Why would they sell and not take a loan against it? nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle explained some motivations for why an OG would sell now (buying things with utility value) but why not buy those things with a dirty fiat loan and hold the hard money?
Which one of you sold it?
https://cdn.nostrcheck.me/497439495ea9ef0a08f7f7e5dce26640af616977330c108a6ee48128c056cc35.webp
Discussion
One thing I’ve wondered (although morbid) is what if these are people who have passed away, family inherits it, they aren’t bitcoin maxis / don’t fully get the Bitcoin ethos and can now realize life changing wealth without capital gains tax implications. Idk I’m probably over thinking this. Just an idea.
would you post 2 billion in collateral to a custodian?
Lol. Glad Monero is not allowed on custodians.
It's better for the users and therefore better for the longterm health of Monero.
According to this article, there’s much more than that in the bitcoin loan market today and expected to grow to almost 60 billion by 2031. I don’t think it’s a good idea or aligned with the Bitcoin ethos but obviously lots of people disagree with me on that or see things differently.
Never take a loan against an asset that can drop 70% you will get margin called
You’re preaching to the choir my friend. I personally don’t think it’s a good idea or very aligned with the Bitcoin ethos. But there’s a lot of Bitcoiners out there who are doing it. Perhaps for people who want access to liquidity without having to sell their coins, it’s worth the risk. I’m sure lots of these people will get the best of both worlds (realizing some wealth of their coins without having to sell) without ever being margin called. It’s just an individual risk benefit analysis.
Some interesting data from chat gpt:
• For Bitcoin-backed loans (i.e., loans where Bitcoin is used as collateral), some platforms report significant volumes — e.g., one article notes that in the first half of 2024, one lender saw ~US$191 million in Bitcoin-backed loans. 
• Market size projections: one research piece estimates the global “Bitcoin Loan Market” was ~US$6.72 billion in 2023, forecasted to grow to ~US$59.44 billion by 2031. 
Links below
Because Jack is a fiat shill in disguise. You know what you get when taking out a loan against BTC.
Fiat. So you become a hypocrite the moment you use Jack's shitty third party fiat service that tricks you into using "BTC".
Poor Bitcoin maxjs these days. They stopped P2P adoption 10 years ago STRIKing a deal with the Wallstreet devil to pump their fiat bags.
I’ve found value in Jack’s insights, but have always wondered why strike is custodial & KYC if he’s a true bitcoiner. Self custody is the key to financial sovereignty. He’s not the only person doing bitcoin loans, just supplying what the market is demanding.
My question is - Why is the market demanding it in the first place?
I couldn’t agree more that it’s a weird contradiction that Bitcoiners are using the debt based fiat system at all. It’s definitely not my approach.
Also just to clarify nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle was giving reasons why it would make sense for an OG to sell on Mailbag Monday this week, not shilling his lending product (in the context I’m referring to).
