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I was thinking about it for tax savings purposes (loan), but Bitcoin is getting so much valuable over time that it's not worth the custodial risk for me.
by xiphias2 6y ago
I was thinking about it for tax savings purposes (loan), but Bitcoin is getting so much valuable over time that it's not worth the custodial risk for me.
- companyhen 6y agoI personally haven't done it either, but am considering a $5-10k loan just to try it out. The 6-8%~ isn't worth it for the custodial risk to me as well.
- xiphias2 6y agoIt sounds fun, but when Bitcoin's price drops, you have to add more BTC to keep the margin safety on Blockfy. You need to pay 10% interest for loaning against 50% of your BTC. Of course BTC's price probably won't go under $20k ever again, but in March when it went from $8k to $4k for half an hour, a lot of us were surprised.