Subnostr

nobody 1y ago

Now that we are immersed in NGU for bitcoin, you’ll be tempted to get a collateral backed loan in btc. From a former user, please don’t do it. It ain’t worth the risk and the stress that these loans carry.

We are not ready for this type of instrument just yet; it’ll be a different situation once it hits 1 million usd each

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Discussion

nobody 1y ago

The stress is too high. I think I got a couple of gray hairs when I had one of these loans open

Mark Sea 1y ago

Agreed. I paid mine off very early for this reason.

nobody 1y ago

For best! Now looking in retrospect, it would’ve been better to sell a portion of my stack than to get a loan. But hindsight is 20/20 haha