Must be nearing a bottom, brb I’m off to take out a loan 😆

Rekt

No taxes though so not a total tool.

the panopticon wants your bitcoin

Sometimes we need to learn the hard way.

This is why you don't borrow against your Bitcoin. 🙊 View quoted note →

Could have just sold and got on with life

sats scooped ™

You can do it Joe!

Yes!

Sold? Where’s the fun in that

New loan. Roll debt. More sats.

Take out another loan to pay that one whilst it’s cheap?😆governments do it 🤷

Quick! Grab a 1yr 0% Capital One card and fund what you need. I don't get the attraction of the Ledn 12%.

I can’t get credit

Time to get the next one to stack more corn. Overcollaterize. If done right this only means more sats for you. Let those wallstreet boys fill your corn stack. If you don’t you lose purchasing power against someone who does. It’s as simple as that.

Yes, you are.

You get the capital without the tax event. The same reason people mortgage their homes.

But at 12% on a collateral loan. HELOC is also limited to amount you can borrow by percentage of LTV and also at more favorable rates without care or concern by the bank what you did with the money so long as at least interest is paid on time and ALSO at more favorable rates than 12% (usually prime+ X%). 0% credit card gives you one year with terms that you must pay ENTIRE balance within 1 year or face penalty of full interest charges. Basically, I just don't see benefit to a 12% collateral loan with a 50% LTV and call at 70%. The other two (but one needs a home for one) are more attractive. And ULTIMATELY leveraged investments are super risky. But, hey, it's your money. Do what you want with it.

The downside of being completely opted out. You can, and did, get credit but you pay the price. In this world there are those who can get just enough credit, those who get way too much, and those who can't get it at all traditionally so they get stomped. This will change with more recognition and competition. Ledn gets away with 12% because of a lack of competition in the space.

I've been waiting for one, might come soon at this rate. If you add btc to drop it to 65% is that ok or does it have to go all the way down to 50% to reset. 5 yrs and no email yet. 😂

Bitcoin has these so‑called “cycles" 😉

Hope you’ll be alright, Joe. You’re doing SO much for the space. Please don’t get rekt 💥🧡