Bought 1000 SALT

No really I want to hear why you think Salt is crap.

I have none, it looks like a decent coin that I missed

Presale investors got salt for .25.

>buy first ask questions later
lmao. you're very luck you will probably be okay with salt.

Yeah I wanted to have enough SALT because I wanted to use this service to take out a fat loan every time bitcoin takes a dive so that I can accumulate more bitcoin than normal at those times.

If the token goes up in value that's just a plus.

twitter.com/saltlending/status/922921511366692864

That's a harsh one but I'd guess if those investors wanted to step out they did so already considering the price of SALT atm.

i like this

Buy as much SALT now as you can.

This is going to change the way people are able to spend their crypto forever.

By setting up a loan and tying up your crypto in a smart contract, you BYPASS the taxable event of actually selling your crypto.

This video has some really good info about it here:

youtu.be/KarlukxdShM?t=2m21s

Eric Voorhees is one of the key people of this project among some other big backers.

They have been doing roadshows and will be launching Q4 this year. Not much longer to go. Their dashboard is already functional.

imgur.com/a/vk1aG

saltlending.com

Oh did I mention that memberships will be tiered giving more access to collateralized blockchained backed loans?

Lowest tier will start from $25 giving you access to $10K in credit.

There is nowhere else on earth you can gain access to $10K for as low as $25 when you look at how much banking fees cost its typically 1% or more.

Right now you can buy their token on the open market for under $2.50.. more than 10x potential here easily.

Check this out as well:

youtube.com/watch?v=ken4CBBrMPA&feature=youtu.be&t=3m9s

membership.saltlending.com/files/abstract.pdf

You can also pay off part of your loan in SALT tokens, and they will be bought back by the company just below retail price to resell back to new lenders/members wanting to either give or take out loans.

Its not just a membership token, its also a way to accumulate now and gain credits that are going to be worth nearly 10x more towards paying off any interest on your loans.

membership.saltlending.com/files/abstract.pdf

Salt is the best coin. You get to borrow against your crypto at low rates so you never have to sell and pay taxes. It's how the rich avoid taxes legally (debt against their stocks). Best part is the interest is tax deductible unlike loser credit card holders. Feels good to be rich.

tenx, safex, latoken, syscoin
what do I sell for salt?

Some questions about this. Are Salt tokens going to be burned by the company or will the 12 million salt stay in circulation forever?

Where does the "profit" that Salt makes go towards?

nosalter here. but damn i'm hyped off those vids

how much salt to hold for premier tier?

1 salt a year for membership. 10 salt a year for premier 100 salt a year for enterprise.

so you only need 100 salt to make it? Any more seems like it would be redundant, at least as far as their services go. Unless of course you were trading it.

steemit.com/bitcoin/@crypt0.critic/salt-lending-membership-sale-how-and-why-everyone-can-benefit-from-a-salt-membership says
>(30 salt per year for premier)

10 sounds much better for those sweet 1h term loans for buying dips. i'll hodl at least 100 into 2018

No there are multiple purposes for their coins.

You can pay back interest using salt for example. 1 salt=-$25 off of interest.

Meaning if you hoard Salt right now you can basically pay off a fuckload of future interest. I intend to do this because I want to take out a big loan for when BTC crashes hard again. I will then just pay off the interest using the Salt I already bought today.

Except of course if the token rises like 5x its value. (I'm ok with both which is why this is a great deal for some people to buy, it's win-win)

wait, at $25? I thought it was at market rate? That seems pretty good.

Read the text on the right in this picture

Where do i buy Salt from? Whats a good crypto trading site? I want to cash in my BTC tomorrow and move to somthing that isn't without a doubt going to the floor. - Any other interesting cryptos?

xmr
xvg
coss

dyor

I bought it from Binance. It's a fucking shitty Chinese exchange filled with price manipulating bots. But it's the only real place with any serious volume to buy from right now.

I think salt is the best one to buy right now because even if the price of the token drops you can still use it to take out loans to buy some BTC during crashes. So you'll make your money back either way.

