Oddbean

▲ ▼

 nostr:nprofile1qqszjy3du4wgp7tfy8rgguumyee2rte73jyqsfp4d6n75gxxypg4yyqpz4mhxue69uhhqctfvshxumewwd68ytnrwghsz8nhwden5te0dehhxarj9ekkz7rfd4skx6t5v9jx2mpwdaexwtcprdmhxue69uhhyetvv9ujumtpva5kxcmfw3ujumrfwejj7x4v90y and nostr:nprofile1qqszw0ncsrfc6wd8lv3cal8cj4apkke8aqv3y75ys05h2st2p2g035spz3mhxue69uhhyetvv9ukzcnvv5hx7un89uq32amnwvaz7tmjv4kxz7fwv3sk6atn9e5k7tcpzdmhxue69uhhqatjwpkx2urpvuhx2ue0psxmsq You control 1 of 3 or 1 of 4 keys. Depending which platform you use.

▲ ▼

 So who controls the others? What happens if we get to a disagreement?

▲ ▼

 nostr:nprofile1qqs0zltclduzn5agaga6fjgrxh44g8wp0fnq23rccwh00vacup0karqpz9mhxue69uhkummnw3ezuamfdejj7a8wp3u

▲ ▼

 In HH there are 3 keys - one to lender, one to borrower and one to HH. You need to have 2 keys at least to move collateral. 
In Debifi 4 keys - lender, borrower, Debifi, authorized (independent) key holder. You need to have at least 3 keys to move collateral. 
If there is dispute - support aģents will solve it and co-sign with the winning party. But tbh it's rarely the case. Game theory and consensus are powerful tools 😎

▲ ▼

 I still trust code more that a third party. Any of these platforms could act against me for any number of reasons. 

From being in cahoots with the other party to simply steal my shit, all the way to being forced to give up the key by a criminal actor, like a government agency. Also, human arbitrators make subjective interpretations and I may still disagree with their opinion, and there's nothing I can do if they decide against me.

The output of a smart contract is neither interpretable nor capable of conspiring or of being pressured into acting in a bad way.

▲ ▼

 In the case of Debifi, there are several parties involved + the key generation/distribution code is open source. Code can be always modified, so the best approach is code + trusted (legit) party.

▲ ▼

 In the case of Lend by Hodl Hodl, the lender controls one key, the borrower controls a second key, and Hodl Hodl controls the third key to be used only if a dispute arise between lender and borrower.
If you need more information please send your question by email to support@hodlhodl.com
We will be happy to help you.

▲ ▼

 Ah OK so in this case @hodlhodl is not a lending service but a P2P lending platform. Interesting if will look into it

▲ ▼

 Any doubt, we're here to help.