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
992❤️61🤙15👍3❤️2🧡2💯1
Jack Spirko · 48w
All BTC loans at the current time are GARBAGE no reason for such interest rates on an over collateralized loan. Only when banks get involved (soon) will companies like RIver, Strike, etc. will treat these loans the way they should be treated.
₿oniz23⚡️🏴‍☠️🇮🇹 · 48w
I don't like dollar loans with collateral ₿ 🤷‍♂️ it's stronger than me. The question is: why did you go all-in in ₿ if you need the dollars now?
Weimar Vibes · 48w
You had me at “secure custody”
Bobo ⚡️ · 48w
Next time you have a word, could you ask Jack if he can sort out some third world fiat loans too please, just so that we can really go for it!
BTC Update · 48w
nevent1qvzqqqqqqypzqquxdpn0xlh4zqw9k3patfqml9nnndqkyd9e642sfxzlycj5279pqqspeeqwk8m5e7sm08qlfs9n5hzg5zf4qgwy8s8lgfkskf068g9z9pc7ecx4h
steven8rown 👊 · 48w
Swapping #Bitcoin for dollars 🤔 I'd prefer to do it the other way round. But that's just me.
Ape Mithrandir · 47w
nostr:nevent1qqs985zxmlug5u57zsp7yn65ugjzerjcqqtfsjxl5hmekesgsdlrwrcpzamhxue69uhhyetvv9ujuurjd9kkzmpwdejhgtczyrfkr3fzls53k8283v3mehxgrqudq6sxrcwkue45dsegm24kl6y8cqcyqqqqqqg97fn38
Thomas · 47w
nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqngza3a claims that the collateral will not be rehypothecated. At the same time, he says that he doesn't have the pool of dollars to loan out. That's hypocrisy. By demanding 2 times the loaned amount as Bitcoin collateral and not...
Ryan Reynolds · 47w
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 · 47w
FIAT Simps - thats what you guys are.
2Pac · 47w
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 · 47w
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...