I got mine off shapeshift. Don't have to worry about exchange risk.

decentralized lending is the new kickstarter.
90% of your investments won't be paid back and idiots will REEEE after all their money is gone

Can you explain in detail what you mean?

It seems like you are confusing this system with a ponzi like Bitconnect.

This is actually a peer-to-peer loan system where you get paid fiat money.

Or do you mean something else? Would like to hear your reasoning.

are there credit scores? how do you determine if someone is going to pay you back?
Do you have legal recourse if they don't?
or are they some chinese or nigerian scammer that will run off with your money?

This is 99.999% of the problem with lending. If you don't have them by the balls they will just not pay you back.

At first I was skeptical about this because I thought it would be a security and be a hassle in many countries. It got listed on Bittrex which makes me bullish because they are a US based company and are trying to be SEC complaint

Nah you are mistaken it doesn't work like that.

If you want a $100,000 loan you have to have $125,000 worth of cryptocurrency locked into a smart contract.

Then when you pay back the $100,000 and interest you get your cryptocurrency back automatically (since it's locked in a smartcontract and not in the hands of the lender). If you don't pay your loan back the smartcontract will give your $125,000 worth of cryptocurrency to the lender as compensation for his $100,000 of fiat.

This is NOT a scam. You as the user are taking out the loan not lending to them lol.

But man, we are on the same side. I fucking hate those bitconnect type of scams. Please read some more about SALT. You'll see that it's not a scam at all. If you have any more questions ask away.

also to add onto this, you do not want to fucking add volatility to the lending equation.
If I lend $500 to someone, I want $550 back.

I don't want to lend $500 then get $125 while the loan is technically "satisfied"

I'd maybe keep tenx

They have solutions to this. Read the white paper.

When the value of your crypto deflates 20% you get a couple of hours to pay the difference in fiat or you lose your cryptocurrency.

(this means the lender always has 5% profit since you have to hold 25% more cryptocurrency than the value of the loan you take out).

It's pretty solid. Read the white paper.

The entire joke is that if they want to fix this tax loophole they also have to fix the loophole that many rick stocktraders also use to avoid taxes. Meaning the US will do jack shit to get Salt banned too much vested interest in this loophole.

>not a scam
>VC sale price of $.25/token vs public sale price of $25 a token

what did he mean by this

Not sure about that. I thought you could use salt to get up to 2% off the interest rate (which is by no means shitty). You also need premium membership to use salt to lower your interest rate.

>90% of your investments won't be paid back and idiots will REEEE after all their money is gone

no. salt is legit.

I meant a literal scam. Like the ponzi bitconnect "lending, daily 1%profit!!!!!" that the other user was talking about.

yeah the presale 0.25 cent stuff is really harsh but if you look at the graph history it seems like most people that wanted to step out that invested at that rate already did and are now waiting for a genuine rise before selling more. Again this is only relevant if you want to sell Salt instead of using it yourself to take out a loan.

premium membership is 10 salt a year which is $25 if you buy it at the current rate. Seems reasonable.

>too much vested interest in this loophole
That's why buffett sticks with the 15% tax rate on long term stocks. No need to use offshore accounts which get raided all the time. Keep the loopholes simple and classic.

JUSTBOUGHT100K

Loaned*

But yeah this was in no way meant to be a shilling thread lol. More about how to use salt to accumulate more BTC during crashes and how to avoid the tax-man when you want to have some old fashioned money.

you mean the lender has to have 25% more in the account to lend it out?
your wording doesn't make any sense.
but the smart contract part doesn't help the lender. the lendee's funds would be useless if they were locked up.

It might not be a "scam", it's just a stupid idea that's not going to work.

