You can just borrow against your holdings in perpetuity
>>59608553bankman intensifies!
>>59608553which jewish tactic can i use to profit off of this
>>59608553when loans for Tulips ser
>>59608553>bitcoin loansYou know, I was half-joking before about BTC going to $0, but now it's not even funny anymore. The ponzi is going to collapse sooner than you think.
>>59608663Anytime now bobo
>>59608579Just be american and have enough BitcoinToo bad you are a pajeet with only shitcoins
>>59608663Imagine brian and frens naked shorting with yo bitgoyims :DI just loaded up 60k bitcoins for loaning to goybase, very bullish nuz! I am sure the brian wont sell it 1000times in a day.....
>>59608695see? the30iq maxiniggers dont get it! WE NEED MORE PAPER BITCOINS FAST UPLOAD YOUR WALLET TO GOYBASE FREE MONIEZ GOYS!MUMBAI!
>>59608718I trust Coinbase. It's an American company. If they go bankrupt my government will cover my losses.
>>59608742still dont get it? :DDDDDDDDDD HOLY KEK!CREEPTOES YAY I TRUST GOYIMBASE IAMCREEPTOWS! :D kek u nigger
>>59608764I don't speak ebonics can someone translate this?
In 2021 they said the same thing about never selling your BTC and just borrowing against it. Kinda smells like the reverse mortgage scam.Crypto advocates of that era like JF simply sold everything during this bull run instead of borrowing.
Uhhh ever heard of aave?
>>59609700literally who?
>>59609861>who?
Any Euroanons using NEXO? Is it legit? :( They were unaffected by the ftx/luna/celsius apocalypse.
>>59609736Defi is too complicated for us (2 digit IQ individuals) :(
So is the point to get people to take out loans against it causing you to pay interest then they tank the price and it's a double whammy for the sucker who took out the loan? I don't see this ending well in the long run.
>>59609933They are overcollateralized loans. If they do it well, there's no way for them to lose money. Basically AAVE but with higher fees to make a profit.
>>59608553is this new for mutts?
>>59609965Most of the CEFI companies that operated in America collapsed (celsius, blockfi, holdnaut...)
I lost a bunch of money doing this with Celsius and Bancor, is it different this time?
>>59608663Bitcoin will return to 0, it was never a joke. You seriously thought some computer code written up in 2009 will last forever?
>>59608773I hold contempt for people who do business with Coinbase.
>>59608553They already did this, but stopped from,getting rekt
>>59608553I’d like to buy against my galaxis hodlings one day, and soon
>>59609906Only trust chinkbase and coinbase
>>59610609Why do you hold such extreme views? Contempt is a strong word.
>>59608695I'm American, I have bitcoins, xrp, near and chainlink
>>59608553Could this be the begining of the end for coinbase anon?
>>59610654What is chinkbase? >>59610850I hope the near bag is your heaviest, that's the only make it pick
>>59608663>The ponzi is going to collapse sooner than you think.Yeah this is some pretty desperate shilling."How would YOU like to feel like a big hot shot banker? Now, people have to rent from YOU! Why have faith when you can believe in the future of technology where YOU are winner! Buy my bitcoin!"
>>59611058not really. now you can benefit from your gains without needing to pay taxes on them. unironically really great.
>>59608553How can I make the most of this news to attain financial freedom? Can I borrow and not pay back?!
>>59611029How do you see the ecosystem benefiting from the whole AI agent narrative?
>>59611067>now you can benefit from your gainsYeah...so should we all buy now? It just seems like someone is trying to sell something that will last...like, something that produces wealth...Not sure if I have any money left for it though, I already bought a bridge from a very trustworthy gentleman earlier.
>>59611082>Can I borrow and not pay back?!Yeah, what's preventing me from not paying it back? Is there a bitcoin government out there that will send agents to my domicile or something? Who's the muscle? Can't I just get a new wallet and borrow more with that?
hear me out now, what if we made some form of paper that could be exchanged for 1 bitcoin and some little metals that could be exchanged for sats so we don't need to use the blockchain cause of the fees? we could just give our paper to someone as payment
>>59611115>we could just give our paper to someone as paymentwhoa whoa whoa slow down there cowboy! Let's think this through: what would we do with all these computers then?
