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Comte de Sats Germain · 65w
What an incredible scheme to steal bitcoin. Its like an affinity scam on steroids. After every bull run, there's a crash. Then the collateral is below some threshold, and they get to steal your btc. F...
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Chucky 🫂 @Chucky 🫂
I don't think there is a liquidation of the collateral BTC. My assumption is that a 4y holding period applies for both parties. However after 4 years, and at any point after those 4y, you get to choose to sell it in case of a bull run that would possibly allow to pay off the mortgage quicker.
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Comte de Sats Germain · 65w
That would be different from bitcoin lending schemes that already exist. The collateral's value in dollars has to stay above a threshold, and if it falls below that, you have to add more collateral or get liquidated and lose some of your btc. An example you can investigate yourself is Ledn's bitcoin...