lot of components did not load on initial landing of the page on FireFox Nightly 62.0a1
Thank you for pointing this out -- I've flagged our team and we're looking into it.
Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
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Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#12`dharma` is the term we buddhists use to designate the (sacred) teachings of Buddha. Would you use `Coran` or `Bible` to name your project? Probably not.
It would have been a good idea to take more time to reflect on your choice of name.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#13I didnt see this mentioned on the website, but what about the legality of this ? Is this legal in the US ? Or where is it legal , illegal to use ?
Yes -- two parties are permitted to lend money to one another in a mutually agreed environment. It's important to note, though, that developers who build end-user applications on top of Dharma ought to be cognizant of lending regulations / securities law in the jurisdictions they are active in. However, we've opted to build Dharma in a non-jurisdictionally-biased manner -- we think that jurisdiction-specific regulatory restrictions are better implemented at the application layer rather than the protocol piping.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#14When one lends cryptocurrency I assume the loan comes with an interest? Given the fixed supply of bitcoins or what have you, where will the coins to pay the interest come from? Or does it work differently in cryptocurrency world? Genuinely curious.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#15`dharma` is the term we buddhists use to designate the (sacred) teachings of Buddha. Would you use `Coran` or `Bible` to name your project? Probably not. It would have been a good idea to take more time to reflect on your choice of name.
There are a ton of products named “The X Bible” where X = photoshop, c++, whisky...
I don’t think it’s particularly controversial but then again I’m not a Christian.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#16`dharma` is the term we buddhists use to designate the (sacred) teachings of Buddha. Would you use `Coran` or `Bible` to name your project? Probably not. It would have been a good idea to take more time to reflect on your choice of name.
I'm also a Buddhist (a savaka, technically). I have no issues with the name. If the name causes one person to learn what the Dharma is and to stop harming themselves and others, that's a great thing.
It looks like a cool project too.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#17When one lends cryptocurrency I assume the loan comes with an interest? Given the fixed supply of bitcoins or what have you, where will the coins to pay the interest come from? Or does it work differently in cryptocurrency world? Genuinely curious.
I'm not the op, but fractional reserve lending isn't the only form of lending, and fixed supply isn't the only form of cryptocurrency.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#18I didnt see this mentioned on the website, but what about the legality of this ? Is this legal in the US ? Or where is it legal , illegal to use ?
Yes -- two parties are permitted to lend money to one another in a mutually agreed environment. It's important to note, though, that developers who build end-user applications on top of Dharma ought to be cognizant of lending regulations / securities law in the jurisdictions they are active in. However, we've opted to build Dharma in a non-jurisdictionally-biased manner -- we think that jurisdiction-specific regulato…
That this choice happens to reduce the technical and regulatory complexity of your product is I'm sure just a happy co-incidence :)
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#19When one lends cryptocurrency I assume the loan comes with an interest? Given the fixed supply of bitcoins or what have you, where will the coins to pay the interest come from? Or does it work differently in cryptocurrency world? Genuinely curious.
I'm not the op, but fractional reserve lending isn't the only form of lending, and fixed supply isn't the only form of cryptocurrency.
Beat me to the reply :)
Indeed, even with a fixed supply token, a borrower would simply have to come across the necessary amount of principal + interest in the loan term.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#20With any new lending platform I have to ask: What happens if I borrow assets, spend them, and never pay back the lender?