YouSaid · the spoken record

Max Keidun

lines on the record: 58
first: 2021-03-03
most recent: 2021-03-03
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“So, if you don't find the offer that suits you, just create the one that you want to accept or you want to land or you want to borrow. And with that, we can together grow the liquidity and grow that market because we actually need your support. As for the mainland.huddloddle.com available globally, feel free to check it out. Feel free to give your feedback. Feel free to post your own offers. It's free. doesn't take you much time. Finally, start to becoming your own bank.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Privacy. You have no risks of your Bitcoin being land or being given to someone else. And you actually have at the moment higher interest rates and higher APR as a lender. And it's always backed by Bitcoin held in multi-signature SCRO. You need to educate yourself. Please feel free to provide to us any feedback that you have. Our DMs are open. We're trying to do the best. We know that you want to have this feature right now, but we are rather small team and we're working really hard on that. We're growing, but we're working really hard. So we actually applaud you for your support. Personally, you Preston as well because you've been very supportive. Many people that support us. The main thing that I wanted to point out, peer-to-peer market, nobody basically blocks you for publishing your own offer on your own terms.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I want to highlight a few things like, first of all, educate yourself, do your own research, always do your own research, whether it's the risks of being custodial, using custodial or non-custodial services, whether it's the risks of issuing loans in several stable coins, like we have this question, what will happen if teaser will blow up and whether I should use better USDC, we don't provide that kind of advice, guys. It's peer-to-peer markets. It was meant to be like that. It's Bitcoin, you know, it's peer-to-peer electronic cash. It's what's written in white paper. Some people are wrongly quoting this in their own interest, but that's how it's written there. So do your own research, educate yourself. The system peer-to-peer systems, non-custodial, of course they might be a bit more complicated than a custodial ones, but there are always a trade-offs. Like you have a bigger...”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And I think the main insurance that all loans are over collateralized, they're in multisig, and you can actually, by cooperation with your, let's say, counterparty, you can actually retrieve them at some point. So this is the main insurance. It's actually not financial insurance, it's technical insurance. That's what we are striving for, to provide a technical tool so you can do all things trustlessly and you can be way more secure and sure that everything will go fine. We've kind of had some companies that have been approaching us in terms of insurance. I don't know whether we are going to observe that and we are going to figure out that. But I think the main insurance is a technical part of our platform. That's the main thing.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So, regarding the insurance, as I mentioned previously, with custodial platform, you might be insured, but you will receive only part of your deposited amount and you will most probably receive your part in fiat. So let's say, as with mom gox, the price of Bitcoin significantly increased during past years. People will still receive way more less than the MOGOGs own them. Because again, Bitcoin will stay there and you will be able cooperating with your counterparty to return this Bitcoin from the escrow. But again, I know that there are some lenders that are actually hedging their risks. They have some complicated lending strategy.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Or you cannot, whether you're a corporate or you are not, and how does this work? So if there will be lenders who will effectively say, we want to issue some loans, but we need to do KYC on people to whom we are issuing, they will go on a platform, they will post their offers and offer description that we write. We will need to do, I don't know, verification of you or we will need to do due diligence of you. And people will decide whether they want to go with institutions or with legal entities or they want to wait a bit longer and find another partner who is a private individual who can send and give a loan and then make all the necessary tax things and all that stuff.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“With peer-to-peer markets, and as we are non-custodial, we leave all the legal stuff upon counterparties. So basically, for example, on trading part, we have the market decide how it performs. We just provide a technical tools for people to make a safe trade. There are actually traders on our trading platform that do KYC. These are like OTC desks that have licenses, and they just use it as an esp agent. So basically, even not as an escrow agent, I would say as a technical tool provider. So they believe that our escrow technology is pretty safe. They're using us, but they're doing all the legal stuff, taxation and all that stuff by themselves. Same with peer-to-peer, same with lending. It's up to you to understand what are implications, what are regulation, what are barriers for you in your own jurisdictions, whether you can issue a loan.