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Lending Application
#11
It does seem like a good idea but a lot of trust is needed just now.
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#12
(2018-10-04, 03:43 PM)BobBobert Wrote: It does seem like a good idea but a lot of trust is needed just now.

Maybe. If the code for the smartcontracts let's you pull back your money at anytime then you don't need trust. That's the whole idea with blockchain. One has to read the code and say YES or NO.
Cardano is the most promising 3 gen. crypto right now.


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#13
I would have thought that it could not be easily coded.

Any bank only keeps "enough" money in the system - if everyone wanted their cash out at the same time then banks would not be able to do so.
If loads of us swapped our RBT for BTC and then all those who put in BTC originally wanted their coins back then there is a problem that is not solvable instantly.
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#14
(2018-10-05, 12:39 PM)BobBobert Wrote: I would have thought that it could not be easily coded.

Any bank only keeps "enough" money in the system - if everyone wanted their cash out at the same time then banks would not be able to do so.
If loads of us swapped our RBT for BTC and then all those who put in BTC originally wanted their coins back then there is a problem that is not solvable instantly.

I think it's possible to do the coding. If you borrow money in one coin you need to provide the same amount in another coin as I read it. 

Regarding the banks. It's true. They are NOT able to give us our money if all wanted to withdraw.
Cardano is the most promising 3 gen. crypto right now.


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#15
Following this conversation... Smile
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#16
(2018-10-08, 02:17 PM)Cell Wrote: Following this conversation... Smile

#metoo  Smile
Cardano is the most promising 3 gen. crypto right now.


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