This is something I've learnt from you
So on point when one thinks it through
"When someone promises you like hey you're going to get 4% yield on your Bitcoin when you know that you know Bitcoin itself is not generating any yield, then obviously you should ask yourself the question like okay so where where does the yield come from? And that's actually my favorite Bitcoin meme. So this was definitely this was definitely the inspiration for us, and we really that's why we wanted to create a platform where you do not have to trust."
Igor Neumann from FireFish / Ep.51 / 11:31
Borrowing Against Bitcoin? Watch This to Avoid Getting Liquidated
Igor Neumann joins me to break down the biggest risks of taking a loan against your Bitcoin: liquidation risk and counterparty failure.
Bitcoin Loans: Here's the Interest Rate You Could Get
Igor Neumann explains how Firefish flips the traditional lending model by letting borrowers set the interest rates they’re willing to pay, and how lenders then choose which loans to fund based on their own return targets.
The Celsius Crypto Collapse Explained...
Igor Neumann and I break down the collapse of Celsius and how it inspired the design of Firefish, a Bitcoin-native lending platform built to minimize trust and eliminate counterparty risk. We discuss what really happened with the failed yield platforms, why chasing 4% yield on Bitcoin is like picking up pennies in front of a steamroller, and how Firefish uses native Bitcoin tools like multisig to create a trust-minimized protocol.
Good vibe
Being scared of "AI" is only giving it more energy
Yeah I just released an episide with Igor from FireFish, which is a BTC collateral marketplace, and I thought it sounded better than previous products
Still not totally over the line with it, especially when one is considering Real Estate, which itself has sophisticated debt products
Well this is where the capital allocator must be careful...
Firstly, it's all about position sizing in my view. Eg you take 20% of your BTC stack, re-allocate into a leveraged real estate play, and commit to carry the debt. Sure, your 20% could reduce by 35%, but the key is you would still have 80% of BTC to potentially price action to the upside. It would be about allocating into something you need, whilst not losing the amazing capital growth position that you've built youself. If you really went for it, you could use some kind of BTC collateral tool instead of selling, but I think I prefer the cleaner approach of simply selling
Plenty of thought still required
Note - I would be buying real estate in Australia, I think the chances of a 30% drawdown here are sub 5%
GM
Seen a piece of land with a old house on it
Stunning views
Price guide is right at the top end of what I was thinking
A part of me is so drawn to it
Would be an EPIC base as a family HQ
From an investment perspective the only way it works:
- long term hold
- leverage as much as possible
- add value (ie build something new)
- retain as much Bitcoin equity as possible
In some ways I just have to trust that Bitcoin has my back to carry the debt
Good test of one's capital allocation senses
Worst case scenario?
- you sell it
- it costs you Bitcoin and the consequent purchasing power
- waste's your time
Oooft
Spidery sense is that this is the land for me
If it doesn't become the case, then you know it wasn't the right one
Observing my instinct in itself is an interesting process
There will always be more land
There wont be more Bitcoin
But what better way to re-allocate Bitcoin gains than build a base for a young family?
I can't think of a better one
Some things are worth more than money
nostr:nprofile1qyx8wumn8ghj7cnjvghxjmcpz4mhxue69uhk2er9dchxummnw3ezumrpdejqqg86c5f6rnk7684tcaq8cy5ewjzaazam9rkaanh6q95p0lydfaq855t4snwf ... its not indexed so it will creep its way across the majority of the population over time... Oh except for those on the 'exclusions list' (of which there is a legitimate actual list).
MADNESS.
So unfair. So insane.
Yeah this is key, the indexing. So as they print more money, the 3 mil threshold starts to effect more super funds. Clever in some ways
Clear point though: the more you can understand your foe, the easier it is to defend against them
Bitcoin is Savings. However, you can prudently use your Bitcoin to invest in projects which you think are add value to the society.
