The one thing holding all crypto-currencies back is volatility and price stabality.
If Nem can implement a decentralized bank similar to what bitshares is doing.
Its game, set and match.
If Nem can implement a decentralized bank similar to what bitshares is doing.
Its game, set and match.
I am skeptical about bitshare economic model. I don't think the way they peg bitusd arbitrarily to $ could work in practice. Lending business is pretty difficult to do with bitcoin because of its deflation nature so i am interested so see if anyone can come up with a viable model.
Maybe a NEM stabilization fund would do the trick for volatility.
As for Bitcoin lending, here is a startup trying to do just that. https://btcjam.com/
Is that correct that they lend people btc and receive btc in the future with some return? So borrowers have to exchange btc to fiat to pay for whatever the reason they borrow btc in the first place: buy a car, pay the bill etc. It is where the exchange risk disaster come in. If when the loan is due in 6 months and btc jump 10 times where does the borrowers get the money to buy btc to pay back. Lending business works best when the currency is super stable and it is certainly not the case with btc.
Right, I understand the problem. I was just pointing out that someone was already trying it, though am not sure what the effect will be.
