February 21, 20214 yr On 2/8/2021 at 9:06 AM, we_gotta_believe said: "Nobody accepts it as payment" literally a day later... Tesla buys $1.5 billion in bitcoin, plans to accept it as payment https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html And what happens to investors if he decides to sell his bit coins?
February 21, 20214 yr Author 31 minutes ago, jsdarkstar said: And what happens to investors if he decides to sell his bit coins? https://twitter.com/michael_saylor/status/1363508637977690113?s=21 What if everyone keeps deciding not to sell and uses loans instead?
March 13, 20214 yr Thinking of putting money in blockfi to get some interest on USDC. Currently at 8.6%
March 13, 20214 yr On 2/19/2021 at 6:00 PM, Jsvand12 said: What is the best site to buy crypto? Thinking about getting into DOT I use Kucoin and I also own some DOT coins
March 13, 20214 yr On 2/21/2021 at 1:31 PM, jsdarkstar said: And what happens to investors if he decides to sell his bit coins? Part of the upside for corporations holding BTC are the tax benefits. Doesn’t really make sense for a public company to sell BTC once they buy it unless there is some black swan event like a potential government ban that they deem too risky or something along those lines. If a corporation needs money, they borrow against their BTC to avoid taxes. If they lose money on their BTC holdings, they simply write it off which is beautiful for companies with high cash flow and strong long term conviction. Someone like Michael Saylor would view it as a double win; he'd get to keep more of his company's cash with the write off then he'd likely buy BTC with that money and view it as getting it at a discount.
March 13, 20214 yr On 2/21/2021 at 2:02 PM, mattmcginley7 said: https://twitter.com/michael_saylor/status/1363508637977690113?s=21 What if everyone keeps deciding not to sell and uses loans instead? Yeah, that’s how corporations would do it. Little trickier for individuals who aren’t likely to have the same borrowing rates or be able to find a spread from which to profit.
March 14, 20214 yr Author 1 hour ago, TEW said: Yeah, that’s how corporations would do it. Little trickier for individuals who aren’t likely to have the same borrowing rates or be able to find a spread from which to profit. I think that's the next fundamental change as banks begin to hold Bitcoin. Getting loans on it will become much easier for individuals. There are some already apparently, but I haven't looked into it much yet. I'm going to have to at some point
March 14, 20214 yr 1 hour ago, mattmcginley7 said: I think that's the next fundamental change as banks begin to hold Bitcoin. Getting loans on it will become much easier for individuals. There are some already apparently, but I haven't looked into it much yet. I'm going to have to at some point BlockFi offers loans, but from what I understand they offer a maximum LTV of .5 and will liquidate your BTC if the volatility takes it near 1 unless you post more collateral. Right now one of the things that makes BTC so appealing - its volatility - makes it unsuitable for retail loans.
March 14, 20214 yr Author 3 hours ago, TEW said: BlockFi offers loans, but from what I understand they offer a maximum LTV of .5 and will liquidate your BTC if the volatility takes it near 1 unless you post more collateral. Right now one of the things that makes BTC so appealing - its volatility - makes it unsuitable for retail loans. I wouldn't take a loan out on my whole stack. It would be enough to cover a home loan, and this is better than selling because 1. I don't pay any taxes for selling 2. Bitcoin, regardless of its short term volatility is going to keep climbing up long term, constantly keeping me in a better debt/equity ratio and allowing me to still capitalize on the gains I'm convinced I need to do this, but the idea of a fully paid off home and letting the rest ride is also mentally comforting but seems like a costly mistake
March 14, 20214 yr 8 hours ago, mattmcginley7 said: I wouldn't take a loan out on my whole stack. It would be enough to cover a home loan, and this is better than selling because 1. I don't pay any taxes for selling 2. Bitcoin, regardless of its short term volatility is going to keep climbing up long term, constantly keeping me in a better debt/equity ratio and allowing me to still capitalize on the gains I'm convinced I need to do this, but the idea of a fully paid off home and letting the rest ride is also mentally comforting but seems like a costly mistake If that’s your world view (BTC only goes up long term) you’d be better off just getting a regular mortgage. You’ll pay a lower interest rate anyway. Heck, you could put your BTC at BlockFi and collect interest to cover your mortgage payments if you’re looking at ways to monetize BTC. Your risk is their loans going bad, but again, they have such strict collateral requirements that this shouldn’t be a problem.
March 14, 20214 yr Author 4 hours ago, TEW said: If that’s your world view (BTC only goes up long term) you’d be better off just getting a regular mortgage. You’ll pay a lower interest rate anyway. Heck, you could put your BTC at BlockFi and collect interest to cover your mortgage payments if you’re looking at ways to monetize BTC. Your risk is their loans going bad, but again, they have such strict collateral requirements that this shouldn’t be a problem. I like that strategy actually
March 14, 20214 yr 1 hour ago, mattmcginley7 said: I like that strategy actually If you choose to keep BTC with blockfi, I highly recommend enabling 2FA and white listing your personal wallet address.
March 14, 20214 yr 6 hours ago, TEW said: If that’s your world view (BTC only goes up long term) you’d be better off just getting a regular mortgage. You’ll pay a lower interest rate anyway. Heck, you could put your BTC at BlockFi and collect interest to cover your mortgage payments if you’re looking at ways to monetize BTC. Your risk is their loans going bad, but again, they have such strict collateral requirements that this shouldn’t be a problem. Bingo. Kind of already missed the boat on the extremely low rates recently. A 15-year mortgage got under 2% for a bit there at some lenders.
March 14, 20214 yr 2 minutes ago, Paul852 said: Bingo. Kind of already missed the boat on the extremely low rates recently. A 15-year mortgage got under 2% for a bit there at some lenders. Just wait until the Fed goes with yield curve control. They’ll go lower, assuming you have good credit. And even if you don’t, there’s a good chance the government implements some policy to extend credit to unworthy borrowers.
March 14, 20214 yr 1 minute ago, TEW said: Just wait until the Fed goes with yield curve control. They’ll go lower, assuming you have good credit. And even if you don’t, there’s a good chance the government implements some policy to extend credit to unworthy borrowers. Yep, my rate is so low that it would cost more to refinance than what the savings would be.
March 17, 20214 yr Time for another bull run Nearly $40B in US Stimulus Checks May Be Spent on Bitcoin and Stocks: Mizuho Survey The survey by Mizuho Securities estimates that 10% of the $380 billion to be issued as checks could be used to invest
March 20, 20214 yr 46 minutes ago, Seventy_Yard_FG said: What a rip off I mean if you can't smell it whats the point
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