I'm critical of taking out a loan against a volatile asset, as that's what brings us nostr:npub1r3kty2vkh247jgdu63wgkcsnktdtp9hc3e962eudg0getgvxs4gsz4uytc.
Discussion
It is certainly not stay humble stack sats behavior if you ask me
Has to be extremely over collateralized to work, imho.
Yeah, it is. It's a good offer, for that sort of thing, TBH.
I'm just trying to think of what can give me 15% annual returns in fiat, with decent risk, and Bitcoin is the obvious answer. Leverage Bitcoin to get fiat to buy more Bitcoin. Okay.
Banks loan against volatile assets all the time when their borrowers buy new cars. The difference is, they're never required to mark it to market.
IDK, I can see an argument that taking out a loan against a volatile asset is the only defensible form of interest-bearing loan.
The usury oligopoly's profits depend on asymmetry of information, asymmetry of access, and on privileged access to state violence funded by other people to repossess residual assets. And bailouts if they still lose even after cheating.
Leveraged YOLO bets are one avenue for redress.
If I wasn't worried about my wife losing her clearance, I'd be very tempted to do it myself.
Bankruptcy is the quintessential middleclass taboo - our rulers don't care and we shouldn't either. Just need to make sure major assets are unseizable (mine all are, except the cars).
What would you do, to earn the interest, to pay it back, as well as a thick margin on top, to make it worth doing at all?
Heads I win, tails I declare bankruptcy and let a liquidator sell whatever options / altcoins / metals I gambled on and empty my bank account.
Undischarged bankruptcy comes with many legal disabilities, but none I couldn't live with.