Bitcoin
Bitcoin
Out of context: Reply #1907
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- NBQ00-2
If I only held my $230'ish coins from 2015. Sigh.
- bitcoin is not for selling. if you need money, you use it as collateral for a loan.ESKEMA
- Good to knowNBQ00
- bitcoin is only for reaching THE MOON@!@shapesalad
- what's the interest rate on a bitcoin loan? sounds like a recipe for disaster. does the lender peg to moon value?jonny_quest_lives
- Bitcoin is not for the people and the people are for Bitcoin.palimpsest
- 1%ESKEMA
- for example: https://celsius.netw…...ESKEMA
- i take it the exchanges are handling these meteoric rises well?jonny_quest_lives
- https://imgflip.com/…jonny_quest_lives
- 1% rate but you need a to lock in 4x collateral in a hot wallet?jonny_quest_lives
- it's adjustable, depends where you go, but it should get better over time as btc becomes less of a risk. This is all very new. Needs to matureESKEMA
- and they certainly lock it in a cold wallet.. or they should..ESKEMA
- i don't think they do... think they are hot walletsjonny_quest_lives
- https://www.theblock…jonny_quest_lives
- yeah reading now. This was a recent move when thay added fireblocks. When using only bitgo it was cold.. so it's a mix now..ESKEMA
- i think it's how they generate their actual revenue... leveraging the capital back and forth in perpetual futures.jonny_quest_lives
- i mean the money to loan has to come from somewhere...jonny_quest_lives
- honestly above my head and i can be reading it all wrong but they have an algorithm that moves the collateral (your btc) from hot and cold walletsjonny_quest_lives
- i found this on reddit (so take that for what its' worth)jonny_quest_lives
- "Almost all funds are in hot wallets being lent or they can’t earn you interest on your crypto.jonny_quest_lives
- Celsius has a 5MM safety fund in case of a default and they spread the lending over as many clients as possible with varying levels of collateral required.jonny_quest_lives
- Bitgo’s 100MM fund is only for funds in cold storage and this does not extend to Celsius users. Is celsius low risk?jonny_quest_lives
- I believe so and Mashinsky is very bright and dedicated to making a big impact in crypto. Regardless, if bitcoin goes parabolic so does your risk."jonny_quest_lives
- so i guess this would be parabolic risk territory? ¯\_(ツ)_/¯jonny_quest_lives