NOT OFFICIALLY OPEN! This is just simply an announcement post of what will take place shortly. Feedback wanted!
I’m creating SteemLoans.
Essentially, the Liquid Steem procured from this post can be loaned out to people who post requesting a Steem loan format request below. Keep in mind, the first time around we won’t be able to match everyone’s loan request, but for every person who upvotes they are contributing to a network of potential lending/lenders.
What is the end game?
We live in the time of the most monetarily transparent system in the world: the blockchain. Tie that in with the first community driven attention economy design blockchain in SteemIt and we think we have can create an economy that is fair and sustainble. Ideally, we’d love to be able to pay the lendee’s listed (in the vote chain) some interest back, but Liquid Steem doesn’t have any interest to it . Maybe, down the line Steem Dollars can be the solution.
How do I ask for a Liquid Steem Loan?
Simply post in this format in a comment thread below. SteemLoans will respond accordingly to that request.
- Rep. Score: i.e 70
- Loan Amount: xxx
- Repayment Amount: xxx
- Reason for Loan: I need to purchase a new computer asap!
So if you have any feedback, or thoughts below in the comment section. We are planning to open officially on Friday, December 9th.
Are steem loans available yet? I am looking to take out $200 USD worth of steem against my steem power for an investment. message me on steemit.chat @ coloured_stars or reply to this comment. Thanks.
Good initiative!
Could use a loan for sure, great initiative.
Ill lend u 1 4 hours .
ill loan 0.03 thats lall 4hours'
Very curious to see how this plays out. Repayment terms/frequency if any and amount of default so to speak.
i need about 350
Great idea sounds like it might be somewhat of a challenge but would also require some degree of trust. I hope this can work.
Trust will be big no doubt. But, with SteemIt rep. there should be a way to medigate it.
interesting idea.
good luck.
I love the idea. Hell, I could use a loan. But I highly recommend reading @kevinwong's The Honesty Post. He touches on accountability, trust, having a contract.
Repayment amount should not be determined by the lendee. I would implement interest. You borrow 100, you pay back 110. I'm not suggesting 10% but I am suggesting something.
I would also recommend payback options: % Steem per post or a specific time frame. And people need to know what the consequences are to defaulting because taking the money and running is not fair to the the other lendees or the investors.
I couldn't agree more. Thank you for this helpful feedback. I'm going to write-up a more through approach to this concept for sure. Thanks for the article on @kevinwong's The Honesty Post. Very helpful. I'm hoping a whale would eventually help out also giving creditability to the loans also.
I think this is a fantastical idea! I am really excited to see how this all plays out. :-)