You also add that not only do you have to take out loans to pay off previous loans, but you also have to take out loans to continue living, all with absurd collateral of 50% and interest rates of 15%.
Who pays these morons who try to deceive people?
Discussion
I have mixed feelings about this 😮💨
I’m not sure what I’ll do some 5 years from now…. I guess it depends on the state of the loans. Maybe the collateral and interest percentages improve. In any case, bitcoin should be much higher and so I’ll need a far smaller % of my stack too… or maybe I just sell… like i said - I’ll evaluate my options
I'm living off Bitcoin collateralized loans for around 6 years. Not a single problem. No hack, no margin call, interest rate under 6%. Have more sats that I would otherwise have.
I call FUD. Short fiat.
6%? Platform?
Aave
But since there's arbitrage, you can get the same interest rate across the ecosystem.
A collateralized loan is mathematically the same as long future position. Click here and choose Annualized premiums: https://bitcoinfuturesinfo.com/market-share-and-futures-curve
You can of course choose smaller exchanges as well.
Also... I short eur, not usd, because eur is worse shitcoin in general