Hive loans flying around the blockchain and how Hivers are supporting each other financially
Hello Hive.
After been around the blockchain for a while I can testify that this is not just any social gathering where we make friends while engaging on their post and learning about each others lifestyle.
You will agree with me that eventually the bonds between us are getting stronger by the day.
We have learnt to trust each other so much to the extent that we can lend/borrow or gift our fellow Hivers tokens as a means of financial support when they need it the most.
I have done that in countless occasions where I have borrowed out hive tokens to someone else hoping that they will transact it to fiat and then pay me back in hive when ever they have earned enough of the token by themselves.
It is easier for me to borrow out hive expecting to receive hive in return regardless of how much the price is volatile.
If I decide to transact the hive token and lend out fiat, it will be a loss on my part to receive fiat back in the later future hoping to buy back the hive I have sold.
The price of hive might have gone higher and the number hive I have sold to give out those fiat may not be recovered.
The best thing to do is to borrow out crypto and receive exact crypto equivalent.
Hive has indeed helped alot of people an it is not just a social gathering but we have form a strong supporting bond for each other.
Posted Using LeoFinance Beta
I agree with you Monica. It is best to lend out a good crypto and demand that same crypto in return. Apples to Apples.
I think high inflation is here to stay, even in western countries. All governments have printed far too much fiat and now the poor people will suffer.
Making a loan to another person's account on the HIVE blockchain has an extra trust feature because the person who borrows the money has a reputation to uphold for his account, and the loan can be recorded in the memo of the transfer.
Exactly. Thank you for the addition and unless the said individuals pays back the loan, he is bound to return it through a memo.
Posted Using LeoFinance Beta
Good to note
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!giphy this is good
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Via Tenor
Thank you
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