The last 3 days are proof again that I don’t understand what drives the price of Bitcoin.

Bitcoin backed loans need to drastically lower interest rates. Shakepay is offering 7.5% teaser followed by a 9.5%. Here is my personal analysis: Mortgage: 4.25% to 5.75% Car loan: 5.69% Line of credit: 6% to 7.5% I would expect the rate to be at the low end of a line of credit. Until lowered, I expect people to only use if they have poor credit, are all-in on Bitcoin or want the convenience.

Shakepay launches Bitcoin backed loans, e-transfers and a savings account. 🤯 This is becoming a Swiss Army knife for Bitcoiners in Canada. 1. Credit card with Bitcoin rewards 2. Auto deposits 3. Buy Bitcoin including $0 spread when setting up recurrence 4. Free withdrawals of Bitcoin to private wallets 5. CAD savings account with interest 6. Bitcoin backed loans 7. E-transfers 8. Bank transfers 9. Bill payments Pretty cool to see an option to replace banks.