So what exactly is the drawback here? I can't find anything. Why wouldn't you just get a loan, buy more bitcoin...

thats realistic outcome

>Have to be an accredited investor to sign up as a lender
Why

This feels almost too good to be true, like buying Antshares at the $7.00 run-up only to be rewarded with $40+ in a few weeks. Shit I'm in, I've invested in shittier coins before.

It's just like that for now. The plan is for it to be eventually it will be more liberalized. They'd have to scale their team larger probably and it would be more messy so more p2p action is not for launch time.

>>Have to be an accredited investor to sign up as a lender
>Why
Because investors actually deposit fiat US $ into a SEC registered investment firm. It is basically a fund of a group of originated loans. Because of the risk or perceived risk of something that is untested in a regulated environment, you must be an accredited investor.

Why isn't it giving me an address to deposit to?

This is exactly what I did and it was my introduction to crypto.

Alright so, I'm in, and bought an Enterprise membership. Let's see what happens.

for some reason the name gives me an eerie feeling

my theory is that salt coins will be traded for more than $25 per coin because if you need to sign up and register for a membership to buy from the website there will be a convenience associated with buying it on an exchange for many traders.

email support. I had issues with the deposit screen as well. They got back to me about a day later and it was fixed.

Maker will all but encourage this behavior. It’s a great idea if the value of the collateral increases, but if it goes down you’ll get buttsexxed.

Well of course.

Im on the verge of going $600 in on Salt,

Any advice from an user? This could be big or it could be a punch in the gut.

Why it would be any lower in exchanges when you can pay your loan by Salt tokens

I don't think you can pay your loans with salt tokens. You can buy a membership and adjust the interest rate. But you have to pay it off with fiat. Maybe with other crypto but I'm not sure.

If you're looking to hedge risk and diversify in something not related to cryptocurrency, this isn't what you want. It's directly tied to the success of cryptocurrency. Also, the only thing this is good for is basement neets that invested early, or people with lots of money that already have a lot of crypto. Maybe there are other use cases, in which case it would make this bigger, but I don't know if the audience is that large. Personally, I'm interested in the service, not investing in them.

As for the token going above $25, it is of course possible. There is a maximum amount of tokens available at the end of the day... when the company has sold out of $25 dollar ones, guess what? You have to buy them from me...

>email support.

And keep emailing support.

Seriously guys this is a front company without a lead dev

Nothing but a bunch of PR people and lawyers and no working product.

They are about to get rekt by competent competitors

Its not like its an original idea

Better sell and lock in your gains

Show these competitors? Not trying to imply they don't exist, but I'm not aware of them.

The company may raise the price and/or lower the amount needed for membership if the demand is there

Erik Voorhees is the lead advisor to SALT

The dude created SatoshiDice and sold it for like 126,000 BTC or some shit and then went on to create ShapeShift.io

SALT is literally unstoppable.

when to sell? $7?

Okay. That still results in a higher price. I wasn't trying to list every possible thing that could happen, just offering reasons. That is simply another reason the price could go above $25...

Shut up, i havent finished putting all my money into it

coinmarketcap.com/currencies/ripio-credit-network/
%competitor, 1 word: Tim draper

As i'm going around shilling this coin i'm shilling myself even more. I'm about to pull funds from my margin trading account and just salt it up ffs.

Naw actually I'm out.

Everything about SALT looks shady and set up to fail. This PDF reads like it was slapped together as a front and is dripping with sleaze, the video on their website is one of those paper-cutout hands with a marker drawing clipart cartoons...

How is anyone having faith in this?

I mean, it's not like they're trying to sell trips to the moon. Their job is literally to broker agreements between accredited investors and crypto holders. How could that fail? It takes minimal effort. It's like designing a website that can do it and you're done.

yeah. the parent company have already capital in crypto. so that means you can start taking loans right away
also they made working products before, so why would a simple platform would be an issue?

stupid faggot stay poor

I don't really know about all that, I just follow my gut on almost every business decision and that's what it's telling me, specially once I look into it...

This may be a dumb question but, with my Salt can I use it toi pay the interest of a home if I'm buying a house? The whole reason I'm into crypto is so that I can be a homeowner someday.

No. Salt is only used to pay for membership. You still have to have your own crypto as collateral for the loans afterward.

what's the point then?

The token's price obviously reflects the demand for the knowledge, and access to accredited investors willing to loan a crypto holder a different currency using their crypto as collateral. What else would it be?

I think they will trade at slightly less (10-20%) that the current price on the website which will debut at $25 but has already been rumored have shown up as $32.50 on the platform during testing. They original plans actually stated $10 but this was changed earlier on. They've said it's not likely to ever sell for less than $25 through the platform.

Being able to have money without selling your crypto. Avoiding gains taxes. That's how I intend to use it.

this is what im scared about, no way the us government doesnt rape these guys right?

there have been rumors that you could use SALT to pay part of the interest on loans on the platform but i havent looked into if that has been confirmend (source some ico review)

they confirmed this but didnt put out a number yet

you can but only about 1/3 of full loan which is still great

that would be much more valuable then the membership factor plus i think they will correct the price of 25 upwards if the token hits it

You can use stock as collateral to get a loan. Why not crypto?

