I do not understand why people loan, or agree to loans where the loan isn't a fixed monetary sum. Lets say I was applying for a loan like this (which is the format most people follow when asking for a loan)
-example-
But lets say when you lend me the BTC price is $100. But in that week, BTC raises dramatically to $200. This would mean I am paying you back $110 more.
-another example-
So my question is why don't people ask/lend/repay in terms of monetary value and not a numerical BTC number.
-example-
But lets say when you lend me the BTC price is $100. But in that week, BTC raises dramatically to $200. This would mean I am paying you back $110 more.
-another example-
So my question is why don't people ask/lend/repay in terms of monetary value and not a numerical BTC number.
Because some of us do not care about the value in $, € or any other goverment issued currency.
Yeah but when doing loans, you obviously care about the ROI
-snip-
the paypal is just collateral.
the paypal is just collateral.
How is "the paypal" collateral? Could you provide some details? Money transfered via PP? The PP account?
The money would have been transferred to whoever
But Ive bought almost 3k coins since I joined. I thought that would be good enough for a $20 loan.
If you have 3k BTC why do you
Because I needed slightly more
