Replying to Avatar WhiteRabbit

"Never sell your bitcoin!" they say

Also, no good lending products actually seem to exist?
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Sourcenode 1y ago

We are hopefully a year or two out from competitive lending products. Right now the interest rates are kinda nuts, but still probably worth it.

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WhiteRabbit 1y ago

Tough to swallow ~14% APR AND counterparty risk. Best case scenario bitcoin far outperforms the APR and your lender doesn't go broke. Worst case scenario? Lender blows up and you lose all your collateral.

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Sourcenode 1y ago

Yes lots of trade offs for certain, but if looking back if I had taken out loans rather than sell I'd be better off today.

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cloud fodder 1y ago

remember blockfi? imagine scrambling to pay off the loan and move your coins before bankrupt.. never forget.. many rekt.

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Sourcenode 1y ago

No doubt. It's scary, but ledn did weather that storm.

Also if the company you owe the loan to is the one that defaults I think it's a different scenario.