Ninjastic
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Re: What is Usury? "De Florijn" project and interest-free credit.
by
merchantofzeny
on 11/05/2017, 19:54:43 UTC
Quote from: btcbug on May 09, 2017, 04:07:02 PM
Quote from: merchantofzeny on May 09, 2017, 03:52:08 PM
Quote from: btcbug on May 09, 2017, 03:00:36 PM
Quote from: davis196 on May 09, 2017, 05:59:27 AM
Interest-free credit is a total nonsense.Nobody would give a loan without any interest.
This guy doesn`t know anything about economics and finance.
Is this Usury thing some other altcoin?


Well to be fair, I think some people would lend money interest free. For example, I bought a car from my parents and instead of paying them they allowed me to make monthly payments with zero interest. Of course, they trust me and that's sort of the core of the issue I think, as @dinofelis said.



They're family sir. Banks deal with strangers. This is why I think there should be more focus on platforms similar to Kickstarter and Indiegogo. By spreading out the source of funding, the borrower can get a larger amount of money and lenders don't take much risk because they only give a small amount of money. It's this moments that I wish I can as 50 cents from each working person on the planet.  Grin

To bad we can't have microtransactions now. I while ago I was thinking of sending a Youtuber a dollar but when I checked the total cost in the exchange, the fee was around 87 cents. Ridiculous. I was late to bitcoins, I've heard it was a good platform for donations in the past.

Of course, I was just pointing out that, "nobody would give a loan without interest" is false. It has to do with trust.

I think all of these new platforms will be good. The more choices the better.



Yes, there should be options for people that would normally not be able to obtain loans from banks. I believe someone has already started some sort of crowdfunding for farmers. It's not exactly interest free but I believe you can buy "shares" for as low as 40 cents. This is given to the farmers for seed and I believe machinery rental. Funders then get a small interest when the rice is harvested and sold.

EDIT: Oh I looked around and finally found an article about them. http://inc-asean.com/editor-picks/start-helping-filipino-farmers-one-crowdfunded-farm-time/

I believe I first heard about it a few years ago so I didn't remember the exact details.