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/biz/ - Business & Finance

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7521491 No.7521491 [Reply] [Original]

What do you all think about the long term prospects of Salt?

>> No.7521580

Bought some at 3 usd and sold at 12, i think it will grow but not do a 10x in a couple og months
The whole 'cash out w/o cashing out' also sounds more like 'hey let me mortgage your bitcoin for you'

>> No.7521617

>>7521580
Being able to put a lean on your crypto does give it more value as an asset though and more legitimacy.

>> No.7521634

>>7521617
Sure but how many of the people that buy crypto like the idea of taking out loans on anything?

>> No.7521713

>>7521634
Theres a lot of people that margin trade, which is a type a loan. Theres people that dont want to sell their crypto at a loss right now but forgot to consider taxes, thats a good situation for taking out a loan against them. And the more mainstream it gets, the most people will use this sort of service.

>> No.7521729

>>7521580
It literally cannot go above $27.

>> No.7521765

>>7521729
They can change their evaluation of Salt since its their own coin. They did it before, which is why its at 27 now.

>> No.7521847

its kikery isnt it?

gimme your crypto ill give you money and you can buy back your crypto later

fucking pawn shop

>> No.7522005

>>7521847
Anti-kikery
Kikery is the credit score system, which tells people how good a Goy you are.

>> No.7522024

>>7521491
Long term- You'll get conned
Short term- You'll get conned

It's fucking Salt for fuck's sake a platform built for conartists

>> No.7522122

>>7522005
Yeah? Think about it. You give them 1.25 bitcoin worth of collateral and they hand you 1 bitcoin worth of fiat. Bitcoin goes up (because thats what 95% in the market believe) and becomes more expensive. You spend the money you borrowwed and then sell some of your collateral. Salt allows you to go long on bitcoin while having the cash in hand, sure, but its just an elaborate way to make you sell them bitcoin

>> No.7522268
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7522268

>>7522122
Then dont default on your loan.

>> No.7522313

>>7522268
arent salt basically shortselling bitcoin if you give them bitcoin and it drastically loses value and you need to give them more bitcoin otherwise you default because your collateral isnt worth as much fiat anymore

i think for this to work bitcoin would need to be stable like +-10% yearly, not 70% in a week

>> No.7522393

>>7522268
>dont default on your loan.
I don't think you realise how hard it is for the average faggot not to do this.

t. No debt no loans

>> No.7522749

Won't these guys have gone insolvent after the BTC crash? How will they be able to margin call the lenders? E.g. they lend out 15k cash with 1 bitcoin held in collateral when bitcoin was worth 16k. Bitcoin crashes to 8k. They now have a shortfall of 15k - 8k = 7k. How are they gonna get the money back from the borrowers (who are presumably gonna default and even if not it's a long process getting money back).

>> No.7522809

>>7522313
They aren't short selling it - they gain nothing whether it goes up or down. If it goes up, borrower wins. If it goes down, SALT gets the same amount of money back assuming the borrower doesn't default.

The whole platform is dumb as well - the token literally serves no purpose other than a roundabout way of paying off your loan.