Have you ever borrowed against your bitcoin to get goods or cash?
✅ Yes? Tell us what could have gone better!
❌ No? Tell us why!
✅ Yes12.5%
❌ No87.5%
24 votes \ poll ended
56 sats \ 0 replies \ @TNStacker 12 Jul
Nice try, Fed.
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53 sats \ 3 replies \ @DarthCoin 12 Jul
That is dumb and pushing people back to fiat and debt.
NEVER GO BACK TO DEBT!
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13 sats \ 0 replies \ @kristapsk 12 Jul
Debt can be useful sometimes. Fiat debt good, Bitcoin debt bad. Ok, fiat debt, if you know what you are doing, not all fiat debt, of course.
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13 sats \ 1 reply \ @lendasat OP 12 Jul
Lendasat is a bitcoin only product.
"A tool is only as good as the person using it"
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0 sats \ 0 replies \ @DarthCoin 12 Jul
We already know that bitcoin is limited.
The whole point of lending sats is broken in Bitcoinlandia because in the end one part will be in debt or totally rekt, but not forever.
Bitcoin brings a total change: it's a savings machine. For more you save, more purchasing power you will have for your saved sats.
So if I want to buy more stuff, I will just save and I will spend ONLY when is really needed.
Your system is broken because is based on a fiat mindset, on pure endless consumption, putting the user in forever debt.
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34 sats \ 1 reply \ @kristapsk 12 Jul
There are some use cases. For example, if you want to do some non-KYC small leverage few month long position on a BTC vs fiat, you can borrow stablecoins against BTC loan and then use them to purchase more BTC. Or you could borrow fiat for daily expenses against BTC loan instead of selling BTC, with hope that BTC will go up, and you will be able to give back loan cheaper. Most important is to look at non-KYC non-custodial platforms (2-of-3 or 3-of-4 multisig is ok, giving up custody of your sats isn't). Good platforms for these cases are lend.hodlhodl.com and debifi.com. There are some others, I just don't recall the names from my head right now.
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13 sats \ 0 replies \ @lendasat OP 12 Jul
Lendasat aims to make it as simple as paying a lightning invoice for instant bitcoin-collateralized loans.
To buy goods, groceries or get cash...
#602605
Learn more at https://www.lendasat.com
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34 sats \ 2 replies \ @grayruby 12 Jul
No, only to get more Bitcoin.
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33 sats \ 1 reply \ @lendasat OP 12 Jul
So.. yes?
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34 sats \ 0 replies \ @grayruby 12 Jul
Depends how you interpret a good. I did a small B2x loan on ledn.
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34 sats \ 0 replies \ @SatsMate 12 Jul
I have never, and I don't think I ever will. I feel very free being debt free.
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34 sats \ 1 reply \ @fed 12 Jul
👀
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13 sats \ 0 replies \ @lendasat OP 12 Jul
😂
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42 sats \ 8 replies \ @Bell_curve 12 Jul
I looked into Ledn but didn't pull the trigger.
I looked at Nexo but the interest rate is 19%
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34 sats \ 5 replies \ @grayruby 12 Jul
I used ledn for B2X loan before they rugged the Canadian plebs so they could buy a shitcoin fund.
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33 sats \ 4 replies \ @lendasat OP 12 Jul
Lendasat is building a non-custodial solution, with no counterparty risk.
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34 sats \ 3 replies \ @grayruby 12 Jul
Looking forward to learning more and trying out when the product is done.
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43 sats \ 2 replies \ @lendasat OP 12 Jul
You can read more and sign up for early access here: https://www.lendasat.com
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41 sats \ 1 reply \ @Bell_curve 12 Jul
Is there a minimum amount to borrow?
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33 sats \ 0 replies \ @lendasat OP 12 Jul
Probably something around 10usd worth of bitcoin
#602605
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13 sats \ 1 reply \ @lendasat OP 12 Jul
Thank you for your insight.
Our goal is to create the best user experience while offering an instant and non-custodial service.
A 19% interest rate seems quite high; a market-driven interest rate would likely be more reasonable.
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21 sats \ 0 replies \ @Bell_curve 12 Jul
90 day treasury yield as a benchmark
Regarding Nexo you can get a single digit interest rate if you stake some of their alt coins!!!
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21 sats \ 0 replies \ @BitcoinAbhi 12 Jul
Nice try, Fed
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