Quote from: LeGaulois on Today at 01:54:46 PM

Currently, if a person is looking to borrow money and try to use a lending platform such as Nex.io, Celsius, or any others he needs collateral.

True, the current DeFi lending services aren't for people who need crypto without already owning some. It's simply a different type of service. In a totally decentralized way, I can't imagine a DeFi service without collateral. But at the other hand, there is a method that can be used for crowdfunding, at least for companies: ICOs. They could be described as a special case of P2P lending.

Quote from: LeGaulois on Today at 01:54:46 PM

Using a P2P lending platform still has problems. I don't see random individuals ready to lend money to the first foreigner coming without knowing him etc. That's how it worked on BTCJam and see yourself how the story finished.

That's what I meant with the part of my post where I argue that banks won't disappear even with massive crypto adoption, as they are the entities who most know about risk management. They can accept more types of collateral and securities than DeFi services could (as these depend on cryptocurrencies), like a house, or an income receipt. Loans will be, in my opinion, a service where banks and similar "financial service firms" will always have an overwhelming market share - at least until AI becomes that smart that we can automatize it, but I think this is very far away still (I think we agree here, actually).

Quote from: LeGaulois on May 22, 2020, 08:16:07 PM

In reality, how would you see this structured (without a 3rd party), and especially how the lenders could be protected?
If I come to your door to tell you "I need 5 bitcoins, I will pay back later 0.5 BTC per month" I doubt you will say Yes

Here I was taking into account the DeFi services with collateral requirements that already exist. For someone who already owns cryptocurrencies and would lend it to another person who wants to use it for short selling activities and get some interest for it, it may work, but there is still the volatility risk.

Quote from: LeGaulois on May 22, 2020, 08:16:07 PM

Are you referring to BitcoinSuisse? Just asking in case there is another country where it's possible to do it (I remember a state in the US too)

I know these services from South American and European countries. Examples:

https://www.satoshitango.com/es-AR/ (Argentina)
https://www.servicrypto.com/ (Colombia)
https://www.bitpanda.com/en/payments (Germany and other Euro countries)
https://bity.com/de/products/crypto-online-bill-pay/ (for Euro/CHF)

Of course you could argue that they're "almost banks", and that these services also need full-fledged banks to work. This is however not a technical requirement - with more adoption/growth the service providers could accept their services directly without an intermediate bank.