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Comment by vmception | Hacker News Reader

> If you're in a position to hold $60k bitcoin on Coinbase, do you really have a need for a 1 year bridge loan of $20k? At a rate only slightly better than a credit card?

If the $60k of bitcoin on Coinbase was bought with a loan from Nexo because you have $100k of bitcoin on Nexo, then yes lol.

Wrap that bitcoin in RenVM to use it on the Ethereum blockchain, maybe some renBTC liquidity pool is earning you more, or sell it on Mooniswap for something else that is earning more. YAM/yCRV staking anyone?

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Daily reminder that leveraged investment strategies can and will blow up in your face...

daily reminder that non-accredited investors should be able to blow up in private equity too, because they can already blow up in worse ways so it doesn't make sense to shut them out of everything that has a chance of being professionally run

Your suggestion is to take this high interest loan to take a long position in a high risk high yield speculative investment in other cryto... wut? This is like telling people to buy cryto with their credit card....

it wasn't a suggestion or telling anyone to do anything, were you making a point? would you prefer a little disclaimer at the bottom to feel more comfortable?

not all of us need that. make your own decisions.

others want to know whats possible.

Yeah my point was to be a disclaimer on your comment for what a stupid idea it is.

A lot of people know how to manage their risk on leveraged products, and bitcoin this decade has regulated financial products to make that practical

Interest payments are deductible in many circumstances, borrowing against holdings do not cause taxes from selling the holdings, and in some circumstances capital losses can be converted to net operating losses deductible against income paid in both prior and future years, practically ensuring you get your money back if properly planned. (Carrybacks were removed in the 2017 tax reform law but restored in the CARES Act.)

But I understand, calculated risks are only for people good at math.

Wow can't believe no one's thought of that before. How can you lose?!?!?! You do you Mr. 200IQ

You can lose thats the point of socializing the losses and privatizing the gains

Make your own choices

Poor YAM

I need to tap your brain. I am trying to do something in this area. Can we chat privately?

put your email up in your profile for a few days

Done

in your about section, I should say.

Yes

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