Pre-Proposal: micro-loan for coffee house? ☕

Would you give me loan?

  • Total voters
    12
Status
Not open for further replies.
Yanik

Yanik

New member
Background and why I'm putting this here
Dash is money. Much better money, fair and safe money. And if in developed countries the situation with fiat currencies just very bad (mostly because of all the inflation and unfair banking system). In developing countries the situation is horrible.
For example, In Ukraine national currency (UAH) in compare to USD dropped from 8.2 to 26.7 in just 3 years. And to this USD inflation itself and imagine what happens to people savings, income... The reasons behind this are complex, but the main one is governance corruption.
That's why I believe cryptocurrencies are much more valuable to developing countries, it solving many issues!
And I'm here to create this crypto-precedent, create first peace of alternative economy (not corrupted one), you know.. coffee house :)

Idea itself
Open small coffee house which will accept cryptocurrencies along with fiat money. Educate people about crypto, create the "the news precedent".

Why I'm doing It
I'm selfish, I want to maintain one of the first businesses working with crypto in Ukraine. And start with my hometown, which means a lot for me, since I'm no longer living there. And imagine what ... The place doesn't have decent coffee, which is unacceptable!

What you need
0% loan (read below why 0), fixed in USD. First of all, loans in Ukrainian is like 15-30% yearly and you will have a headache dealing with banks. I would suggest to the community to give me the loan with no percentage because of:
  • The coffee house will accept Dash and educate people about crypto.
  • I will cover the whole process within my medium blog: yanikkoval.com
  • I will still lose converting local fiat to Dash (to return loan)
How much you need
Around 16-17k USD. I will prepare the much more detailed business plan with a better numbers.
Do you have a spot?
Yes! I own very nice spot 1-2 km from the 14-century castle! The place itself is near the bus stop and where 2 roads are crossing each other.

When will you return the money?
According to my business plan, I can return all the money within 4-5 years, payments each month.

Why should we trust you?
You shouldn't. I'm here to work on the mechanism which will make this kind of loans possible. I'm want to be completely transparent and always open to suggestions. I believe that micro-loans can really boost crypto use case, that is next step after you create the new money.

I would really like to have feedback on this. Is it even possible to organize such thing? Are you want to work to create Dash micro-loans mechanism?

Of cause I will submit much more information on the coffee house itself, in case I'll receive positive feedback here.

Cheers
 
Let say it is 17K USD=about 340 Dash at current price. I assume you want a one time payment? I would like to know is it the total cost of setup a new shop or just part of the cost?
What is your plan of educate people about crypto?
Let's say local people want to convert their local currency into crypto, will you provide those services for them?


使用Tapatalk 發送
 
As much as I prefer microloans to straight up charity, I see several problems with your idea.
First, there is no way you can pay the treasury back. There is no address to send the money to, it can't be done.
Second, your blog is empty, so I assume your social media reach is minimal, and so would be the return for Dash.
Third, in a couple of years mean Dash will probably be worth so much that any dollar denominated loan payments would be negligible.
Forth, you have yet to establish any trust with the community.
We paid ~50k USD for an established crypto service to integrate dash, something like that seems to be a better return for Dash than 17k for a coffee shop.

Maybe you should try kiva.org or something?
 
Random thoughts...
  1. call your establishment something like "Crypto Cafe"
  2. offer a discount to people paying with dash
  3. use a multisig wallet with established dash members, such that they can release money to you and take their share of profits until loan is paid
 
Yanik said:
For example, In Ukraine national currency (UAH) in compare to USD dropped from 8.2 to 26.7 in just 3 years.
Click to expand...

Of course, totally not related to the president fleeing with couple $bln and Russia agression ;)

Yanik said:
And I'm here to create this crypto-precedent, create first peace of alternative economy (not corrupted one), you know.. coffee house :)
Click to expand...

Yanik said:
You shouldn't. I'm here to work on the mechanism which will make this kind of loans possible. I'm want to be completely transparent and always open to suggestions. I believe that micro-loans can really boost crypto use case, that is next step after you create the new money.
Click to expand...

As a winner of last year FinTech hackathon in Kyiv, I'd say that it would be hardly possible to boostrap a loan network without collateral for each loan. You'll need strong identification, ability to create lending contract, enforceable within specific jurisdiction. And that puts the end to the idea.

And, if one would be able to provide collateral in crypto, that effectively translates to hedging one currency against other.

Summary: it's too early to create micro-loan network in crypto.
 
