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Author Topic: BANKS offers LOANS.  (Read 477 times)
Nikola95
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July 29, 2018, 10:06:40 PM
 #21

I think it will be difficult, look at bitcoin prices, the price is very volatile, it means very easy to change. what if someone borrows a bitcoin when the price is 8000 US dollars and returns it at 7000?

Or worse. Borrow at 18 k and return at 7 k . There is no way banks would use BTC or any other coin like they do with fiat money. They are working with fiat, and that's their purpose.
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July 29, 2018, 10:17:09 PM
 #22

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.
I wish that every of our positive questions will be turned to a statement, I mean about bitcoin adoption in all over the world, about telegram going on with their programm, all of our dreams come true.

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July 30, 2018, 11:38:01 AM
 #23

If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.
Right now banks are so big that it is impossible for everyone to get loans as bitcoins because the amount of loans taken out from the banks by people is a lot more than the regular bitcoin can cover. It is just too much, also lets not forget that there is interest as well, will you be paying it back in bitcoin or in fiat ? Why would the bank give you the bitcoin if they are going to get the money back as fiat, you can just get it, save it, when the price increases give it back to the bank and keep the change. It makes no sense at all.

Not so long ago something like this was advertised here on the forum as the upcoming ICO, but I did not see the ICO itself.
When they need to raise funds from this community then I am losing my interest toward them. Traditional banks also doing the same, but in the name of ICOs, I am not believing any more due to my previous bitter experiences.

Quote
I do not think that ordinary banks will deal with issuing loans to fiat on security of crypto currency. This activity is very risky for banks.
When cryptos are becoming a legal tender then banks will not have any problem to deal with cryptos and a crypto adopter. But, we need to wait some more time for that happening around us. Cryptos based loans are new to this community but no colleadreal loans are not got paid back as per many surveys. Hence, we cannot expect easy loan even with crypto based banking environments.

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July 30, 2018, 05:04:43 PM
 #24

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.
I think that banks, especially public ones, will never give out loans in bitcoin or other decentralized crypto currency because of its high volatility. It will be too risky for banks, they will never take such a risk.

In Estonia, CoinLoan is simply an intermediary between the parties for issuing a loan to fiat on security of the crypto currency. In this case, the firm does not take any chances. It reduces the parties to formalize the loan and, I think, takes its interest for it.

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July 30, 2018, 05:25:22 PM
 #25

If it happens like that then the bank will lose a lot of deposit, and certainly a lot of debt incidence. Surely we know that bitcoin is not controlled by anyone and if the bank can control it, then bitcoin will become extinct. I am sure if the bank provides a bitcoin loan then a lot of negative events one of them will damage the price of the real currency.


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July 30, 2018, 06:14:58 PM
 #26

Loans may come with fees, and should you refinance, you are going to have to pay closing expenses. For instance, your loan has to be in good standing. You're able to find out more about debt consolidation loans for those who have less than perfect credit, and loan alternatives, by visiting CareOne's extensive article library.

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July 30, 2018, 06:21:52 PM
 #27

So that's a great idea. But then the whole idea of privacy will be reduced to nothingness. After all, banks should identify who provided the loan.
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July 30, 2018, 06:32:51 PM
 #28

If the banks decide to offer Bitcoin loan today, how will it be managed? I think this might never be a feasible thing nor easy for the banks to do. The cryptocurrency wallets are anonymous and the person taking the loan can deny owning the wallet or even claimed that the wallet has been hacked. Pay back becomes a legal issue. How will it be settled? So therefore, no need for such loans.
This is true if the banks offer loans of bitcoin I think is a hard decesions if they wanna try to convinced loans of bitcoin according to there way of payment.If the price will maintained low price how come of loans can be paid.So much better if it is good for the continuity of the programs.

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July 30, 2018, 06:51:29 PM
 #29

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.
I don't even think that Banks and Crypto would collaborate when it comes to those kind of services because if you do try to differentiate then you will able to see that Banks wont really make any tie up with Crypto and also Bitcoin or any other altcoin wont really need banks help when it comes to loans yet it do can stand on their own without the interference of Banks.

