Why isn't there more discussion about SALT here? Charts show we're at the floor right now and in an accumulation period, and their platform goes live this December.
For those unaware, SALT enables you to put up your crypto (BTC at first, then ETH, XMR, and eventually others) up as collateral in return for fiat. It's the opposite of predatory lending, as you put up 125% as collateral compared to the usual 10% you'd put up for a loan.
Ex: I put up 125k worth of BTC into the smart contract, and in return I get 100K USD sent to my bank account. As long as you follow the terms of agreement and make my payments on time (which a portion of the interest can be paid with SALT tokens, yet disclosed what percent), you get back all your BTC you put up at the end of the loan, which by then has probably appreciated.
Uses would be as a way to avoid capital gains tax and as a way to not lose out on your crypto gains. It's the same idea as people putting up their house, cars, and stocks as collateral while still seeking capital.
Token use: Each token is worth 25 USD via the SALT platform, which you buy a membership with or pay off a portion of your loan, and in the future they say SALT will have the ability to be collateralized as well. Right now, it only trades for 3.91 on the exchanges, with a floor of around 4500 sats, so there's a lot of incentive for the team to get the price up, as they eat the cost difference. Also, as soon as the tokens are used on the SALT platform, they stay there and are off the exchanges forever, thus matching more to what SALT prices it at.
Anyways, I think it will be huge when it goes live, and we will see an easy x5 or more at platform launch alone, as volume is so low right now and the uses for this are so big.
I wanted to start this thread to get some feedback and some discussion going. I don't get why it's not talked more about around here, as it's an actual coin, with a soon to be working product, and great gain potential.
i want them to accept EU customers so I can take advantage as sooon as possible.
cant believe burgerboys get to take advantage first :(
Bentley Lewis
Well, I wouldn't have found out about it if it weren't for Veeky Forums a long time ago, so thought I'd return the favor. Not everyone around here is a scumbag, and I like to help out NEETs!
William Jackson
They'll get to you someday, user. After a proven track record in America, eurozone expansion will be a lot easier.
Henry Cox
Catching opportunities on time matters in this market. Let s catch the upcoming ones. Searching for D.VA pump
That will give you a fortune Come and join.
Samuel Lee
I've been following SALT for the last few weeks. It is an accumulation around the 40k mark. It's too obvious to miss. I had a chat with Sean (the CEO) about the price discrepancy in their unofficial discord. He stated that SALT will be taking the hit for SALT tokens exchanging under the set value of $25 but they will also be buying these tokens off the market. I'll post those talks.
Joshua Myers
dude, salt is great and the tight channel that it is in right now is a tell-tale sign that someone is accumulating. Those large market dumps are just whales getting impatient. and it instantly bounces back. this is the new floor.
accumulation is the easiest thing to look for, the chart goes FLAT and says there..
Brandon Ortiz
as a tokenholder, what do I get in terms of interest revenue?
is this valuable as anything other than a flip for higher token price?
Samuel Torres
...
Carter Lopez
It's not a security, so you don't gain any interest just by holding the token. You use the tokens to buy a SALT membership, to pay off a portion of your loan, and one day as collateral. Also, they have a credit card planned for next year sometime, where you build up your credit rating based on your standing within the SALT network.
So it's valuable if you want to use the platform, and also definitely valuable as a flip because the price is only going to exponentially grow when the platform goes live and awareness around it develops. I personally will hold half my bag for use on the platform and flip the other half.
even getting to $25 minimum is 5x. once the salt team actually launches all their marketing there will be a big push for it.
Adrian Wilson
i dont remember where i saw it but they also said they may turn it into a staking coin. so that may happen
Oliver Martinez
That sounds like nonsense, but the coin will definitely 6x in the near future from its current price to New Years.
A question to Sean in the Discord
Austin Green
How is this any different from Bitconnect? From my point of view it seems pretty similar.
Nathaniel Smith
yeah dont these both sound like ponzi schemes
Grayson Reed
...
Brody Jackson
No, BCC is an HYIP, where they have access to all your funds, and need an ever-increasing userbase to pay off interest to their current members. It's a house of cards that will fall when a few big whales pull out, and they won't have enough money to play with to pay out the remaining members.
SALT is just a platform that connects a borrower and lender, and never has access to any of the funds put up as collateral into a smart contract. The collateral is stuck in that SC unless the terms of the loan are breached, in which case they lender receives the collateral in full, and the loan-breacher keeps the fiat they already received.
