Here is the updated agreement (Section 3.K). ✅ We work with partners to facilitate the loan ✅ Your collateral is securely held in segregated wallets with us and partners ✅ Your collateral is NEVER rehypothecated, on-lent, or used in any other way Our goal is to offer the best possible terms and experience for Bitcoiners. We will continue to iterate with you all based on feedback. Next up, we plan to provide proof-of-reserves based lending. We work for you, #Bitcoin. Thanks for the feedback. We want to be the most customer focused company in the world. Built by Bitcoiners, for Bitcoiners. image View quoted note →

Replies (20)

Tim's avatar
Tim 1 year ago
lmfao some ppl will never be happy
It's also not uncommon for contracts to include provisions that grant powers to lenders where borrowers have little negotiating power to modify the terms of the agreement that the lender has no intention of utilizing but which lawyers will get for their clients anyway because they can. It's ordinary. View quoted note →
Unfortunately @jack mallers I used @strike to buy gift vouchers via the strike app and had issues with the voucher. Customer support was absolutely zero and I lost $59 because of this. This poor customer experience means I’ll not be using strike for loans or anything more than a lightning wallet.
Too many have BlockFi and Celsius nightmares to “trust” without 100% verifiable proof. Would a smart contract or HTLC be a solution to those concerned with collateral risk?
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Randomir 1 year ago
Speaking of debt - now you own him a favor for both of you.
Vdub's avatar
Vdub 1 year ago
Can a customer roll a loan over at maturity and just pay the interest?
Jack, you wouldn’t take a ‘trust me bro’ loan right? Neither should we. Need hard always verifiable proof or pass