Am I getting this right?

...

this you would need to invest right now 1000 salt to be early on the platform and have access
it will probably happen once the premium members get access

blog.saltlending.com/salt-loans-are-live-cf0f7c8e5d69
>"Each member’s access to loans and the order in which members are served will be determined case-by-case based on membership tier, local jurisdiction laws, and the order in which they applied for a loan.
As a thank you to our community, we will be allowing members to repay both their principal and interest with SALT (valued at retail price) instead of US dollars. Terms and conditions are subject to change and limitations. Final terms determined at the origination of each loan."

blog.saltlending.com/salt-loans-are-live-cf0f7c8e5d69
you're welcome, now go get your free 2x big boy

Guys cmon don't be retarded. They're valued at retail price, retail price is the price on exchanges thus it will be the same as paying off your loan with US dollars, not the price they give loans for.

They said today you can use them to pay principal

retail price is the price they sell them at which is 27.5 right now

Since retail value will always be higher then market value, couldn't they use this to essentially moon the price all by themselves?

they will probably opt for 2.5 increments once the market hits the retail price as base

Yes op you are correct. Then salt lending sells these tokens through their system at their specified price.

So if everyone does this then at some point they will have to buy from salt lending platform.

This is how the value increases. There is literally no ceiling on this fucker

Do you have to put up 100% collateral for any of their loans, or just a partial amount?

>538405▶
> (OP)
>Yes op you are correct. Then salt lending sells these tokens through their system at their specified price.
>So if everyone does this then at some point they will have to buy from salt lending platform.
>This is how the value increases. There is literally no ceiling on this fucker

Did we just discover a way to constantly gain money

yes it is huge.

>Release platform with salt paying principal
>Keep raising retail value above market value
>Market value artificially moons to insane levels assuming platform actually works
>As salt is removed from circulation, once the price is high enough equalize the maket and retail price

Seems like they are their own moon mission

With the way their doing memberships, it might be awhile before the base tier actually get access to loans, which means should you spend that ~10 for premier?

hmmm

Whenever they raise the price it costs them some money as people would just dump their salt into loans on their platform at that value. They can offset this lost money using the amount of salt they own but it wont be profitable unless the market demand still exceeds the market supply, they cant just print money

this is why salt will 100% match the platform price of $27.50 or what ever the up it to

NO

>just discover

It's really obvious desu. But like I said, eventually the only place to buy will be the platform itself.

Ie. Say there is 1000 salt total in existence and 100 people have 10 salt each.

If 9 of them takes a loan for the full 10 salt worth and immediately pays off with salt then the platform now controls 90% of the total supply.

Now they raise the price. user 10 still holds his 10 salt. So people have to buy high at the lending platform.

Salt can continue to raise their salt prices as they see fit.

This is an extreme example. There is a lot more salt and many more holders. So the transfer of power will be slower

But eventually you will need to send your salt tokens back to Binance and sell them there for the 27.5 price to make the predicted gains, right.

most don't know this

Yeah if you are holding salt and want to cash out.

If you take a 100k loan backed with btc collateral. Then pay it off with salt that you are holding (which you can do due to them allowing principle loan to be paid off with salt) then you get to keep the 100k + get your btc collateral back and the salt gets consumed so no need to sell on exchange

All I could afford was a measly 6 $15 each, bu-but doubles? mmm doubles.

It's already $16, so you made money

weak hands lost a lot tonight

i dont want to fuck this up so let me get this straight

i give them 10 salt i buy from binance total cost about $160

i take a $5000 loan, and give them $5000 worth of btc

they give me $5000 usd? i use about $2900 to buy 5000(loan)/27.5(salt value) 182 salt token on binance. i give them the salt, they give my btc, and i keep 2k?

so i want to buy at least 192 tokens right now?

I forget the exact percentage but you can only get a percentage of your crypto value as a loan, it is either 80 or 90% so you would only get 4000 or 4500 usd.

But yes, you could do that atm, assuming the price stays below $27, but it wont for long.

How are you this stupid? Do you honestly not understand what collateral is?

Can we deposit SALT on their platform right now? And can we take loans already right now?

yes

yes but only americans so far

this is legit af and follows all the regulations and shit, salt could become a top 10 coin

Help.

Not gonna hold your hand
membership.saltlending.com

>Can we deposit SALT on their platform right now?
Yeah, I did a few weeks ago when they were offering a Ledger nano for six Salt. How anyone ignored a coin so undervalued that they sold hardware wallets in exchange for thirty dollars worth of their token is beyond me

not really. its a whole lot easier to buy coins right before they pump in price and sell them. discord.gg/vNGsENy come see its a crypto pump group.

