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/biz/ - Business & Finance

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8070100 No.8070100 [Reply] [Original]

>lending platform values 1 SALT at $27.50
>it's currently being traded for $4
so SALT is a scam right? Is there an other reason for this price discrepancy?

>> No.8070265

>>8070100
Well, it might not be a scam per se, but current price doesn't spell bright future for the company.

Because you can pay loans (principal + interest) with tokens at retail price, they are bleeding money and if token price doesn't hit $20 minimum, the company might change that token redemption bonus at any time, which will render the token useless until Proof of Access comes. I can't really say how things will play out in the future, but the company is hellbent on slowly accumulating all the tokens back they gave on their ICO sale. That way, no secondary market price will be available and they will sell their tokens exclusively with retail value.

Also, sneakily, the tokens might actually be useful when the altcoin collaterals come. Some guy on plebbit pointed out that SALT tokens staked as collateral will be always priced at retail value. It won't matter if market crashes and you won't have to add more funds to collateral, which is kinda cool.

>> No.8070288

easiest x9 of my life

>> No.8070351

The SEC is about to fuck them so hard

>> No.8070388

>>8070351
This is probably true

>> No.8070856

>>8070100
all i know is i got a ledger nano S from them for $20. Then they sent me another one for some inexplicable reason.

>> No.8071456

best lending platform is RCN

>> No.8071483

The platform is not working at the moment. When it is working that is the price they will sell salt tokens for.

>> No.8071515
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8071515

>> No.8071658

>>8070265
I thought you could only pay interest with the $27.50 valued SALT tokens.

>> No.8071710
File: 201 KB, 780x438, 854081161001_1913171491001_101912-fbn-teeka.jpg [View same] [iqdb] [saucenao] [google]
8071710

>>8070100
Salt
Buy up to: $25
Stop Loss: N O N E

AION
Buy up to: $10
Stop Loss: N O N E

>> No.8071740

>>8071710

did this Pajeet actually recommended these shits ?

I couldn't imagine the pitchfork happening soon

>> No.8071807
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8071807

>>8071740
You should have seen his Bitcoin Cash recommendations.

>> No.8071944

>>8071740
I'm pretty sure some of his boomers are getting impatient and subscribers are dwindling
most of them probably also bought cnd/gto high and are bleeding heavily now, his zencash call wasn't anything special either, no price action after months

>> No.8071957

>>8070100
I bought SALT around $2 and sold around ~$16.

Let me explain what happened and why I sold.

They promised us a decentralized lending platform. They basically lied to us and released a platform that operated like a normal centralized lending platform with a token to facilitate it. Which is absolutely shit compared to their original promise of a decentralized lending platform.

This has made me personally check out of this project for ideological and practical reasons. And I guess a lot of people did this as it's only worth $4 right now.

If they ever proof that they are actually working towards a decentralized lending platform then I might buy back in again. But they lied once so I won't trust them on their words. Glad I at least profited from them.

>> No.8072039

>>8071957
Do you think RCN is a good alternative ?

>> No.8072361

>>8072039
If they actually deliver on what they are promising, yes. However SALT has left me with a sour taste in my mouth. So unless RCN actually proof that they have a decentralized solution to lending don't invest in them as they could pull the same trick as SALT.

I would still trust them over SALT though as SALT already proved themselves to be untrustworthy.

>> No.8072442

I have like 5 SALT left over from way back in December. Is it worth just locking them away and forgetting about them on the off chance token price skyrockets, or should I just dump them and throw the $20 into some other BS?

>> No.8072744

>>8072039
dude
there's no comparison.
SALT is tax avoidance platform.
no one is going to legit borrow and pay back
they'll just forfeit the collateral and move on.

RCN on the other hand has much more going on for it. co-signers, BLOOM (KYC) it's all coming together very smoothly

>> No.8072854

>>8071456
You misspelled MKR

>> No.8073042

What the hell is up with LEND? It seems extremely undervalued given it fucking works.

>> No.8073070

Im down like 60% on this shitcoin
Thank you based teeka!

>> No.8073776
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8073776

all alts are bleeding bois, it's true that SALT's business model doesn't help but they can easily stop accepting salt as a payment method and increase the membership cost.

The important thing here is SALT is a working platform with real life use case, name just 1 from thousands of shitcoins that have these 2 things.

>> No.8074802

>>8072854
Ripio
Credit
Network

does /biz/ believe in signs? omens?
i was google mapping a destination in Manhattan and guess what building was across the street from the address i was looking up? RCN!
LOL
it has nothing to do with Ripio but the building across from has an RCN tag. BULLISH!!!!!!
inb4
>blood sacrifice

>> No.8075634

The arbitrage gap will close. Anyone interested can find the reasoning on the SALT reddit or their telegram.

SALT has 1.3 billion in loan request. There's ENORMOUS demand for this, and as they learn to automate the lending process the discrepancy between given loans and requested will close. In three months I believe we will see for sure the direction SALT will take. If they pull it together then SALT will be huge. The competitors don't come close.

>> No.8075832

>>8070100
This coin was obviously manipulated as shit by huge whales who wanted to cash out without paying taxes. It's too bad that crypto investors are so retarded and just let them have cheap loans because the market should have been charging near $27 without a problem if this were stocks or any other traditional market.

>> No.8075946

>>8075832

This will be one reason SALT explodes. Paying taxes without leaving crypto.

>> No.8076099

>>8075634
>SALT has 1.3 billion in loan request.
Any source on that? If that's true I'll definitely start adding some SALT to my portfolio.

>> No.8076201

>>8076099
I'm subscribed to their mailing list and found out their. It should be on their blog or social media channels.

>> No.8076214

>>8076099

Look at their Reddit, sir.

Worth mentioning is they are approving loans again. In the past 9 days they've issued 9 million more in loans.