Replies (122)
Yo Jack,
Are you guys going to try to become a registered bank so you emit new moneraty units on your bitcoin loans. And then you could compete with other banks and have a 6% interest rate instead 12%?
What are your thoughts on this ?
Oh man this is tempting lol
So lets say I take out 15k € loan, once that 15k€ hits your bank account you would have to pay tax on it/declare as income? That would be a taxable event the same if you actually sold the bitcoin for that amount no?
FYI as a user of btc collateralized loans from other companies -- if you are getting 6% on one of these loans, then the bank is rehypothecating it on the back end. No bueno.
How will the custody of the btc collateral be handled?
When will more US states be supported?
@Jack Spirko is from the future.
nevent1qqsqq5vq40xyn9av02wv5nlex4f84g6sk020apvnayltf2aq3rj5xpqpyfmhxue69uhkummnw3ez6an9wf5kv6t9vsh8wetvd3hhyer9wghxuet5t5lt52
Best for bear —> bull markets so you don’t have to worry about the LTV
Not going to lie, it's my belief that if you're using the best performing asset as collateral, the interest rate should be BETTER than if you used any other form of collateral.
How will you handle out of hours volatility -- if the price crashes on a Saturday night and threatens to make the loan hit its margin call point, what can a user do -- can the user pay down some of the USD's with stablecoins?
that’s not the case today. it’s difficult to find USD cheaper than what we are offering right now. we are offering market leading rates.
my goal is to get it down to under 10% in the coming months, but we’d be the first to achieve that
My state not listed 😭
Soon. We have added a new state pretty much everyday recently. Just a process with all of the regulation
this is interesting
nevent1qqsqq5vq40xyn9av02wv5nlex4f84g6sk020apvnayltf2aq3rj5xpqpyfmhxue69uhkummnw3ez6an9wf5kv6t9vsh8wetvd3hhyer9wghxuet5t5lt52
When lower loans? $75k min means we need to put up over1.5 coins to access any liquidity.
Not sure about all you guys but 1.5 bitcoin is not an immaterial amount for me…
Would be nice to get like $10k for 20 million sats
Thank you! Excited to be able to build our life on top of the hardest asset in the world.
@jack mallers please let me know if you need help with Alabama…happy to make whatever phone calls necessary to ensure this happens quickly!
I tried one on Coinbase last month for ≈5% APR. Although, yes, it uses a shitcoin blockchain.
Crypto-Backed Loans
Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency.
I’m just glad the market is competing and offering different trade offs.
Thank you
@jack mallers and
@npub1ex7m...vyt9 team! This is amazing, waiting on my state (TX), sadly.
If you are looking for a loan against your BTC service that aims to be decentralized, runs on a Bitcoin sidechain (#Rootstock), and doesn't have a minimum amount requirement for a loan ... you can have a look at
@Sovryn | DeFi for Bitcoin ... and soon what may be running on BitcoinOS.
Glad to have the option but maybe it needs time to mature, risking bitcoin and paying apr doesn't make a lick of sense to me.
love the sound of it, but if I don’t have $100k without selling my bitcoin today, to pay back $113k in a year, wouldn’t I still need to either (a) sell my bitcoin or (b) “find” $113k, even though I couldn’t find “100k” a year ago?
i dunno man, 12% interest on an asset where the 4 year CAGR is around 20% right now (and trending down) doesn't seem like a great idea
Get the $100k loan, buy a skid steer and forestry mower, sell your service clearing land, work your ass off for the year, make $250k, pay back $113k, buy $60k Bitcoin, do more work, buy more Bitcoin, etc. no need to sell Bitcoin… oh wait, you want to make the $113k without working???
🫡
@jack mallers what is the blocker to the US States that are excluded?
Proof of reserves lending 🔥
nevent1qqsqq5vq40xyn9av02wv5nlex4f84g6sk020apvnayltf2aq3rj5xpqpyfmhxue69uhkummnw3ez6an9wf5kv6t9vsh8wetvd3hhyer9wghxuet5t5lt52
buy bitcoin with dollars
get dollars loan
buy bitcoin with dollars
get dollars loan
buy bitcoin with dollars
get dollars loan
buy bitcoin with dollars
get dollars loan
buy bitcoin with dollars
Just waiting for those rates to be below my local bank… perfect collateral should be able to beat them.
perpetual loans as well?
How do you actually “HODL” bitcoin if you deposit it with the lender’s custody?
When do you think the minimum will reach 5-10k?
When will XXI start acquiring coin?
Do you have any plans to offer higher amounts of collateral for lower rates?
