Is there any simple explanation of what exactly it is?
I tried to understand it by reading various places on site but too heavy words used like credit liquidity, tokenized debt.
When you are targeting normal people can you explain how exactly this works?
Is it like I give bitcoin/ethereum and you give me fiat money and when I repay fiat money you give my bitcoin/ethereum back?
Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
151–160 of 167 posts
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#152Earlier quoted context omitted.
I'm not a crypto-apologist, but this use case I can see (sorry if it's a little rambling). Each property/car could essentially be represented by its own smart contract, initially held by the mortgage lender. When you pay an instalment of your mortgage, it executes the contract to "release" the equity to you. When it comes to selling, to change the name on the contract, the buyer would pay based on the split between t…
That's all well and good until someone steals my private keys and and now I'm out a house.
"You wouldn't download a house" memes aside, like a lot of the move from analogue to digital, there was always a chance someone could have socially engineered you out of the deeds to a house, the technology just opens up the attack potential exponentially.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#153Earlier quoted context omitted.
The fundamental ideas of Sikhism , Jainism and Buddism are not equivalent and Dharma in in each of these religions means aderence to their idea of the righteous way.These ideas are distinct and practitioner of these religions would dissmiss your theory of unified dharma. There are several Sikh scholars that I know of who could help you with your understanding of Sikhism and how it is different from Hinduism. However,…
I never said that each were equivalent, I'm saying that they're using the same vocabulary to describe and translate their ideas. That's it. That is to say there is no universal, central, or dogmatic theory of "dharma", nor perhaps a central agreed upon theory of Dharma, just a vague conception of what it is for each individual interpreter. Whether that interpreter be Buddha, Nanak, Shankaracarya, or the various other…
>> What unifies them simply is the technical language used to describe their philosophy, and define their own ideas
Nearly all religions use the same technical language to spread their ideas. Islam, Hinduism,Sikhism, Christianity -- all of them -- talk about God, meaning of life , yada yada yada. Does that make them closer and their philosophical differences trivial?
You had begun your argument by saying that the idea of Hinduism doesn't exist . Now you are claiming all religions are closer than they are separate. You are changing the subject.
Though I would agree that most adherents of any religion would not like their language to be used for selling Crypto hokum. If these guys had called themselves "Gospel protocol", almost everyone would see through them.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#154Earlier quoted context omitted.
Why would there ever be a cryptographic token representing my house or car? It just doesn't make any sense. The map is not the territory.
I'm not a crypto-apologist, but this use case I can see (sorry if it's a little rambling). Each property/car could essentially be represented by its own smart contract, initially held by the mortgage lender. When you pay an instalment of your mortgage, it executes the contract to "release" the equity to you. When it comes to selling, to change the name on the contract, the buyer would pay based on the split between t…
What's the point? This doesn't gain anything over existing legal contracts.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#155What does this have to do with helping all sentient beings to awaken in this lifetime?
Consider a name change.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#156Earlier quoted context omitted.
I'm not a crypto-apologist, but this use case I can see (sorry if it's a little rambling). Each property/car could essentially be represented by its own smart contract, initially held by the mortgage lender. When you pay an instalment of your mortgage, it executes the contract to "release" the equity to you. When it comes to selling, to change the name on the contract, the buyer would pay based on the split between t…
What's the point? This doesn't gain anything over existing legal contracts.
> What's the point?
>> I'm not a crypto-apologist
> This doesn't gain anything over existing legal contracts.
>> I think this interface might actually be clearer for some people who are financially uneducated, as it expresses their ownership percentage, debt obligations, and potential secured borrowing options in one go. Whilst a lot of it could be done without the crypto side of things if everything happens with the same bank/group of people, with buying and selling assets, you're working on trust with a bunch of different organisations and people, the ledger aspect could help with this.
I'm not arguing for it, merely point out the potential use case people would push for, and if it were to be pushed, I outlined why I think it could beat out existing legal contracts.
Would appreciate a rebuttal to my points.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#157Earlier quoted context omitted.
I never said that each were equivalent, I'm saying that they're using the same vocabulary to describe and translate their ideas. That's it. That is to say there is no universal, central, or dogmatic theory of "dharma", nor perhaps a central agreed upon theory of Dharma, just a vague conception of what it is for each individual interpreter. Whether that interpreter be Buddha, Nanak, Shankaracarya, or the various other…
>> What unifies them simply is the technical language used to describe their philosophy, and define their own ideas Nearly all religions use the same technical language to spread their ideas. Islam, Hinduism,Sikhism, Christianity -- all of them -- talk about God, meaning of life , yada yada yada. Does that make them closer and their philosophical differences trivial? You had begun your argument by saying that the ide…
Here how about this. What do you think of the term "dharma" being used in the context of the corporate form/guilds in India? It is a well documented fact that Srenis would have to declare their Dharma by which they, and their members, had to abide by, and was sanctioned by the Monarch. This was simply called Sreni-Dharma.
Furthermore that's a false equivalence as they do not use the same vocabulary. I challenge you to find any of the Sanskrit based word in any other religions around the world other than the ones found in India, and no translations do not count. That is to say Indic religions have their own jargon.
So no. Not ALL religions are closer to each other. Just the ones in India. There's NOT a single unifying factor that united Indian religions. So yah. There's a great difference between Vaishnavs, Shaivites, Mimamska, Nyaya-kins, Shaivites in Kashmir, Tantrics of Himalayas, Lingayats, Arya-samaj, Bhakti, ISKON, etc. There's, I believe, literal thousands of philosophically nuanced schools of thought that are incredibly different from each other. So again, please tell me where Hindus are the same. Again the ONLY thing, remember, ONLY, is the vocabulary, ideas, etc. that these philosophically distinct ideas share. That's it.
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#158Congrats on getting to this point! Been following Dharma closely for a little while now as we (Kiva) have an interest in trying to increase financial inclusion and decrease lending costs for the world's poor and have been hoping Dharma may end up being one piece to the future of our work. Could you possibly speak to how you intend to enable KYC (Know Your Customer) / AML (Anti-Money Laundering) to work with Dharma? T…
I am an engineer at a Coinbase competitor company and I have been thinking about this problem (massive amounts of crypto assets lying dormant) and possible leverage (global access to a universal debt market) and I have been researching Kiva since it seems to be the early player in this space. My 2c - Yes KYC and AML is important but it doesn't make sense relying on national identity documentation and storing everyone…
Yes, I whole-heartedly agree, the user should own their PII and who has access to it, but the KYC and AML checks still have to happen. Having a provider do it is also great, but Civic (as one of your examples) has explicitly stated they can't do it in international low-income contexts, and they are unlikely to ever be able to in a way that makes financial sense.
That's why folks in this space need to be thinking about how to solve this problem. There's not a clear, easy answer (or if there is it has not been communicated out enough otherwise everyone would be using it).
Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#159Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets
#160Earlier quoted context omitted.
> It’s like an insurance company calling itself “Gospel” Is that offensive? Doesn't seem like it to me.
Does “disrespectful” instead of “offensive” satisfy your need to play semantics?
Please don't cross into incivility in Hacker News comments.