You know what's gonna happen is big legacy banks will get into the game and start offering collateralized loans, "just give us your Bitcoin, our custody is the strongest, and our terms are better than those scammers in the industry". They know a certain percentage of people will default on loans, and after some time they end up with a huge stack, rehypothecating and playing their usual dirty games. There is only one way in hell I would consider a Bitcoin-backed loan from anywhere, and it would be under these terms:
2 of 4 multisig. I hold 3 keys. (F* U Dimon)
5% LTV loan.
2% or less, fixed-rate.
AlejandroHODL / AlejandroHODL ⚡ 🧡 ☮️ 🧘🏻
npub185…yasry
2024-07-23 18:52:33
in reply to nevent1q…6gga
Author Public Key
npub18576m757fr0vwukvkqrh490c80lfshy0hucvrvql095lswzrm20qnyasryPublished at
2024-07-23 18:52:33Event JSON
{
"id": "8bee05c6f020a777d57955d1b416490c2bd25fa2d8b40f246684bbeb1c969dfd",
"pubkey": "3d3dadfa9e48dec772ccb0077a95f83bfe985c8fbf30c1b01f7969f83843da9e",
"created_at": 1721760753,
"kind": 1,
"tags": [
[
"e",
"709975b026c089bb23296310ac93e9a3eacc61d7c6745cb3719f557b01007497",
"",
"reply"
],
[
"p",
"3d3dadfa9e48dec772ccb0077a95f83bfe985c8fbf30c1b01f7969f83843da9e"
]
],
"content": "You know what's gonna happen is big legacy banks will get into the game and start offering collateralized loans, \"just give us your Bitcoin, our custody is the strongest, and our terms are better than those scammers in the industry\". They know a certain percentage of people will default on loans, and after some time they end up with a huge stack, rehypothecating and playing their usual dirty games. There is only one way in hell I would consider a Bitcoin-backed loan from anywhere, and it would be under these terms:\n\n2 of 4 multisig. I hold 3 keys. (F* U Dimon)\n5% LTV loan.\n2% or less, fixed-rate.",
"sig": "a792501f86ca735b89c75444e8f6085b6cb8a311adb130305be4f20caf79d40f9ea90771e76813db647995eef38d170e699b4d1e60110f1a61489f42dfda2db2"
}