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Are you telling me I can get a loan - say for a car - using DeFi right now?
by BrissyCoder 5y ago
Are you telling me I can get a loan - say for a car - using DeFi right now?
- sprafa 5y agonot for anything specific, but you can get a loan of X amount of money for Y amount of collateral, yes. You can do this using cryptocurrency that's being loaned out to you under the protocols of a decentralised application. No centralised control, everything is automatic, and there are no central servers - you can do all this just by running code as smart contracts on a blockchain.
- BrissyCoder 5y agoMan... you have to be taking the p%$s for sure!? And you mean "I can get a loan of X amount of money for X amount of collateral, yes." What use is that to me!? Total horsesh*%t. This whole thing is the biggest financial joke of our generation.