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I borrowed against my crypto for USD/USDC and used it to buy a MacBook and pay my tuition. The underlying coins appreciated and earned interest in addition to n
by throwheartaway 5y ago
I borrowed against my crypto for USD/USDC and used it to buy a MacBook and pay my tuition. The underlying coins appreciated and earned interest in addition to negative APR (this is all programmatic; the contract will give the best interest rate the market supports) on the loan itself, so I ended up paying back less than I put in.
Keep in mind: I am not in any way rich and paying out of pocket or taking a loan would have strained both me and my parents.
- lumost 5y agoYou could borrow against a house in '08 or against tulips in 1634. If it's the rising side of the market, you'll make a killing doing this. If it's the opposite side, then your collateral will vanish. Whether vanishing collateral matters to you depends a great deal on the nature of the debt you took out and what you spent the loan on.
- efdee 5y agoOf course I'm happy that you were able to profit from it, but nothing you just said answers my question or refutes the fact that it is a bubble.