Super Testnet on Nostr: yes but with three big differences: (1) firefish uses a 2 of 3 multisig escrow, and ...
yes but with three big differences:
(1) firefish uses a 2 of 3 multisig escrow, and the lender only has 1 key. So the other 2 parties (firefish and the borrower) can collude to steal your money. Loan shark doesn't have that problem, the lender and the borrower are the only two counterparties involved (other than bitcoin miners, because according to my standards, miners are counterparties to every transaction they mine)
(2) firefish is not bitcoin only. You use them to borrow fiat with your bitcoin as collateral. Loan shark lets you borrow *bitcoin* with your bitcoin as collateral.
(3) firefish requires KYC info. Specifically, they require "your full name, your address, [and] details about your bank account." source: https://docs.firefish.io/legal/terms-of-service Loan shark requires no identification whatsoever
(1) firefish uses a 2 of 3 multisig escrow, and the lender only has 1 key. So the other 2 parties (firefish and the borrower) can collude to steal your money. Loan shark doesn't have that problem, the lender and the borrower are the only two counterparties involved (other than bitcoin miners, because according to my standards, miners are counterparties to every transaction they mine)
(2) firefish is not bitcoin only. You use them to borrow fiat with your bitcoin as collateral. Loan shark lets you borrow *bitcoin* with your bitcoin as collateral.
(3) firefish requires KYC info. Specifically, they require "your full name, your address, [and] details about your bank account." source: https://docs.firefish.io/legal/terms-of-service Loan shark requires no identification whatsoever