Can you guys explain to me if i am a total retard or there's no git for this...

can you guys explain to me if i am a total retard or there's no git for this? the GUI to create a loan is not out yet right? what is the point of buying the token when you have to stake BTC ETH and XRP?
there is a lot of confusion.
for what i need the token?

Other urls found in this thread:

membership.saltlending.com/files/abstract.pdf
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To get lower interest rates in case of asking a loan. Actually quite useful.

so in case i want to stake 2 BTC loan, how many token should i buy? around 0.3 BTC?

1 salt to open up the membership up to 10k usd.
then you get lower interest rates with salt. you can pay back in salt indefinitely. up to you how much and how long you want to let the loan run.

interest rate will vary depending on the lender and market conditions afaik.

its collateral for your loan. did you think that you can just get money for free?

also you dont pay tax on the loan because you havent sold the crypto

i wonder if i'm going to fall due to lack of knowledge about loans.... isn't just that you deposit funds and gain money back? because the site makes it that easy...

you ask for a loan, and unlike banks that ignore your cryptos assets, these lenders will consider them exclusively.

This allows you to get debts signed in an inflationary currency (US$ for example) and pay them with your deflationary currency (cryptos).

Your debts get paid quicker if cryptos rise, which they tend to do.

Also allows you to spend money without cashing in your cryptos so you dodge capital gains.

The token will serve to lower interest rates from the network of lenders, not sure about the specifics yet.

Someone correct me if I'm wrong on something but I think this is a fucking great project.

so if i'm not mistaken
>ask for loan
>take cash and buy more coins
>?????
>profit

this is the first crypto para-bank. sky is the limit.

I guess you could do that, yeah.

As long as the lender is paid what he's owed the way you use your loan is irrelevant. Just hope your investment with that loan is sound or you double lose.

exactly. now you are getting it.

other crypto heavy institutions like exchanges, ICO startups, miners can get cash in hand and pay for salaries, expansion, more mining equipment without having to sell their coins.

So, let me get get straight...if I wanted to borrow 10k USD I would have to stake 10k in coins?

read the whitepaper

membership.saltlending.com/files/abstract.pdf

Origination: As an example, a one year $100,000 loan with a 10.00% annual percentage rate (APR) has twelve scheduled monthly payments of $8,791.59 representing repayment of principal and interest on the loan. At origination, the $100,000 loan balance is
secured with $125,000 of bitcoin, which is posted to a multi-signature wallet as collateral. The borrower and lender each retain a private key to the wallet, along with a third-party custodian and our SALT collateral management oracle. In this example, the collateral balance equates to 50 bitcoin valued at $2,500.00 per bitcoin. As a result, the loan has an origination loan-to-value ratio of 80.0%. Stated differently, the loan is overcollateralized by 25%.

so if i pay the schedueld payments with the loan without spending money....

You lose money on interest rates

whatever you do, never take a loan, never go in debt. you will regret it.

Thanks, so what happens if you borrow 100k, stake it with 120k coins and the market crashes hard? So now the coins are vauled at 50k but you still have the 100k cash. What will prevent people from taking the money and running? Then they could rinse and repeat with a false ID.

but i can pay as lender right

if i understand correctly you can pay back interest with salt

>t 50k but you still have the 100k cash. What will prevent people from taking the money and running? Then they could rinse and repeat
>read the whitepaper
>membership.saltlending.com/files/abstract.pdf
read it i 've already done it and i can answer to your question

and yet people do it everyday

I read it, it still doesn't explain how major volatility would be addressed. Basically they warn you to deposit more bitcoin if the market goes down, however this doesn't address the matter of if the market crashes 50% in 1 hour. Basically the company would be left holding your bags.

you still need to pay it back + interest. you lose. good day sir.

Lmao and what happens if you dont pay it back? Cyber police raid your house?

Even worse
fucking pajeets raid your chan.

So basically this coin is like a pawn shop coin.

And the borrower has no incentive to pay back the loan if the collateral has lost major value. Dumb idea and destined to fail.

exactly like trading on margin.
destined to fail

Collateral can always lose major value in any potential loan.

You think a house in Detroit as collateral has not lost value due to political actions through the years?

If lender is willing to assume the potential catastrophe of collateral value loss in exchange for a good interest rate then the success of this project will depend on the stability of cryptos, betting against this is betting against cryptos in general.

Salt is the solution to give crypto rich NEETS cash to buy normie stuff without having to cash out crypto. Epic