://blockonomi.com/salt-vs-ethlend/
Salt and Ethlend are both far from the services Banks provide. I believe Banks are here to stay I know most people would not like to here this, crypto has a big role to play in the space in future but as long credits service is not crypo platform can meet this demands unless we want to be deceiving ourselves
Sure they're different because you still need collateral, even for loans that aren't even that big.
I wouldn't be surprised though if companies start offering loans without the need for collateral, maybe on a local level or something.
It's not like it hasn't been done before, but there's just too much fraud and defaults, when you're dealing with semi-anonymous people on the internet.
i don't know why people always think it is "live or die" situation when bitcoin is involved! there is a lot of middle ground here. bitcoin can become big while banks are still as big as they are. it doesn't have to replace anything and it doesn't have to die trying.
you say loans, that is just a service. if there is demand for loans in a world with bitcoin in it then banks or other institutes will start giving bitcoin loans!
How do you imagine it is possible for a Bank to issue a loan in bitcoins? The Bank must either have its own personal tokens or it is not needed at all, since the largest resources in bitcoins are currently owned by private individuals. This is the beauty of bitcoin and the whole blockchain system. you say loans, that is just a service. if there is demand for loans in a world with bitcoin in it then banks or other institutes will start giving bitcoin loans!
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?
Do not even dream that the current banking system will ever disappear. Crypto currency is not capable of causing significant harm to banks. Even if the crypto currency could destroy banks, the state will never stand aside from this process. Once the crypto currency would create a threat to the existence of banks, the state would severely suppress such an attempt, up to the complete prohibition of the crypto currency. Banks are an integral part of any state. A state without banks can not exist. Therefore, it is not necessary to conflict with banks.Crypto can be used in different types of payment it is less in service fee have friendly approach affordable now is to say goodbye of credit.
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?
The banking system will never disappear and the same goes for credit and debt. Even if crypto 'takes over' the banking sector would just adapt to use it (and the banks are already looking to implement blockchain tech and is only a matter of time before they do). Credit and loans aren't inherently bad either and people are always going to need loans and mortgages so they will just be issued on the blockchain but you will still need some central authority to do so.
Indeed, banking system is like integral part of the nation and through the international connections it does form the giant global network.
Do you really think that something big like that will disappear from the face of the earth at all? I mean what are the chances of that happening in reality, its next to zero.
They might get modified, they might be upgraded in the time to come but they wont disappear like that!
I am not sure why your question turned into crypto loans at the end of your post but I think you can visit the lending section in the economics. You will get better answer there only.
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?
It will be possible to take a loan in crypto if it is regulated like everything else is. When you will be personally liable with your property for the repayment of the credit. Until that is done nobody will want to lend their crypto if i have no means of collecting the debt
You can borrow some bitcoin or other coins to your friend but I think no company right now that allows you to loan some cryptos. Maybe there's ICO right now about this thing but I don't think its a good business since cryptoworld is a decentralized thing and even you ask for KYC there is still no assurance that you will get paid.
Of course, how to explain this to people who are generally far from crypto-currency and blockchain? In the third world, the average salary of 20-30 dollars and it is difficult to take a loan in the usual, hard currency. And here is a complex system involving at least minimal technical knowledge. This is impossible even at the level of thoughts. 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?
Until now there is no agency or official institutions that specifically have these services. We are currently seeing more that these services are provided by individuals. The existing credit and loan features are not fully applicable. But with the passage of time then I am pretty sure that bitcoin will continue to grow and will have those features.
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?
It is very hard to loan crypto because of its volatile price. Anyway, fiat money always co-exist with banks so in order for what you had stated to happen, fiat must be extinct. To that end, crypto can never imitate the whole banking system in any ways possible.
Banking system might get changed but the need and crave for loan or credit will never be banished. They will remain as long as there is human in this earth. But loaning is not very simple in terms of crypto. Not only BTC, but most likely all the alt coins are unstable. So, loaning in a unstable currency is not something that you get often. Currently, Bitcoin is used as an investment, and I've never heard of investment being loaned.
Well, banking system won't leave anyway.
to take a loan from bitcoin it will not flexible like in the bank but maybe someday there are many services about loaning with bitcoin that will booming in this forum or crypto world beacuse as we cansee right now we can see that there are so many ICO project that will solve all problem in this world using blockchain system and maybe the loaning will be the one of the problem that will saved by ICO proejct
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