How can you create a loan with SALT when there's no such thing as credit score on the blockchain...

How can you create a loan with SALT when there's no such thing as credit score on the blockchain? What if someone disappears or uses fake ID.

SIN NUMBERS DONT EXIST ON THE BLOCKCHAIN.

Who cares lets abuse the absolute fuck out of it immediately until this whole market crashes into the dirt

... you dont need a credit score to get a loan with salt

I like your style pal

collateral

Salt is an actual company that uses tokens traded on the blockchain as a way to secure membership in order to access these loans. I actually just did a report on it for class and it's pretty neat. All the loans are also backed by collateralized crypto assets and are mostly meant to let you use the value of your coins without selling off your position.

How does it stop someone from running?

...the collateral?

Collateral is in a smart contract that gets released if the borrower does something that a person with a low credit score would do.

Bloom Token.

you actually look like me wtf

you put up 125% of however much you need to borrow you absolute mongoloid. if you dont pay the loan back the lender MAKES MONEY YOU FUCKING RETARD! THATS WHY! LEARN TO DO SOME FUCKING RESEARCH!

Secured loan with crypto

also your ugly ass looks like willem dafoe. i bet you could suck the chrome off a '56 chevy you faggot.

wtf is the point of borrowing if you have 1 and a quarter of what you need? I need 10k so bad that i'll borrow 10k from you, and i'll leave you 12.5k collateral

you get liquidity without having to cash out your cryptos, which could rise if you sell them.

Dude the point is that you don't have to cash out, hence no fees, capital gains taxes, and high opportunity cost (due to BTC/ETH continuing to moon).

1) Avoid paying capital gains taxes
2) When your crypto is used as collateral it will still gain value and you'll get it back when you're done paying the loan.
It will be much better to use salt loans if you can afford to make monthly payments with your regular income.

) Avoid paying capital gains taxes
IRS is laffing

interesting. what kind of interest do you pay if on time?

They can't tax assets that you don't sell.

They can murder you then subject you to an inheritance tax.

>inheritance tax

Someone hasn't been keeping up on the news.

it's fully collateralized with highly liquid assets.
it's actually an extremely overpriced option.