Pursuer
Legendary
 Offline
Activity: 1638
Merit: 1163
Where is my ring of blades...
|
 |
July 16, 2018, 05:45:27 AM |
|
...
This is kinda unfair.I wish the companies,who offer bitcoin loans to include something like a discount agreement attached to the loan contract.For example,if I borrow a 1 BTC loan and the bitcoin price increases by 50% I will payback 0.5 BTC+the loan interest rate.This will boost bitcoin adoption for sure.
you are getting a loan in "Bitcoin" not in "fiat" so why should you pay it back based on its fiat value? also would you pay back 2 BTC+interest if the price fell down 50%? since it can go both ways. in my opinion, like any loan you should only consider how much you took in BTC not in fiat and then pay back that in BTC and that is completely fair. besides people usually take these loans to trade with so they are making profit on the bitcoin they took and in the future price will be a lot more stable so all this wouldn't matter. |
Only Bitcoin
|
|
|
|
|
|
|
|
|
|
|
|
Whoever mines the block which ends up containing your transaction will get its fee.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
Kakmakr
Legendary
Offline
Activity: 3430
Merit: 1957
Leading Crypto Sports Betting & Casino Platform
|
|
July 16, 2018, 06:18:56 AM |
|
Wow this is really an innovative strategy to promote bitcoin. Bitcoin has relatively gone so far on its mileage of achievement though there are many critics on it but still bitcoin continue to strive and prove its worth. Well i had enough loan on bank and i am not qualified on this even if they offer it outside on their country. Exchanges in Japan looks like banks, they applied KYC and AML regulations, so using a loan in BTC seems very similar when you use a normal bank's loan. The difference is that if you don't have incomes in BTC, you can have a problem with the exchange rate (e.g. if the BTC price goes to the moon, you have to pay back much more in fiat compared to the amount you have received in the beginning) If this is true, then this is a terrible idea. People are already knee deep into debt and now they need to take loans on something that are very volatile.  I should think that the loan is only applicable on the fiat capital that were funded at the time of the transaction, by the Bank. <So on the date of the loan, you buy $10 000 worth of bitcoins and you only pay back that amount and not the increased value of those bitcoins> You would be stupid to pay back a loan on the basis that the loaned amount increased based on the price of Bitcoin. Last year the price increased by 800%+ |
| ..Stake.com.. | | | ▄████████████████████████████████████▄
██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄
██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████
██ ██████████ ██ ██ ██████████ ██ ▀██▀
██ ██ ██ ██████ ██ ██ ██ ██ ██
██ ██████ ██ █████ ███ ██████ ██ ████▄ ██
██ █████ ███ ████ ████ █████ ███ ████████
██ ████ ████ ██████████ ████ ████ ████▀
██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
██ ▀▀▀▀▀▀▀▀▀▀ ██
▀█████████▀ ▄████████████▄ ▀█████████▀
▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄
██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█ ▄▀▄ █▀▀█▀▄▄
█ █▀█ █ ▐ ▐▌
█ ▄██▄ █ ▌ █
█ ▄██████▄ █ ▌ ▐▌
█ ██████████ █ ▐ █
█ ▐██████████▌ █ ▐ ▐▌
█ ▀▀██████▀▀ █ ▌ █
█ ▄▄▄██▄▄▄ █ ▌▐▌
█ █▐ █
█ █▐▐▌
█ █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀ ▐█▌ ▀█▄
██ ▐█▌ ██
████▄ ▄█████▄ ▄████
████████▄███████████▄████████
███▀ █████████████ ▀███
██ ███████████ ██
▀█▄ █████████ ▄█▀
▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀
▀███████ ███████▀
▀█████▄ ▄█████▀
▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
opendata
Newbie
Offline
Activity: 25
Merit: 0
|
|
July 16, 2018, 07:17:28 AM |
|
This is the very innovative idea for promoting bitcoin and really interesting if this kind of loan give peoples more confident to invest in bitcoins and they easily understand cryptocurrency if this type of exchange come again and start this kind of service then will be very good for bitcoin and cryptocurrency future.
|
|
|
|
|
|
hadveach
|
|
July 16, 2018, 08:13:56 AM |
|
this is a good idea, I think this loan system needs good assets and strategy. maybe the basic system can follow fast invest, FinTech company.
