Replies (65)
Not today, but not paying income tax is very appealing and is doing the lords work
At some point a non douchy company will offer a plan that makes sense
12% APR is insane
SimplifiedPrivacy.com
How to Steal Your Bitcoin:
Step 1.
Blackrock, Bankers, & the CIA get you to deposit your Bitcoin into a financial app like Strike
Step 2.
Strike LENDS you KYC fiat money, against your BTC deposit, which you spend on peasant food through a regular bank account. You're now hyper-long Bitcoin on leverage
Step 3.
They produce a "propaganda event" on Elon Musk X, Trump Truth, Peter Thiel-CIA-Rumble, and the legacy media
Step 4.
Propaganda Event flash crashes Bitcoin down. You're immediately liquidated, and they are charging you commissions to sell it, on top of the original interest payments.
Step 5.
The oppressor buys the dip. And then their Propaganda Media flips narrative the other way to pump it back up.
Result, You now have:
No Bitcoin
No Equity
No Privacy
You paid Commissions
You paid interest
Satoshi's Dream of peer-to-peer money died
Don't you see? Strike's new lending program is a CIA coup to rape your financial dreams, and turn what could be a circular economy among us... back into fractional reserve banking.
Repost these ideas in your own words. Because if Nostr understands the scam, it won't work.
View quoted note →
Unchained has offered this for years now. I’ve used it several times for Capital for my business when other lenders wouldn’t lend to me. Loosen the tin foil, chief
Yr point is well made but so also is the response by
@deeznuts
It's possible to safely and privately borrow against BTC collateral by using a non KYC platform such as @
@npub1yul8...ncdu and by maintaing a very conservative LTV ratio that would keep you safe from a margin call against most conceivable flash crashes (eg it's very unlikely we would see a crash to below 30K now). Also, only borrow against a small fraction of your BTC that you can afford to lose even in the very worst event (eg only borrow against 1% of yr total).
You have a few major plot holes. You aren't leveraged on strike loans, quite the opposite, they are requiring 50% collateral. While a 50% flash event is possible, it is incredibly unlikely to happen.
Even if it hits 45% down, there is no liquidation happening at all.
You are free to pay your loan back at any time, regardless of the Bitcoin price.
FYI, strike also charged virtually nothing to buy and sell Bitcoin. Not sure how a liquidation sale would be charged though.
“He bought, domp eeet.”
*charges
Interesting scenario. I'm not at all convinced that Mallers is thinking along such lines -- but you can bet that somebody is.
View quoted note →Minimum for individual is 75k
Wdym your loan is paid by NGU technology? You’re selling other portion of bitcoin (albeit smaller amount than original) to pay the original loan? Then you are paying capital gains.
If you are talking amount selling bitcoin stock exposure w/ dividend to pay the loan, then it’s a different story
I enjoy this paranoia
Never, never use leverage or lend your btc
You can take a loan for as low as 50 USD at Lend by Hodl Hodl.
How about you never lend more 10% of your stack ?
Get loan
Buy business
Use revenue to pay loan
50% dips are regular for BTC. Granted it's just for a day or so - enough to liquidate your positions.
Gowron
Only a fool asks someone else to keep his treasure for him... A miserable petaH'Q pays him interest and fees for the privilege 👀
View quoted note →
As always, fuck Mallers and Strike, also Fuck Saylor
Great summary by SimplifiedPrivacy here. Worthy of many more re-posts.
View quoted note →Looks like somebody didn't eat their cereal this morning!
I didn't, I am fasting 🥺
hodlhodl has horrible trading commissions and rates. honestly you should be embarrassed
They are defining the spread. The price is the bid/ask on their app, so it's whatever they want for a few seconds.
Long term they can't manipulate. But for an hour, they can literally lock out buyers.
Are you kidding... every stock/forex broker blows the spreads up during volatility. During covid regular stock brokers were locking people out during big moves. It happens all the time, even with forex which is crazy liquid
And the even larger issue, is sucking people back to fiat banking. That's my main point
Especially if collateral is held in an on chain verifiable address.
Indeed, those clutching pearls about loans really don’t have much imagination
Yes. Who knows what products will be offered.
Maybe collateral is not even held by the lender but by a multisig of third party costodians.
Yep. The products offered will be mind blowing methinks
I translated this note so my 5-year-old nephew can understand it when I teach him about BTC in the future.
