Bitcoins - about to hit $5,000 per coin today!

[Theoak*]

What place did you use for the loan? A lot of people got fucked from celsius using their platform.

ledn

[Theoak*]

What are the refinance fees? Which entity is giving the loan and taking your BTC as collateral? What if they go up in smoke like FTX / Celsius?

We will likely have another bear market. When the BTC value declines you might be forced to pay off the loan. How will you pay it off? By selling BTC?

I fail to see how anyone can use BTC as collateral to get a loan and not end up selling BTC to pay off the loan. You won't be able to keep refinancing until you don't have to offer any BTC as collateral.

Most of my loans are done in  a bear market, I have over 400k in loans. I put in what I can afford to lose. Ledn outsurvived them all.

I have a loan coming up in that needs to be repaid 60k for 2.7 btc collateral. If I reborrow with another 2.7btc as collateral  that's 133k I get. Repay my existing loan and have 73k left over with same amouth or collateral.

[gib]

For those interested in alts, Uniswap and Filecoin are seeing continued surges in trading volume, which if you look at prior patterns, usually point to a surge in price coming in these tokens.

[obsidian]

Most of my loans are done in  a bear market, I have over 400k in loans. I put in what I can afford to lose. Ledn outsurvived them all.

I have a loan coming up in that needs to be repaid 60k for 2.7 btc collateral. If I reborrow with another 2.7btc as collateral  that's 133k I get. Repay my existing loan and have 73k left over with same amouth or collateral.

Calculations based on $800,000 worth of BTC at $20,000 per BTC:

Initial Loan Details:
BTC Pledged: $800,000 ÷ $20,000 = 40 BTC
Loan-to-Value (LTV): 50%
Loan Amount: $800,000 × 50% = $400,000

Interest Calculation:
Assume an interest rate of 10% per year.

Annual interest = $400,000 × 10% = $40,000
Over 3 years, total interest paid = $40,000 × 3 = $120,000

After 3 Years:
BTC Price: Bitcoin is now worth $100,000.
BTC Collateral: You still hold 40 BTC (assuming no liquidation or additional collateral was needed).
Collateral Value: 40 BTC × $100,000 = $4,000,000.

In this example you're paying $120,000 in interest. That's 1.2 BTC @ $100,000 / BTC.

I still fail to see how you avoid forking over money to LEDN.

[obsidian]

For those interested in alts, Uniswap and Filecoin are seeing continued surges in trading volume, which if you look at prior patterns, usually point to a surge in price coming in these tokens.

Doge, XRP, and ADA have done well in the past 30 days. My gains with those three are over $100,000 since Trump won—lol! Of course, these are unrealized gains. I will take some profits next year. I am not going to sit on the sidelines for another four years as I did in two previous cycles.

Your BTC gains must be close to $2 million!

[Theoak*]

Calculations based on $800,000 worth of BTC at $20,000 per BTC:

Initial Loan Details:
BTC Pledged: $800,000 ÷ $20,000 = 40 BTC
Loan-to-Value (LTV): 50%
Loan Amount: $800,000 × 50% = $400,000

Interest Calculation:
Assume an interest rate of 10% per year.

Annual interest = $400,000 × 10% = $40,000
Over 3 years, total interest paid = $40,000 × 3 = $120,000

After 3 Years:
BTC Price: Bitcoin is now worth $100,000.
BTC Collateral: You still hold 40 BTC (assuming no liquidation or additional collateral was needed).
Collateral Value: 40 BTC × $100,000 = $4,000,000.

In this example you're paying $120,000 in interest. That's 1.2 BTC @ $100,000 / BTC.

I still fail to see how you avoid forking over money to LEDN.

Cheers thanks for the math, I'll let you know how  it goes in another 4 years when I've yet to sell a btc and continue paying interest.

[Mayday]

[quote author=obsidian link=topic=574601.msg10326314#msg10326314 date=1733258260

I still fail to see how you avoid forking over money to LEDN.




What he is doing is fine. There is no issue with the numbers as he said he takes the loan during the bear market and therefore gives him headroom to absorb interest (depending on the contract he can not make payments and instead let interest eat into the capital) and downward price action.

The potential flaw you are looking for is:

What The masses don’t understand about using collateral loans is they are deferred future tax events. The moment liquidation, sale, transfer occurs, you trigger those deferred tax events. Mongs think the loan is debt when it’s really deferred future capital gains based on profit which is taxable.

Make sense?

[gib]

1.3% to go on BTC to hit the 100K barrier!
Uniswap and Filecoin are spiking. Eth also nicely up.