Its market capitalization is very good, and always growing well every year. many of the services we use are like consumers and capital owners can meet in one application.
|
|
|
|
|
|
arthotdog
|
|
July 16, 2018, 08:32:04 AM |
|
Good action from the Japanese cryptocurrency exchange bank since they are the crypto safe haven this is better for them to start or pioneer to let people borrow bitcoin with such small interests What i can tell rhere is follow this steps to all nations that has good policy about this coin so the crypto will boom on that particular country and same as the others |
|
|
|
|
avikz
Legendary
Offline
Activity: 3066
Merit: 1498
|
|
July 16, 2018, 08:36:05 AM |
|
So crpto exchanges are now thinking of working as a bank I see! I mean that's the basic methodology of a bank. Are they accepting deposits as well from the public or they are just lending the money they are earning from the exchange?? It is particularly good because it will help the adoption rate of bitcoin and increase the cash flow into the system. Which is really needed for the sustainability of bitcoin in long run. |
|
|
|
|
lumira555
|
|
July 16, 2018, 08:41:23 AM |
|
It is a creative idea to promote bitcoin
this is an interesting idea but whether it will be in demand will show time  |
|
|
|
kidsrock
Newbie
Offline
Activity: 280
Merit: 0
|
|
July 17, 2018, 06:01:19 AM |
|
I don't know about this idea because I never borrow bitcoin from another people or another third service. it is better to keep trying to earn bitcoin from many ways than to borrow because I think I cannot pay that bitcoin if somehow, I am losing much money. but if this is a good idea for many people then they can try this service and I hope that they can still make a profit and don't forget to pay the money you borrowed.
|
|
|
|
|
casternetwork
Member
Offline
Activity: 294
Merit: 10
★YoBit.Net★ 1400+ Coins Exchange
|
|
July 17, 2018, 12:00:22 PM |
|
I never underestimate Japan. For me, Japan is the strongest country. Japan will in the future be the number one economy in the world when Japan knows that Bitcoin is the future of this country.
|
Am I spamming? Report me!
|
|
|
|
cryptjh
|
|
July 17, 2018, 12:43:57 PM |
|
They lend you one Bitcoins if they can see from you history that you’re a trader with a big volume, the Bitcoins you lend can only be trade on their platform, where they get a small commission each time you do a trade, you can’t withdraw anything before you have paid them back first.
A number of stock tracings platform already do this with loans for stock trading.
I think this option is a good thing for their customers, but I’m not sure I would lend Bitcoins to go trade with them.
|
|
|
|
|
|
Asimmo
|
|
July 17, 2018, 12:48:31 PM |
|
Innovative idea, although it has some disadvantages. First: exchange rates, as banks/exchanges should exchange fiat in crypto and issue loans afterwards. Second: High volatility will result in high interest rates. Third: Collateral - what will be requested as collateral? real estate? or crypto coins? This will have influence on interest rate as well. |
|
|
|
|
sedihnya8
Newbie
Offline
Activity: 140
Merit: 0
|
|
July 17, 2018, 02:41:51 PM |
|
loans in bitcoin form? Japan is a very amazing country, we can borrow bitcoin and trade it. after a profit we can pay the bitcoin we borrow, a very good financial breakthrough |
|
|
|
|
|
bitart
|
|
July 17, 2018, 05:47:07 PM |
|
loans in bitcoin form? Japan is a very amazing country, we can borrow bitcoin and trade it. after a profit we can pay the bitcoin we borrow, a very good financial breakthrough Or, if you trade with loss, (if you use margin, for example...) and you have a margin call and your whole deposit is gone, you can pay back all the bitcoins you have borrowed from your fiat income (and if the exchange rate goes up, you will pay back much more than you borrowed... |
|
|
|
|
|
dupee419
|
|
July 17, 2018, 06:08:18 PM |
|
Well, since it is from Japan, I think that it'll be successful, not only because the project is made by Bitbank, but to also think that they are very clever and witty about this, Bitcoin loan is very unique, there are lots of theories about it and now they are making it happen, BTC-USD is a great form of loan, hopefully this comes out well.
