Imagine thinking old car loans is "defi"

[Anonymous No.20004002]

[Anonymous No.20004199]

>>20004002
actually it's pretty fucking based
but right tell me more about your 'defi' liquidity pools to trade shitcoins that do fucking nothing and people exit scam

[Anonymous No.20004294]

>>20004002
Imagine selling the bottom thinking that it's only old car loans

[Anonymous No.20004394]

>>20004002
Imagine being a total prick

[Anonymous No.20004457]

>>20004294
let him sell on bottom he is totally moron if he doens't understand whole system..

[Anonymous No.20004610]

can someone explain the whole system and what happens when they default on their crypto and car loans

[Anonymous No.20004628]

When will this hit $5?

[Anonymous No.20004729]

>>20004199
>>20004294
>>20004394
>>20004457
>broken english
>defensive posts all in a row
>still acting like this is currently backed by anything other than used cars

[Anonymous No.20004836]

>>20004394
truth hurts sometimes and pricks you, deal with it

[Anonymous No.20005013]

>>20004729
>>broken english

I only speak British English.. m8

I don't feel the need to prove myself but if it makes you look a little stupid then it's worth it.

I also have British Passport, which is something you will be lucky to ever see let alone own.

I'm balls deep in DMG

[Anonymous No.20005166]

>>20005013
>I have british passport sir
>GMT+2 eastern euro trash
k

[Anonymous No.20005189]

>>20005013
you're the only one of them that's not an obvious shitskin don't you notice?

[Anonymous No.20005213]

you guys are guaranteed getting scammed, they are overvaluing old cars to get loans and will default and sell those cars at their real price, leaving loaners without money.

Ask yourself, if someone approached you with this scheme irl, would you do it? But they slapped Defi and Smart Contract on it, and suddenly it's "legit".

[Anonymous No.20005312]

>>20004002
the value they're using is a standard value index accross the USA
loan total is less than car value
this is just the first version of a project to connect DeFi to real world assets
project has 1st move advantage
this is the first DeFi bank and it has an ex-CIA agent at its head
do the math, you braindead faggot

[Anonymous No.20005333]

>>20004002
Imagine not liking making money and gainz b/c you don't think something is "DeFi" enough

[Anonymous No.20005338]

>>20005312
epic bagholder cope

[Anonymous No.20005339]

>>20005166
>GMT+2 eastern euro trash

Actually mate it's GMT +1 in London right now
Which means you know what country sits in GMT +2 right now? I'll give you a clue it's a Western European country that starts with an S

Learn to tell the time before calling me out as a Eastern European.

[Anonymous No.20005351]

>>20005166
GMT +2 is Western Europe daylight saving time (Amsterdam, Paris, Madrid, Rome, Berlin etc).

[Anonymous No.20005387]

We're living rent free boys

[Anonymous No.20005430]

i’ll be honest, the dmg fud is hilarious. i fudded it too for the keks

[Anonymous No.20005450]

>>20005213
>>20005312
>loan total is less than car value
Yeah but you need to be able to sell the car. Who's going to pay the costs for getting it sold? You need infrastructure and sales for that.
>and it has an ex-CIA agent at its head
lmao

[Anonymous No.20005452]

>>20005338
eurozone passport
deployed to foreign country
DMG high roller
do the math

[Anonymous No.20005505]

>so insecure in their investment that they seek for confirmation from anonymous people by posting their passports and hands on a cambodian pot making fediverse node

[Anonymous No.20005515]

You stole my fucking image cunt

[Anonymous No.20005531]

>>20005213
you obviously have no idea how finance works. they own the debt on those assets anon. they aren't involved in valuing...or overvaluing as you say.... old cars. it's a collection of loans that people are paying, owned by this project. when you go to the bank and take out a loan, you pay them back at interest....doesn't matter what the fuck you bought with that money, old car, new house, hookers and blow, that debt is still the banks wealth.

[Anonymous No.20005548]

>>20005505
now you, in comparison, would need to fire up photoshop, balance the colors a bit, and do a few more things before posting passport, wouldn't you ?

