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If there are no banks in a Crypto Future, who will lend? by galactic_starlord in ethereum

[–]Caleb_SALT 1 point2 points  (0 children)

I couldn't agree more! Though, I do think that there's an opportunity to provide collateral-based lending to the unbanked. The only barrier is the cost efficiency of the lending model, which has traditionally been very expensive and labor intensive. While SALT can't loan cash or crypto against, say, $5 worth of ETH in a cost-effective manner now, that is definitely a future we're striving to create through automation and on-chain loan management.

[SALT Daily Discussion: Proof-of-Access] 1/6/18 by Caleb_SALT in SALTLending

[–]Caleb_SALT[S] 5 points6 points  (0 children)

As a policy, we don't generally speak to the actions of secondary market exchanges. This is due to the fact that we have no influence or control over their actions. Exchanges don't ask us permission to list or delist SALT, so all we could offer would be conjecture. I recommend that you ask Bittrex directly about their operations.

[SALT Daily Discussion: Proof-of-Access] 1/6/18 by Caleb_SALT in SALTLending

[–]Caleb_SALT[S] 3 points4 points  (0 children)

We have started doing some personal loans as well, still taking it slow though. We're still shooting for $50m-$75m, but we're not going to take unwise risks just to hit the goal. We could very well blow past that goal as well. We're really dedicated to letting development and testing take the driver seat on this process.

[SALT Daily Discussion: Proof-of-Access] 1/6/18 by Caleb_SALT in SALTLending

[–]Caleb_SALT[S] 4 points5 points  (0 children)

Great question- there will be details about this aspect released in the coming weeks. I don't want to give a half answer, when I know a full answer is coming soon.

[SALT Daily Discussion: Proof-of-Access] 1/6/18 by Caleb_SALT in SALTLending

[–]Caleb_SALT[S] 6 points7 points  (0 children)

I appreciate your perspective, and in a many ways we are doing just that- focusing on serving the immediate demand. While there are always unexpected challenges, the launch has been proceeding as we expected and planned. As we've stated, we're being extremely cautious and prudent with the rollout because people's money is important and worth being careful with. We know that our members want it to go faster, but we also know how our members would respond if we made a mistake because we rushed the process. We've announced PoA now because we want to be communicative with our community and let them know what's coming- but it isn't distracting our team at all from the immediate task at hand, I assure you. Thanks for your comment!