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Are willing to borrow money at bigger rates than their custodials? So basically 16% average APR. And the liquidity is actually like when we see a huge liquidity provider coming to the platform, like let's say huge liquidity provider, half million. His half million will be eaten in three, four days with easily taken by multiple parties and allocated through multiple multi-signature accounts. We're working actually at the moment on partnering with some liquidity pools and liquidity providers who can actually affload liquidity in stablecoins to the retail market. and building the Bitcoin lending stuff.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The current priority number one, and we actually received an anonymous letter from one guy who wrote us like, I think two weeks ago, there was a letter from one of, I don't know whether his user or he's just like, check it out. First of all, he mentioned that this is the simplest, most complicated platform I saw because he smiled and I didn't solve that kind of simplicity which is wrapped around the complicated things for a long time. That was his comment. And then another thing he mentioned that I think that you guys built something that could be potentially Amazon in 90s. So this could disrupt massively the lending markets in the future. But he mentioned one thing that we are actually aware of and we're working on that. It's not a technical side, it's actually liquidity. As I mentioned to you, we have outstanding amount of borrowers that”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Different types of networks, and we're trying to figure out the ways that you can actually still hold keys to collateral. Let's name it like that and still earn interest on top of Bitcoin. So we're actually going to present a few of the simpler ways and solutions in upcoming weeks, let's say in March. And we're going to build more complicated solutions, like in six to nine months from now. And hopefully you will be able to collect interest on top of Bitcoin as well.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Difference is pretty easy, you know. When you deposit why you can collect interest on your Bitcoin, on custodial platforms, because you deposit with them and they just lend this Bitcoin to institutions or to other players. And these players are using complicated trading strategies or lending strategies. They're earning actually more on top of your Bitcoin. And then they're just paying you part because they're using your asset in their own strategies, different types of strategies. Now with non-custodial, your Bitcoin stays in multi-signature escrow and effectively we cannot do that anything. We cannot send this Bitcoin to trading OTC desks that can perform. So it's a bit more complicated. So with Lightning, for example, with Lightning Pool, you can already provide the liquidity, you can be non-custodial and you can earn some interest. But we are actually working on different types of solution.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We are talking about Bitcoin lending. As I mentioned across this year, we're going to release some features that will allow you to do that. It's really hard to perform. We're looking into different protocols, not only on-chain Bitcoin, but also, as I mentioned, Lightning and Liquid.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Institutions are bigger, yes, but the recent beef with Wall Street bad guys GameStop saw that actually if you have a huge movement, you can destroy effectively any institutional interest that is out”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Very smart people. I saw trend that they're amazing young developers that are actually shifting the industry. There's this guy, Ben Kaufman, who is doing the Spectre wallet. He's 19 years old. The guy reinvented multi-signature wallets as it is. So he's like 19 years old guy, if I'm not mistaken. So the industry will evolve. The Bitcoin will be here. Just take it or leave it. You can close your eyes and then think that it will disappear, but it will not. So effectively, I think I listened to your podcast with Zach from Blog Fe and there's a right direction of how he thinks that custodial solution will be more towards institutional interest and non-custodial solution will be more towards retail interest. And we don't know which interest will be effectively bigger. We believe that at the moment”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The funny joke about coffee buying Bitcoin with a coffee, you know, you will be able to do that with lightning. And as soon as there will be many different types of payment solutions, payment cards that are supported by Lightning, we will see that this thing will involve. But everything will eventually evolve around Bitcoin. And I'm just hoping we will be able to absorb the best practices from other blockchains. We will be able to build languages and solutions that will compete with those that exist at the moment. And eventually we will beat that. Because I believe that the Bitcoin protocol have the best people. I'm not trying to say bad things about other products. There's also smart people out there. But I think the good thing about Bitcoin is that we have the biggest liquidity pool at the moment. So basically in terms of capitalization and Bitcoin also attracts a lot of very”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Even though they're not. That's actually one of the things that I'm looking forward. We're constantly improving the user interface and we're actually considering to building at some point we might start building some high frequency decentralized exchange as well. So that could be something. We're looking into that. We've been approached by several protocol developers. They know us. They want to work with us. They know that we can”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Happy to trust to third party, and they just used to that. What I think that amount of that type of people will be lower and lower in the future because people will eventually educate and people will eventually sell some shifting from being custodial to non-custodial.