If I want to borrow against .1btc but I put in 1btc that carries a tiny risk profile & should be rewarded with lower costs to the borrower.
BitcoinOS 🤣
You're not wrong jack,
Ledn has been around for a while now & they're offering 12.4%.
No, that's not how it works & interest expense is tax deductible.
In this case, you can spend your wealth without selling it or leveraging it.
This isn't RE or stonks!
Where are we now? 😏
For everyone trying to treat this like it's a scam to loan shark plebs into getting loans for their burritos, please look at it again more carefully and realize this lending product isn't for people stacking $0.40 cents of bitcoin a day.
View quoted note →If you borrow dollars to buy & eat food, and you **don't** use the resulting metabolic energy to produce a repayment, the contract fails. If strike decides they're done, the contract fails.
People borrow dollars for far less productive reasons than gaining metabolic energy.
It's risky, plain & simple.
Work hard enough for your household & stack sats. No banks & no contracts necessary, aside from your employer/customers.
Jack “sheckelberg” mallers ready to enslave you with usury.
What's the deets?
No thanks, I will stick with HodlHodl, but is good to have options.
It shouldn't.
More or leas half way through the bull price-wise. I think both bulls and bears will be less volatile than before.
I can see what played out over the last 16 months continue for 5-10 years
Post 2.5 btc get 100k at 12% apr. Maintain margins or get liquidated in 24 hours
It's a collateral-backed loan, like a non-recourse mortgage or a pawn shop. But it's a volatile asset, so they might have to margin-call you, or they could go bankrupt holding your debt note. That's actually a big risk, on their part, especially going into a worldwide recession, which explains the high interest rate.
I think this is the correct page.
Bitcoin-backed loans
What are bitcoin-backed loans?
Jack mallers dad was a comex bigwig. Don’t trust their products
Wen Texas?
I think it's non-recourse. That's an investment-grade loan, not usury, as you can walk away debt-free.
wow 2.5x the collateral for fiat?
yeah doubt many have 2.5 BTC to begin with
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Since I started following my manager's new trading plan, I've seen a significant improvement in my financial situation. I'm truly grateful for the support I'm receiving—earning $150,000 as a beginner in crypto trading is a huge milestone. If you're looking to get started, I highly recommend reaching out to Mrs. Susan. You can contact her via email at susandemorirs@gmail.com or on WhatsApp at +1 (472) 218-4301
Sounds like a good deal….
FOR STRIKE
Wen Strike in Canada?
"When money is lent on a contract to receive not only the principal sum again, but also an increase by way of compensation for the use, the increase is called interest by those who think it lawful, and usury by those who do not." William Blackstone's Commentaries on the Laws of England
Exactly, getting a 12 percent loan from the bank and just taking bitcoin from us. Just go around strike for a 12% loan, this is a dumb product.
Totally agree
Probably never lol
Borrow the best asset in the world for paper dollar, with high risk and with a gigantic interest. No thanks.
Love it
@jack mallers bring the btc standard to the UK! 😉👍
This is pure fiat maximalism !
When you said "we're only live in the US for now".
I felt that. 😭
12% loan is high anyway especially if you need 2.5x collateral.
Yeah no credit for risking my good money for bad money. No thank you.
Hey now. Don’t forget whales who trade and have multiple streams of passive income you bigot
lol
I made a retirement calculator where you perpetually borrow from your bitcoin and never sell. Note I don't endorse this technique but I made the calculator for learning purposes. If there is enough interest I'll post how to use it.
Desmos
Untitled Graph
Explore math with our beautiful, free online graphing calculator. Graph functions, plot points, visualize algebraic equations, add sliders, animate...
It’s called Jewish banking
Congrats Strike🙌 I wish this had been available sooner and lower minimums
You keep on borrowing to pay the interest until enough time has passed and decide to finally sell to pay the loan balance... or never pay it. See my calculator to retire on bitcoin without ever sell:
Desmos
Untitled Graph
Explore math with our beautiful, free online graphing calculator. Graph functions, plot points, visualize algebraic equations, add sliders, animate...
This is going to be great for me and my family, thank you 😊
What do you mean?
Gonna need a little help understanding how to use it.
Available world wide? I'm in Australia
You did not understand what I said. Mortgage rate are at 6. Why ?
Are people's home rehypothecated ?
Incredibly cool to see this. This truly feels like the future I imagined. When anyone can get access to legitimate banking facilities that the banks have segregated for the select few for generations. All with no overreach and privacy capture.
Excellent 🙌🏽🫡
nevent1qqsqq5vq40xyn9av02wv5nlex4f84g6sk020apvnayltf2aq3rj5xpqjh2s58
Hey
@jack mallers this is good point . Care to explain? ✌️
I'll write something during the weekend... GN.