Juan Butler
Really sounds like current mainstream loaning issuers just SALT isn't basing who they lend to based off of credit score. Bringing the Blockchain to this market is a great idea and I cant find anyone else in the realm. Sounds like a great investment, not only because of the service, but hell you cant beat an almost guaranteed x5 return. Def going to be picking this up in the near future.
Ryder Roberts
so.. i loan say $125k worth of BTC as collateral i get $100k USD in my bank account? then who i lent to pays off the loan, and i collect appreciated values. plus not have to pay capital gains?
Chase Taylor
You need to sound more natural when you're shilling your bags, user.
Gabriel Robinson
lol
Levi Edwards
exactly correct
David Cox
How much will the membership tokens cost if buying directly from SALT? And, doesn't economics dictate that the price of SALT on every exchange will reliably track the price of SALT on their website once the price is set and the platform operational? An equilibrium if you will...
Hunter Ortiz
For the lender, SALT is targeting bigger banks and organizations (at first, complete peer-to-peer is planned down the road) that want to take advantage of the cryptospace in a relatively safe way; whereas for those borrowing, yes, you will get back your collateral in full once the loan + interest is paid off.
Jackson Mitchell
Forgive me if this a dumb ass question, but what happens if the person who has the loan never pays it back?
Couldn't I just get your 125k worth of BTC, give you 100k and just fuck off?
I haven't looked into at all hence the newb question
Joseph Johnson
>Why isn't there more discussion about SALT here? because it's not out yet, i have mine and im very bullish
Chase Allen
Literally worthless coin. Actual value = $0. Whole thing is only going to last until all the $0.25 presale coins are sold. Salt will never be above $5 again.
Josiah Bailey
Then they sell off your BTC to pay off the loan, 0 risk for lenders
Kayden Jones
Because their ICO structure was
2.0 million SALT @ $3 each (sold out) 1.5 million SALT @ $5 each (sold out) 1.0 million SALT @ $7.50 each (currently at 93% left)
Previously in the pre-sale approximately 10 million SALT were sold at $1:50. Early adopters who assisted with the build out of the concept were also able to purchase earlier in the year approximately 35 million SALT at $0.25 and 5 million SALT at $0.75.
1M at $7.50 35M at $.25 no thank you
Ethan Price
lol look at some of the cryptos out right now. They actually dont have a platform and a real world solution and they are getting pumped. SALT actually has something that has a use case. Once more mainstream institutions get into crypto the more blockchains like SALT are going to get pumped by new money. Only a matter of time. Lending is a huge market, this just brings them a new market they can make money off of.
Matthew Price
LOL if that 5x is guaranteed i will go all in
Easton Richardson
what is to stop a mainstream institution with billions in r&d funding from developing their own in house solutions for this sort of thing?
Ian Perez
I think all the hyperbolic negative comments are actually people who are not done accumulating and want to keep the price down.
Xavier Price
That's fucked. OP what is your counter argument to whales owning a fuck load of SALT at a ridiculously low price?
Jaxon Butler
Those who bought at .25 I doubt are still holding on to much of their bags, but for the 7.50 holders you have a point. However, I think demand will be high enough and rapid enough at launch that it will eat through those, and while you will get many 7.50 holders who will want to dump at that price because they've come to hate the coin by that point, a fair amount I can see wanting to hold on even more when they see such a rapid rise.
Andrew Hughes
True, but if every lender came out with their own platform the market would be way too crowded and they would all be making less. Why not used an established product so your not throwing millions of dollars in something that you wouldnt even be able to sell to your board. SALT has an early market advantage even though they dont have the funding of a multi national banking institution. There is always room for improvement and this will def not be the last blockchain that will come out with a platform like this, but they are the first and no one else is even on the radar.
Juan Nguyen
that's why SALT dumped right away, and has been in a downtrend until Nov 1. which is now reversing
Owen Mitchell
Wait, so I buy in now at $4, and tokens are going to be bought/burned until it reaches $25? Something doesn't seem right here. Too good to be true.
Bentley Martinez
There's no token burning. You can just buy the token on one of two places: exchanges and SALT's own platform. Once the tokens are used on SALT's platform they stay there forever, where they set the price (25 now, but they will raise it as the market cap increases).
Charles Morris
Do we know an exact date of launch?
Cooper Moore
They haven't said anything other than before the end of this year.
Dominic Thompson
6k bag at 1.50, still hodling, still believe.
Kayden Moore
i actually emailed support and asked a few weeks ago. he said in december. can just pray. i dont even care about speculating the token, i just wanna use the service
Leo Diaz
Hey paid shill samefag, we know your secret, stop scamming people
