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/biz/ - Business & Finance

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56667096 No.56667096 [Reply] [Original]

Hypothetically, what would be the implications of taking out a $100mm flash loan on USDT with no colleteral and going bancrupt?

>> No.56667397

bump

>> No.56667452

>>56667096
>open a bank account and put the minimum amount in $200 or $1k or whatever
>make sure it allows you to overdraft
>connect it to an exchange
>immediately wire over $500k then buy BTC and quickly put it on a ledger nano x
>you should already be on a plane to Dubai before the bank even realizes what happened

Not financial advice. Not legal advice

>> No.56667467

>>56667452
>do this 1000 times
Not financial advice. Not legal advice

>> No.56667503
File: 1.52 MB, 1920x1090, 1184351525419.png [View same] [iqdb] [saucenao] [google]
56667503

>>56667096
Why would you go bankrupt from taking a flash loan? From the fee? Huh?

>> No.56667515

>>56667503
There are no fees.
USDT gives out loans on 0% with no collateral.
Lets just say the 100mm USDT is just "not available" anymore.

>> No.56667537

>>56667515
Flash loans do have fees. And your flash loan wouldn't go through in the first place if you can't pay it back in the same transaction. This is how flash loans work anon.

>> No.56667544

>>56667537
Not institutional ones.

>> No.56667553

>>56667544
Then go take one and run away with the money. I bet you're smarter than the lenders.

>> No.56667561

>>56667553
What if someone already did?
What would be the implications?

>> No.56667563

>>56667467
To a certain extend you probably could do this but I think every exchange has a 24 hour withdrawal limit. You would just need to wrap up the entire operation within a few hours and board a plane out of the country that very same night

>> No.56667579
File: 15 KB, 598x287, tether.png [View same] [iqdb] [saucenao] [google]
56667579

Exhibit A

>> No.56667732

>>56667096
Crypto crash

>> No.56667749

>>56667732
So why are antagonists not doing it?
IF the state and banks are really anti-crypto as everyone states. Why is it not happening?

>> No.56667908

>>56667749
>muh crypto security concerns
>buy the crash
>inflation destroys fiat
>???
>profit

>> No.56667916

>>56667908
>buy the crash
Why buy if you could borrow on 100x margin?

>> No.56667922

>>56667916
The rest of the space.

>> No.56667934

>>56667922
>buying stuff
You see, the game was rigged from the start.
And now you are poor.