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

thanks for sharing those details. I have wondered about loans on bitcoin but never used them. when the price comes down like this, they do start to look attractive.

Scoresby

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!

bitcoin

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Strike releases Bitcoin Line of Credit (BLOC)

BlokchainB

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 https://stacker.news/items/1261140/r/BlokchainB