Crypto Loans Reach More Than $110 Million with $88 Million Outstanding

[ccryptopark]

https://finance.yahoo.com/news/babelbank-rebrands-babelfinance-amid-surge-100000153.html

A record high number of crypto-backed loans has recently been announced by BabelFinance.
They offer Financial services for crypto investors, miners and institutions including loans in stablecoins, collateralized by deposits in Bitcoin but soon to include other altcoins.

I would imagine once they have the other alt coins up this number will grow

[dothebeats]

https://finance.yahoo.com/news/babelbank-rebrands-babelfinance-amid-surge-100000153.html

A record high number of crypto-backed loans has recently been announced by BabelFinance.
They offer Financial services for crypto investors, miners and institutions including loans in stablecoins, collateralized by deposits in Bitcoin but soon to include other altcoins.

I would imagine once they have the other alt coins up this number will grow

I wonder how would that pan out knowing that there had been growing pains and doubts with stablecoins? If those asking for loans already have bitcoins on their arsenal and are using them as collateral, why would the need to loan stablecoins ever arise? They could just sell their bitcoins and literally have funds without having to ask for loans which will net them huge interest in the long run, too. Perhaps in the near future we will be seeing more and more loaning platforms such as this because people feel the need to ask for loan even though they really don't need it at all.

[pooya87]

I wonder how would that pan out knowing that there had been growing pains and doubts with stablecoins? If those asking for loans already have bitcoins on their arsenal and are using them as collateral, why would the need to loan stablecoins ever arise? They could just sell their bitcoins and literally have funds without having to ask for loans which will net them huge interest in the long run, too. Perhaps in the near future we will be seeing more and more loaning platforms such as this because people feel the need to ask for loan even though they really don't need it at all.

most of the people who are taking a loan in a cryptocurrency are pure gamblers. not just gambling in an actual gambling game but mainly gambling in the market while thinking of themselves as traders. what they do is that they take a loan in whatever cryptocurrency, then put that in the market trying to increase it by trading shitcoins with their pump and dumps and end up with enough money to pay back the loan leave some profit in their pockets. basically they want to do it with something other than their main capital which is why they use their bitcoin as collateral.
and since their gambling doesn't turn out well for most of them most of the times, there is a raw market filled with lots of profit for lenders and lending platforms like this.

[avikz]

https://finance.yahoo.com/news/babelbank-rebrands-babelfinance-amid-surge-100000153.html

A record high number of crypto-backed loans has recently been announced by BabelFinance.
They offer Financial services for crypto investors, miners and institutions including loans in stablecoins, collateralized by deposits in Bitcoin but soon to include other altcoins.

I would imagine once they have the other alt coins up this number will grow

Crypto loan is a very flawed business model. It's similar to a gold backed loan but with huge volatility. Gold backed loan still makes sense because the price is somewhat stable, but for crypto, it is highly unstable and fluctuative in nature!

Let's assume, bitcoin's price it at 8000 USD now and a person takes a million dollar loan in stable coin against similar amount of bitcoins. Now within a month, bitcoin's price goes below 4000 USD, but the borrower is still at millions due to the stable price and now he decides to default.

Secondly, this person lives in Malaysia and taken this loan from UK, what that company can do to recover this money?

There are a lot of IFs and BUTs in this business model and highly prone to the risks of price fluctuations.

[TimeBits]

https://finance.yahoo.com/news/babelbank-rebrands-babelfinance-amid-surge-100000153.html

A record high number of crypto-backed loans has recently been announced by BabelFinance.
They offer Financial services for crypto investors, miners and institutions including loans in stablecoins, collateralized by deposits in Bitcoin but soon to include other altcoins.

I would imagine once they have the other alt coins up this number will grow

Anyone who takes a loan and that loan has interest on it, compound or not, has to create money that does not exist and can never be paid back ever without creating more money which is more debt, The loan just compiles more on to new people.

https://www.usdebtclock.org/world-debt-clock.html

There will be no way after 2045, to create new bitcoins to repay that debt, GOOD LUCK!

In fact: There will be no banker bailouts. So if you take a btc loan in the future you are completely fucked as it will cause hyperdebtflation.

1 btc will be = $928390127889037812089387091287390128903819028309128739871208937128730897128903708912739012798037190823760918763698175396871563 USD and by the time you make enough to pay back that 1 btc you will need another $128937612986478901260487612708346087126478971289128937619826379812637981627 to cover the inflation cost of the growth of that btc in fiat before you can even pay back the loan.

Granted the banker bailouts only even escalate the problem even faster, they are throwing bandaids at a fucking thing that needs stitches.

I don`t think you guys realize what is coming, We are all fucked and the more we ignore it the more fucked we get.


What good is a btc when the fiat is returns to its intrinsic value? of 0!

Heed my warning we need to start trading time into bitcoin and you only measure fiat into bitcoin, start to measure time ASAP.

https://www.youtube.com/watch?v=Y7TLFyK_3Pk end of bitcoin/gold/fiat.

https://bitcointalk.org/index.php?topic=5151153.0

[avikz]

1 btc will be = $928390127889037812089387091287390128903819028309128739871208937128730897128903708912739012798037190823760918763698175396871563 USD and by the time you make enough to pay back that 1 btc you will need another $128937612986478901260487612708346087126478971289128937619826379812637981627 to cover the inflation cost of the growth of that btc in fiat before you can even pay back the loan.

What drugs you do buddy?? It seems like really high in quality!!

[TimeBits]

1 btc will be = $928390127889037812089387091287390128903819028309128739871208937128730897128903708912739012798037190823760918763698175396871563 USD and by the time you make enough to pay back that 1 btc you will need another $128937612986478901260487612708346087126478971289128937619826379812637981627 to cover the inflation cost of the growth of that btc in fiat before you can even pay back the loan.

What drugs you do buddy?? It seems like really high in quality!!

It is called common sense and logic it is a pretty good drug I abuse it a lot.



I think it might of been from eating fresh real fruit as a child, not soy and wheat filled with roundup and GMO`S that we have no clue what they do in long term us, I grew and ate dah watermelons with the black seeds.

[traderethereum]

It will grow in the future, especially if people can see their chance to make a big profit from crypto.
People will borrow some money from the third party to invest in the cryptocurrency because they believe that soon, the price will reach the highest price.
But for wise people, they don't want to get any risk, especially for the risk of paying the money's back.
They will do what they can do, try as much as they can do to make money from the money they have and not stop because they will make another big profit soon.

[Adriano2010]

This are loans taken from sites only? Or this also apply to loans taken here on forum? I also think in future the number of loans will grow but if people are smart enough can make some extra money even if they take a loan.