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Trading in lending. So, in terms of trading, I think custodial exchanges still will be bigger than non-custodial. Why? Because they have a huge liquidity pools and there's a frequency of trading. You can faster complete your orders on custodial trading. And that's what's important for day-to-day traders, for example. I do believe that decentralized trading or non-custodial trading will rise and there will be some technologies that will actually effectively make it happen better. Like for example, there's a technology which is called RGB, which is built on top of Lightning, which is actual layer three already, which will effectively allows you to construct different types of decentralized applications. I think that there will be more and more peer-to-peer, more and more decentralized solutions, but they will just coexist with the custodial solution and centralized solution, because there's always two types of people. Those people who are”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Definitely it's naive, I don't know, vision, but I truly believe that in lending, if we're talking about lending, let's talk first about lending and then we can go on more like broader use cases. So in lending, I think that there is a significant chance that peer-to-peer lending will hit a huge chunk of custodial lending that we have now. So non-custodial lending can potentially disrupt the custodial lending. It won't be necessary bigger than custodial lending because you still have like institutional big players. They have a huge liquidity pool. But again, as I mentioned, there are some institutional big players that are already approaching us and they're also considering to uploading their liquidity because they see the rates are higher and they're happy to provide some liquidity to retail markets. I don't think that in terms of trading, for example, I usually compare”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Protocol levels like liquid and lightning. So what we want to build, we're also looking to the lightning pool technology. We were pretty excited about that. I think this is the way to go, but I'm also hoping that we will be able to release other types of solutions. So the person who is less sophisticated may go to Huddle Huddle and choose what he wants to do with his Bitcoin, whether he wants it landed in one way, in another or in a third way. Some of these solutions are still pretty long way to go because we are waiting for other protocol level improvements in order to be able to build them. Some of these solutions will be already presented in a few weeks from now. But I'm excited about Lighty. I saw many comments people are saying, hey, the rates will be crazy on a Bitcoin landing non-custodial. No, guys, I think the rates will be low.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Most probably you will receive less interest than you will do it with depositing your Bitcoin and giving away to third party. I would say that even with two, three, four percent annual rates on your Bitcoin, but still being able to keep it non-custodially, this will be a perfect offer because you will still earn some interest, you will keep your Bitcoin, and you will actually support the Lightning Network as well. What we are looking at is that we're going to introduce during this year multiple solution how you can lend your Bitcoin using our tech. Some of these solutions will be actually pretty stupid in terms of technical development, let's say like that, but they're a bit more wiser in terms of cash flow management. So some of these solutions will be actually effectively using other”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So, the main difference is that we don't offer Bitcoin lending. So you can only borrow against using Bitcoins, basically use it as a collateral. Now, the lightning pool technology which you are talking about is actually the first technology since Lightning was introduced that I'm actually pretty excited about. And we are speaking with Lightning team, we actually and some work groups around Lightning. So I'm pretty excited about that. I'm not sure what will be the rates there and what are the rates there because I'm leaning more forward than that non-custodial Bitcoin lending will earn you less than custodial Bitcoin lending. Why? Because there's less security risks. So there's a trade-off. You want to hold your keys. You want your Bitcoin to be non-custodial. If you want to stay partially in charge of what is happening with your Bitcoin,”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Borrowing non-custodial, you will have a full control over your funds. It means that you will have some leverage to avoid being fully controlled by other parties. That's what it means. And also in lending, the important thing, it means no rehabilitation risks. So basically your Bitcoin there stays in collateral. They're not giving away to some guys who are trading.