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76 sats \ 1 reply \ @Scroogey 7 Dec \ parent \ on: Another Christian loan is available. $10-$150 up to 1 year. Christianity
Wouldn't an APY equal to the inflation rate (3%) already be "free"?
When APY < inflation, you pay more than you get back.
Did they give you their 2-of-3 key for the collateral, or you had to provide an address, and they signed a transaction they constructed? What amount? The full collateral? The collateral minus their 1.5% fee?
In case of liquidation the remaining value will be equal to what you're owed, but there's also the case where the borrower just vanishes, and the value of the Bitcoin rises dramatically. Would the lender get the full appreciation in that case, or the platform takes their cut?
Yeah but I am taking the loss in real terms. This is why I call it a Christian loan. Sacrifice comes in the form of debasement. My loss the borrowers gain.
I had to provide an address. I believe they sign the transaction. I forget the details but the borrower oats the loan origination fee.
If the borrower doesn’t pay it back I get the full collateral the platform doesn’t take any cut. Thus why borrowers must be prudent or they lose the bitcoin upside
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