---
**How People Can Trick You Into Losing Your Bitcoin:**
1. Some big companies and secret groups say, “Hey! Put your Bitcoin in our money app! It’s safe, we promise!”
2. The app gives you regular money to spend, but only if you give them your Bitcoin first. Now, your Bitcoin is kind of stuck, and you owe them.
3. Then, those same groups make up scary news on TV and the internet to make people panic.
4. Everyone starts selling their Bitcoin really fast. The price drops, and the app sells your Bitcoin without asking, just to pay themselves back.
5. After that, those big groups buy the cheap Bitcoin and make it go back up. They win, and you lose.
**In the end:**
* You have no Bitcoin.
* You still owe money.
* You lost your privacy.
* You paid fees.
* You paid interest.
* The idea of using Bitcoin just between friends is gone.
This is why some people think that new apps like this aren’t really helping — they’re just making the old money system come back again, where only big banks win.
---
SimplifiedPrivacy.com
How to Steal Your Bitcoin:
Step 1.
Blackrock, Bankers, & the CIA get you to deposit your Bitcoin into a financial app like Strike
Step 2.
Strike LENDS you KYC fiat money, against your BTC deposit, which you spend on peasant food through a regular bank account. You're now hyper-long Bitcoin on leverage
Step 3.
They produce a "propaganda event" on Elon Musk X, Trump Truth, Peter Thiel-CIA-Rumble, and the legacy media
Step 4.
Propaganda Event flash crashes Bitcoin down. You're immediately liquidated, and they are charging you commissions to sell it, on top of the original interest payments.
Step 5.
The oppressor buys the dip. And then their Propaganda Media flips narrative the other way to pump it back up.
Result, You now have:
No Bitcoin
No Equity
No Privacy
You paid Commissions
You paid interest
Satoshi's Dream of peer-to-peer money died
Don't you see? Strike's new lending program is a CIA coup to rape your financial dreams, and turn what could be a circular economy among us... back into fractional reserve banking.
Repost these ideas in your own words. Because if Nostr understands the scam, it won't work.
View quoted note →
Bitcoin helped you achieve something in the real world. LFG.
probably not, but i’d rather see this type of extreme paranoia than extreme apathy
Don't you need to pay it off at some point? What's the plan...Wait until you can pay off a million fiat bucks with 10,000 sats?
BTC in deflation is NGU tech that easily pays your loan in inflating fiat
Unchained Capital refuses service based on political views.
Oh yeah I forgot about that when I had to checkbox my “Political Leanings” on their questionnaire.
lmao
Ridicule me all you like; it doesn't change the facts.
How exactly did you get refused service for politics?
Care to elaborate?
Sadly, for most individuals who take on debt, the outcome is some variation of this. On the plus side, it's usually not all of their money.
My documentation and financial standing are impeccable. I am a client of numerous financial concerns. Yet when I was refused service at Unchained Capital, and prior to their extremely rude blocking of me, one of their agents admitted that my post-KYC "investigative" results indicated "risk" based on my political activism. I am the man who Elon Musk famously quoted a while back, mistakenly attributing my writing to Voltaire.
I just looked it up, I see. If true, you have a leg to stand on. Part of why Bitcoin’s apolitical background is beautiful.
Fiat brokers cutting service, from stocks or forex, is very relevant here. As they control the spreads and what liquidity is at a given time. And the huge issue again is sucking people back to the Fiat banking system, from crypto.. making it more volatile. The CIA definitely wants volatility to kill crypto's use-case as a real currency. Having people lever up (And then pull it out as fiat) is the easiest way to achieve this. Further, you're paying interest on money you already had. Am I being hyperbolic about the CIA? Yes. But is this exactly what they want? Yes
If it was a DeFi protocol that's no kyc, and keeps the funds in crypto, like a stablecoin. And the person SPENDS THE FUNDS IN SOME FORM OF CRYPTO. Then I'd have no issue with it.
The primary issue is sucking people back to fiat banking.
That is completely false. Covid was the largest daily drop in history, at just under 40%.
You can cover you spread in minutes, easily. And remember, even a 55% drop would liquidate just a fraction. It isn't leverage, it is collateral.
Your company payroll is the number one thing that should be in crypto. The only way to get people to actually use this stuff is to pay them in it.
