0 sats \ 0 replies \ @DiracDelta 5 Jan 2023 \ on: Faucet21 - Get an unsecured personal loan that automatically converts into BTC bitcoin
I was working on this (cool to see it pop up here!), but at this point, it will not be going forward without external funding, which I do not anticipate being able to raise.
There are three models under which it would operate:
  1. Ordinary unsecured loan: you get the bitcoin up-front. Marketing + seamlessness in turning the fiat loan into bitcoin. Marketing alone might not seem like much here, but this could become a default way for people to get into bitcoin and help with unit bias.
  2. We hold the bitcoin: you buy fixed chunks of it at a fixed price over time.
  3. Twice-locked bitcoin: you buy fixed chunks at fixed price over time, but you hold 1 of 2 keys in a 2-of-2 multi-sig so it is impossible for us to rehypothecate.
Preliminary discussions with prospective bank partners indicated it could be done, but we did not get to the details of how we could adjust interest rates based on the different options above.
The other associated businesses I was trying to get going are:
https://runcaliber.com (brokerage) https://twitter.com/runcaliber
https://contracts.runcaliber.com partial non-dollar denomination in (salary) contracts
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