Can someone explain SALT to me? With 1 SALT I can borrow 10k? Do I need 10k+ in collateral?
Can someone explain SALT to me? With 1 SALT I can borrow 10k? Do I need 10k+ in collateral?
Hudson Lewis
Tyler Garcia
I don't understand SALT full either.
By buying 1 SALT on the exchange what am I actually buying? The ability to get a loan?
Also, lets say I take out a 10k loan and back it against BTC, what happens if BTC price crashes and I don't pay my loan back? Surenly they would lose money?
Wyatt Watson
>logo is literally a pyramid
Cooper Stewart
Bump I suppose. Their platform appears to be up and accepting SALT, I can pay for membership, surely someone's tried?
Gabriel Jenkins
>Do I need 10k+ in collateral?
No its free money.
Read the fucking white paper.
Liam Jones
READ THE FUCKING WHITEPAPER
"what happens if BTC price crashes and I don't pay my loan back? Surenly they would lose money?"
they will liquidize your assets before they can "lose money" or you have to put more collateral up to cover the drop
Luke Rivera
Think of SALT like the loan origination fees. Read this. Yes you use your crypto as collateral.
scribd.com
SALT should be worth about $50-100 to approximate normal loan origination fees. Probably more because you can pay down interest with the salt too. And that pay down uses the $25 price on the website so you are literally printing money by buying salt at $7 right now.
Easton Hall
if true it would put it in top 5 marketcap coins
David Allen
It's a triangle you fucking retard! Literally a triangle! Gain another dimension faggot!
Jackson Martin
Yes, that's why you should buy. Imagine a coin that is actually used by people instead of speculation and memes.
Jaxon Cooper
Fuark should have bought sub 7 hopefully it dips again
Brayden Powell
Salt doesn't make any sense.
Ryan King
why not?
Chase Watson
It doesn't make any sense to accept BTC as payment for goods and services either, so what?
Bentley Miller
i am holding, bought in at $ 2,80 but i'm thinking of taking my profits.
it will probably take months if not years to become a top 5 marketcap coin
Tyler Williams
They're almost futures trading and the details are unclear. They also haven't explained how they well set the value of tokens or the full details of their use. A lot of confusion surrounding them.
Carson Butler
That makes perfect sense since paper money is an antiquated system that costs too much maintain.
Mason Jackson
some good info here-
reddit.com
And have you read the whitepaper and watched the video on saltlending.com? The token value on their website will always be raised so it is above market price.
Lincoln Fisher
I traded all my ether for this shit back in mid Nov, and now I can't change it back because I don't have any ether. Total fuckin scam coin.
Dylan Martinez
There does not appear to be a single problem that is solved by including a token for this service. It seems to be, and already is, a successful money grab.
Caleb Moore
>Salt doesn't make any sense.
Damn right. I accidentally pressed sell 100% instead of buy 100% and panic bought my stack back asap. Made a miniscule profit after fees. approximately 4$ in fees both times and two salt of profit. I made roughly 1 salt token net. Lol
Jace Rodriguez
When you have tens of thousands of crypto users with terrible or no credit history, are they going to bitch about a $25 token being useless when they're able to take out $10k loans to play shitcoins?
The "tokens are useless!" meme is tired, it's just a method to make money, like any business. Don't like it, don't use their business.
Robert Perez
After seeing a few of these salt threads today I am convinced that most of the salt fudders are acting dense on purpose. Maybe trying to keep the price down so they can accumulate?
Anthony Richardson
It will before the release this month
Jose King
The supply of SALT token will be larger than the demand for the stupid SALT loan service that holds no advantages over just selling your BTC.
The tokens won't be worth much
Kevin Lewis
kek
Benjamin Rogers
>By buying 1 SALT on the exchange what am I actually buying? The ability to get a loan?
Basically. It's a membership token and you can pay interest with it.
>what happens if BTC price crashes and I don't pay my loan back? Surenly they would lose money?
They are holding 25% more bitcoin than you borrow. So if the price starts tanking, they sell your bitcoin with no loss. It's similar to a margin loan you get at Poloniex or your stock broker.
Leo Richardson
>no advantages over just selling your BTC
Advantages of not selling BTC:
-don't lose on price appreciation
-don't pay taxes on profit
-can use the loan to buy more BTC
Hunter Campbell
So has anyone been able to get a lone ?
Carson Green
Read up on it again and it seems I got the facts wrong the first time around I read it. Your first and second point are valid, not your second though if you should default on your loan and since there is no way to get money out of the contract there is no tax free profit to be had, just tax free loan, any spent fiat is still taxed, even if delayed.
Asher Hernandez
first and third I meant*
Logan Jones
Where can i get SALT?
Thomas Rodriguez
>if you should default on your loan
Don't take out a big loan. I would probably take out less than 10% of the btc's value, expecting it to go from 15k to 5k some time this year. If you don't take a huge loan, your risk for a margin call is slim.
Colton Hill
Yeah sure, in this case I can see why one might like to use the service.
Thanks user.
Thomas Ward
you really couldnt think of that...? wtf...
Ryder Perry
any exchange that supports it. i recommend binance.
in the future, an easy way to see where to get a token is by looking up the markets for it on a website like coinmarketcap.
coinmarketcap.com
Asher James
wait what? the price of the token represents the demand for lenders willing to actually loan money for crypto as collateral. you think just anyone will do that??