[Anonymous No.20005560]

>>20005548
The only thing I'd fire up photoshop for is to put a dick in your mouth
oh wait I don't need to

[Anonymous No.20005563]

>>20005213
This this this

[Anonymous No.20005606]

>>20005213
what part of "overcollateralized" is failing to penetrate your thick skull ?

[Anonymous No.20005626]

>>20005606
he doesn't know what that term means anon....he doesn't know what any of this means.

[Anonymous No.20005690]

>>20005606
>>20005626
see >>20005450

I will bet that the real value + sales costs of those cars will not cover the loan
Who is paying for the sales costs anyway? Who is storing the cars? Is this at all guaranteed in some sort of contract, the actual sale?

[Anonymous No.20005755]

>>20005690
you can bet all you want bitch
we all bet
right now, I'm winning
and you're losing
you are getting thaught a very expensive lesson in unrealized gains, anon
let that lesson sink in
meditate on that

[Anonymous No.20005774]

>>20005755
>you are getting thaught a very expensive lesson in unrealized gains, anon
no u

[Anonymous No.20006064]

default rates are up, and car prices are going to tank, these loans are obviously worth a fraction of face value

[Anonymous No.20006341]

>>20006064
https://www.theglobeandmail.com/business/international-business/us-business/article-used-car-market-thriving-in-the-coronavirus-economy/

[Anonymous No.20006396]

>>20006064
What is breaking cars

[Anonymous No.20006424]

>>20006341
>https://www.theglobeandmail.com/business/international-business/us-business/article-used-car-market-thriving-in-the-coronavirus-economy/

used car prices fell 11% in april, didn't fully recover that in may. when all these rental cars hit the market, what do you think is going to happen to prices?

[Anonymous No.20006510]

>>20005690
I honestly have no idea what you're talking about. you are suggesting that DMG would have to sell and store cars on defaulted loans? not sure where you made that leap in logic, but it's retarded. they would just sell the debt to someone else. its a banking function anon, not a bounty hunting service...

[Anonymous No.20006565]

>>20006424
and? DMG doesn't sell used cars retard. just admit you have no idea what this project is or does....if you ask the right questions then maybe smart anons will spoon feed

[Anonymous No.20006688]

>>20006424
Your question is irrelevant but also stupid. I work for the largest wholesaler of used cars in the EU and the demand is only increasing faggot

[Anonymous No.20006720]

>>20006565

doesn't matter if they sell cars, the question is the value of the assets backing the loans, and the loans themselves are shit.

it's the same fucking thing that happened with the housing bubble. banks thought, oh, if someone doesn't pay their mortgage it's no big deal, because we'll just take the house back and sell it, probably for a profit. the reality is when they took the house back, there was no market to sell into, which made the loans themselves bad.

[Anonymous No.20006931]

>>20006720
anon, if you have a car that you still owe a few thousands dollars on whose underlying value is no longer even worth what you still owe on it....it doesn't fucking matter. have you never personally been in that situation? desu, most used car owners are probably in that situation. it doesn't matter. you still make the payments because you still owe the money. once it's paid off, then you move on. nobodies out there declaring bankruptcy because of a used car loan..... you are comparing apples to oranges with the housing bubble.
if DMG (or any bank) has a used car load that isn't getting paid....they just sell that debt to someone else to deal with, cause it's not worth it to follow up anymore for that amount of money.

[Anonymous No.20007051]

>>20006720
This is exactly right. DMM creates an outlet for financial institutions to offload loans that they think might not get repaid for cash.

[Anonymous No.20007234]

Overcollaterozed loans are a literal bubble

[Anonymous No.20007268]

NONE OF THIS DISCUSSION ABOUT LOANS MATTERS.

THEY HAVE CHOSEN DMG TO SUCCEED JUST LIKE THEY CHOSE LINK.

BUY NOW OR MISS THE $1b MC RUN

[Anonymous No.20007415]

>>20007268
Kek