inspired by this note mio connazionale 😅
Discussion
I agree with you.
We are now living in scenario 3).
As of today, a BTC-backed loan allows you to leverage your stack and the inefficiencies of the current fiat financial system. It won't probably last long. But you can use this window to stack more btc, fulfill your needs without depleting your stack, ...
Mass adoption will reduce the need for lending to very peculiar cases. Reliable payment tools will become essential then.
but the problem is that you know we are in case 3, I know we are in case 3, all know we are in case 3... So why these company would offer these kind of deal? To gift free money? Where's the catch here?
it's not a company offering money, it someone like me or you with a few thousands euros sitting in a bank account doing nothing that decides to invest them, providing a loan with 7-12% interest and secured by the best collateral.
The company (Firefish in my case) is only matching demand and offer and making it easy and safe the creation of the escrow.
ok, this sounds reasonable... still dont understand why these people with money sitting in a bank account dont just buy bitcoin, but I imagine there are different compliance-profiles and boomer-modus-operandi to count in...