|
|
|
|
|
|
DBronze98
|
|
July 17, 2018, 06:12:07 PM |
|
Using Bitcoin as a loan, is it a great option or stupid? If Bitcoin goes down, it would be great for the borrowers, and if it goes up, I believe the banks will make a significant profit. But surely Bitcoin will not go down, and it will come up, it's a great option.
|
|
|
|
|
nidacoinlove
|
|
July 17, 2018, 06:32:08 PM |
|
Well, since it is from Japan, I think that it'll be successful, not only because the project is made by Bitbank, but to also think that they are very clever and witty about this, Bitcoin loan is very unique, there are lots of theories about it and now they are making it happen, BTC-USD is a great form of loan, hopefully this comes out well.
I don't see it practical as for some of the time period the borrowed Bitcoin will be locked so can't do any activity with it, at least not trade. Those who are thinking that they will borrow on easy terms of BTC-USD pay back for trading purpose, this idea don't worth them. For some of the people like escrow it may work. But honestly speaking I don't like the idea of paying back into fiat, in both the cases if price goes up or down the only beneficiary will be bitbank. |
|
|
|
|
popsywura
Jr. Member
Offline
Activity: 112
Merit: 1
|
|
July 17, 2018, 06:35:05 PM |
|
This is welcome development to promote Bitcoin usage, I just hope it will not be limited to Japan alone. At least with adoption of KYC And AML they should able to render the service across.
|
|
|
|
|
|
n0ne
|
|
July 17, 2018, 06:48:05 PM |
|
Cryptocurrency loan through exchanges in a regulated manner makes the usage of bitcoin more effective. When loans were provided in the form of more people who haven't known about bitcoin will come to know about it. Such a service in Japan is not a big thing as it is already a major supporting country of cryptocurrency.
|
|
|
|
lumedeee02
Newbie
Offline
Activity: 209
Merit: 0
|
|
July 17, 2018, 09:10:58 PM |
|
This is another good news for crypto currency this will definitely make more people to know about bitcoin and this will surely help the price of bitcoin
|
|
|
|
|
|
Diced90
|
|
July 17, 2018, 09:15:13 PM |
|
Wow this is really an innovative strategy to promote bitcoin. Bitcoin has relatively gone so far on its mileage of achievement though there are many critics on it but still bitcoin continue to strive and prove its worth. Well i had enough loan on bank and i am not qualified on this even if they offer it outside on their country. Exchanges in Japan looks like banks, they applied KYC and AML regulations, so using a loan in BTC seems very similar when you use a normal bank's loan. The difference is that if you don't have incomes in BTC, you can have a problem with the exchange rate (e.g. if the BTC price goes to the moon, you have to pay back much more in fiat compared to the amount you have received in the beginning) If this is true, then this is a terrible idea. People are already knee deep into debt and now they need to take loans on something that are very volatile. I should think that the loan is only applicable on the fiat capital that were funded at the time of the transaction, by the Bank. <So on the date of the loan, you buy $10 000 worth of bitcoins and you only pay back that amount and not the increased value of those bitcoins> You would be stupid to pay back a loan on the basis that the loaned amount increased based on the price of Bitcoin. Last year the price increased by 800%+ I very much agree. This situation would only seem to aggregate and further complicate things at both ends. It would be best to agree on the BTC at the time of purchase + IR |
|
|
|
|
|