>>59611130we could use them to print more paper and tell people that they are actually backed 1:1 in bitcoin when in fact they won't but how would they even know am I right
>>59611082>>59611108It's an overcollateralized loan. I don't know their rates but usually you can borrow up to 50% or 75% of the value of your bitcoin.If you have 100k in btc, you could borrow 75k. If you don't pay them back, good for them. If you do pay them back, good for them too because they made money with the interest. They can't lose
>>59611172>75k75k in real money or in bitcoin?
>>59611092It's in the driving seat anon, already an AI focused chain so yeah expect different AI agents to come out from near
>>59611223I don't know what Coinbase will do, but other companies like Nexo give you the option of stablecoins or real money in your bank account.
>>59611271>option of stablecoins or real money in your bank account....so this is all still dependent on the value of bitcoin in USD? How does this make bitcoin not a ponzi scheme? Or does this transition bitcoin from being a ponzi scheme to being some kind of neo-loansharking where the actual rates you wind up paying fluctuate with market manipulation of bitcoins value in USD?
>>59611325You take a loan using your btc as collateral. If the value of btc goes up, good for you. If it starts to drop and your collateral doesn't cover the loan anymore, you will either have to pay it back or add more btc. Like aave but centralized.
>>59608553This is what the BTC has no use people fail to see, entire new branches of finance are going to spring up around Bitcoin. Its about to get crazy.
>>59611399>You take a loan using your btc as collateral.Ah okay. I do appreciate the explanation.This sounds like too much risk for me to want to invest in Coinbase if they're going to be issuing loans like this.
>>59608695Motherfucker thinks hes in a 70s sitcom.
>>59611325I have a working theory eventually large money orgs are going to establish certain floors for BTC so big price drops will be a thing of the past. Like ok, you have 100,000 BTC and want to unload them all. We will pay you a floor of 250k each for them. Thus preserving BTCs viability as a financial utility token.
>>59611455>certain floors for BTCI'd like to see a fundamental analysis of a crypto-mining company that clearly expresses the value of the bitcoin they mine in terms of cost (ie taking operational costs, interest on debt, etc).That would then make it clear what the break-even would have to be for anyone running such an operation, which could then provide like a price target that would make it an attractive investment, but this still could go tits up if people all of a sudden sour on buggy whips or pet rocks or bit coin.The problem with bitcoin is unregulated mining: but mining has also been the appeal for all the "poor" people who were trying to mine it and then get others to buy their computer's gymnastics in the first place.Without the premise that bitcoin is this edgy, smart-person, counter-culture, visionary, utopian thing that also conveniently rewards those who spend their parent's money or welfare checks on the electricity required to run the computer to mine it, it just seems to become Dave&Busters Cash or casino tokens, and why wouldn't a particular casino just use its own tokens? Or why wouldn't a particular bank just use its own token system along with a DEMONSTRABLY "FAIR" RANDOM number that determines if you have to pay back MORE or LESS of your loan? At this point, it functions like a slot machine, and those have to be regulated to be "fair" in being random. It's like a slot-machine/scratcher ticket for poor people to get loans...no one that makes 6 figures is going to be taking out a loan using a virtual currency as collateral, c'mon. You'll thus need to redesign the whole marketing of bitcoin to basically appeal to...niggers?
>>59611509>niggersHoly shit, just occurred to me...what about using CHAIN-link instead of bit coin? Like, cuz of the whole "slavery" thing? Or how they still like wearing "gold" chains and stuff? Or putting pitbulls on chains? Or how they have a really high incarceration rate?If you're going to pick a cryptocurrency to use for issuing unstable rate loans, Chainlink has a better name.Bitcoin sounds like BITCHcoin, as has been pointed out elsewhere, and I don't think niggers are too keen on that.They also have a propensity for buy-now pay later shit loans for cars and stuff, so they could definitely be a good customer base to target.It's like a whole new tax on poor people! Specifically niggers!
