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I don’t mean this in a rude way, but do you have Ferrari money? Traditional financial institutions work VERY differently for the kind of people who do compared

I don’t mean this in a rude way, but do you have Ferrari money? Traditional financial institutions work VERY differently for the kind of people who do compared to the average person.

TrapLord_Rhodo 3y ago
Look into a crypto lending/ yield pool. You'll understand what he's saying because it's nothing like "Traditional Finance". Traditional Securities-based lending does not have a "base oracle" like crypto does, and the lenders get to determine the spread. The margin limits, the rates, the transparency, all much better in a crypto yield pool. But you obviously run the base risk of a defi exchange getting hacked, which you are not covered for like you are in traditional finance. (There is some interesting crypto insurance products tho)
yieldcrv 3y ago
liquidity is liquidity, Ferrari decided to recognize a lot of people don't care what traditional financial institutions do not sure the point of wanting to play devil's advocate to the points made here, there are already people actively using the parallel payment systems and Ferrari is catering to that, its no longer about convincing someone comfortable in the traditional finance system to learn about crypto the crypto ecosystem has its own ways of doing everything... at all tiers. there are no tiers of wealth or needing to revisit relationships with banks now that you have money. so they're already familiar with the quick lending if they want to use that. some people are well integrated in a system where you don’t have to start a question with “I don't mean this in a rude way, but do you have enough money for this to be convenient”
throwysnowy 3y ago
A lot of people with Ferrari money have their net worth tied up in investments like stocks, bonds, real estate and maybe even Bitcoin. Bitcoin is a very liquid asset, buying a Ferrari with it would be nearly instant.

I don’t mean this in a rude way, but do you have Ferrari money? Traditional financial institutions work VERY differently for the kind of people who do compared to the average person.

TrapLord_Rhodo 3y ago

Look into a crypto lending/ yield pool. You'll understand what he's saying because it's nothing like "Traditional Finance". Traditional Securities-based lending does not have a "base oracle" like crypto does, and the lenders get to determine the spread. The margin limits, the rates, the transparency, all much better in a crypto yield pool. But you obviously run the base risk of a defi exchange getting hacked, which you are not covered for like you are in traditional finance. (There is some interesting crypto insurance products tho)

yieldcrv 3y ago

liquidity is liquidity, Ferrari decided to recognize a lot of people don't care what traditional financial institutions do not sure the point of wanting to play devil's advocate to the points made here, there are already people actively using the parallel payment systems and Ferrari is catering to that, its no longer about convincing someone comfortable in the traditional finance system to learn about crypto the crypto ecosystem has its own ways of doing everything... at all tiers. there are no tiers of wealth or needing to revisit relationships with banks now that you have money. so they're already familiar with the quick lending if they want to use that. some people are well integrated in a system where you don’t have to start a question with “I don't mean this in a rude way, but do you have enough money for this to be convenient”

throwysnowy 3y ago

A lot of people with Ferrari money have their net worth tied up in investments like stocks, bonds, real estate and maybe even Bitcoin. Bitcoin is a very liquid asset, buying a Ferrari with it would be nearly instant.