Replying to Avatar unit

Don't be fooled with Bitcoin Backed Loans

Corporate TOS will have a clause stating TOS can change at anytime without notice

So, any promises made by any talking head can and will be broken
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unit 7mo ago

When push comes to shove, the survival of their bussiness and equity holders will take priority over you and your #bitcoin

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š¯•˛ptf 7mo ago

Not your keys...

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jamw 7mo ago

Agree.

But I think it will depend on oneā€™s own liquidity and level of CGT liability and if you really need the fiat/your individual circumstances.

Sell your bitcoin for fiat at 24% CGT (and your bitcoin has gone)

VS

A backed loan at around 11% and your bitcoin is still there (accruing) albeit in the hands of someone else.

Neither is good.

And I despise all forms of debt, so not for me.

Bitcoin as legal tender/currency (no CGT) for buying all things is the way.