Not advocating for this, but:
If everyone took fiat loans against their #Bitcoin and bought more corn with the proceeds, then took additional loans against the newly bought corn and bought more corn, and so on and so on..
Well either the price goes to $100 million, or we discover Coinbase et al think there’s 100 million coins in supply..
corn loans then against in think advocating for and took 100 more on Not $100 so and this, additional against discover the Coinbase or to corn loans al supply.. took corn, newly million, bought and bought so million fiat there’s either their everyone on..
Well coins et the bought and we goes more price the proceeds, but:
If #Bitcoin with
How do you take fiat loans without KYCing your coin?
Not sure that’s possible yet, can’t think of any providers doing it. No reason it couldn’t be done though
Wall street does it so yeah it's definitely possible but if you don't have a credit score you don't get loans anyway. Best way is using some BTC as collateral to borrow money from an exchange. Buy BTC with it (2x, 3x) then pay it back whenever you feel like it. Odds of being liquidated on that margin are minimal. If you were to put 1k on an exchange to borrow 2k after a bounce BTC would have to drop into the 60k range before you get called.
I believe some loans are denominated in USDT or USDC.
True. It's basically what I do when stealing sats from the market. I put up a BTC collateral, buy BTC with it and eventually pay them back. But taking traditional loans against BTC isn't as easy as it might sound. Plus, if you're debt free good luck getting loans without a "credit score". I literally cannot borrow fiat money from ANY bank because I don't owe anyone. Crazy right?
I feel ya.
Actively looking for a BB loan solution right now.
Alas, there's only tradeoffs.
A big one or just a couple of K? I might have a solution for you.
More like 100k
Vield.io services Australians.
I looked into them last year, spoke to them a bit too, nice guys but wasn’t satisfied with their answers for the backend yet, seemed too immature to me.
13%
That's just ridiculous
Yeah it’s very high, they’re connecting private money who could easily go lower but that seems to be the standard sort of rate on these products, even when way over-collateralised.
I’d be waiting for a bear market now to see who survives because there seems to be way too much froth and leverage sloshing around now already.
I think the likelihood of another crash led by equities is pretty high.
I want to have dry powder ready to take advantage.
If it doesn't, then that loan is what I'll be living on.
Eventually, you'd end up getting "sold" your own collateral 😏
