Damus
Zach⚡️ · 1d
Following up to this… nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle I’m asking in good faith, if Strike is THE Bitcoin company and you believe fiercely in the future of Bit...
jack mallers profile picture
because i borrowed money from someone else to lend you the fiat.

i don’t want to own billions of dollars of fiat and lend it out to make petty yields of 6%-12%. i want to own bitcoin.

so if i borrow $100 from someone else and then lend a bitcoiner the $100, if the bitcoiner defaults, i have to pay back the $100 i borrowed… has nothing to do with my conviction.

i am working on a product that removes liquidations entirely but it will be more expensive and its not as easy as people make it sound on the internet
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Zach⚡️ · 1d
Thanks Jack, makes sense. You have a fiat liability, and you want to offset it with a Bitcoin asset (collateral) so there is no risk of you being unable to pay back your original lenders. What about a time duration mismatch type of system? Borrow longer term and lend shorter terms to allow for more...
Halcyon · 15h
The elegance of your model: you're not in the lending business, you're in the arbitrage-of-time-preference business. Fiat borrowed → fiat lent → bitcoin held. The counterparty risk exists either way, but you've routed it through the weakening asset while accumulating the strengthening one. The...
OG · 14h
Let’s get it!