Firefish enables people to borrow fiat money against their bitcoins in a trust-minimized way, using a multisig setup with oracles. Martin and Igor, the two FireFish co-founders, talk about how and why you should be using their service.
**Firefish: A New Use Case for Bitcoin as Collateral (00:01:54)**
Discussion on how Firefish is using Bitcoin as collateral for loans and expanding the use cases for Bitcoin.
**Firefish: Non-Custodial Platform and Peer-to-Peer Marketplace (00:04:29)**
Explanation of how Firefish is a non-custodial platform and operates as a peer-to-peer marketplace for Bitcoin-backed loans.
**Firefish's technical details (00:09:26)**
Explanation of the technical aspects of Firefish, including the use of multi-sig and the different roles in the contract, such as borrower, lender, liquidator, payment oracle, and price oracle.
**The Zombie Apocalypse Transaction (00:11:55)**
Discussion about a transaction with a time lock that allows users to recover their bitcoin in the event of a zombie apocalypse.
**How Oracles Work (00:12:30)**
Explanation of how oracles function in the Bitcoin network and their role in verifying Firefish transactions.
**Firefish's Target Audience and Use Cases (00:16:01)**
Discussion about the target audience for the Firefish platform, including bitcoiners, institutions holding bitcoin, and traditional finance entities interested in funding bitcoin-backed loans.
**Dispute Resolution Rules (00:23:41)**
Discussion on the dispute resolution rules in Firefish platform for resolving conflicts between borrowers and lenders in fiat transactions.
**Changing Perspective of Traditional Finance (00:28:30)**
Exploration of how Firefish platform allows non-bitcoin native entities to become lenders and how it changes their perception of bitcoin.
**Open Source Code (00:32:28)**
Importance of open source code in Firefish platform for security and user trust, with plans to make the code open source in the future.
**KYC and Anonymity (00:34:00)**
Discussion about the need for KYC (Know Your Customer) in the banking system and the challenges of maintaining anonymity when dealing with fiat currency.
**Implementing Stablecoins (00:38:10)**
Consideration of implementing stablecoins as an option, discussing the trade-off between convenience and privacy/risk for users.