New Loan Rules
I'm finding it necessary to add some more restrictions to the types of loans I make, to reduce my risk and make my life more simple. This will apply to new loans going forward, but not to existing loans.
I'm no longer making loans in terms of USD or any other government fiat currency.
The loans will be in terms of the crypto-currencies that I deal in.
Example: I loan you 1 Eth, and get 1.1 Eth back in 3 months.
The currencies I typically want to deal with are BTC, ETH, Hive and HBD.
Here is a list:
BTC, ETH, XRP, LTC, DASH, BCH, XLM, HIVE, HBD
Splinterlands currencies: DEC, SPS
Hive Engine Currencies: LEO, PAL, NEOXAG
And no I'm not loaning out Tether, or most other Stable coins. HBD is the only exception.
I must receive back the same type of currency that I lent you.
If I lent you BTC, then I want BTC back. If I lend you Hive, then I want Hive back. If I lend you HBD, then HBD is what I want to get back.
Generally speaking I don't want to deal with Wrapped Bitcoin or Wrapped Eth or other wrapped coins, I want the real coin. I can make an exception for Swap.Hive and Hive.
I suspect that many people who come to me for loans, are not really wanting to borrow money, but more to trade currencies. They want me to pay them some prime currency, like BTC or Eth, and then dump on to me a bunch of DEC or Hive, basically using me to cash out, and that's never what I intended to do.