Oh okay. Didn't hear about this. Then again, I'm pretty new to SALT. I mostly just plan to use their actual service.

true the service is interesting if you want to list or take loans but that only takes at least 1 SALT/year. Thats nothing with the amount of SALT provided by ICO and i think they hold onto 80% of the token.

not buying more at $2

Hopefully SALT sets up an option to have some extra coins in reserve in the event of a 20% drop that it can pull from otherwise I’m not touching that shit with a 10 ft pole.

Its a way to spend crypto without paying capital gains on it. Its literally fucking amazing, I hope you own some salt.

what are you even talking about
if you offer up a loan you can accept or decline a colleteral

if the risk is high a higher colleteral is a given

SALT Abstract
membership.saltlending.com/files/Abstract_101217.pdf

>forgot pic

This desu

What is the biggest problem for any kind of financial startup like a bank, insurance, or investment company? It's getting the upfront cash to efficiently conduct business. You need a ton of capital for a lending platform starting out because you need money to lend out to a lot of people so that the law of large numbers averages out risk and you don't get shrekt by one or two unlucky defaults or bad investments starting out.

ICO for SALT solves this problem and got them to the marketcap they're currently at, roughly 200million which should be enough to conduct business.

The token is used for platform membership, which makes the initial investors who fronted SALT the capital to successfully start a lending platform happy and will get them value, since the price of the token from SALT directly is $25. The rumor is that also each token will pay $25 worth of interest on a SALT loan.

There will be demand for the token because this platform makes too much sense for crypto traders as far as liquidity and avoiding taxes, but if you're not interested in the platform the token does nothing for you besides probably making you a lot of money if the platform succeeds.

Hopefully that makes sense as far as why a token is needed.

TL;DR Service like SALT needs a ton of startup capital to get going, ICO is a good method of funding it, SALT is essentially buying back all SALT tokens at $25 worth of value if you are using the token on their platform.

I’m saying if I took a loan out I don’t want to lose all my shit if the market suddenly dips low enough and I don’t see the message in time.

oh shit that's right. Shapeshift (guys behind salt) acquired keepykey!

I just don't understand the "this is only for membership" part of all of this.

The fuck does that mean really?

It means $SALT's use case is just a token that is paid for membership in the platform.

Although it will also provide some other benefits, like being able to use it as collateral upto a certain %.

what happens if I borrow and I dont pay it back?

biz in a nutshell , you will lose ur fucking assest dumb faggot

...Dude you take out a loan by placing your crypto as collateral. Go watch their video, it's clear you do not understand how their system is going to work.

youtube.com/watch?v=1FM-wvE64ZA

jeez. read up on it a bit.

Works like this. You want 10k you give them 12.5k BTC to lock up until you pay them back with interest. If you don't pay they take the BTC.

The membership thing is to keep it legal (token for consumptive use). Everything is legally well vetted, so if or rather when the SEC is stomping all over coins, it'll be in the clear. To incentivize investors, there's more perks built-in (like the moving disparity between retail and free market price, paying off part of the interest, using SALT itself as collateral (planned) and other cool things they're allegedly working on). This will ensure a nice and steady growth in value. 100USD or more is not a fantasy when you look at the potential. I myself would love to use the service and hope it'll go live on the EU when I made my crypto fortunes.

Uhh so i give 12.5k and get 10k loan? Why not just use my 12.5k and not pay interest. This is a shit scam coin. In the real life I can get 10k loan not depositing anything just with my credit

Well you won't have to sell your crypto and miss out on any potential gains is a plus.

Also no credit checks if you have the collateral.

>Uhh so i

another dumb fagget can you go the bank and get a 10k loan for ur 12k BTC?

Yeah except if you fail to pay it back you're going to get your ass pounded, dumb faggot

You're also forgetting that if you sold 12.5k worth of crypto you'd have to pay a significant amount in taxes as capital gains. With $salt, you do not pay the cuck tax fee, but pay the salt membership fee and the interest rate which is most likely going to be significantly lower.

Look. You can pay your loans with salt tokens..

maybe they made it this way so you can establish a credit score.

they don't want pajeets and bots abusing the system by loaning free crypto

Not the complete loan, only a portion of it.

I bought some salt at the lowest point and am making good profit. I'm new to trading, how do I know exactly when to sell? Are there any signs that people look for when it's about to drop? Should I just keep the chart up at all times and just watch it? Is salt more of a long term investment?

How much %??

I believe you can pay your loan in salt but the equivalence wouldn't be 25$, that only applies to payments to salt itself (interest rates) and up to 20% if I recall correctly.

So basically this coin rides on the expectation that BTC will continue to rise to a degree you wouldn't want to ever cash part of it out..

yeah that's a big reason that I like it. I cashed out a few BTC at the beginning of the year for a down payment on a house. It was trading at $800 back then. It hurts to think of how much more money I would now have if I did not have to do that.

If salt was around back then I would have used it instead.

Major resistance at $25