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0 sats \ 3 replies \ @tolee 23 May \ on: Hodl Hodl has blocked access to its lending platform for users in the USA. alter_native
How does a platform called hodl get involved with lending? RIP more fiat garbage.
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10 sats \ 2 replies \ @kristapsk 24 May
It's directly related to hodling. When you need fiat for daily spending, instead of selling BTC, you take USDT loan against your BTC. Same strategy as super rich people like Elon Mask use - they don't sell their Tesla or whatever stock, they take USD loans against that stock.
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0 sats \ 1 reply \ @nullama 24 May
But how does it work, as in, they would have to pay that loan eventually.
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10 sats \ 0 replies \ @kristapsk 24 May
You bet on increase of BTC price, if it goes up in USD terms, you spend less BTC on paying back. Or you could get a new loan, to pay back USDT for the old one, without selling BTC.
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