>Guy A wants $100,000 loan
>Guy A has to put $125,000 worth of cryptocurrency in a smartcontract to receive loan
>If Guy A pays back $100,000+interest in monthly increments to Guy B he will automatically get his $125,000 worth of cryptocurrency back (probably worth more than $125,000 when he gets it back).
>If Guy A doesn't pay his loan back Guy B will automatically get the $125,000 worth of cryptocurrency from the Smartcontract
>If the cryptocurrency value depreciates 20% somewhere during the lending period then Guy A gets an automated message to either give that 20% with fiat, more cryptocurrency or default the loan and give the cryptocurrency that was locked in the smartcontract to Guy B.

Makes sense?

ok finally found this on their website
>SALT does not perform a credit check on borrowers, we do perform full Anti Money Laundering (AML) and Know Your Customer (KYC) verification
>no credit checks
looool this is going to attract so many foreigner pajeets just looking to take the money & run

Please read my post above yours. it's literally impossible to run away and profit from the situation.

Hell the lenders probably HOPE people don't pay their loans back so that they can make a quick profit by getting the cryptocurrency.

the whole point of loans is that you don't have money, if you have money then there's no need to take out a loan.
what kind of guy with $125,000 wants to lock it up so he can borrow $100,000? It makes no fucking sense

I'm gonna take out a salt loan to pay my taxes next year. Fuck the man!!!

I'm kinda torn. I want to buy more salt now but I think ETH will moon after the shenanigans with BCH being pushed by miners and BTC and the new fork has happened and Salt might not have mooned by then and I don't want to miss that ride.

That said I have a bunch of salt already. Guess I'll just cash out 1/8 of my salt when it hits ~20USD and reinvest it into even more of my evergrowing collection of "it has good fundementals it might moon when product launches XD" coins.

Token purchasing is an addiction and I'm scared. I feel a compulsive need to research and put 2 or more ETH's worth of money into a new token every 3-4 days or else I get withdrawals.

Even if I get lambo rich over the next ~20 months if 3 or so of my moontokens take off I'm still going to be addicted to putting shekels into new tokens its retarded.

I'm retarded.

But at least I'm not 50% of my portfolio in link retarded.

You don't need credit checks for collateralize loans

If you haven't read the Abstract already then just watch this

youtube.com/watch?v=DsQXQYREZLc

Where to buy salt?

Ok I'm starting to think you are just trolling right now.

A lot of people don't want to sell their cryptocurrency because it'll be worth more in the future. So they'd rather take a loan so that they can have both money to spend and have an insurance that they can get their cryptocurrency back at almost the price they paid for it.

Another usage is that if you sell your cryptocurrency you'll have to pay taxes over it. A loan is debt taxes work different on it so it is beneficial to take out a loan instead of selling crypto because it's cheaper, lol.

Lastly my personal use case. When BTC crashes again I want to buy as much BTC as possible. But I can only have X amount of money to spend on new BTC. Taking out a loan by leveraging my crypto means that I can buy a shitload of BTC at the low price after a crash.

Then I'll reduce the interest rates with Salt I bought today and slowly pay back the loan each month. When the value of my BTC has risen again I just sell maybe 60-70% of my (new) BTC to fully pay off the loan and thus I made 40-30% BTC profit by taking out the loan.

If you still don't get it after this then you don't understand the concept of taking out loans in the first place.

> $100M market cap compared to ETH overbloated $30Bi market cap.

You do realise even if ETH moons, SALT has so much more upside. At least 5-10x.

Do you see ETH doing that in Q4? I don't.

I see SALT platform released Q4 since every day they're tweeting and posting on Telegram its coming very soon.

I'd say right after the BTC fork.

You can find a full list here

coinmarketcap.com/currencies/salt/#markets

why didn't you just say that in the first place? I thought this was about loans, not just tax avoidance.
it's a way to cash out without incurring capital gains

That's one of the actual uses, yes.

you are literally fucking retarded. your mom should have aborted you.

> This right here is why we're fucking mooning by the time all the plebs figure this out.

twitter.com/saltlending/status/922921511366692864
Scroll up.

People don't understand.
When interest rates are practically zero, you pay practically no interest to borrow against your assets. It's basically the same thing as selling, except there's no capital gains tax. Also the investment interest is tax deductible. Try deducting your credit card interest.

