Quote from: yvv on September 07, 2017, 02:25:32 PM

Quote from: favdesu on September 07, 2017, 02:09:12 PM

Quote from: mig6r on September 07, 2017, 04:59:57 AM

Quote from: scaryvirus on September 06, 2017, 03:02:23 PM

Quote from: mig6r on September 06, 2017, 07:46:06 AM

Is the lending business coming soon to Bitshares?

If I get enough support on the idea, it can turn into a worker to hire devs to do it: https://bitsharestalk.org/index.php/topic,24890.0.html

That would be absolutely awesome, but it requires quite some time to really set it up and make it functional, correct?

P2P lending is a waste of time and money in my opinion. too much scam

This requires trust between parties, which is difficult to achieve in p2p manner. Nevertheless, different types of lending on blockchain are absolutely possible and are happening already. For example, crowd funding through ICO is a sort of lending.

This isn't lending like someone just giving you money, it's locking up MORE in worth of collateral to get something else + debt to unlock collateral. At no point do you have access to more free borrowed money than you have locked up.

1. It does not require any trust between parties due to locked collateral - see how bitUSD lending works, then see the proposal I wrote up
2. It would enable trustless higher (1-4x?) leverage trading enforced by blockchain (crazy often requested)
3. It would enable lending markets (crazy often requested)
4. It would work for any pair or coin lenders choose including trustless gateway coins proposed in parallel

1+2+3+4 would drive more users to the exchange, create more liquidity, create more fees, which in turn will fund the DAO (DAC) and reduce supply of BTS

Ok, so for next steps I'll focus on:

1. I think I have to write up a super proposal with extra graphics, math, layout suggestion, and explanations
2. submit to github core issues as suggestion
3. submit worker with link to github just to communicate as bitcrab suggested before
4. if 2+3 go well, DAO gives us funding for proper devs & workers for this task.

imo this is the future of BTS: the newly funded UI rework + universal margin + universal lending + trustless gateways i.e. sidechains + businesses building on it all = mutually beneficial for everyone