>>59611509>but this still could go tits up if people all of a sudden sour on buggy whips or pet rocks or bit coin.You still dont get it if you still associate BTC with pet rocks or tulip mania or any such other horseshit. I can memorize a certain phrase and intangibly carry a billion dollars anywhere on the planet without any 3rd party involvement or govt interdiction. No pet rock in the world can do that.
>>59611606>I can memorize a certain phrase and intangibly carry a billion dollars anywhere on the planet without any 3rd party involvement or govt interdictionNo you can't, you memorized a phrase that enables you to access a token which "could" be valued at a billion dollars...or it couldn't. People memorize swiss bank account numbers too, but then they can actually but REAL stuff in them. Bitcoin is utterly dependent on the same psychology that fads utilize: pet rocks were a fad, so were tulips, yada yada yada.If the value of bitcoin tanks, then your "memorized phrase" becomes worth nothing. So if it has any long term use, especially as a way for banks to squeeze more money out of suckers who get stupid non-fixed rate loans, it should be run more like slot machines are.It doesn't have to be bitcoin for that to work though. And personally I think Chainlink is a better sounding brand name that will work better for the demographic this utility would target. No joke on that btw. Taking advantage of poor stupid hopeful people is fine to do, the bit coin brand already does that, but it wearing off. Next on the ladder is niggers (they're right underneath middleclass NEETs or teenagers with disposable income)So yeah: I get the loan thing now. Let's target niggers. Bitcoin is out, chainlink is in.
>>59608553huh this is kind of like gold
>>59611885why can't you get a BTC loan?
>>59608553coinbase is running out of BTC and needs a way of accumulating without affecting the market
>>59611841>If the value of bitcoin tanks,Yea and if my aunt grows a dick she becomes my uncle. You sound like a retarded Schiffhead. How are those boomer rocks treating you?
Okay, I've been reading about what is going on, this deserves a thread but I'll just put it here.They're actually gonna use MORPHO. Coinbase will just be the UI. So this is bullish as hell for MORPHO. Currently sitting in the 128 position on market cap. This might be huge.
>>59611153Why not just use silver?
>>59612274Its crazy they have a $2000 spread on spot unless you do a limit order and they still lose money. Coinbase One is basically stage 2 of their scam.
Then you have to trust a third party with your BTC. I used BlockFi previously and got out just before it collapsed. Not trusting centralised platforms again.
>>59612274basically thisit reeks of>we're running out of bitcoins
>>59612274So they’re doing a fractional reserve scam?
>>59608553This is saylors end game btw. Billionaires don’t spend their own money, they spend borrowed money leveraging their assets.
>>59608553Still not leaving self-custody.
They're using MORPHO, something just like aave but for base. Coinbase is basically the UI which makes morpho bullish as fuck, you will be able to get USDC and you won't even have to bother about bridges or anything, basically what Sergey used to say with CCIP.
>>59613316yeah basically
>>59612282>Yea and if my aunt grows a dick she becomes my uncle...you realize they've been doing that, right? Like putting dicks and tits on things that didn't have them to begin with?Like, bit coin is a distributed computer program that "identifies" as a currency...It's the same bullshit so yes, bit coin can totally tank in value. And it probably will sooner than /biz realizes cuz biz is a bit out of touch with the public.That's why I'm saying: niggers and chainlink.Chainlink has got a great name! It's up there with FUBU, very nigger-friendly to say, you can dig into it when you shout at your friends about the "new" ride you just bought. Seriously, we need to push this now while we can, before crypto gets outed too hard. Make it into a skin-color thing, you know, like "Chainlink is for blacks" and "fight the power with Chainlink": and then if any white people try to tell them it's a scam and how they could be more fiscally responsible, they'll just call them racist or oppressor or white devil trying to keep them from getting rich off Chainlink.Chainlink is where it's at: niggers are the future, just ask any white woman.
