SALT GAINZ TRAIN thread

The brainlets on biz is still missing this golden opportunity, because they can not imagine a simple use case for crypto backed loans to fiat

Happy I can accumulate more before 20$

got 24...never gonna make it though :(

Wait, why would I secure a loan with my crypto? Either the price goes up, and I've secured a loan with collateral worth more than my loan, or the price stays the same or drops, in which case I am now worse off than if I had just sold the stuff.

On the other hand, I guess a rolling loan with a greatly appreciating asset is a good way to cash out without actually cashing out and paying taxes... hmph, food for thought. But why do I need to buy their coin for that?

I bought in at 3.50 and just convinced a family member to buy in at 10.50. I am going to be accused of signing him up to a ponzi scheme if I'm wrong about this one.

you don't have to pay taxes on loans

Right, that's cool. But what do I need a SALT token for?

token used for membership and since its sold on their site at 27.5 any bought at a exchange can be used on site as well. the big thing is tokens can be used to pay off interest ( how much is not revealed yet) so buy now at 10 bucks on exchange take off 27.5 worth of interest on loan next month. thats why its a steal at this price

It is used to purchase loans. Currently it's 1 for $1k, 10 for $10k, and 100 for $100k. Those will change as the price per token increases.

You can also use to tokens to pay back your loans.

also you can use salt as collateral later in the year and theres been talk of possible staking with the token

basically a loan origination fee (they call it 'membership') and to pay off interest

Ok so I've 200 of these tokens, I can get a 200 k loan and go all in on btc, pay back what I owe and then chill with like 100 k profit easy as? What collateral is taken into account? If what I said is actually the premise then this shit will be fucking huge, there's so many rich risk takers around they'll just fucking chance it and take massive loans out.

Yes. Exactly this.

It's more for traders and miners (to pay bills).

People are going to take out some $100k loans, double or triple them, then pay it back, and get their coins back that have probably increased in value.

Win-win-win.

the collateral is your own btc.. the easiest way to think of it is like a pawn shop loan, you give your btc for the loan and pay it back + interest or dont and the loans closed and you dont pay taxes for a cash out win win

That sounds like the whole tether deal, where they'll be glad to sell you a $10 token for $27.5 with the intent that someday you can trade it to someone else for $27.5 if they ever get this shit running.

So wait, I have to give 2.75% of the loan amount to SALT to that I can lend actual dollars and collateralize crypto, at which point the guy I lent to could immediately pay back the loan, and I'm out my 2.75%? Or is Salt guaranteeing a return on my end after a given period of time (say I get my money +10% back after a year)? Do I get the crypto in case of default, or does SALT take on that risk themselves and guarantee my payout so long as they remain solvent? What are they going to do if the value of their collateral plummets and everyone defaults because it's cheaper to write off their crypto than to pay off the loan?

I NEED MORE SALT!!!

If staking was confirmed that would be a huge plus.

Getting nervous boys, do I sell then buy back in at a dip?

If staking is confirmed, this coin will see $50. Easily.

well kind of. except its the exchanges selling for 10 and their site is 27.5 basically they are valuing their coin at 27.5 and expecting the market to meet it. oh and the site is def going to open before the end of the month im on their telegram all the time its been confirmed a million times that it will open soon.
second you cant lend only banks for now. sucks but the jews got to get there cut before normies can. at least the banks only angle gives it some serious credibility

Loan origination fee makes sense. Do we have any actual terms for the loans? Like you give a salt token, deposit 1k in crypto, get your $1k, and pay pack what? 1 Salt every period?

You have to pay taxes on written off debt, otherwise everyone would default on debts left and right in a quid pro quo agreement.

no info on the final details there marketing is fucking garbage prob wont release any info untill the sites up next week. im starting to wonder if theyll even announce before opening the site
also i think itll be closer to 1.25 to 1 loan to give room for swing in price. you pay fiat for debt salt for interest

that they are not a stupid skateboard picture marketing scam is a huge plus imo, they do focus on enterprise and power users that have a lot of crypto to put up, not the "hurr durr 2$ fee unbanked mobile" crowd that is so popular those days.

Also note that SALT has very low FUD levels, yes there might be 0 users but that has nothing to do with the token. It's simply an elegant idea executed(hopefully) in a very good way, that's why the NEETs here dont undestand it

Yeah, realized fudged the term since you're not buying a loan, you're originating it. Makes sense that only banks can get in on the lending bit. That would make the structure a matter between SALT and the banks. Sounds like a potential landmine though, just because this sounds like sub-prime mortgage lending. Either SALT blows up during a crash or the banks CDOs or whatever they're calling these do.

I mean the whole thing sounds like a good structure for lending involving crypto, but the situation in general has potential for some bad shit to go down.

They said the platform will open before the 31st Dec.
The team is only made of europeans, meaning they will go on vacantion next week, or most of the team will.
So the platform will probably launch this week

Well that's good. That's a pretty strong actual-use case.

absolutely on all this. but this whole market is build on btc stilts and can go burst anytime. huge risk but as of now one of the best ways to utilize btc in any real world application.
forgot to mention the founder of changely sits on the board this is not scam coin folks, real deal