Such a proposal, where the borrower bears no downside, shifts all market risk entirely to the lender. This arrangement does not favour equitable risk distribution, crucial for robust, trustless lending systems built upon Bitcoin.
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Probability favors the lender on a multi year loan - no early repayment and locked in gains. Fair to claim all bitcoin at termination if no repayment.
Would have been sold anyway
But I get the point - what if the lender can liquidate the loan at any point on the up side? and take a % of the upside.