Ninjastic
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Re: Invest or not invest into crypto currency? here is the question
by
piramida
on 10/12/2013, 21:03:32 UTC
Quote from: CoinCidental on December 10, 2013, 08:36:10 PM
Quote from: piramida on December 10, 2013, 02:15:26 PM
Quote from: Mylon on December 09, 2013, 12:00:21 AM

The reason why it can't happen now, is today I loan a bitcoin, tomorrow that bitcoin could be half its value, or double its value... its just too high-risk, and thus there is a pretty big chance of losing money.

All good reasons, but how would you explain that I've been lending bitcoins out for the last year? Use bitfinex, easy, varying return percentages. And the best part is - you lend 1 bitcoin, you always get back 1 bitcoin plus interest, and it's value is... exactly 1 bitcoin! Never half or double of that.

ok ,why would i lend my bitcoin to a an untrusted  third party to hold it for a year  or two
and then take it back with interest and i get back "exactly 1 bitcoin ! Never half or double of that."

why not just keep it myself and eliminate the third party risk ?

I was interested in how bitcoin lending works. I got the 1-6% varying on top of the original 1BTC, remember? Smiley Of course there is a risk of the exchange running away, and I'd definitely never put anything larger than 10BTC there. But Mylon said that bitcoin loaning "can't happen now", I just pointed out that it in fact is happening, even if only on exchanges.