Who will lend money without banks? - page 2.

jaocoincrypto18

full member

Activity: 630

Merit: 103

Quote from: Crypto Piece on January 04, 2018, 02:24:45 PM

If a decentralized system of money is implemented, lending capacity would be vastly reduced and slow the growth of the economy.

I think the main purpose of the bank existence is to keep our money safe and then they will focus on lending therefore if the banks will gone there are many businesses today that engage in lending, loans, and financing so no problem about lending but the problem is who will do the safekeeping of our huge money? I think we should bury it in the ground. Grin

Saidasun

sr. member

Activity: 334

Merit: 275

P2P loans are becoming more convenient and you don't have to provide any personal details and only provide acceptable collateral. It's probably the most decentralized version of loaning that we'll get.

icanscript

hero member

Activity: 686

Merit: 502

Obviously, the concept of loan repayment guarantees should change.
The base account of a person in the crypt world is the sum of various assets in the form of tokens. Monetization of human behavior in society, the creation of ranks of trust, algorithms to support a positive balance of consumption, monitoring the level of coexistence in society.
In China, such a model of constructing addictions is already being implemented in society. .

xtisoc

newbie

Activity: 3

Merit: 0

Quote from: Crypto Piece on January 04, 2018, 02:24:45 PM

If a decentralized system of money is implemented, lending capacity would be vastly reduced and slow the growth of the economy.

Who would even borrowed it, because of risk of having to return it at a rate x5, x10, x100 ...

odolvlobo

legendary

Activity: 4466

Merit: 3391

When people say that cryptocurrencies will replace banks, they are talking about the aspects of storage and transfer of money. Banks will still lend money, whether it is fiat or crypto.

aso118

legendary

Activity: 1918

Merit: 1012

★Nitrogensports.eu★

Quote from: Crypto Piece on January 04, 2018, 02:24:45 PM

If a decentralized system of money is implemented, lending capacity would be vastly reduced and slow the growth of the economy.

The way things are evolving, I don't think there is going to be any one source of money. A centralized, fiat based currency would always be present, even if Bitcoin is successful.
That said, Bitcoin provides you the option to remove the intermediary (bank). This is not always exercised, as we have seen people leaving money with exchanges. So bitcoin could also be deposited in a bank-equivalent which could pay you interest, and then use these bitcoins for its lending business.

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

This is only the question of a good system (good algorythm) that spreads risk of lenders. I'm sure a lot of people will be happy to lend their bitcoin to strangers (see this forum had a lending section) and it worked with or without collateral (I haven't checked the lending section recently). So it's already working, but if there would be an app or something that can handle this, it would be better. Also the best would be not only to do p2p lending (1 person lends to 1 borrower) but to spread the risk like 100 person lends to 100 borrowers and you have just reduced the risk of having a non-paying loan to 1% if one of the borrowers fail to repay the loan.

Ranly123

full member

Activity: 952

Merit: 104

★777Coin.com★ Fun BTC Casino!

Quote from: Crypto Piece on January 04, 2018, 02:24:45 PM

If a decentralized system of money is implemented, lending capacity would be vastly reduced and slow the growth of the economy.

No, there are many platforms that circles around cryptocurrency so yoy cant say that decentralized system will reduce or slow down the growth of the conomy. There are many lending platforms that investors can use even with high risk on their investments but it will gain high profit in return, which means economy is not affected on the decentralization of currency.

nightmanisrightman

full member

Activity: 252

Merit: 101

Global Risk Exchange - gref.io

Quote from: Crypto Piece on January 04, 2018, 02:24:45 PM

If a decentralized system of money is implemented, lending capacity would be vastly reduced and slow the growth of the economy.

Why would the lending capacity be reduced though? The only thing that changes is the way the money is supplied but not how or why.

buternasek

member

Activity: 336

Merit: 12

if you have lost hope now with bitcoin, i also hold some bitcoin and i still keep it
because I'm sure this year the price will go up, whatever makes me sure .. but I'm sure bitcoin will go up

EllaPonchik

full member

Activity: 532

Merit: 100

Dream of the Great

a good question, well, I think without banks, this will deal with special institutions like banks))

Crypto Piece

member

Activity: 166

Merit: 43

If a decentralized system of money is implemented, lending capacity would be vastly reduced and slow the growth of the economy.

Topic: Who will lend money without banks? - page 2. (Read 279 times)