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10 sats \ 2 replies \ @Privilege 20 Feb 2023 \ on: Firefish - Bitcoin-backed loans bitcoin
If you use Bitcoin as collateral I think you don’t get what is Bitcoin a why is so important to self custody, if you would know in 10 years is a million per coin would you give to someone else just because you want to stack more with fiat generated by a loan against your Bitcoin? Unfortunately there is no free lunch, but you can always work a bit more maybe for only one year doing an extra job or overtime e keep stacking with the same result. I think is never a good idea having a loan using an asset that can drop 80% personal view.
High volatility is to be expected, but I don't think we're looking at another 80% drop now.
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Definitely not now, but from ATH anyway we are still tight to the stock market and we don’t know wen we are decoupling, let’s not forget that 2022 you got inverted bonds and -22% stock market, credit cart ATH vs saving ATL, there is a war and energy crises, we live as everything is fine quite in a bull market and if you seen the Nasdaq we far from a drop of even 40% can go 60 also 80. I haven’t seen people loosing jobs and I haven’t seen the housing bubble. Maybe we are going to have a soft landing but I don’t believe cause the FED is not able to rank the interest rate with all this debt. Don’t confuse me I’m accumulating as there is no tomorrow, but I have dry power. This is the shittest macro I ever seen I wound be surprised
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