Europe wen?
Interesting even if I don't find the point of parking ₿ to borrow fiat. Or rather I see the sense, but I would never do it. Anyway good idea
Borrow fiat, HODL Bitcoin. Access your wealth without selling. Smart move.
If you could roll the loan I would sign up for 100k loan today.
How much will Strike pay me to part with the best asset on earth?
Amazing! When in UK?
Money are not being lent in the scenario. Money is posted as collateral and fiat credit is being lent with interest probably below credit growth rate.
Everyone’s a scammer
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Not even collaborative custody? We've seen this model and how it ended before
Bitcoin: A custodial fiat borrowing vehicle with KYC/AML and Visa as L2.
Just like Satoshi envisioned it!
They're rehypothecating your sats, anon.
Is it gonna be required to do some kind of ID.?
Very disappointed with the 75k minimum loan. I think your service is not for the common people! Lend can do a 1k loan; that’s a service for the plebs.
@jack mallers is becoming a businessman! sad day 😔
What do we think of this?
@ODELL 
the product requires trust
strike will be adding proof of reserves soon, its a process
I made a retirement calculator where you perpetually borrow from your bitcoin and never sell. Instructions in thread.
Desmos
Untitled Graph
Explore math with our beautiful, free online graphing calculator. Graph functions, plot points, visualize algebraic equations, add sliders, animate...
CALCULATOR OBJECTIVE
Evaluate the viability of funding your entire retirement living expenses through a loan, using your Bitcoin holdings as collateral. The loan balance increases annually as you borrow to cover both your living expenses and the interest required to service the loan. This strategy is considered successful if the value of your Bitcoin grows at a faster rate than your loan balance, ensuring that the loan-to-value (LTV) ratio remains manageable—typically below 50%.
CALCULATOR INPUTS
Adjust the following inputs using the sliders on the left-hand side:
(R): The year you retire—assumed to be January 1st of this selected year.
(M): Your desired income in the first year of retirement (R). This amount increases annually by F.
(F): The inflation rate or the percentage by which you want your income to grow each year.
(L): The annual interest rate on the loan—the cost of servicing your debt.
(B): The amount of Bitcoin you are using as collateral for the loan.
(P): Adjusts the Bitcoin price projection. Refer to this chart* for guidance:
- Enter 0.42 to follow the red support line—a conservative price projection.
- Enter 1 to follow the green trend line—an aggressive price projection.
*
https://charts.bitbo.io/long-term-power-law/
CALCULATOR GRAPH
This graph displays the results of your calculations, with the x-axis representing years and the y-axis representing USD. Each colored line represents a key financial metric over time:
Green Line – Your income growth throughout the years.
Red Line – Your loan balance as it increases annually.
Orange Line – The value of your Bitcoin collateral over time.
Blue Line – The loan-to-value (LTV) ratio, scaled for visibility. (Note: The LTV is artificially multiplied by 10⁹ for display purposes; divide by 10⁹ to obtain its actual value.)
EXAMPLE
Consider a conservative and frugal individual holding 3 bitcoins, planning to retire in 2026 with an annual living expense of $35,000. Assuming an inflation rate of 7% and a loan interest rate of 10%, the input parameters are as follows:
R = 2026 (Retirement Year)
M = 35,000 (Initial Annual Income)
F = 0.07 (Inflation Rate)
L = 0.10 (Loan Interest Rate)
B = 3 (Bitcoin Collateral)
P = 0.42 (Conservative Bitcoin Price Projection)
Now, does this strategy hold up? Based on the calculator’s results:
- The loan-to-value (LTV) ratio peaks at 47% in 2030, then decreases over time, indicating the loan remains viable.
- 30 years into retirement, the loan balance reaches approximately $13 million, while the value of the Bitcoin collateral grows to around $56 million.
According to the numbers, this approach appears feasible—provided the individual is comfortable managing a high level of debt throughout retirement.
ADVANCED
All the formulas are visible and easy to modify if you wish to.
Bit confuse🤔
But appreciate for every movement #bitcoin 🚀
nevent1qqsqq5vq40xyn9av02wv5nlex4f84g6sk020apvnayltf2aq3rj5xpqpyfmhxue69uhkummnw3ez6an9wf5kv6t9vsh8wetvd3hhyer9wghxuet5t5lt52
Would be sad to see Bitcoin HODL growing. It prioritizes storing value rather than transacting. It would be amazing if the value of Bitcoin increases slowly over time, it would ease people to trade more. Too much success or growth is not a good thing.
👁️
Any word on when this service comes to SC?