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Had a comment actually yesterday, also I checked the post that you mentioned that you are talking with us today, and there was one guy who told, hey, I was recently on a conversation in Clubhouse with one of representatives of custodial landing platform. And he effectively said that non-custodial multi-signature tech is basically worthless because you still don't have access to funds. You still need to have a second key. Here's the actually pretty simple answer. Non-custodial doesn't mean that you have a full access over your funds, especially if you're engaging with other counterparty, because the counterparty actually have their own interest. Non-custodial effectively means that you are removing full control of the funds from the third party or from another person over your funds. So this is what it means. Doesn't mean that trading, lending,”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And in fact, the transaction cannot be broadcast until it's fully signed. So step four assumes that you already have a partial assigned transaction. The fourth step is actually the most complicated because you need to construct some kind of code and you actually need to have a technical thing. Now, we thought about it as well, and we received some requests. So in upcoming months, we're about to release, let's call it, emergency doomsday software, which is effectively allows you to retrieve coins from escrow even if we're down at some point. So the only thing you will need to do then, you basically go through our security guy, you write down your encrypted password, and you just contact your counterparty, and there will be a software that will help you to release these coins from the NASCRO.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Own bank is easy. It's pretty hard to be honest. An encrypted version of the private key is being sent to the server. You actually can copy that encrypted key and using the same algorithm which OHODO uses decrypt the key using your payment password. You need to remember that your counterparty actually needs to do the same. So what we suggest if you're overparanoid and you want to be safe and sure when you engage in contract just exchange contact details like emails. So in case the platform goes down, obviously the lender wants to receive his repayment and obviously the borrower wants to receive his Bitcoin back from the collateral. Now the fourth step you will then need to write some code that would actually construct a release transaction and use that key to sign it and then broadcast the signed transaction. And as I mentioned, however your counterparty needs to reproduce the same steps.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Points, because that's how it works. So in this case, you will be able to retrieve Bitcoin. Now, the steps that you actually need to do if, for example, there's a doomsday and we're down and there's still funds in Scrow. So first one, you need to open the browser console. You do it by pressing F12 and watch the data being sent to the server when you create your payment password. The payment password again is your key. Now after you enter your payment password, you will see that amongst other things, and this is pretty important encrypted version, hodo hodo doesn't know your payment password. And if you will lose that, and I'm trying to be like to warn people, if you lose a payment password, don't think that we're acting as a custodial platform who can just, hey, here's your payment password, do that. We don't know that. That's also the part of being non-custodial and being your own bank. Nobody told you that being your”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So, first of all, you need to understand one crucial thing. We only have one key. So even if we will go down, you still effectively both lender and borrower have their own keys. And they have two keys in some, which effectively can release funds. That's the first thing you need to understand. The second thing you need to understand, comparing to custodial platforms, you can impact that process. If custodial platform goes down like, for example, MtGOX, you cannot do anything. So basically you just need to wait for them to resolve this issue. And obviously you need to wait. Now there are people who are waiting years and years that the issue will be resolved. And also the thing that actually you were on the podcast with Peter McCormick, an American hodel, and he mentioned that if the custodial landing platform will go down and they even if they are insured, most probably you will receive back part of your funds, but you will receive it in fiat. You won't receive your Bitcoin.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I would say it's even simpler. We are trying to decrease that risk as well because I saw that you have some comments and one of the major comments is actually what we should do in case if hodo hodl is down, how do we retrieve the escrow? So we already published the guidance for that. So there's like four steps. I can just guide you through this.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You're good to go. So we're working on that, and I know that people are asking, we need to simplify, we need to simplify, we need to simplify. It's good, but to be honest, you guys need to check your custodial vendors and go through onboarding process with custodial lenders, and then you will be back and you will understand how simple we already built the system because there's a difference. Of course, we cannot, or it will be hard for us to automate like some things because it's still peer-to-peer market. It requires your own education and some manual work. But it also increases your security level, your privacy level will basically”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Effective, it means that we will become a lending platform or the core of the lending Bitcoin lending, peer-to-peer Bitcoin lending, which we're aiming for. We're also making some more streamlining automation process, more effort towards the education. We're going to publish actually in a few days from now very simple through guide through how to publish your own offer, how to make a contract, how to make an offer, how to, again, how to do whatever. So it's going to be simple. We're going to simplify our UX UI. We're going to add more automated feature like matchmaking, for example. When you publish your offer and we know that there's on the other side of the list, there is an offer which matched your criteria. So then you don't need to browse the offer list. It will just effectively send you the request, hey, here's another offer. It matches your offer, like, let's say 95%. Just click accept and you.