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11 sats \ 0 replies \ @freetx OP 8h \ parent \ on: The Apex Predator of Collateral bitcoin
Thats a great question, I don't know the answer, the obvious 2 possibilities are (a) Lender keeps it, or (b) You keep it.
I suppose it all boils down to, what is the Lenders true motivation? If he is really just focused on being a traditional fiat lender (with BTC collateral option), then perhaps the borrower keeps the overage. (ie. Once the loan is satisfied the borrower keeps all assets he purchased with the loan).
However, if the Lenders true motivation is to stack sats, then he would keep it. (In this case, the theory would be the Lender "had claim" to the Bitcoin since it was a collateral asset and he winds up taking control in exchange for property release).
Nope. Its a mortgage. You just keep paying your normal mortgage.
By the way, just to clarify, you didn't put up that 1 BTC....the lender bought it.
I liked WhatBitcoinDid for a long time as I found it to be nice balance between tech and socio-economic.
I still probably will like it, but I think he changed the name or something as I no longer see it.
Semi-correct but low self-esteem take:
- you put up your signature.
- banker conjures worthless money
- banker puts x% of worthless money into bitcoin
- when bitcoin goes up, banker cancels your loan and you keep house
High self-esteem take:
- Let dumb bankers pay off their own trash-money loan and keep free house.
People will NEVER learn the lessons from FTX, BlockFi, Nexo, Crypto etc all those scams promising high returns from loans backed with your BTC.
You are misunderstanding how the loan works. Its not "your" btc. You didn't put up anything....you are free to go get a traditional mortgage and pay it off.
If, however you are bullish on bitcoin AND need a loan for a house, this option allows you to get a house in far less time than it normally takes.
Thats the great thing about freedom, some people (who are bullish on bitcoin) can get a a paid off house after just 4 years of mortgage payments.....people who are not bullish on bitcoin can get a traditional loan and pay theirs off over 30 years.
Its a nonsensical question in a way.....Bitcoin is my savings account....its like asking "Once your savings hits X what are you going to do?".....ummm...keep it?
I actively dislike google, I try not to use any of their products....
but when you've reached the point that the gov is trying to meddle in the web-browser market, mandating who can build browsers and what 'services' those browsers can offer....thats pretty much peak late-stage commie....
Nostalgia and a sense that both the bird and the dog are beautiful.
As an aside, I think most of the sadness / anger / angst that people have towards hunting is misplaced. I understand that they are being compassionate and I fully understand (and respect) that they love animals......however that bird had a great life and painless death.
The real horror is modern factory farming....cages where chickens are born into the cage, pumped full of food, and then mechanically dismembered....all while never being free or even seeing the sky. Yet we don't "feel sad" when we see the packaged meat at the store.....
I was born in the early 70s....at a time when everyone smoked and generally drank too much. We would ride in cars and people would smoke with the windows rolled up.....we rode in the back of flat bed pickup trucks....it was at a time where "working out" was alien and foreign concept.
The odd thing is we never perceived any of those things as being especially "dangerous", it was just how it was.
I was talking to my sister about this recently and I remarked that probably in 30 years our kids will be saying "....you can't believe it, our parents used to give use cell phones when we were 5 years old and let us stare at them for hours!"
These terms are a little mind bending.
- 0% interest that doesn't mature until 2029
- Convertible to shares at a approximate price of $650 per share (thats 55% higher price than today).
Obviously the bet is that if bitcoin zooms, then it will push MSTR price much higher than the $650 conversion price. Therefore this will be like purchasing at a discount.....
Happiness only comes in very small doses. The chocolate chip cookie after dinner, the good meal, the fun night with friends/loved ones.
Searching for happiness or trying to engineer it is basically impossible and will often lead to the opposite. Happiness is just "happened upon".
Contentment on the other hand can be achieved. Primarily it has to do with learning how to curb your desires and regularly reminding yourself to be appreciative of where you are in life at any given moment.
One good thing about getting older is that Contentment seems to be easier to achieve. When I look back at my 20s I largely see it as a fairly negative time period....don't get me wrong I had lots of fun and made lots of great friends....but overall I wasn't content and felt fairly desperate all the time.
I would say it is much more likely he did one of the 3 things than not.
Why didn't the DOJ prosecute then?
It seems that a DOJ that was prosecuting old ladies for walking thru the capital and pushing for numerous bogus lawsuits against an ex-president would've jumped at the opportunity to take him out if there was any validity there....
"the problem of evil" is a well-known philosophical / theological argument.
In short, the normal explanation is "because you have free will". This is to say that God does not create evil, rather man creates it of his own free will.
There are some gaps with that argument (ie. why would an 8 yr old get cancer, there is no free will there). However this presumes that death itself is "evil", which could be argued against.
Buc-ees is an insane idea on paper that when you see in person you realize how great it is. Their strategic placement (between 2 major cities in TX) make them ideal stopping places when doing road trips.
When UK colleagues come to visit I like taking them to Buc-ees....I always downplay it....like "yeah I think I'm going to stop and get some gas at this place up here"
For reference the average "petrol station" in the UK has 2-4 pumps and 1000sq/ft store attached. For them to see 120+ pumps and a 50000sq/ft "convenience store" freaks them out a bit....
172 sats \ 2 replies \ @freetx OP 20 Nov \ parent \ on: Lummis Bitcoin Strategic Reserve Details bitcoin
Yes, reading the bill the idea is that after 20 years the SBR could sell up to 10% per year.
However I think that is a naive take....I think by the time we reach that point, the SBR would better be used a collateral for fiat loans. Or possibly better, is US Treasury issues "redemption certificates" using SBR as backing. We could wind up with a situation where US Treasury starts issuing its own money again, backed by SBR. (This is probably unlikely, but theoretically possible).
As an aside, Texas currently has a state Gold Depository bank. The idea is you deposit gold into Texas State controlled vaults and they issue you a "redemption certificate" for you to come redeem the physical gold at a later time. Clearly the idea was constructed with the idea that Texas State could become a "currency issuer" of sorts if people were to trade the certificates.....
A similar thing could happen via US Treasury / SBR.
34 sats \ 4 replies \ @freetx OP 20 Nov \ parent \ on: Lummis Bitcoin Strategic Reserve Details bitcoin
200k a month
200k per year, but yes that amount would be "in addition to" whatever holdings other government agencies have or acquire.
Further, the goal is to get states to contribute their holdings via segregated accounts (basically .gov becomes coinbase custodians for states).