/biz/ - Business & Finance

>>30338330
Don't?

>>30338330
what happened to the loan...?

>>30338453
I bought more link with it

>>30338330
what if you just don't pay it, will they send the crypto police to you? lmao it's just internet money it doesn't count

stop talking about bridges if you don’t get how they are working
this hypebus wouldn’t work on /biz/
go tell about this shit on FB or TWITTER lil retard
my bros not a retards , we hold and farm on julswap

>>30338330
Thats the fun part about debt, you cant ever afford to pay it back. Those link you bought with the debt arent yours and if they went down in value now you lost even more of the link you already had. Cut your losses and stop trading.

>>30338556
I can't imagine going through the trouble to make 4chan bot and then feeding this retarded gibberish into it

>>30338519
Never really understood these lending dapps either... what's stopping you from defaulting on a loan?

>>30338654
Collateral

>>30338330
AAVE is gave $50k to a pizzaboy? No wonder it's dipping. What kind of a process do you have to go through to get that?

>>30338670
But the collateral is less than the value of the loan?

>>30338688
What do they care whom they liquidate? King Stani replaced King Arthur. Did you leverage up yet?

Use part of your loan to pay the interest. Hopefully you have investments that'll moon.

What Coin you guys are talking about?

I just found a gem! real use case, new technology, growing like crazy!
https://mochimo.org/

Plz share with me more good projects.

What the fuck lol

>>30338740
Never, it can always be unraveled through liquidation.

>>30338740
No it isn't. You have to overcollaterallize on AAVE. The loan is only worth a fraction of the collateral.

>>30338519
I would lose my collateral

>>30338330
You messed up so just take out another loan, invest in IOTA, and you will have 100x that loan by EOY probably.

>buy a nice new ledger and 100 dollars worth of eth as a gift for my brother's wedding, tell him to just forget about it for 10 years and maybe he'll have a nice surprise for his kids etc, who knows
>send the eth to his wallet
>next few days bro sends me multiple texts telling me he's so worried because now his ledger balance is negative and worth - $100 and he has loan sharks from the ERC Foundation constantly hounding him to pay for the unpaid gas fees
How fucked is he?

>>30338740
How would that work you retard? Do you think they give you free money?

>>30338831
See him in kleros court
Heh nothing personal kid

>>30338654
>>30338688
fucking niggers, can't you take 10min to read how it works? everything has to be spoonfed to you braindead fucking sluts?
the absolute state of this board

>>30338881
There are actually a few projects attempting uncollateralized loans on the blockchain by reputation. May or may not work, my bet is no, as its ultimately usury which relies on the force of repo.

>>30338944
who would be dumb enough to look up crypt+loan in the same sentence? definitely OP

>>30338488
HAHAHAHHAHAHAHHAHA

>>30338330
whats your collateral anon another fugazi coin? shits not even real bro kek. sorry to hear that

>>30338488
Then sell half of the link when it goes to $60.

>>30339221
Thats good if it doesnt go down and liquidate first

Imagine not knowing how aave works in 2021

>>30338654
>>30338400
>>30338519
Crypto loans are overcollateralized. So OP probably put in 70-100k worth of BTC/ETH/Whatever to receive that loan in USDT

>>30339354
loaning money always means toi pay more than he loaned. So should just consider it a loss.

>>30338519
Ppl like you are just ngmi LMAO, thinking that u can just get crypto loans with no collateral hahahahaha

>>30339494
>giving money for someone to lend you money

LMAO AHAHA GLAD I AM NOT THIS DUMB

>>30338519
you trolls need to try harder. even pajeets dont fall for bait like this

>>30339531
Based
>>30339494
>>30339332
Imagine caring about or ever considering borrowing money. Even collateralized lending is bordering on usury especially when they control the oracle.

>>30339531
Yes like he said you're NGMI, you just dont understand how any of this shit works lmfao

>>30338740
HAHAHAHAHAHHAHAHAHAHAHHAA

weeeeew I'm going to copy this for future retard trolling

>>30339598
>TAKE OUR LOANS ITS A FAIR VARIABLE RATE INTEREST THAT WE CONTROL TO MAKE SURE AS YOU PAY IT OFF FASTER YOU PAY MORE AND INTENTIONALLY RUIN MARKET MAKING ON OUR EXCHANGE/ORACLE AND GET FREQUENTLY HACKED. YOU NEED OUR MONEY. YOU NEED LEVERAGE.

what's the point overcollateralized loans

>>30338330
Lmao

>>30338761
>Use part of your loan to pay the interest. Hopefully you have investments that'll moon.
This is the exact point of these things no?
And when the collateral appreciates you just refi into a new loan.

>>30339669
to have even more money to play with, but I admit its very fuckign stupid

>>30338330
Wait for the fiat bubble to burst/inflation to hit the sky.

>>30339994
GRT 10$ EOM for luck

>>30339669
>what's the point overcollateralized loans
Its basically the defi version of pawn shop, pawn will give you pennies on the dollar for your grandpas rolex...
There is no point except desperate and degenerate people will risk something important/valuable for a fraction of its worth to get liquid cash and have an opportunity to get the thing back if they pay the loan...
So like a major move has been people loaning link to aave, taking the proceeds and buying more link, when price go up, sell, pay off loan, pocket difference.

>>30339669
Reducing risk of liquidations retard

>>30338817
how much is your collateral?

>>30340135
I see, that makes sense. thank you

>>30340199
150k

Guys aave is ay my door again they sound like they mean business this time

>>30340749
oh shit

>>30340135
If the loan was large enough, you could take fiat and pump your stock portfolio to the ceiling. The idea would be to earn enough dividends to pay back the loan and pay yourself some sweet passive income.

>>30339669
You're not taxed on the loan. It's the only way to "cash out". If btc does become the world reserve you never fucking sell it you just take loans out against it like property if you need to free up some cash flow

>>30339221
I should just keep buying more link with my wagecuck salary now right?

>>30342377
Look into the sLINK pool on CRV, note not with your entire stack. It may earn you back your lost LINK after you close your leverage. Just imo

you take out real life loan to pay out chucky cheese loan so you can then get your chucky cheese tokens back to pay out real life loan

>>30343685
I doubt any banks would be willing to loan 50k to a pizza boy

>>30344132
with insane interest maybe someone will but you will have to pay it out immediately or you will slave your life away to pay it back