Bitcoin is pushing most use cases and applications to second layers (e.g Lightning, sidechains) because blockchains don't scale. Most "DeFi" apps use the blockchain for transactions, filling up blocks and raising onchain transaction fees. Development is easier if you assume blockchains scale and can stay decentralized as they scale (which they can'...
It's not a scam. It doesn't allow lending Bitcoin, you are correct. When it says it supports Bitcoin, it means it allows you to use Bitcoin as collateral for a loan.
For example, if you want to borrow USDT, you'd be allowed to post an appropriate amount of BTC as your collateral, receive USDT, then when you pay back your USDT loan, you receive the BTC you ...
The essential character of money is that you transfer it (or control over it) to another person in exchange for some object or service.
There is no way to use money to purchase something and still retain the money.
None of the alternatives are acceptable to you for various reasons
Invest money in a business and defer purchase until investment ...
Why does every “defi” thing only support garbagecoins and never Bitcoin?
DeFi - Decentralized Finance
Financial applications using decentralized protocols. Such projects exist which support BTC and use Bitcoin tech. Infact they exist since years. Example: Bisq DAO and DEX, Joinmarket etc.
What's with this? Why do they support 927 different garbagecoins I'...
It seems as if, to borrow 1000 USDT or whatever, I have to first register an account (e-mail address on centralized website required in spite of claims of "true P2P trading")
Trading is P2P as HodlHodl is just providing a platform, making profits from fees and resolving disputes. You need to register with email address right now, maybe it can be ...
I want to do this. I need to do this. How exactly? Where? Who? Do they require KYC/AML BS? (Besides them knowing my bank account/name.)
Although I am not sure which service was Tyler WinkleVoss referring to. You can borrow stablecoins, L-BTC etc. on HodlHodl with bitcoin as collateral locked in multisig. No KYC is involved in the process.
Contract is ...
Is ColoBit a Ponzie scheme?
It's a scam of some sort, probably akin to a Ponzi scheme.
thought I'd be the first to sign up and get out before everyone else jumped in.
Perhaps you knew what you were getting into.
Its the return rate. So instead of just setting a return rate at lets say 0.019%, you're return rate is the market rate. It updates once an hour. It makes it easier for you so you don't have to log in all the time to adjust you're rate.
Imagine. You set a rate to the current market rate of 0.049%. Then you get a few loans but the market rate drops to 0.019%....