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Offline wesphily

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Bitshare Loan
« on: February 22, 2015, 04:01:48 PM »

I'd like to be able to allow 1-3 investors loan me a down payment to which I would pay interest on. For example: I get a 5k$ loan and pay 10% yearly interest. Is there a way I can do that with Bitshares trustlessly?

Offline speedy

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Re: Bitshare Loan
« Reply #1 on: February 22, 2015, 04:05:04 PM »
The bond market should let you do this, but you would need to post the equivalent value in collateral.

Ggozzo

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Re: Bitshare Loan
« Reply #2 on: February 22, 2015, 05:24:06 PM »
You cant do it trust-less.

If you want to buy a car for $10K and you have $5K, you will need to borrow the other $5K. If you post your original $5K as collateral, you gained nothing. You still only have $5K because the other $5K is tied up now. There is no such thing as a trust-less loan. Banks will loan you money because they have recourse through the laws of the land. For example, they can take your home, car, garnish your wages or put liens on property if you do not repay the loan. 

Offline wesphily

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Re: Bitshare Loan
« Reply #3 on: February 22, 2015, 06:07:40 PM »
I now understand this doesn't exist yet. I guess I'm asking too much of such a young technology. So far, it has not been able to solve any of my business needs.

Offline cass

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Re: Bitshare Loan
« Reply #4 on: February 22, 2015, 06:14:40 PM »
I now understand this doesn't exist yet. I guess I'm asking too much of such a young technology. So far, it has not been able to solve any of my business needs.

So your business need is to get a  trustless loan!?
May i can ask what a business you have in mind!?
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline oco101

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Re: Bitshare Loan
« Reply #5 on: February 22, 2015, 06:24:56 PM »
Like skyscraperfarms msaid there is no such thing as trust-less loan so in this case is not a technology problem. So maybe if you can give us  ore details on exactly how you want this to work ?

Offline wesphily

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Re: Bitshare Loan
« Reply #6 on: February 22, 2015, 06:43:52 PM »
I'm planning to acquire rental properties through seller financing. I have 2 possible deals. Traditionally, a person would use a hard money lender for down payment if they did not have the capital.

This isn't my only attempt at trying to use bitshares. I have previous posts about trying to use bitshares for other parts of real estate. I think it is because I'm requesting things that are not possible yet.

Offline NewMine

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Re: Bitshare Loan
« Reply #7 on: February 22, 2015, 11:14:06 PM »
I'm planning to acquire rental properties through seller financing. I have 2 possible deals. Traditionally, a person would use a hard money lender for down payment if they did not have the capital.

This isn't my only attempt at trying to use bitshares. I have previous posts about trying to use bitshares for other parts of real estate. I think it is because I'm requesting things that are not possible yet.

If you have the capital or a traditional loan, Your best bet would be to create an asset. You could then sell the asset and then pay it dividends based off your positive cash flow. Unfortunately,  everyone who buys your asset would have to trust you. It would probably work well with  family and friends right now but it would be like your own personal stock. Again you would need the money up front or some great reputation that translated over to being very trustworthy. Perhaps you could start small and prove you're trustworthy. Although to work your way up to house loan amounts may take a long time as our user base is quite puny.

Offline lil_jay890

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Re: Bitshare Loan
« Reply #8 on: February 22, 2015, 11:39:27 PM »
I'm planning to acquire rental properties through seller financing. I have 2 possible deals. Traditionally, a person would use a hard money lender for down payment if they did not have the capital.

This isn't my only attempt at trying to use bitshares. I have previous posts about trying to use bitshares for other parts of real estate. I think it is because I'm requesting things that are not possible yet.

If you have the capital or a traditional loan, Your best bet would be to create an asset. You could then sell the asset and then pay it dividends based off your positive cash flow. Unfortunately,  everyone who buys your asset would have to trust you. It would probably work well with  family and friends right now but it would be like your own personal stock. Again you would need the money up front or some great reputation that translated over to being very trustworthy. Perhaps you could start small and prove you're trustworthy. Although to work your way up to house loan amounts may take a long time as our user base is quite puny.

This seems to be the lynch pin with UIA's.  There needs to be either some form of trust that dividends will be paid honestly or have some central authority to enforce promises made by the borrower... right now there is nothing stopping a borrower from running off with a bunch of bitUSD and leaving the lenders with useless UIA's.

Offline xiahui135

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Re: Bitshare Loan
« Reply #9 on: February 23, 2015, 12:28:27 AM »
you maybe could get the money from bitshares. But the credit of people need to be audit offline for now.

Offline wesphily

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Re: Bitshare Loan
« Reply #10 on: February 23, 2015, 12:41:17 AM »
I guess i'm back to where I was on other posts. A crypto company doesn't have the legal rights needed to facilitate real estate transactions and related vehicles.

I always keep crypto on my mind. If another possible opportunity hits I'll present it.

Tuck Fheman

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Re: Bitshare Loan
« Reply #11 on: February 23, 2015, 01:45:08 AM »
I'd like to be able to allow 1-3 investors loan me a down payment to which I would pay interest on.

Are you the same wesphily from feathercoin?

Offline wesphily

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Re: Bitshare Loan
« Reply #12 on: February 23, 2015, 02:46:51 AM »
I'd like to be able to allow 1-3 investors loan me a down payment to which I would pay interest on.

Are you the same wesphily from feathercoin?

I am.

Tuck Fheman

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Re: Bitshare Loan
« Reply #13 on: February 27, 2015, 05:20:05 AM »

Offline seochallis

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Re: Bitshare Loan
« Reply #14 on: March 20, 2015, 04:13:43 AM »
I think, There are very less chances to get like this kind of loan facility. BitShares is the first proposed Bitcoin-like cryptocurrency-based prediction market system that allows for the creation of new derivative products, which track real-world entities



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