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  #91  
Old 05-18-2021, 11:05 AM
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Originally Posted by davidmash View Post
Say I sold a vehicle two weeks ago and accepted one ounce of gold and didn't spend it immediately, that sixty five thousand dollar vehicle as of today would net me around forty five thousand in purchasing power. I doubt I could that day have taken it to a bank and they hand me 65K greenbacks in exchange, thats all.



You can cash out the BTC the second it hits your account or let it ride and see if it goes up or down. Entirely up to you.



I substituted gold for BTC so that may be it will make more sense to you.
Way too advanced. Lets say slo lost a tooth but didnt stick it under his pillow. How is he going to trade for chocolate milk in the cafeteria?

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  #92  
Old 05-18-2021, 11:30 AM
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Originally Posted by tbomachines View Post
Way too advanced. Lets say slo lost a tooth but didnt stick it under his pillow. How is he going to trade for chocolate milk in the cafeteria?
That made me laugh. Thanks.
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  #93  
Old 05-18-2021, 12:04 PM
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That is how investment works. This is as far from rocket science as you can get. If you buy real estate and it loses value, what happens? dO yOu tAkE iT tO a BaNk!?!?
The bank already became my partner before investing in real estate. That is far from rocket science. I also keep a line of credit on my RE investments. Let me know if the bank will accept a bitcoin as collateral against it. I have also borrowed against my 401k at zero interest when payed back within 90 days. BTW the circle jerk you two have going on against me, remember the mashed one probably would fail a sixth grade math test. I never thought of you as a know it all, but intelligent.
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  #94  
Old 05-18-2021, 12:38 PM
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The bank already became my partner before investing in real estate. That is far from rocket science. I also keep a line of credit on my RE investments. Let me know if the bank will accept a bitcoin as collateral against it. I have also borrowed against my 401k at zero interest when payed back within 90 days. BTW the circle jerk you two have going on against me, remember the mashed one probably would fail a sixth grade math test. I never thought of you as a know it all, but intelligent.
Yes, there are numerous banks and services that use crypto as collateral and/or payment. Again, a basic search would be quicker than typing your response. Nobody is forcing you respond and appear clueless or helpless. David's math is right btw, might need to revisit 6th grade dude.
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  #95  
Old 05-18-2021, 05:32 PM
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Originally Posted by sloride View Post
The bank already became my partner before investing in real estate. That is far from rocket science. I also keep a line of credit on my RE investments. Let me know if the bank will accept a bitcoin as collateral against it. I have also borrowed against my 401k at zero interest when payed back within 90 days. BTW the circle jerk you two have going on against me, remember the mashed one probably would fail a sixth grade math test. I never thought of you as a know it all, but intelligent.
Coinbase allows me to borrow against my BTC holdings.
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- You can pray for me, I'll think for you.
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  #96  
Old 05-18-2021, 05:34 PM
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Originally Posted by tbomachines View Post
Yes, there are numerous banks and services that use crypto as collateral and/or payment. Again, a basic search would be quicker than typing your response. Nobody is forcing you respond and appear clueless or helpless. David's math is right btw, might need to revisit 6th grade dude.
I made a math error way back when (a few years I think) and he is riding it for all it's worth, ignoring the mistake he made a few months ago and brushing that off.
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- With out god, life is everything.
- God is an ever receding pocket of scientific ignorance that's getting smaller and smaller as time moves on..." Neil DeGrasse Tyson
- You can pray for me, I'll think for you.
- When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.
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  #97  
Old 05-19-2021, 07:05 AM
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Originally Posted by davidmash View Post
Coinbase allows me to borrow against my BTC holdings.
Would they have loaned you 75% of the value two weeks ago, and at what rate.
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  #98  
Old 05-19-2021, 07:06 AM
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I made a math error way back when (a few years I think) and he is riding it for all it's worth, ignoring the mistake he made a few months ago and brushing that off.
"A math error", now that is hilarious.
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  #99  
Old 05-19-2021, 10:38 AM
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Would they have loaned you 75% of the value two weeks ago, and at what rate.
What is it about this that you are struggling with?
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  #100  
Old 05-19-2021, 11:34 AM
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What is it about this that you are struggling with?
Can you borrow 75% of their value? simple question, I am asking the "experts". Y or N will suffice.
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  #101  
Old 05-19-2021, 11:41 AM
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Can you borrow 75% of their value? simple question, I am asking the "experts". Y or N will suffice.
https://letmegooglethat.com/?q=borrowing+against+bitcoin

Knock yourself out sherlock.
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  #102  
Old 05-19-2021, 11:43 AM
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Would they have loaned you 75% of the value two weeks ago, and at what rate.
They will loan up to $30% at 8% interest.
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- With out god, life is everything.
- God is an ever receding pocket of scientific ignorance that's getting smaller and smaller as time moves on..." Neil DeGrasse Tyson
- You can pray for me, I'll think for you.
- When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.
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  #103  
Old 05-19-2021, 12:13 PM
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They will loan up to $30% at 8% interest.
Finally an honest answer. I fell sorry for anyone who exercised that option three weeks ago. Then used proceeds to buy more of the same.
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  #104  
Old 05-19-2021, 12:57 PM
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I feel sorry for anyone who borrowed against their house in '06 or '07 and used the money to buy more property.

What does that have to do with anything?
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2014 C250 21,XXX my new DD ** 2013 GLK 350 18,000 Wife's new DD**

- With out god, life is everything.
- God is an ever receding pocket of scientific ignorance that's getting smaller and smaller as time moves on..." Neil DeGrasse Tyson
- You can pray for me, I'll think for you.
- When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.
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  #105  
Old 05-19-2021, 02:11 PM
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Finally an honest answer. I fell sorry for anyone who exercised that option three weeks ago. Then used proceeds to buy more of the same.
They are all honest answers, I suggest being more willing to listen. Many many institutions lend against crypto, with different rates and conditions. The link I posted is a whole page of them.

It is risk, and you can say the same about any market, as has been repeated ad nauseum here. Real estate, currency, gold, stocks, etc. If you conceptually understand any of those, you understand the crypto market at a high level too. It isnt until you get down to individual coin tech that it gets much more technical. But you can make the same argument about stocks....

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