While the savings part is taken care of inherently by the Bitcoin protocol. We, at nostr:nprofile1qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qgwwaehxw309ahx7uewd3hkctcpr3mhxue69uhkyatrddjhgtnrdaexzcmvv5h8xmmrd9skctcpzpmhxue69uhkummnw3ezumt0d5hsz8thwden5te0dehhxarj9e3xjarrda5kuetj9eek7cmfv9kz7qpqwrzguj625auyeysfuuxzf7ywhzlwfz9gm3fml2lul72gwqxw8n9s4x9vq7 have gone a step further to build a protocol using #Bitcoin & #Nostr, which together serve as a bedrock for transparent and responsible investing.
If you're an upcoming business or an entrepreneur using Bitcoin as your unit of account and medium of exchange - Angor will help you unlock your true potential!
h/t: nostr:nprofile1qqs043gn588da502h36q0sffjay9m69mk28dmm805qtgzl7g6n6q0fgm3e3d3
How does angor work?
What traction is there thus far?
Can you share a recent podcast appearance for me to check out?
Literally no point to have a expensive and slow database for a centralised entity
Totally agree
That is the price you pay for decentralised consensous
It's adoption is fastest in places with the worst financial infrastructure. You only have to go and ask people in these places to see that. Bitcoin With Jake, my previous podcast, was an amazing insight for just that
Bitcoin Education Is Thriving in Bali: The Story of Bitcoin House Bali
w/ Diana
In Episode 51 of The Jake Woodhouse Podcast, Igor Neumann and I discuss Firefish, a Bitcoin-native lending platform offering transparent, collateral-backed loans. We break down the Firefish protocol, how it compares to failed yield platforms like Celsius, how borrowers are using Bitcoin loans, and how Firefish earns revenue. We also cover interest rate mechanics, liquidation risk, where the platform is available, and Igor’s personal journey into Bitcoin.
Website: https://firefish.io/
Discord: / discord
LinkedIn: / firefish-io
Email: hello@firefish.io
New episodes drop Monday, Wednesday, and Friday. Let's learn together.
TIMESTAMPS:
0:00 - The Journey of Starting “Firefish”
7:11 - The “Firefish” Protocol
8:32 - Celsius: Where does the Yield Come From?
12:33 - Counterparty Risk: Trust Me Bro?
18:03 - How are People Using “Firefish” Bitcoin Loans?
25:48 - Interest Rates for Loans Against Bitcoin
29:37 - How does “Firefish” Make Money?
32:36 - “Firefish” Valuations and VC Funding
37:49 - Traction Trumps Everything
41:50 - Bitcoin as Collateral: Liquidation Risk
47:26 - Where is “Firefish” Available?
49:05 - Igor’s Bitcoin Journey
53:13 - How to Connect with Igor and “Firefish”
If you want to learn more or connect, visit my website: https://jakewoodhouse.io/
Thank you!
Will do a quarterly update on the metrics end of June
Fingers crossed there’s been some growth!
“Australia seeks to turn theoretical wealth into actual poverty by taxing imaginary money. I hope the world is paying attention.”
https://open.substack.com/pub/quoththeraven/p/australias-unrealized-gain-tax-plan
Lots of interesting chatter here in Australia about this
Some interesting points:
- this tax only effects under 1% of super funds
- this tax is not in place for judges and other “important state workers”
- the median super is under 100k aud
Point being, it’s been very easy to persuade both sides of the aisle as it only effects a tiny percentage of the population
Just watch it creep into the wider super industry though
Plus of course, the rich, the most productive, they will just leave if it’s really bad, much like my birthplace the Uk
Zap zap zap
This is the way
The soundest strategy any business owner could take
I look forward to hearing how it goes
Good luck!
Ps - if you’re ever interested in joining a podcast, pls DM me, as I love learning from people sharing their actual decision making journey
This is so true. Your darkest hours become your motivation to find the light
There’s a simple work for this: traction
Amazing to think what seeds of a future this is
A domestic criminal court case in Australia has lead a judge to heavily question the ATO stance on capital gains tax with bitcoin as it “is just another form of money”
Easy to say. Hard to remember. Awesome when implemented