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Comments like this make me wonder how misunderstood a lot of the crypto space is and how little many know about it. It's very normal in finance to call financi
by kerng 5y ago
Comments like this make me wonder how misunderstood a lot of the crypto space is and how little many know about it.
It's very normal in finance to call financial offerings, lending, loans, etc. products.
Some DeFi products offer nice rewards even - like somewhere around 12% pa for more risky, but about 6% pa for low risk products.
We are far from close to mainstream usage and early adopters probably will benefit the most.
- BrissyCoder 5y agoWhat's to understand? I can get a loan on crypto but I have to put the same amount of crypto as collateral. What is the point of this? If I go to a bank I can get a loan for a car and use the car I'm purchasing itself as collateral.
- kerng 5y agoThat is one product. The benefit is related to growth and related taxation (but might depend on the country you are in).
- BrissyCoder 5y ago> The benefit is related to growth Right... so pure speculation then with no underlying utility.
- deleted 5y ago[deleted]