Forgot pic.
Thx for help so far m8.

I'm from Netherlands. When will I be able too!

I'm guessing they are under heavy load. There is no real reason to deposit it immediately so just wait til tomorrow and see from there.

Source for being able to pay 27.5 usd back per salt?

What if you're [spoiler]Canadian[/spoiler]

But shouldnt I be loaning as much money as possible and keep buying more SALT on the market?

As long as you have a usd bank account they dont care

At the moment loans are only available to people with an enterprise account which costs 100 Salt

I ain't gonna do your math for you user. But your logic is sound. Like the user above mentioned you need to put up more collateral than you receive (standard in loans).

This is the reason I accumulated at $2.50. I'll be pulling this scheme while it's possible with 100k btc collateral. I've been planning this for awhile and my calculations were made when i thought that i could only use salt to pay off the interest. I literally never dreamed they'd let us pay off the fucking principle.

Just remember they did include that they may remove the ability to pay off principle in future. I'm guessing that they'll remove it after a month or so. If you don't take advantage now then you're missing one hell of an opportunity.

So they're going to allow you to deposit once they correct the price..... obviously?

If the service starts getting traction, then yes.

>I'm guessing that they'll remove it after a month or so.
I never dreamed of it either but why would they remove it?

Fucking cunts keep trying to drive the price down and stop the mooning.

what..

I bought the top again!!!!!!

So apparently collateral is like 120%

So if I want a $10,000 loan. I need to have $12,000 in BTC. I take out the $10,000 USD loan, and have to make minimum payments.

I can make minimum payments via the $15 SALT coins I've got.

$10,000/27.5 means i need 363.63 coins they'll take.

So I will buy at currnet market price of say $15/coin *363.63 = $5454. In other words, I'll have paid $5454 to repay a $10,000 loan. Or an 83% profit.

Please correct me if I'm wrong.

Hold son, this will go $20 easily

I dont understand how its a loan if your giving full collateral? Like you dont take a loan out for a car and give the bank 40k in collateral.

that sucks m8

saved meme

Quick sell the bottom!

Usually HODL is just a meme people say to make you lose money but this coin is literally worth $27.50 each. There's zero chance that it will stay below that.

Because you pay back the value of your collateral over time (or let them sell it for you), as long as your collateral increases in value by 10% or more then it is free money.

Do you really think crypto wont go up at least 10% in a year?

uhhh.. g-g-guys? this is bad, right? 10,000 salt is 150,000 dollars. There are only 2,000 people subscribed to /r/saltlending.

It's a loan in the sense that you get your coins back

Because it allows people to do exactly what I've been talking about. Basically they've gotta cover the costs. Now they will do this for awhile because like they said it's a "reward" and it will drive the price up.

I imagine they'll be able to comfortably cover the costs for a month via the staged release, fees in the system and selling salt through their platform (some autistic fuck will buy from the platform)

I thought I read that if the value of your crypto increases while it is collateral that you'll owe MORE collateral later?

>HODL is just a meme people say to make you lose money
The state of Veeky Forums

holy shit its actually mooning, buy it all

If the value of collateral goes down you'll be contacted and asked to provide additional collateral.

If the value goes up. You have the option to pay off the rest of your debt with part of the collateral

We must be looking at different order books, because all i see is really hard dumping.

No, if your crypto increases far above the required 80% LTV ratio then they give you the options to either leave it and maintain a higher LTV buffer, take out some cash or pay off some of the principal with your collateral.

>it allows people to do exactly what I've been talking about.
I know that, thats why I think its bizarre they are doing it at all. My point was maybe they aren't worried about people like you doing that for some reason.
The only possible reason being that they are expecting the price to go up exponentially and can take people exploiting the system in exchange for volume.

If anyone is trying to sell off above last price on Binance, pull your order really quickly. This shit's only going up, we may as well test new levels and sell it for a better profit. If the market moves heavily towards the platform that's the best marketing we can ask for really.

plus I bought at the ATH please help

Ree who's the bitch that keeps driving the price down.

lol, I bought at 84 and held as it dropped to 66.
Everything will be fine long run, just weak hands losing out

No one in their right mind who bought at 1-8$ would sell out after a 20-30% increase today
Not when we'll likely see 0.0016~ later on

whales playing games

>There are only 2,000 people subscribed to /r/saltlending.
Probably because they have an official twitter and no official subreddit.

People cashing out for quick gains when this will go higher.