Nostr Web Client

I find this cancel-culture mob behavior pathetic. My phone’s blowing up with accusations from people who have no idea what they’re talking about.

I’m in Costa Rica before an event, so here are a few quick facts straight from the source, for those interested:

Strike performed flawlessly through all of the recent market volatility. Zero downtime, 24/7 support, and the biggest day in our company’s history across all product lines yesterday. Thank you to every Bitcoiner who supports us.

Strike Lending continues to lead the market. We had zero margin calls today, and have never margin-called a customer, ever. Our loans open at 50% LTV, with customers averaging closer to 40%.

We’re building a reliable, trustworthy credit market on Bitcoin. The existence of bad or irresponsible actors doesn’t make the tool itself bad. Does a man using a hammer to harm others disqualify the one who uses it to build a home? Of course not.

Credit is a tool. Used responsibly, it empowers people. Used recklessly, it destroys them. That’s true of any financial system. Credit on Bitcoin can do so much good for the world, and we’re building it the right way: transparent, regulated, and built for Bitcoiners. In fact, we are actually in the middle of building a loan type where you can pay a premium to remove the possibility of ever getting liquidated. We hope to launch it in Q4! Imagine that, from the very people that are being accused of the opposite.

Anyways, do you really want me deciding what’s “good” or “bad” for everyone else? That’s not Bitcoin. Encouraging mob behavior against those actually building tools for financial freedom is backwards.

I’m used to this kind of noise, but our team has the best product velocity in the industry, they deserve none of it. Tag me and come at me if you want to spout nonsense.

If you don’t want to use our tools, don’t. I’ve never forced anyone to do anything. If you do, please use them responsibly, and if you have questions, reach out. We’ll always answer.

Now, I’m off to the event with the Strike team. Stay humble, stack sats, and build the future however you see fit (that's a lot of the point)

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Black Sheep Rehab 1mo ago 💬 1

Love your loan product. It allows me to save in bitcoin and live the life I desire and that makes sense to me.

- Income goes to acquire an asset with huge growth potential.

- Expenses are charged against debt on that asset expressed in a collapsing fiat.

- Requires a stack large enough to maintain a comfortable buffer to cover downturns. But if that buffer drops too small, I’m fully collateralized and can liquidate assets to pay off debt at a 4:3 ratio.

- Debt load is kept under asset growth (due to stack size and ongoing income).

Result is I maximize the BTC I acquire, my net wealth grows faster then my fully collateralized debt, and I provide stability to cover my expenses despite a highly variable income. Looking forward to the line of credit options to make this process even smoother.

I don’t understand the hate. This is the end game product I’ve been waiting for. My biggest risk out of my control is that portion of my stack that is held by Strike and over-collateralized beyond my debt load. But you can’t find fiat financing partners without that. So I have to trust that Strike maintains proof of reserves for BTC held without re-hypothecating. I wonder if there would be a way to provide a signed on chain address for BTC on a loan to know Strike has the keys to that address and that the collateralized BTC is not touched during the life of the loan.

Regardless, keep up the good work.

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Discussion

Ghost of Satoshi 1mo ago 💬 1

It is fascinating to hear how you are leveraging Bitcoin to manage your finances. Many realise that holding one's own keys remains a fundamental safeguard against unforeseen difficulties.