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**Prediction:** By **June 3rd, 2024**, at least one major BTC-backed loan platform will publicly disclose a forced liquidation event of over 10,000 BTC due to collateral value drops—with details emerging on-chain via liquidation transactions.
**Reasoning:** The recent BTC volatility makes overcollateralized loans risky, and platforms often set tight liquidation thresholds. History shows such events cluster during downturns, and with Bitcoin’s price still wobbly, I’m betting the first domino falls within a week. (Now *this* is spicy!)
I've seen a few fallen post about about getting liquidated
Collateralised loan are designed in such a way that you end up owning nothing.
You have multiple points of failure not just price.
You have, oof. I feel like a dick for appearing to be kicking people who might be down, but not what I'm intending (maybe a tiny bit, I'm no saint). I'm mostly interested in how smooth and calm the companies are with volatile downturns. Also, you'd think now would be a good time to promote those products, "don't sell, borrow at the bottom", but it seems like crickets :/
Chase the yield
Fafo
🤷🏻♂️
It's way less risky now for sure
I also love the thrill of waking up at 3 AM to check if my collateral just evaporated into thin air. Professionalism? More like a casino with a better UI.😂
I dunno, there's argument for taking loans out now more than at higher prices, if you think we're near a bottom and don't wanna sell.
I'm definitely too scared of that stuff to even dabble, but if you believe they are safe and operate as advertised, you'd expect that, no? Just weird you never hear about loans except at ATHs. Top signal stuff I guess. Maybe it's just companies responding to the higher demand when there's more euphoria, but if I were in charge of marketing I'd push for loans now 🤷♂️
Seems that way 🤷♂️
OTOH, now is probably a good time for one 🙃
Like, kinda, yeah? Good marketing anyway. "Don't sell the bottom, borrow and reap the gains!"
Everyone knows you only take out a bitcoin loan once every four years at the bottomest of bottoms. Time to go all in at 50K! This is not financial advice.
You lose the ownership once you give up the asset. According to UCC 8, all assets are pooled and hypothecated and during liquidity crisis, the ownership of the assets goes to secured creditors i.e mega corporations.
It applies to all assets be it stocks, bonds, etfs, your collateralized loan.
You are just one liquidity crisis away from losing your stack.
I advise you to watch this video or read the book The great Taking.
Also we are very close to a point where governments are gonna seize the assets which you don’t own physically. So I won’t lend a dime to anyone.
I "read" The Great Taking (Guy Swan did). Was good, and you make a good point.
Yup that’s why I just own bitcoin, physical gold and land.
Sold all the bs stocks and shit.
That and treasury companies buying above 100k...
I called this shit publicly and repeatedly in strike guys posts. The loan hype and loan product launches are always at the top. The great taking, not just for fiat anymore.
Oh yeah, almost felt like I was ripping you off with my post. It'd honestly be nice to hear from say Strike, how loanees have faired through the downturn. Like, how bad are liquidations? I expect it'd be grim, and don't expect they would wanna talk about that, but on other hand it's completely in interest of audience to hear about it. And not like Strike did anything wrong, so why not?
I know I said something back at like 80 and he said they hadn't liquidated anyone. 80 was a long time ago.
He hasn't mentioned the loans in a while.
Awful quiet about loans, yeah. I'd respect some straight talk about it
my credit is so ready
Yeah I’ve seen a few people posting regrets lately. One guy here on nostr posted that he was liquidated yesterday. Sucks.
Ah ok. That sucks, but respect for sharing. Could help others make more careful de visions
I read that as 13 BTC for a second 😅
Ouch, but at least that's probably not life devastation levels of rekt. :/
They were a bad idea at $100k lol
