Oddbean new post about login | logout Where can I quickly get a $10k paper money loan, with $10k in BTC as collateral, to buy $10k worth of BTC before shit gets overly real? 🤔
Ask Jamie Dimon.
I was going to ask Michael but he isn't taking my calls.
He doesn’t want any competition. That’s a fact.
His playbook is brilliant though. This where owning a little KYC bitcoin can come in handy. I know you can use it as collateral in some places.
I’ll spot you guys… meow 😽 https://image.nostr.build/ffe78bffefad0a328f4eb5524ef8d66185ac235e49dadd60e09849f9758730fe.gif
🤣
Get an unsecured line of credit from the bank then start filling orders on robosats
I don't have a credit line. Somehow banks over here don't like to give you loans if you're not paying off any loans already.
Just apply worst they can say is no
I have in the past but without debt it's not that easy. Plus, I don't really want to owe a bank, they're scammers and can't be trusted. If I were to collateral coins they'd have to be tied up in an unbreakable contract on-chain.
Just trade bitcoin futures on LNMarkets then and use your coins as margin just don’t get liquidated 😅
I do margin elsewhere but I keep trading portfolio and hodl stack strictly separated and I cap at 3x. I leave the getting liquidated to the noobs. 🤣
This was like the game Celsius, etc all lured people in with lol
It's basically what Saylor has been doing for the last 4 years 😉
Hah true true
I know nothing, but some podcasters peddle it. https://unchained.com/loans
I'll check them out. ty
As of 1 January 2024, they only loan out to business entities with stated business purposes. They won't give out Bitcoin-backed personal loans
interesting, what's the reasoning? regulation compliance?
Not sure. They didn't really give out specific information. It could be they're just more comfortable giving loans to larger entities but it's also possible they're feeling regulatory pressure and adjusted their business model.
Hodlhodl.com you can get loans with btc and you will receive Lbtc