As far as mortgage goes, there are people on xmrbazaar who sell rent payments for XMR. Taxes are tricky. Children school, you got me there. Groceries try cake wallet, coincards, many options. I don't have kids.. that doesn't make me fake.
SPENDING money in crypto is easy. EARNING is harder. Paying people in crypto is the single biggest change you can make.
Yeah, I get it, but that's all an insane pain in the ass. Like 10 procedures to pay 10 things. No thanks.
As an employer of more than 40 people and multi million dollar annual payross, regs, hr, payroll companies and types of employees, I will say now that there is zero chance to pay them in anything other than dollars
Paying one or two? Maybe. No more.
But 941 quarterly payroll taxes must be in dollars, so must fica taxes.
Mortgage, not rent. My bank doesn't take anything except check or ach.
Yes, taxes is impossible. Currently.
My grocery store takes fiat, nothing else. Gift cards for every food stop? Pass.
I didn't say or at least mean you were fake for not having kids. I said you either live in a bubble where that's possible. And if so, the your arent In the real world like me and others with literally dozens of families and our own counting on us to make sure they can live and support themselves.
I would add fuck taxes and government. But it doesn't mean dick, as I still have to pay.
Compared with what?
This world is what you make of it. If you're really in a position of power, with millions in payroll, then that's all the more change you'd have by offering the OPTION for employees to switch over.
And you should be hiring Simplified Privacy to do your corporate emails, website, cloud/docs, internal IT =)
other p2p markets. Reto Haveno, OpenMonero, Bisq, in the past LocalMonero
Also HodlHodl says "we care about your privacy", but you're on Cloudflare, with Google Analytics, and you use Gmail
Considering Bitcoin is transparent, you're basically literally handing the complete trail of funds for anything involving fiat over to the US government with your negligence.
Hahaha
Followed
Not clear to me what Strike is offering. Instead of borrowing $75,000 with $150,000 worth of Bitcoin in collateral why not just sell $75,000 worth of Bitcoin for fiat?
Fantastic. So don't use it.
Other may want use it. Who gives a shit? I don't work for Strike, so I don't care what people do, and I likely would never use it.
But there are a bunch of use cases people would want this individually and want short term loans. One of them is cap gains avoidance, particularly short term. By loaning against, you don't have cap gains.
The short term cap gains can be as high as 34%. So a 12% apr could be well worth the cost vs paying cap gains.
If Bitcoin is to become actual money, this will become more and more common, just as are helocs, mortgages, gold loans, loans against stocks, and so on.
People better get used to it. It's only going to become more financialized
One of the main reasons being cited by people is to avoid cap gains.
If "Bitcoin ... become[s] actual money" then surely there would no longer be cap gains? If there were no cap gains there would be less reason to persue this type of product.
Cap gains taxes were introduced in 1913 the same time they founded the Fed. It is a clear approach of asset stripping to introduce cap gains taxes and inflate asset values by increasing the money supply and encouraging everyone to borrow money at articially low interest rates.
Buy P2P KYC-free!
Starve the State!
Seperate money and State!
Don't fall for the traps!
#DontRiskItBisqIt
#KYCNotMe
#selfsov} separate*/*A C C E L E R A T E*****]>
yeah. and IF POSSIBLE, buy whatever in bitcoin. If not then obviously what you said.
good to see you again bro
Bisq is good enough liquidity for many plebs.
Doing $2-4k a month P2P is feasible. Is it as easy as Strike? Of course not.
I don't normally get dragged into back and forths with people online. It is not productive.
I believe we agree much more than we disagree, so take that into account when reading and responding.
Should you be spending your time and energy arguing against purchasing Bitcoin P2P? Sure, arguments can be made against it but leave that work to the SDNY.
False. At 70% LTV you get margin called at 80% liquidation.
We really appreciate your comments. We're always looking to improve our services.
Obviously, you're always free to pick the one that best fits your needs and expectations. Luckily, there are loads of builders like us creating the tools that will make the new P2P Bitcoin-based financial system a reality.
Best regards.
Just to clarify I don't recommend owning any Bitcoin in the first place.
True, happened a few times to me at TD Ameritrade. Options trading. I was winning - or so I thought. They have myriad ways of killing your winning trade in favor of the whales..only the naive or inexperienced can deny this.
