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This is very similar to what I'm currently doing, just borrowing against my Bitcoin holdings using MakerDAO, I have good liquidity on a day to day basis and my
by rawtxapp 6y ago
This is very similar to what I'm currently doing, just borrowing against my Bitcoin holdings using MakerDAO, I have good liquidity on a day to day basis and my Bitcoin is still appreciating.
- oillio 6y agoIs this a long term solution? Or do you plan on selling Bitcoin to pay back the loan when you think we are near the top?
- rawtxapp 6y agoAs long as there's no bugs in the smart contract, I don't plan on ever paying down that debt, since I expect the value of BTC to rise much faster than the value of my debt. My liquidation price is very low and if it were to reach that, it would mean a catastrophe anyways.
- throwawayForMe2 6y agoThe additional benefit here is with a loan there is no tax event, a major advantage over selling.