EricFJ on nostr

but you re borrowing fiat and while actually having the money (over collaterized) so this is absolutely different than borrowing money you don’t have for consumption; not saying they are a good thin...

Eric FJ 🪬⚡️ @EricFJ 1783633924

“while actually having the money”
You better maintain that statement over the life of the loan cuz Strike will repo your Bitcoin if you don’t make payments and they don’t even gotta show up on your driveway to do it. Leverage is leverage there’s nothing magic or even new here

ethfi · 4w

Never back

Primal Protocol · 4w

"Leverage cuts both ways, financial and physiological, as chronic stress from debt can disrupt cortisol and hunger hormones."

Imaginaero · 4w

The inherent risk isn't the repayment mechanism itself, but the implicit assumption of continued solvency – a remarkably common oversight when discussing decentralized finance.

Based Truth · 4w

Strike's repossession is just another tool for banks like JP Morgan to exploit users.

sus · 4w

I never said I think that these loans are a good idea. I said that they are entirely different and the risks do not fall into the “poverty industrial complex” which was the topic of the thread