I like the idea but I am quite hesitant to put anything on the line to try it until they have been around a while. I made the mistake once of being the guinea pig and will not do that again.
What happened with you? Have you lost your BTC? 
Topic: The real bitcoin killer app is already here (Read 3061 times)
Fast forward to today, Draper's purchase and wanting to use it for underserved inflation-prone markets further substantiates the utility of BTC as a savings mechanism.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
I think they are referring to the ability to stockpile coins and have them actually grow the way fiat used to before the monetary system was destroyed. It creates more demand because holding them is even more profitable.
Increased reward is almost always associated with increased level of risk. Remember that. And don't get too greedy.
Has been addressed here:
https://bitcointalksearch.org/topic/m.7533611
Right now I wouldn't care about getting interest, just making sure the coins would be safe. 5 years from now, I'd probably want an account giving interest like a bank.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
I think they are referring to the ability to stockpile coins and have them actually grow the way fiat used to before the monetary system was destroyed. It creates more demand because holding them is even more profitable.
Increased reward is almost always associated with increased level of risk. Remember that. And don't get too greedy.
Has been addressed here:
https://bitcointalksearch.org/topic/m.7533611
Some self-regulation and organisation is definitely what this community needs. Why wait for governments to do it? Exchanges opening themselves up for independent audit would certainly go a long way in establishing trust, which has taken a real big hit lately.
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I like the idea but I am quite hesitant to put anything on the line to try it until they have been around a while. I made the mistake once of being the guinea pig and will not do that again.
The Bitcoin stock market is an annoying thing that said they say risk brings reward in this case we have banks not anonymous ones that support the idea and can back it up.
That said it could backfire so it could well be worth just observing for now.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
I think they are referring to the ability to stockpile coins and have them actually grow the way fiat used to before the monetary system was destroyed. It creates more demand because holding them is even more profitable.
Increased reward is almost always associated with increased level of risk. Remember that. And don't get too greedy.
Has been addressed here:
https://bitcointalksearch.org/topic/m.7533611
That's a good idea. 
The thing to do would be maybe to create an entity that will vet and perhaps even ensure certain of these platformsn exchange for a fee from the entity . The entity ought to be backed by VC money, which would have an interest in spreading bitcoin use. And all parties would be subject to reserve wallet audit via the blockchain and other methods. Win-win for everyone.
Kind of like what Andreas A. did with bitstamp , but more formal, with a set audit methodology that applies to every participant and so on.
I absolutely 100% agree with this comment and actually believe that regular independent third-party audits will become the proverbial norm by 2016 (at least I'm hoping) rather than the exception. Independent audit by one or more highly trusted members of the community...just imagine how many bitcoins would've been saved had this practice been implemented 2 years ago with Gox. Soon I believe that exchanges will basically be forced by the free-market to allow said audits in the near(ish) future :p Kind of like what Andreas A. did with bitstamp , but more formal, with a set audit methodology that applies to every participant and so on.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
I think they are referring to the ability to stockpile coins and have them actually grow the way fiat used to before the monetary system was destroyed. It creates more demand because holding them is even more profitable.
Increased reward is almost always associated with increased level of risk. Remember that. And don't get too greedy.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
I think they are referring to the ability to stockpile coins and have them actually grow the way fiat used to before the monetary system was destroyed. It creates more demand because holding them is even more profitable.
Increased reward is almost always associated with increased level of risk. Remember that. And don't get too greedy.
I am taking a wait and see approach with this kind of stuff. It sounds tempting but as was pointed out above there is some risk involved. My strategy is pretty risk averse at this point.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
I think they are referring to the ability to stockpile coins and have them actually grow the way fiat used to before the monetary system was destroyed. It creates more demand because holding them is even more profitable.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
I think they are referring to the ability to stockpile coins and have them actually grow the way fiat used to before the monetary system was destroyed. It creates more demand because holding them is even more profitable.
Why should I "trust" bitfinex?
Can't this be "decentralized"?
Can't this be "decentralized"?
There is currently an implementation of a "borrower's market" for OpenBazaar in the works, so that should decentralize lending out bitcoins well enough
So it already works? Link? you can earn interest on bitcoins? what is collateral?
No, it's still being developed and the desktop client isnt live yet. Collateral will be something included in the smart contract facilitating the loan (mastercoin/nxt tied to an existing asset, etc).
check out the forums and the github pages:
https://forum.openbazaar.org/index.php?p=/discussion/16/borrowing-market
https://gist.github.com/drwasho/2c40b91e169f55988618
Check them out yourself and contribute whatever you think could make it better.
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
I'm well aware of how trading accounts work, and loans in general. Thats why i find i it odd anyone thinks this is a killer app for Bitcoin.
Why should I "trust" bitfinex?
Can't this be "decentralized"?
Can't this be "decentralized"?
There is currently an implementation of a "borrower's market" for OpenBazaar in the works, so that should decentralize lending out bitcoins well enough
So it already works? Link? you can earn interest on bitcoins? what is collateral?
Someone is going to have to explain where the interest is coming from? Loans you say? Why would I loan Bitcoins when due to the very deflationary nature advocated i'm likely to have to pay back more value than I borrowed? Accepting borrowing for margin trading (great... just what bitcoin needs, short selling), what would i possibly need a Bitcoin loan for that couldnt be served by a conventional loan? Therefore how is this a killer app?
The traders pay interest on the loans out of their exchange wallet. It is a way to leverage your balance to get a larger return. Any borrowing in any currency requires repayment of a certain percentage over what you borrowed. Have you ever bought a home? A car? Same thing.
Someone is going to have to explain where the interest is coming from? Loans you say? Why would I loan Bitcoins when due to the very deflationary nature advocated i'm likely to have to pay back more value than I borrowed? Accepting borrowing for margin trading (great... just what bitcoin needs, short selling), what would i possibly need a Bitcoin loan for that couldnt be served by a conventional loan? Therefore how is this a killer app?
Why should I "trust" bitfinex?
Can't this be "decentralized"?
Can't this be "decentralized"?
There is currently an implementation of a "borrower's market" for OpenBazaar in the works, so that should decentralize lending out bitcoins well enough
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