Here's why.

https://www.cnbc.com/2024/12/04/trump-plans-to-nominate-paul-atkins-as-sec-chair.html

[SouJerz]

I already said Saylor was a legend so far but it was about this peak and next bear. He survived the bear, awesome! He has since doubled down, I hope he wins because it’d be the most awesome statue worthy move.

Does no one realise I bought the bottom, sold the 1st top, bought the 2nd bottom and are in position I said I would t give all movements because I only copped flack for it 😂

When we go over 100k this year like 99% guaranteed, we can agree I got this cycle horrifically wrong. I said 76k, we are at 76k and I said a peak in October is seasonal….  Price hasn’t destroyed my model yet, go above 100k this year and it will be. Unless Saylor does something really dumb, over 100k this year he likely is one of the greatest players of all time.

We could say over 100k this year and I delete my account. Under 100k this year and delete yours?

 Popcorn ready for Mayday to acknowledge he got it horrifically wrong and he is now deleting his account. 


Welcome to 100k a bitcoin!!!!

Inside you are two wolves and both are wrong!

[loco]

Welcome to 100k a bitcoin!!!!

[Mayday]

 

[SouJerz]

KEEP STACKING SATOSHIS!!!

[SouJerz]

76K is the top!!!  .

[Campeon Del Mundo]

   Today is a day I will never forget...  I've believed in crypto since 2019 ...

[Andy Griffin]

$100K, just as my charts predicted.

[gib]

$100,000.00!

[gib]

Hope all u guys got some. You will be able to retire and just chill and train if they ever get to 100k per coin.

Now a Legendary Bitcoin Quote... 

[gib]

Over the next few weeks, I think we can look back and revisit some of the prior posts in this thread, giving those who were correct a moment to gloat, and to shame those who made fools of themselves and remind them that incorrect statement on GetBig do have reputational ramifications...

I'll get started..., and Mr Anabolic, your time for a roasting has well and truly arrived, so be forewarned, you will be a subject of numerous pages of ridicule. If you are out there, please fman up, and now finally admit how wrong you were...

Your posts here have demonstrated a total ignorance for real value, market cycles and asset bubbles.

 

[BigRo]

How much money have you actually withdrawn as cash?

Going by your avatar it seems your a believer in Satan.

[Gym Rat]

Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M?
His Ex-Girlfriend Reveals It Was She Who Threw It Away.

https://finance.yahoo.com/news/remember-james-howells-lost-hard-003221136.html?

[gib]

How much money have you actually withdrawn as cash?

BigRo - you are looking at this the wrong way around. You don't "cash out" of Bitcoin. Rather you "cash out" of fiat, and into Bitcoin.

Please read all 147 pages of the BTC $5000 thread and you will understand ... www.getbig.com/boards/index.php?topic=574601.0

[ProudVirgin69]

BigRo - you are looking at this the wrong way around. You don't "cash out" of Bitcoin. Rather you "cash out" of fiat, and into Bitcoin.

Please read all 147 pages of the BTC $5000 thread and you will understand ... www.getbig.com/boards/index.php?topic=574601.0

Ok but then what do you do when you need to exchange money for goods or services?

[gib]

Ok but then what do you do when you need to exchange money for goods or services?

First, you NEVER sell your Bitcoin, unless you really really need to.

Second, if you have to, you borrow against it (borrow in devaluing fiat, against infinitely increasingly in value, and perfectly scarce BTC.

Third, when you pay for goods and services, you do this with declining (and infinitely printed) printed Government money. You get rid of shit money, and you save in a pristine global commodity of perfectly limited supply.

[ProudVirgin69]

First, you NEVER sell your Bitcoin, unless you really really need to.

Second, if you have to, you borrow against it (borrow in devaluing fiat, against infinitely increasingly in value, and perfectly scarce BTC.

Third, when you pay for goods and services, you do this with declining (and infinitely printed) printed Government money. You get rid of shit money, and you save in a pristine global commodity of perfectly limited supply.

I don’t know of any reputable lenders that will let you borrow against bitcoin.

[gib]

I don’t know of any reputable lenders that will let you borrow against bitcoin.

Give it time - you will...

So many examples:

https://saltlending.com/
https://archlending.com/
https://rocko.co/
https://aave.com/
https://DBS.com/
https://www.home.saxo/

Its actually very easy, as almost every broker now allows you to borrow against an BTC ETF.

And we will increasingly see banks totally integrate BTC, such that it will (obviously) be far easier to borrow againt BTC, then against a house, for example.