4 ms·

Aside from the brand name of Coinbase, this seems worse than similar offering from Nexo (nexo.io): - Coinbase APR is 8%, Nexo is 5.9% - Coinbase max loan is $

Aside from the brand name of Coinbase, this seems worse than similar offering from Nexo (nexo.io): - Coinbase APR is 8%, Nexo is 5.9% - Coinbase max loan is $20k, Nexo is $2 million I can see the appeal of borrowing against your bitcoin or other cryptocurrency, but I'm not sure if there's much value in borrowing $20k. If you're in a position to hold $60k bitcoin on Coinbase, do you really have a need for a 1 year bridge loan of $20k? At a rate only slightly better than a credit card?

vmception 6y ago
> If you're in a position to hold $60k bitcoin on Coinbase, do you really have a need for a 1 year bridge loan of $20k? At a rate only slightly better than a credit card? If the $60k of bitcoin on Coinbase was bought with a loan from Nexo because you have $100k of bitcoin on Nexo, then yes lol. Wrap that bitcoin in RenVM to use it on the Ethereum blockchain, maybe some renBTC liquidity pool is earning you more, or sell it on Mooniswap for something else that is earning more. YAM/yCRV staking anyone?
- ejanus 6y ago
  I need to tap your brain. I am trying to do something in this area. Can we chat privately?
  - vmception 6y ago
    put your email up in your profile for a few days
    - ejanus 6y ago
      Done
      - vmception 6y ago
        in your about section, I should say.
        ejanus 6y ago
        Yes
- swader999 6y ago
  Poor YAM
  - deleted 6y ago
    [deleted]
- rayuela 6y ago
  Your suggestion is to take this high interest loan to take a long position in a high risk high yield speculative investment in other cryto... wut? This is like telling people to buy cryto with their credit card....
  - vmception 6y ago
    it wasn't a suggestion or telling anyone to do anything, were you making a point? would you prefer a little disclaimer at the bottom to feel more comfortable? not all of us need that. make your own decisions. others want to know whats possible.
    - rayuela 6y ago
      Yeah my point was to be a disclaimer on your comment for what a stupid idea it is.
      - vmception 6y ago
        A lot of people know how to manage their risk on leveraged products, and bitcoin this decade has regulated financial products to make that practical Interest payments are deductible in many circumstances, borrowing against holdings do not cause taxes from selling the holdings, and in some circumstances capital losses can be converted to net operating losses deductible against income paid in both prior and future years, practically ensuring you get your money back if properly planned. (Carrybacks were removed in the 2017 tax reform law but restored in the CARES Act.) But I understand, calculated risks are only for people good at math.
        rayuela 6y ago
        Wow can't believe no one's thought of that before. How can you lose?!?!?! You do you Mr. 200IQ
        vmception 6y ago
        You can lose thats the point of socializing the losses and privatizing the gains Make your own choices
- grenoire 6y ago
  Daily reminder that leveraged investment strategies can and will blow up in your face...
  - vmception 6y ago
    daily reminder that non-accredited investors should be able to blow up in private equity too, because they can already blow up in worse ways so it doesn't make sense to shut them out of everything that has a chance of being professionally run
deleted 6y ago
[deleted]

vmception 6y ago

> If you're in a position to hold $60k bitcoin on Coinbase, do you really have a need for a 1 year bridge loan of $20k? At a rate only slightly better than a credit card? If the $60k of bitcoin on Coinbase was bought with a loan from Nexo because you have $100k of bitcoin on Nexo, then yes lol. Wrap that bitcoin in RenVM to use it on the Ethereum blockchain, maybe some renBTC liquidity pool is earning you more, or sell it on Mooniswap for something else that is earning more. YAM/yCRV staking anyone?

ejanus 6y ago
I need to tap your brain. I am trying to do something in this area. Can we chat privately?
- vmception 6y ago
  put your email up in your profile for a few days
  - ejanus 6y ago
    Done
    - vmception 6y ago
      in your about section, I should say.
      - ejanus 6y ago
        Yes
swader999 6y ago
Poor YAM
- deleted 6y ago
  [deleted]
rayuela 6y ago
Your suggestion is to take this high interest loan to take a long position in a high risk high yield speculative investment in other cryto... wut? This is like telling people to buy cryto with their credit card....
- vmception 6y ago
  it wasn't a suggestion or telling anyone to do anything, were you making a point? would you prefer a little disclaimer at the bottom to feel more comfortable? not all of us need that. make your own decisions. others want to know whats possible.
  - rayuela 6y ago
    Yeah my point was to be a disclaimer on your comment for what a stupid idea it is.
    - vmception 6y ago
      A lot of people know how to manage their risk on leveraged products, and bitcoin this decade has regulated financial products to make that practical Interest payments are deductible in many circumstances, borrowing against holdings do not cause taxes from selling the holdings, and in some circumstances capital losses can be converted to net operating losses deductible against income paid in both prior and future years, practically ensuring you get your money back if properly planned. (Carrybacks were removed in the 2017 tax reform law but restored in the CARES Act.) But I understand, calculated risks are only for people good at math.
      - rayuela 6y ago
        Wow can't believe no one's thought of that before. How can you lose?!?!?! You do you Mr. 200IQ
        vmception 6y ago
        You can lose thats the point of socializing the losses and privatizing the gains Make your own choices
grenoire 6y ago
Daily reminder that leveraged investment strategies can and will blow up in your face...
- vmception 6y ago
  daily reminder that non-accredited investors should be able to blow up in private equity too, because they can already blow up in worse ways so it doesn't make sense to shut them out of everything that has a chance of being professionally run

deleted 6y ago

[deleted]