How to use Salt platform????

Can someone with a higher IQ break it down how to use the salt lending platform? I have over 1K of salt and wouldn't mind taking a loan out right now for $27,500, buying eth with it and paying off the loan immediately with my salt. Is this possible? What am i missing?

Someone? Anyone?

I guess my IQ is higher than the rest of you dumb fuck anons...

You didn't buy BZC yet user? Kek

Buy $35000 worth of crypto, then give it to them to hold, they will give you $27,500 cash then you give them your salt to pay it off and they give you your crypto back.

It's a scam, OP. If this was working as intended, all the whales would have pushed SALT up to 27.50 because they could pay off their loans at a highly reduced rate. Since the whales didn't take the chance to literally print money, you should be VERY worried.

You have to put up BTC as collateral for the loan. As for why no one has taken advantage of the arbitrage opportunity, nobody is 100% sure, but it looks like they are being a proper lending house with the credit checks/ loan offers. There could also be an early payment penalty clause that deters any such attempts at arbitrage. This is all speculation on my part though.

What the eff... Why not just buy 27,5 of crypto?

Weak fud, the whales already hold enough salt to pay off their own loans, they are using the money from their loans to accumulate at a discount until people cant fud anymore

You get a loan by applying for it but you have to have a collateral for it, probably more than the loan amount in ether or btc. Once you get the money buy some Salt with the loan that you took out. Repay the loan with the Salt that you acquired.

People are going to take advantage of this arbitrage oppourtinity but we have to wait until people actually receive the USD loan they took from Salt. Salts price will likely increase by the end of the month to equal the amount it is on their loan platform. Someone just has to prove that it can be done yet.

So, from what i am reading here, nobody actually knows how to make this shit work on the website...

1) normies are retarded, and 2) you cant take out loans yet for normal members

That's retard, how can i take out a loan with crypto? What about ethLend?

What do you mean? you can take out a loan with crypto, they give you fiat, you can do whatever you want with that fiat.

ethlend has a lot less uses, it is p2p and only offers loans in crypto, it doesn't help avoid capital gains tax, also ethlends token has no real world backing in its value

SALT announced that they're accepting ETH as collateral today

ethlend is ded

also this. theres some guy on the /r/salttrader reddit who is keeping everyone updated on the status of his enterprise loan.

What if you don't have collateral, but need a large loan $100,000+, say for graduate school?

Invest in kneepads.

Then go to a bank, no one is going to loan you $100,000 over the internet if you don't have collateral.

Why the eff is this shit not mooning then? Annoying as fuck...

Because idiots like you bought it without understanding it, why the fuck didn't you buy verge instead and stay away from real projects?

If they were accumulating with their loans we would see increased volume, not severely decreased like it has been post-launch
The fuck are you talking about, whales are not normies

Welcome to the SALT bagholding life. Nobody has any idea why the price is so low.

>If they were accumulating with their loans we would see increased volume, not severely decreased like it has been post-launch
The amount they have received in loans so far is less than the amount of misinformation and ill informed buyers of this coin

Do coins get burned?

>If RinLoans is less than (Misinformation+IllInformedBuyers)
>Volume decreases
>Volume increases
Hmm what a well thought out formula let me crunch some numbers... hmm... yep makes even less fucking sense. Volume WOULD NOT decrease. There is literally ZERO reason for volume to stagnate post release if whales wanted to accumulate, they would compete with each other to scoop up as much as humanly possible.

>being so dumb that you cant converse in English and have to resort to pseudo code

The launch was already priced in, they accumulated for weeks, whales/bots are patient.

Just look at the volume, 700 btc worth traded on binance alone, Salt has only given out $7 million in loans so far, $7 million isnt even enough to buy up one days worth of weak hands, it isnt in their best interest to let the price rise yet when there are still countless weak hands to prey off

because impatient dumb newfag fucks like yourself and that /u/deplorableprotrump guy on the salt reddit have hands of wood.

iron fucking hands user, cmon.

lol..i have been holding since 2.50 ya dumb cracker...

Literally this. People have been scraping off 5% gains and panic selling at 5% losses for SALT and the price can't rise this way. I wish these fucking weak hand buyers would leave so SALT can do its thing.

They state you can pay early with no penalty