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Already announced that public roadmap that we're going, first of all, we're going to build API for a landing platform. It's actually already in the process. So hopefully by in two months from now, we will be able to release the API, which will effectively allow you to automate many things on your own end. So institutional players, they will be able to switch to our, like basically to connect with our API and automate a lot of things that are currently they are enabled to automate. Also the retail guys who are like more sophisticated in building terminals or building several types of software, they will be able to do that. Also, I think the API for Hodo Hodo landing will effectively make us one of the few Bitcoin-based lending platforms that actually have an API. So you will be able to build your solutions on top of all the lending markets.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We agree with that because we'll effectively mean that there's a fiat on top of crypto technology. So as you mentioned, there will be a clear ledger that will allow you to understand that actually the payment was made or repayment was made. And again, I'm not advocating for central bank digital currency. Don't get me wrong here because I still believe that building some new fancy stuff on top of broken system is just doesn't work.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Skeptical about stablecoins that are undervaluing this use case because there will be more and more stable coin-based payment cards and at some point there will be no difference between topping up your payment card with stablecoin or with fiat. Actually, it will be way more easier with doing this with stablecoin because it's faster, it's peer-to-peer. You can prove that you actually send this. And I think there's already I saw that there's already some major companies, whether it was Visa or Mastercard, they already signed with Paxos, which is a stablecoin that SO will support it on our platform. They already signed the agreement that they are going to go that way.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We actually saw the interesting cases that three days ago they were published, a borrower, he published his offer, which was stated in description that I want to borrow money for my wedding. So the guy was obviously borrowing money for his wedding. But most of the cases, of course, as with most of DeFi platforms, people are just leveraging their position into Bitcoin or other altcoins. But there are also cases where people just, they don't want to sell Bitcoin and they just want to have some funds to, I don't know, to convert the stable coins to fiat and then move to their accounts or they're actually already multiple options with payment cards where you can top up the payment cards with stablecoin and you can just use it as any other payment cards. And I think that's one of the use cases that many people who are Bitskin”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And again, the good thing about the lender that lender doesn't pay any fees. We consider that lenders are liquidity providers and the only person who pays for basically origination fee or any type of fee are borrowers. So because they need money. So you need money, you will pay. And I'm providing money, so I don't need to pay. I'm just giving you my liquidity”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Then might apply. Good thing for lenders is that all loans that are issued through the hodel hodel lending platform are over collateralized. And also the good thing that in case of liquidation, you will not only receive the body of the loan, so basically the amount that you've transferred, but also you will receive the full interest that borrower actually owns you.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So, I can send three four thousand and system will automatically recalculate LTV ratio and I will be good to go. So we actually experienced that already when there was some loans with higher LTB ratio, 70%, and some of clients was actually pretty close to liquidation rates. So they just, some of them just added more to collateral and some of them that just did early repayment or partial repayment.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That's basically how it works. The interesting part is actually that you can avoid being liquidated. And we have, I think on the market, we have one of the few companies that actually platforms, let's say, that actually have different types of options how you avoid, how you can avoid that liquidation. So first one, which is obvious, adding more collateral to the escrow. So you can just effectively send more Bitcoin to the escrow and your LTV ratio will go lower. Now the second part is you can do an early repayment, which is another obvious thing. So you can, if you see that you will be soon liquidated and you want to avoid that, you want to have your precious Bitcoin back in your pocket or in your wallet, you can do the earlier payment. Or you can also balance in that sense that you can make partial repayment. Let's say you don't have, I don't have $10,000 that I owe you. I have $3,400.