Naruto said:
Let say it is 17K USD=about 340 Dash at current price. I assume you want a one time payment? I would like to know is it the total cost of setup a new shop or just part of the cost?
What is your plan of educate people about crypto?
Let's say local people want to convert their local currency into crypto, will you provide those services for them?


使用Tapatalk 發送
Click to expand...

Not necessary one payment. There are 3 main stages:
1) preparing project
2) building coffee house itself
3) insiders and equipment.

And they are not parallel, so it is possible to do 3 payment, instead of one.
After each I can present the result. And this way it will be less risky for investors.

17k USD should cover around 80%, of cause it is impossible for me to say total price now. That's how much I would ask bank for.
And yeah, this is not all money I will be relayed on.

About education. I will definitely not sell crypto to people, but I can teach them how to do it using existing online banking. Ideally, I would like to turn my coffee to spot where people can exchange peer-to-peer avoiding banking system. But I understand it is not really possible at first.
Also on education side I would like to have casual place presentations and do regular presentations.
 
GrandMasterDash said:
Random thoughts...
  1. call your establishment something like "Crypto Cafe"
  2. offer a discount to people paying with dash
  3. use a multisig wallet with established dash members, such that they can release money to you and take their share of profits until loan is paid
Click to expand...

I like first two ideas! Thank you for a suggestion.

About third one. I believe Dash price will be much higher by the time I finish my coffee ( the plan is October 2017, if I start real work in 1-2 month) and start paying back.
So it is not a really good individual investment, but for the community itself, it will beneficial because of other reasons.
 
akhavr said:
Of course, totally not related to the president fleeing with couple $bln and Russia agression ;)


As a winner of last year FinTech hackathon in Kyiv, I'd say that it would be hardly possible to boostrap a loan network without collateral for each loan. You'll need strong identification, ability to create lending contract, enforceable within specific jurisdiction. And that puts the end to the idea.

And, if one would be able to provide collateral in crypto, that effectively translates to hedging one currency against other.

Summary: it's too early to create micro-loan network in crypto.
Click to expand...

I understand that it is too early but we should start somewhere? If dash will these micro-loans to money it can make a big difference.
So why not start working on mechanism already and just implement missing pieces one by one.
 
Yanik said:
I understand that it is too early but we should start somewhere? If dash will these micro-loans to money it can make a big difference.
So why not start working on mechanism already and just implement missing pieces one by one.
Click to expand...

A btc jam for dash would be awesome. And if that happened, im sure you would be successful in attracting investors from the dash community.

I think your proposal is too early for dash right now. Good luck with the venture. Please keep us posted on how it goes.

I would love to post a photo on this forum one day of me buying a coffee in your place with dash!!
 
halso said:
A btc jam for dash would be awesome. And if that happened, im sure you would be successful in attracting investors from the dash community.

I think your proposal is too early for dash right now. Good luck with the venture. Please keep us posted on how it goes.

I would love to post a photo on this forum one day of me buying a coffee in your place with dash!!
Click to expand...

Thx man, I know someday it will happen.
 
Yanik said:
I understand that it is too early but we should start somewhere? If dash will these micro-loans to money it can make a big difference.
So why not start working on mechanism already and just implement missing pieces one by one.
Click to expand...

Such service depends on wide acceptance of blockchain identification and reputation system. So, if your reputation is a tradeable asset, you can put it as a collateral for your loan.

W/o collateral microloan system would be quickly gamed by a sybil attack. Or default to a human judgement, like in btcjam.
 
1. In my opinion there is not much added value for such big amount of money. How many people would you be able to reach and over what period of time? Dash network would benefit more if that money was spent on google ads or something similar.
2. Even if you manage to convince masternodes to your idea, there is still one problem remaining, as Lynx said; Who would you give the money back? Treasury doesn't give out loans, but grants.
 
AnarchicCluster said:
1. In my opinion there is not much added value for such big amount of money. How many people would you be able to reach and over what period of time? Dash network would benefit more if that money was spent on google ads or something similar.
2. Even if you manage to convince masternodes to your idea, there is still one problem remaining, as Lynx said; Who would you give the money back? Treasury doesn't give out loans, but grants.
Click to expand...

1. I see your point. I believe that is true, ads more efficient. But don't you missing the point that I will actually return the money?
2. Currently, there is no such mechanism. But it does not mean that one cannot be developed :)
 
The MNs cannot give you a loan because there exists no mechanism by which you could pay back the loan.

A person could give you a loan. But, it won't be me.

I vote potato because it makes as much sense as the proposal.
 
Status
Not open for further replies.
Back
Top