Everyone can make their own decisions, but borrowing at all is not something we should regularly do. And additionally, the interest rate that one is likely to get on this borrowing will probably not competitive enough to consider it a "speculative attack". Rather, it will set at a rate that most likely makes it considered irresponsible borrowing in nearly all cases.
Unless there is some tax advantage to this borrowing that makes it all justified...
Just my two cents. DYOR!
Want tax free fiat?
Break it down for me a bit more.
Sorry. Got over my head. My solution is not lawyer proof 😶🌫️
this is no different than a credit card. in fact, it’s better because it’s secured.
are you against credit cards?
So I get 2% cashback?
“It’s better because it’s secured” yeah for you maybe
I rather not have to put any collateral at risk to get a line of credit
I'm against not using #bitcoin as money
It's just not smart to part with bitcoin,
I've learned this probably over 3,000 times now, this is a good solution for daily spending for those that hold BTC
Depends on how they are used. Carrying a balance on a credit card such that loan interest accrues is indeed a bad thing in 95%+ of cases, IMO.
I still hold and use a credit card and have collected thousands in rewards over the years... but I've never not paid it off entirely each month and thus have never paid interest on the borrowing (made mistakes with credit cards in my early twenties though).
I guess if users are paying off their loan balance each month than they should never pay interest on it, correct? Will that be possible? Or will there be origination or other small fees? Will there be cashback involved?
Wish you luck regardless.
I never used a credit card
Yup, only makes sense if you’re rich rich
This just perpetuates the fiat system. This does not treat bitcoin as money.
If I wanted an asset as collateral I would buy gold and park it at a bank.
