Damus
ODELL profile picture
ODELL
@ODELL
loans on bitcoin inherently have risk but they can also be incredibly useful

for those that want one, i am confident strike will provide the best and most responsible experience

- secure custody
- dollars instantly in your bank account
- easy and clear ux
- competitive rates

their in-app flow is very clear about risk and liquidation levels, with a high reserve requirement, to reduce loan loss

skepticism is healthy but their product is new and will become better quickly, feedback is helpful

soon:
- roll overs
- lower rates
- proof of reserves

disclosure: ten31 is strike's lead investor and jack is a brother
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Zryachiy · 40w
Stay humble
Ryan Reynolds · 40w
The hate on this blows my mind. First, to be 100% clear, everyone should do as they see fit with their bitcoin/fiat/seashells/etc. Borrowing against an appreciating asset makes sense. No selling (ie: losing future appreciation on) said asset, and no capital gains. This is why the rich have done t...
Chuck Langstrumpf · 40w
FIAT Simps - thats what you guys are.
2Pac · 40w
On what fucking planet is putting up $140k in bitcoin to secure 70K cuckbucks at 12% APR and margin calls and liquidations at 70% and 80% LTV, is that “incredible useful” ? A regular fiat loan has way lower apr with zero risk of margin call or liquidation of your bitcoin. Seems like a good deal ...
KD9to · 40w
The standard 50% LTV is a 2x leveraged trade. It also creates credit (money out of nothing), inflating the money supply. This is not sound money. Is this a necessary phase we have to pass through as fiat becomes worthless and the more we hasten it the better? Or is this a new paradigm where fiat l...