Author Topic: BITUSD P2P Lending  (Read 9820 times)

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Offline Mako

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looking forward  to it

Offline Mysto

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Would their be a way to add the variable interest yield of BITUSD into the repayment of the loan?

Actor A lends BITUSD to Actor B. B turn BITUSD into USD. Could those same BITUSD be holded somewhere (multisig?) And then be added to the total ROI?
I have thought about this as well and it doesn't seem possible. The reason is who ever owns the bitUSD is the one who gets the yield. In this case Actor A owns the debt. Actor B owns nothing. Actor C (who ever Actor B gives the money to) is the one who owns the bitUSD which means they are the ones who get the yield.

Offline RenaudGagne

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Would their be a way to add the variable interest yield of BITUSD into the repayment of the loan?

Actor A lends BITUSD to Actor B. B turn BITUSD into USD. Could those same BITUSD be holded somewhere (multisig?) And then be added to the total ROI?

Offline xiahui135

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I don't think a p2p lending will work.
the most important thing for lending is credit. But you can not know what kind of person behind the network, especially on a anonymous network like bitcoin or bts network.
but a P2P lending company which accept BitUSD maybe will work.  How you value the customer will rely on traditional way. But you may attract international investors if your P2P lending platform can earn more than those in their own country.
Borrowers can't remain fully anonymous. They have to verify their identity and reveal quite a bit about themselves if they want to take out a loan. Investors on the other hand can remain as anonymous as they want.
Yes, i agree with you. The investors may keep anonymous, and this is a convenient way for international investors.

Offline Mysto

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I don't think a p2p lending will work.
the most important thing for lending is credit. But you can not know what kind of person behind the network, especially on a anonymous network like bitcoin or bts network.
but a P2P lending company which accept BitUSD maybe will work.  How you value the customer will rely on traditional way. But you may attract international investors if your P2P lending platform can earn more than those in their own country.
Borrowers can't remain fully anonymous. They have to verify their identity and reveal quite a bit about themselves if they want to take out a loan. Investors on the other hand can remain as anonymous as they want.

Offline xiahui135

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I don't think a p2p lending will work.
the most important thing for lending is credit. But you can not know what kind of person behind the network, especially on a anonymous network like bitcoin or bts network.
but a P2P lending company which accept BitUSD maybe will work.  How you value the customer will rely on traditional way. But you may attract international investors if your P2P lending platform can earn more than those in their own country.

Offline rgcrypto

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Offline Mysto

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I get it Mysto. Now since I am no dev and would like to promote bitusd, do you think they could take BITUSD off the shelf right now and start using it on their website without a new bitshare blockchain?

Yes but not in the way I talked about. What I mean is they could use bitUSD for its stability but as far as I know they can't use the bitshares blockchain as a ledger for who owns what loan. They could definitely use bitUSD right now if they wanted without a problem.

Since you are more on the marketing side you should consider registering at http://forum.nullstreet.com/. It's the "super secret" bitshares marketing forum which I think would suit you.

Offline RenaudGagne

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I get it Mysto. Now since I am no dev and would like to promote bitusd, do you think they could take BITUSD off the shelf right now and start using it on their website without a new bitshare blockchain?

Offline Mysto

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To me, btcjam and the like are probably hurting from bitcoin price volatility. BITUSD could solve their problem and benefit BitShares by growing the market cap.

Since I am a marketer(and not a dev), it would be my first instinct. Now I don't know if BITUSD can support it.

Are you interested personally in starting something like a BitsharesLend Mysto or are you  more interested in growing the market cap?

Yes bitUSD could easily handle that. I think you are misunderstanding me.


Allow me to quote a section of the Bitshares Music Paper to help clarify.
2.2.0 PeerTracks
The first front end to use the BitShares Music technology will be the PeerTracks website. Allowing for a user friendly way for artists to harness the true power of their fans through incentivized, peer 2 peer, talent discovery. Hence, BitShares Music and PeerTracks are two separate, independent entities. PeerTracks uses the BitShares Music blockchain and adds value to the network just as Bitpay uses the Bitcoin blockchain and adds value to that. One does not own the other. If PeerTracks were to disappear, or get shut down, this would not affect the BitShares Music blockchain anymore than Bitcoin would be affected if Bitpay was shut down. It would go on as long as transactions are processed. Other front ends could pop up, whether it be websites, apps, desktop clients, etc. PeerTracks does not have a monopoly on who gets to be the front end for the blockchain. There could be dozens or hundreds of websites all bringing in value and volume to BitShares Music.

So you see it's not Bitshares Lend or btcjam or bitlendingclub, it's Bitshares Lend and btcjam and bitlendingclub.
Bitshares Lending is the blockchain (the public ledger of who owns what).
Btcjam and bitlendingclub are the "storefronts" that rely on the blockchain.
Bitshares Lending makes money when a transaction takes place (for example someone trading a loan)
Btcjam and bitlendingclub make money by issuing the loans.

This is all of course assuming we could convince btcjam and bitlendingclub to use Bitshares Lend.
Also remember that as I said before we don't need to create a new blockchain (Bitshares Lend) we could just use the Bitshares blockchain but that is up to the devs and the community.

Hope this clarifies. Here is a link to the paper if you still don't understand...
https://bitsharestalk.org/index.php?topic=9360.0

Offline RenaudGagne

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If we can figure that out we could compete with them pretty easily.
Actually I take that back. If you think of Bitshares Lend like Bitshares Music then BTCJam could be what PeerTrack is to Bitshares Music. In other words BTCJam could be just another "storefront".

Edit: Same goes for bitlendingclub.
To me, btcjam and the like are probably hurting from bitcoin price volatility. BITUSD could solve their problem and benefit BitShares by growing the market cap.

Since I am a marketer(and not a dev), it would be my first instinct. Now I don't know if BITUSD can support it.

Are you interested personally in starting something like a BitsharesLend Mysto or are you  more interested in growing the market cap?

Offline Mysto

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If we can figure that out we could compete with them pretty easily.
Actually I take that back. If you think of Bitshares Lend like Bitshares Music then BTCJam could be what PeerTrack is to Bitshares Music. In other words BTCJam could be just another "storefront".

Edit: Same goes for bitlendingclub.
« Last Edit: December 27, 2014, 01:37:32 am by Mysto »


Offline RenaudGagne

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Actually btcjam is not as good as bitlendingclub.com . They may get in trouble with trademarks in the future though...

They have a descent size blog that can give insights about how it works under the hood.

Offline Mysto

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Do you think I can approach https://btcjam.com and others like that with BITUSD? Can BITUSD support it?
That is very interesting. I wonder how they are able to issue loans everywhere like that (legally). I'll have to do more research when I have time.
If we can figure that out we could compete with them pretty easily.

https://btcjam.com/stats