BitShares Forum
Main => General Discussion => Topic started by: CLains on October 08, 2014, 04:37:58 am
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‘‘The startups chasing disruptive technology aren’t working within the existing system. This is the cryptocurrency phenomenon. If it works, we can re-implement the entire financial system as a distributed system as opposed to a centralized system. We can reinvent the entire thing.
‘think about the scenario of a loan officer talking to a prospective client. To software people, that looks like voodoo. The idea that you can sit across the table from somebody and get a read on their character is just nonsense.
http://www.businessweek.com/news/2014-10-07/andreessen-on-finance-we-can-reinvent-the-entire-thing
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Wow. Nice find.
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‘think about the scenario of a loan officer talking to a prospective client. To software people, that looks like voodoo. The idea that you can sit across the table from somebody and get a read on their character is just nonsense.
Couldn't agree more. One of the things I invest in is lendingclub.com. It's pretty much a p2p lending service (with amazing returns). I was just thinking how AMAZING it would be to have a decentralized p2p DAC. If nobody has thought of this they really should consider it. I think it would take off like wild fire and be a huge success if done properly.
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‘think about the scenario of a loan officer talking to a prospective client. To software people, that looks like voodoo. The idea that you can sit across the table from somebody and get a read on their character is just nonsense.
Couldn't agree more. One of the things I invest in is lendingclub.com. It's pretty much a p2p lending service (with amazing returns). I was just thinking how AMAZING it would be to have a decentralized p2p DAC. If nobody has thought of this they really should consider it. I think it would take off like wild fire and be a huge success if done properly.
You are cute...
bitshares DNS just launched and is tradable only a few days ago
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You are cute...
bitshares DNS just launched and is tradable only a few days ago
Thanks! 8)
bitshares DNS just launched and is tradable only a few days ago
Hmm I was not aware bitshares DNS issued consumer loans?
Or maybe you misunderstood me. I'm not talking about domain names. I am talking about consumer loans (like a credit card does). So for example someone wants to get a new pool for $30,000. If they go to lendingclub.com they sign up for a 3-5 year loan with 20-30% interest.
Investors each contribute $25 dollars to the loan until the person reaches the $30,000 goal and gets the loan. The investor can be regular people like you and I hence p2p lending. Make sense?
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Seems the lending idea is either in the works or has at least been discussed. It's on the "Future Industries" page.
http://bitshares.org/industries/future-industries/
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Seems the lending idea is either in the works or has at least been discussed. It's on the "Future Industries" page.
http://bitshares.org/industries/future-industries/
Ah I wasn't aware of that, thanks!
That's awesome. Can't wait for that to come out. When it does come out that should give btsx such a great boost.
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Well couldn't you just create a lending club clone, only instead of using dollars you would use Bitshares or Bitcoin?
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Yes they have a very good model and we could just copy it. In fact it would be an absolutely great fit for the new BTS superDAC.
Bytemaster talked about how he is working on, on and off ramps for people to be able to pay off their credit cards with bitUSD. Well that's just perfect because most of these people take out loans to pay off their high interest rate credit cards.
(https://www.payoff.com/blog/wp-content/uploads/2011/03/lendingclub_credit_portion.png)
That could create HUGE demand for bitUSD.
I imagine it would work similarly to Bitshares Music. There would be a block chain and a whole bunch of "store fronts" (peertrack). The store fronts would have different models and attract different types of investors. They would be able to pull peoples credit reports and other info to give them an interest rate. The only down side I can see to this is regulation. The store fronts would have to follow regulation and get approval. Some states still don't allow p2p leanding. Luckily lending club has been taking care of this.
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Great idea! In terms of regulation LendingClub is leading the way all we would have to do is do what they have done with the exception of the currency being used. I think that for Bitshares to grow we need more people using BitUSD for online purchases and not necessarily more investors. Without consumers using BitUSD for purchases there is no ROI.
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http://www.usatoday.com/story/money/2014/12/11/ipo-stocks-markets-tech-loans-/20241925/
LendingClub, a kind of Kickstarter for loans, saw its stock soar more than 60% in its first day of trading Thursday before closing up a hefty 56.2%.
LendlingClub (LC), which matches borrowers with lenders, including individual lenders, soared to as high as $25.44 a share at its open, up 69% from its $15-a-share initial offering price. The stock ended the day up 56% to $23.42 a share.
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http://www.usatoday.com/story/money/2014/12/11/ipo-stocks-markets-tech-loans-/20241925/
LendingClub, a kind of Kickstarter for loans, saw its stock soar more than 60% in its first day of trading Thursday before closing up a hefty 56.2%.
LendlingClub (LC), which matches borrowers with lenders, including individual lenders, soared to as high as $25.44 a share at its open, up 69% from its $15-a-share initial offering price. The stock ended the day up 56% to $23.42 a share.
Yea it's a great idea, great company and it has been one of my most fruitful investments over the years. It's also a relatively new market and if bitshares could get in now... well I couldn't even imagine what would happen!
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Almost 9 billion market cap. Things are happening!