I would 100% rather see my bitcoin go to someone who produced something of value for me than have a bitcoin-backed loan and pay them in fiat.
Don't give your bitcoin to banks, so they can print you IOUs. That's what got us here in the first place.
Discussion
It's still too early for me.
In time I expect them to value pristine collateral more & provide more compelling products. I also expect Bitcoin banks to emerge that understand the needs of Bitcoiners better.
Banks as storage in a Bitcoin world is counterintuitive to the NYKNYC paradigm, so really what we're talking about is just a lending facilitator - to diversify lending risk over investments they deem 'sound'.
I feel like decentralised networks and protocols can and will (and no doubt already) facilitate that type of product in a far better way than an organisation that clings to the traditional idea of 'banking'.
Yeah basically. I'm happy to pay a premium interestv rate but I don't trust them to hold my UTxOs securely & return them at the end. Multi sig with an impartial third party is acceptable.
We shall see.
I'm definitely in no rush to send my UTxOs to a bank.