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RE: Steem Loan Idea Being Explored with a loan to @mrwang managed by @virtualgrowth
Ok so if I give out a loan we would base the current loan on the USD value of the Steem/SBD.....If the price were to go down then more SBD/Steem would be paid to equal out to the value of USD. If the price were to go up then I would get less steam/SBD to equal the USD value? Is that correct?
That is correct.
Last question I have as of now....How do we keep track of the amount of steam/sbd paid back and the actual value of it when it was paid?
what if it's included in the memo?
yea thats a decent idea
sure.. I can check prices when time comes for payment and include either time stamped screenshots or plain text if necessary
Can keep track in memo and/or posts with a summary to serve as an example of this idea use case.
May provide info such as:
previous balance (of usd=sbd+steem)
current payment (of usd=sbd+steem)
new balance (of usd=sbd+steem)