Quote from: HirenBitcoin on August 02, 2018, 11:58:21 AM

Quote from: HirenBitcoin on August 02, 2018, 06:51:20 AM

Can you explain why an app isn't valid collateral?

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No explaination needed. Its the decision of the person who is lending you to decide whether it is a valid collateral or not.

Much better answer!

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I plan on paying off the long-term loan, but just in case I don't/can't, the app will already be in your developer account, so you would continue to earn monthly passive income from it for months/years to come!

FYI, the app has income potential of 10x of the loan amount, since it has already created sales of around 7x the loan amount till now!

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Dont offer it as collateral then or go to some other place to scam people.

You can't tell me what to do and what not to do! ... Not everyone, apart from you, is here to "scam" people! Roll Eyes

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Banks (and the people who run them) are too dumb and technologically backward to understand apps and how they make money, that's why I am approaching the Crypto-community for help.

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Yes and we as dumb as banks.

Please don't generalize and speak on behalf of the entire crypto-community just because you don't understand something!

Then you dont understand that people here as well as companies (including banks) know how to make money from apps. The problem is that future income isnt valid collateral and its also not a promising source of income because the app only charges a one time fee, which is very low and there wont be any ROI and your other app doesnt look to even have people using it. Two, youre asking for $7k+ for an app that dont even worth more than a couple of dollars and if you default the lender is SOL because for one they are likely not going to be able to get people to buy something that they can get for free, and on top of that, they dont have access to the source to make modifications to it and even if they did, its not a secured collateral because you still have access to the source as well. So they would be out $7k+ as well as the fee that you have to pay to apple if anyone buys or purchase withing.

In my opinion, I feel youre trying to sell the apps because you know they arent making money and youre just trying to find someone who is dumb enough to lend you anything.