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It's true. It's true. And we have all the calculators. Basically, you see in your contract, you as a lender also can be prepared for that. You can see that as well, how the loan-to-value ratio changes. And we actually are going to add some interesting features that we're also going to inform with notification, the lender prior to the actual liquidations. So he can be prepared for that. If you want to, if you're hedging your risk, you obviously want to perform some actions. Yeah, because you need to sign the release transaction from this multisigas pro. As I mentioned during the previous conversation with you, we're working on adding more automation to this feature. So the liquidation can be done fully automatically. We're going to improve this process in, let's say, two, three months. So yeah, because like”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We have the four types of alerts, margin caller alerts. One is 75% of LTV, another one is 80% of LTV, another one 85% of LTV, and 90% is a final force liquidation alert. Now, you have basically time to react until the ratio reaches 90% of LTV. After the LTV ratio reaches 90%, the contract will be automatically into force liquidation stage, and the collateral will be automatically liquidated.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It doesn't work like that. It's a bit different math. You can actually check it out in our frequent questions. There's a pretty simple guy”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We sent four different types of notifications to borrower because he's the man in charge in that case who needs to understand what he will do. Effectively to avoid the liquidation what he can do, he need to balance his LTV ratio because as soon as LTV ratio will go to 90%, he will be effectively liquidated. What he can do in order to prevent this liquidation?”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That the contract is in progress stage, and we are good to go. And in six months, I repay you the amount that you've landed to me with the interest. I can also repay earlier. I can also do part-tail repayments or in case if I don't have stable points anymore, let's say I spend them all and I don't have them, but Bitcoin price increased significantly, I can cover your loan with bitcoins from escrow. This is how it works.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, because let's say URL TV ratio is 50% loan to value ratio is 50%. You can also set up 70% loan-to-value ratio. So I will effectively need to deposit less than 20%. So it's up to you and up to me to decide which ultimate ratio is fine. So I sent Bitcoin to that escrow. As soon as it gets three confirmations, we inform everyone, basically the contract is moving to another station. We inform everyone, hey guys, Bitcoins are an escrow. It's safe to proceed with a loan payment. And you send 10,000, let's say USDC, as you mentioned, to my stablepoint address. I received that. I confirmed that I received that actually. There's always double checking, you know, when you send, you attach the transaction link and you confirm that you've made a payment. I, on the other hand, need to confirm that I received these funds. And only after we do...”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“To this escrow account needed amount of money. Let's say the LTB ratio is 50%. So I'm sending and I'm saying roughly 20,000 worth of Bitcoin. With the current price, let's say 0.4 Bitcoin I'm sending to this ESPO.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Well, obviously, I found your offer. It's kind of good for me. So I'm happy to pay you 16% APR. I confirm that I'm interested. Then automatically the contract is created. Upon the creation of a contract, you have this key, which is called payment password. So basically you encrypt your key with the payment password. So payment password effectively is an encrypted key to the Zescro. So we both enter this key and then system understands that we're serious about that and it creates a unique multi-signature escrow account or address on a public Bitcoin blockchain. And you can actually go and double check this address on any block explorer there is. You can double check that it's fresh. There's zero account on that zero fonts on that. Then effectively I as a borrower send”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We don't care because it's like basically code is a rule. Of course we have some rules to reach the consensus. Obviously, as I mentioned previously, we're not naive that there will be no disputes. As the volume rises, as the people appetites rises, as there are more and more people stepping in, of course there will be disputes. Not all of them will be unnecessary people are, there's one bad person, a good person. There must be a misunderstanding at some point might be. So it's okay. We're used to that. We have a system in place. We're trying to solve that. That's how it goes.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Basically, the average. So there are short-term loans, obviously with fire API. So there are some short-term loans, like let's say one month. And API, I saw them. These are loans that actually in progress. They have API around 40% or even 50%. People are taking this money in order to maybe leverage their position in Bitcoin, maybe leverage their position in other crypto. We're not asking what they do with this and we actually don't want to know.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The average value is 10,000. And actually with Bitcoin price rises, the appetites also rising. So people are, for example, we have now outstanding demand for, we have a borrower pool who are willing to borrow 1 million effectively. So they're available. And the API is actually around 16%. So it's 1 million per year and it's fixed 16% with the average LTV around 50-60%. So that's the numbers we're talking now.”
2021-03-03 · We Study Billionaires · BTC015: Bitcoin Peer to Peer Decentralized Lending w/ Max Keidun from Hodl Hodl (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT