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July 26, 2017, 02:06:21 AM |
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(before reading my post check my feedback, it gives you context).
I also was looking for BTC a year ago. In my country they usually only lend about 4times thee minimum wage for People Capital loans, or at insane rates which I rather don't use that option as I am not feeding banks lol.
I hijacked the thread because I have been thinking about this issue for a long time. And I might share my ideas (it might be usable for you, and maybe to me or someone else).
Take a look at the bitshares platform. I am still trying to figure if what I am thinking is possible.
The possibility to create a bond, and sell it at a higher amount than needed, so all lenders can split the risk (?). But first I need to understand if the platform gives the possibility to "hold the BTC in excess" (that way instead of for instance 1:1 btc needed, if would be split, and the default risk would be 100% but fair less) . If it doesn't give you that option and you have to personal keep it, or one of the lenders/investers then It doesn't give you any credibility, only a scam alert to anyone.
I'am still trying to figure what would be the most secure way for someone to invest in me, and how they could have returns on the excess BTC in BTC revenue.
One of the things I grasped was that there is a need to have a escrow. People find way to insecure to deposit a currency that is impossible to retrieve (that is why I am looking at bitshares, but there is a need to be a secure way to store and manage the investors coins without the borrower having power over it, the ones in excess of the amount needed).
Other thing that I grasped is. Look at your country law.
For instance my country is an Europe Union country, using EUR. Financial and Civil laws and regulations even if they are different from one country to another, there is a single entity that can regulate or resolve disputes. The European Supreme Court.
Also in my country it is allowed to borrow from a person and not only an institution and ask for interest.
There is a chance to do a contract setting payment, value, interest, interest over missed set repayments, etc. There is one limitation in my country law, which set a maximum interest rate for when the contract is made according to that year interest. For instance 2 years ago someone could ask until 7% interest to be paid each instalment. And no more than 13% over missed repayments.
For this option, legal action is available in my country and in the all EU on any court of law as cryptocurrencies are classified as assets, as it was rulled recently in Europe Supreme court.
Also you should have to think how one would do all the legal requirements (contract, identity check, etc) make sure to include also a repayment plan. And don't just get the "I'll pay this". Explain and prove how your income arrive. Your expected spendings and future earnings, etc.
So take this ideas, and see if you can create the balance between your benefit and lender risk and confidence. If so send me a PM, as I refuse to pay ungodly interest rate to capitalists and would rather share profit with people like me. Also if you can pick this ideas and solve this problem, I would be thankfull from this life to the next, and I believe also millions of btc holders who wait for a decent, safe, and profitable way to enter the investing/loan world in crypto coins.
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