There is no rehypothecation with Strike Lending.
When you take a Bitcoin-collateralized loan with Strike, your #Bitcoin stays in a segregated wallet. No rehypothecation, no funny business.
We hear you loud and clear. Better rates is next. Give us until the end of the month 🫡
https://blossom.primal.net/b4d10103d60371ed362abc40a97cba6f15c03abe250d92f9d687475d1a536477.mov
Cool
Convenient indeed
Convenient indeed
If no rehypothecation, proof of reserves asap please.
Perhaps a newb question, but I hear ppl saying to borrow fiat from your bitcoin because then you don't owe taxes on it. But if I have to sell a little bitcoin to pay off the loan, don't I still have to pay the taxes on that sale? Or is there some other way ppl avoid taxes in this situation?
Is my brain suddenly gets old crazy or have I heard these sounds a few years ago? #Celcius #FTX…
Lets see what you can do. Love the energy.
When you’re lending cash for interest instead of paying yield for deposits, no funny business required.
SHOW ME THE UTXO
Thanks for clearing that up 👍
Next important question: Can the borrower hold a key so they can verify?
When Unchained offered loans afaik the borrower held one key, Unchained held one and the lender held one.
dumb question but what stops unchained and the lender from playing games w your btc in this 2 of 3 setup? does one key have to be yours? how do we confirm that the other 2 can’t transact with their keys only?
Not a dumb question. The other two could do that, but since they are both highly regulated entities it’s unlikely they would collude like that.
That said,
Not your keys
Not your coins
remains true.
You are 100% trusting third parties with your corn when you hand it over as loan collateral.
Thank you, please consider adding rolling the debt automatically without payment of principal, give us the line of credit like debt.
Proof of reserves? 🤔 not just for the lending but for Strike as a whole? Similar to what River has built
the lending I understand and am working on because you can’t withdraw the bitcoin while you have a loan outstanding against it
for a normal bitcoin deposit, we don’t get many requests for this. you can always withdraw your bitcoin from strike for free. what would proof of reserves on bitcoin you can always withdraw solve? you can never truly prove it. if you want to ultimately prove your bitcoin is there you should just withdraw it right?
That makes sense, guess I’m thinking from someone on an outside perspective who hasn’t used Strike before, ensuring any Bitcoin bought from Strike isn’t a IOU
You're funny. If one person withdraw, it doesn't prove anything, if 50% of all BTC are withdraw at once, it proves you have at least 50% of it, if 80% withdraw, it proves at least 80%.
The only way to prove it that way is that 100% of all BTC of all customers are withdraw all at once. And this would need to be repeated at random interval to prove it really.
There must be a way to prove the reserve otherwise self-custody is the only viable solution.
We love ya nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle, now show us how you’re gonna do the proof of reserves
What does, "inevitably, at times, they are going to need access to the collateral" mean?
Can we see the segregated coins? I like that you can see them on Unchained, but your rates are slightly better.
I wish my state allowed loans like this. I don’t have a need for one currently, but would be great to have in my back pocket.
But where does the money come from? Businesses don’t do things out of the goodness of their hearts. And there’s no such thing as a free lunch as my dad always said.
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We have reached the point again where people give their (digital) gold to someone in order to receive paper notes in return. History always repeats itself
Is this possible in Australia?
I would never give my ₿ to anyone 🤷♂️
Thank you thank you thank you, I can not tell you how much better I sleep at night now that I’m buying hourly. #strikemefuckingdeadgood
Wen Idaho?
I would really love to hear nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt take on this!
