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I had a nice windfall and some debt to pay. So instead of paying the debt off I used the windfall and a bit of my own stack to open a loan.
I took the loan and paid off some nagging installment debt I had but at the same time I paid on principal as well so this latest draw down (I opened the loan near all time highs) I didn’t get liquidated. Darth tried to dunk on me but I’m no fool!
Here is my post about it #1261140
Yeah it’s much better to open them in bear markets. But you need to post more bitcoin. Plus states have minimum loan amount. So let’s say you only need $5k well the state law can make you take out a $12k loan.
I think the BLOC can solve a lot of problems with people not wanting to sell bitcoin and don’t need a high dollar amount with term but yet need liquidity to live life and not sell to trigger a tax liability
If it's not prying too much, have you used their loan products to get more bitcoin or have you used it avoid selling bitcoin? (these may be the same thing in the long run, but I guess I'm asking whether it's a play to lever up on bitcoin or to do smart tax stuff)?