What do you mean a salt token is worth $3 but the company will accept it as $25? What the fuck?

You can lower your interest rates on loans with Salt. 1 salt gives you -$25 interest payment.

Read the text on

It's worth less than 3USD on exchanges user.

im confused if its -25 in interest payment then whats stopping me from using my salt token as collateral and running away with the extra $22?

When signing up for salt, is Binance a valid Ethereum Address?

I'll go with "No" but I have no idea. Don't keep your tokens on binance for too long. They will always be a shady chinese exchange.

I don't understand what you mean. You realize that the crypto you put up for collateral is locked within a smart contract until you pay off your loan or default right?

Sorry im a bit of a brainlet, why are you guys considering this an easy x5 to x10 again?

>Don't keep your tokens on binance for too long.
Then where do I move them after I buy?

Keep them safely by sending them to your Ethereum address

Because the lending platform will release somewhere in December. This in itself will already pump the token.

Then the service can be used a lot of people are going to use it as a tax loophole. And because you can reduce your interest rates with salt people are going to buy up salt from the marketplace because it's free money if they reduce their loan repayment. This means there will be a high demand on salt from then on out.

Private wallet. MEW or Ledger.

Because people can use it to provide (or in this case, detract from interest owed) the value of 25USD, in addition to unlocking the ability to take the loans.

The token itself is ~2.5USD on exchanges now so it's trading at around 10 times less value than the price roof SaltLending is enforcing with its 25USD price for selling it directly and 25USD worth in paying off interest on your loan.

One of the most retarded projects in the realm of crypto

Please explain why.

I know you're just trying to buy more of it cheap before it can be used at retail value.

So its pretty much guaranteed that Salt's value would be greater than $3 but never more than $25 since people can choose to pay 100% of their interest instead if SALT trades for $25 and above? Am i getting it?

No Salt said they would increase their salt store price when market price approaches $25.

Have you suffered from some kind of brain damage?

This means the price can go higher than $25 but that's a long time off man. wait until it launches in december at least.

This opportunity isn't going to last long

>have 10 bitcoins
>deposit 5 bitcoins to get enough money to buy another 4 bitcoins
>ovet time bitcoins price goes up
>pay off the loan by selling some of your bitcoin that has appreciated in value
>end the year with 11 bitcoins without adding in any extra money

ELIX will rip you salt guys a new one.

You still need Salt for other things such as paying their fees based upon your membership. so the demand could keep growing even after $25 is reached. Especially because salt wants to raise their own store token price so the market will probably always offer the cheapest Salt and thus there will always be some demand for salt within the marketplace. But yeah the pump to $25 will probably be the quickest after which it will cool down.

Took a look at their white paper and roadmap. They will launch at LEAST 6 months after the working product of Salt. That is an insanely long time in the crypto world. Salt could be the defacto established loan/lending platform by then.

Also the team behind ELIX is far less experienced that the team behind Salt. And the incentives behind lending/loaning doesn't seem to be as balanced as on Salt.

It could be like how Neo is to ETH though and still be a profitable investment. But it's really hard to fight established giants in crypto and a 6 months headstart might be insurmountable

elix is vaporware and a scam coin did you even read the shit on their website?
They explain exactly nothing about how they are going to achieve anything and they appeal with convoluted "free money" schemes with that parent-child elix generation bullshit that doesn't even have any function.

It's pure scam garbage.

Whoops second half of was meant for you.

I'm feeling Salty ;)

are you people actually fucking retarded. is this the /r9k/ board?
>taking out a loan to invest money? What? You have to be completely retarded to do something like this. drink bleach and end your miserable life

So we all know we are going to the moon, where is the best place to buy salt with real money?

stay poor

>t.leverage

...

Shapeshift or Binance.

So you are telling me if bitcoin crashes to $3000 tomorrow you wouldn't take out a loan to buy more of it? I wish you good luck in the crypto market, you need it.

Grocery store

top keks

>Bought 1000 SALT

Hope you picked up some of these

saved