We are willing to use our site as collateral to insure no interest payments or the loan payment is missed. Meaning, if we default you will have control of our domain/brand/server/customer list/advertising accounts/marketing material/modules, ect.
Worthless, altcoins are required
How is that worthless
His whole website/domain etc could be worth more than the loan it self. As well as the fact this loan is going towards his website so it's most likely going to the the same value if not even more when you sell
A unique collateral sure but it's a good one.
Altcoins are not the only collateral, and I see <5% of the loans actually use altcoins as collateral because they can just get their BTC by exchanging.
It is worthless. Collateral is something that has a value equal to or more than the value of the loan, that can be
Where can you sell such a site? There's no "market price" for it, and how much it's worth differs from person to person.