|
August 13, 2012, 11:49:52 PM |
|
So, since the idea of credit reporting has been kicked around a lot lately... and I've been thinking about it for a while too, I have a few questions (which are incredibly US centric):
- What is the general view toward fixing loans in USD (or other fiat currency) and not BTC? - Would borrowers be okay with having their Bitcoin payments reported to their "real life" credit report? - Would lenders be okay with having a third-party company service their loans (like how US student loans and mortgages are done -- you give the money and own the debt, but somebody else is responsible for collecting and such for it)?
I ask these questions because there's a lot of talk about wanting real life credit reports. It's a good idea, but unless you're going to trust borrower-provided reports, a hard inquiry results in a ding to a credit score. Since reporting a loan in BTC is extremely difficult and doesn't happen at present, it's inherently unfair for the borrower to get a ding to their credit score for a BTC loan with no hope of it reporting. Soft inquiries are an option, but can only be done for certain reasons. I also realize some of these things go against the anonymity-hawks desires, but I think if you're seeking to borrow a significant amount of money, anonymity gets to take a backseat.
|