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July 30, 2018, 07:01:32 PM
 #30

I think it will be difficult, look at bitcoin prices, the price is very volatile, it means very easy to change. what if someone borrows a bitcoin when the price is 8000 US dollars and returns it at 7000?

I don't think they want bitcoin in return. They need profit from it. It can be through USD with some percentage for the number of months before you can pay in full amount.

If it is bitcoin to bitcoin payment that you want then the lending section here is all ready for that.
Banks will have their own kind of payment to deal with. If it is crypto to crypto then good but I doubt that will happen.

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August 01, 2018, 07:08:49 AM
 #31

If it happens like that then the bank will lose a lot of deposit, and certainly a lot of debt incidence. Surely we know that bitcoin is not controlled by anyone and if the bank can control it, then bitcoin will become extinct. I am sure if the bank provides a bitcoin loan then a lot of negative events one of them will damage the price of the real currency.
It is unreasonable for the bank to control this bitcoin. But in fact I think it can not happen because bitcoin does not depend on any unit organization. It is independent and has a clear roadmap adopted by the global community. Hope it remains as good as normal. Do not happen to what the community peace of mind to invest.

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August 02, 2018, 06:01:25 PM
 #32

Loan via Bitcoin is very risky. We have understand what the volatility in Bitcoin and how the market responds, from there the price change can be seen, the changes can be terrible and not only profitable but also harmful.


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August 02, 2018, 07:52:40 PM
 #33

I 'm yet to come across any bank that accepts cryptocurrency as collateral for loan advancement.
The idea is not only risky but in practicable .
The volatility nature of cryptocurrency makes the idea difficult to implement.
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August 02, 2018, 08:07:00 PM
 #34

That will require a lot of process because before banks give loans the most first of all know where the found is going and at the same be able to trance the transactions and since bitcoin is highly decentralized it is difficult for the bitcoin transactions to be followed and monitor by the bank.

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August 02, 2018, 08:16:27 PM
 #35

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.

No it won't be beneficial at some point. With a hard price volatility that happening in cryptos since it's inception, it's hard to execute it. It's risky for both parties. It needs a long period of brainstorming and not just because it came up to your mind that "it will be easier this way".

Still no different from the usual fiat lending offered by the banks so I don't see any unique advantages of it. Also tale note of the fees associated with this plus the interest rate. And the worst case scenario, what if the borrowers trading activtity went wrong. It's a big problem how they will able to pay the interest especially if the crypto price suddently goes up.

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August 02, 2018, 08:17:05 PM
 #36

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.

But, unfortunately, there is no one bank that provides bitcoin loan services for us to be able to trade or investment so the opinions that state that banks hate cryptocurrency becomes stronger let alone the goal of bitcoin creator started from his disappointment with the system applied by the bank today.



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Rainbot
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Abolaji11
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August 02, 2018, 09:16:36 PM
 #37

If Banks offers loans for bitcoins. doesn't bitcoins price affect the payments as well? like what if you wanted to make the payment using btc then suddenly the prices go up or down?

I think that will depend on the term of your agreement with the bank. If bank offer loans and accept crypto as collateral(which I strongly believe it won't happen with bank), then user should have an opportunity to customize the amount he or she want and term of the loan.
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August 02, 2018, 09:37:36 PM
 #38

edited: (changed from question to statement)
If the Banks where about to give a service where the people can get a LOAN via Bitcoins I guess, it would be beneficial to all of us,The Banks and The Traders.
I think with this, trading would be a lot more easier, am I wrong?
Escrows will have an easier way to get money from other individuals, and the budgets for the Campaigns will be a lot more than before.
Wish that every our question about crypto will  turn out to be a statement Smiley Will we get 3 ETH for a bounty campaign? Yes, we will.

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August 02, 2018, 11:01:47 PM
 #39

Yes they will give you loan  but unless you have a to own or give something as a guarantee before accessing the loan.But cryptocurrency loans has not been implemented yet but as we go mainstream, one will be able to get digital loans as well just like a bank.
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August 26, 2018, 02:15:19 PM
 #40

I do not know. In fact, I'm very biased about lending and do not consider the use of such services in any area of my life. I consider that the loan is a lasso on the neck or shackles, to whom it is convenient to call.

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