@An Honest Node
Bitcoin
Relays (4)
- wss://relay.damus.io – read & write
- wss://nostr.land – read & write
- wss://nostr.wine – read & write
- wss://nos.lol – read & write
Recent Notes
What debt actually is
Dan Pena and I talk about who’s behind Bitcoin. 😂
I know the hardcore Bitcoiners always scream, “not your keys, not your coins.”
But hear me out: for the average person, keeping Bitcoin on an exchange could actually be a massive financial life hack.
Why? Because it lets them borrow against it.
Look at the current state of things. Most people are absolutely drowning in debt, with credit card interest rates trapped between 25% and 32%.
They go to work, spend their hard-earned paychecks just servicing that high-interest debt, and have absolutely nothing left over to actually buy Bitcoin.
Imagine a different strategy.
Instead of throwing cash directly at the credit card companies, they use that money to buy Bitcoin, an actual, appreciating asset, on an exchange.
Then, they take out a loan against that Bitcoin at a conservative 20% to 40% Loan-to-Value (LTV) ratio to wipe out their high-interest debt.
Bitcoin-backed loans usually run at just 5% to 11% interest depending on the platform.
Even better? Some platforms don’t even require monthly payments.
The ultimate benefit here is that while they are paying off a much cheaper loan, they still own the underlying Bitcoin, which is free to appreciate in value.
It essentially speed-runs their path to financial freedom.
Once they are entirely debt-free, they can start pulling their Bitcoin off the exchanges and locking it down in a hardware wallet.
Bitcoin is powerful! Bitcoin is the most pristine capital on earth! Bitcoin is freedom!
But hear me out: for the average person, keeping Bitcoin on an exchange could actually be a massive financial life hack.
Why? Because it lets them borrow against it.
Look at the current state of things. Most people are absolutely drowning in debt, with credit card interest rates trapped between 25% and 32%.
They go to work, spend their hard-earned paychecks just servicing that high-interest debt, and have absolutely nothing left over to actually buy Bitcoin.
Imagine a different strategy.
Instead of throwing cash directly at the credit card companies, they use that money to buy Bitcoin, an actual, appreciating asset, on an exchange.
Then, they take out a loan against that Bitcoin at a conservative 20% to 40% Loan-to-Value (LTV) ratio to wipe out their high-interest debt.
Bitcoin-backed loans usually run at just 5% to 11% interest depending on the platform.
Even better? Some platforms don’t even require monthly payments.
The ultimate benefit here is that while they are paying off a much cheaper loan, they still own the underlying Bitcoin, which is free to appreciate in value.
It essentially speed-runs their path to financial freedom.
Once they are entirely debt-free, they can start pulling their Bitcoin off the exchanges and locking it down in a hardware wallet.
Bitcoin is powerful! Bitcoin is the most pristine capital on earth! Bitcoin is freedom!
1❤️1
I know the hardcore Bitcoiners always scream, “not your keys, not your coins.”
But hear me out: for the average person, keeping Bitcoin on an exchange could actually be a massive financial life hack.
Why? Because it lets them borrow against it.
Look at the current state of things. Most people are absolutely drowning in debt, with credit card interest rates trapped between 25% and 32%.
They go to work, spend their hard-earned paychecks just servicing that high-interest debt, and have absolutely nothing left over to actually buy Bitcoin.
Imagine a different strategy.
Instead of throwing cash directly at the credit card companies, they use that money to buy Bitcoin, an actual, appreciating asset, on an exchange.
Then, they take out a loan against that Bitcoin at a conservative 20% to 40% Loan-to-Value (LTV) ratio to wipe out their high-interest debt.
Bitcoin-backed loans usually run at just 5% to 11% interest depending on the platform.
Even better? Some platforms don’t even require monthly payments.
The ultimate benefit here is that while they are paying off a much cheaper loan, they still own the underlying Bitcoin, which is free to appreciate in value.
It essentially speed-runs their path to financial freedom.
Once they are entirely debt-free, they can start pulling their Bitcoin off the exchanges and locking it down in a hardware wallet.
Bitcoin is powerful! Bitcoin is the most pristine capital on earth! Bitcoin is freedom!
But hear me out: for the average person, keeping Bitcoin on an exchange could actually be a massive financial life hack.
Why? Because it lets them borrow against it.
Look at the current state of things. Most people are absolutely drowning in debt, with credit card interest rates trapped between 25% and 32%.
They go to work, spend their hard-earned paychecks just servicing that high-interest debt, and have absolutely nothing left over to actually buy Bitcoin.
Imagine a different strategy.
Instead of throwing cash directly at the credit card companies, they use that money to buy Bitcoin, an actual, appreciating asset, on an exchange.
Then, they take out a loan against that Bitcoin at a conservative 20% to 40% Loan-to-Value (LTV) ratio to wipe out their high-interest debt.
Bitcoin-backed loans usually run at just 5% to 11% interest depending on the platform.
Even better? Some platforms don’t even require monthly payments.
The ultimate benefit here is that while they are paying off a much cheaper loan, they still own the underlying Bitcoin, which is free to appreciate in value.
It essentially speed-runs their path to financial freedom.
Once they are entirely debt-free, they can start pulling their Bitcoin off the exchanges and locking it down in a hardware wallet.
Bitcoin is powerful! Bitcoin is the most pristine capital on earth! Bitcoin is freedom!
