‎One thing that stood out to me about BTC-backed peer-to-peer lending came after I stopped thinking like someone reading a crypto document and started thinking like Bob. If 1 BTC was my savings, I wouldn't lose sleep over the loan itself. I'd lose sleep over handing my Bitcoin to someone else and hoping everything goes as promised. Bob needed $50,000 but didn't want to sell his 1 BTC, so he approached Mimi Alpha for a loan. The agreement was simple: repay the loan and get the BTC back. If Bitcoin dropped below the agreed level before repayment, Mimi Alpha could liquidate the collateral. The loan wasn't the part that changed my mind. The trust was. That's why Babylon's Trustless Bitcoin Vaults (TBV) caught my attention. They don't ask Bob to trust Mimi Alpha or Mimi Alpha to trust Bob. They ask both of them to trust the same rules. That was the moment I stopped seeing TBV as another lending feature and started seeing it as a different way to think about Bitcoin-backed loans.
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‎$ON $BANK $BABY

If you were Bob, what would matter most?