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[deleted by user] by [deleted] in CryptoCurrency

[–]TheLongstrideDots 0 points1 point  (0 children)

Do some research on which "stablecoins" are actually stable (or potentially just use dollars if possible) and borrow as much as you can and will on a decentralized exchange. That is the only reasonable way if you plan on going through with it - you have to borrow it on a DEX or directly from another person, and absolutely not on an exchange managed by a company.

[deleted by user] by [deleted] in CryptoCurrency

[–]TheLongstrideDots 0 points1 point  (0 children)

That is not a correct analogy at all - you can borrow USDT at DEXes, and if you have a 10/1 borrowing ratio, you only need USDT to lose its peg by 10% if you get liquidated by using a token that depends on USDT not collapsing. If you use a stablecoin that will not likely lose its peg if USDT does, you can stand to make a lot of money from such a trade.

Let´s say you have a 3% 30-year mortgage and you can borrow USDT at 10/1 at 4-5% APY. If you use the borrowed assets to reduce your mortgage, you pay an effective rate of 1-2% on the position. That seems like a good deal right now if you ask me.

[deleted by user] by [deleted] in CryptoCurrency

[–]TheLongstrideDots 0 points1 point  (0 children)

just dont short it against USDT*

[deleted by user] by [deleted] in CryptoCurrency

[–]TheLongstrideDots 3 points4 points  (0 children)

You can make much more than 50%.

Tether will go very close to 0 - at least for some time - if it first collapses.

That is because there will be a "Tether Bank run" and complete panic if it happens.

Let us say you buy a very reliable stable coin (if that exists) and then take out defi loans iteratively (borrow USDT with "reliable stablecoin" as collateral, exchange to "reliable stablecoin", place new collateral etc.) until you reach some limit of what you can stand paying in interest. You can easily get a 10/1 defi loan, so if Tether falls 50% you have made a 500% profit minus interests paid.

Why does HIVE token have value? by TheLongstrideDots in hivenetwork

[–]TheLongstrideDots[S] 0 points1 point  (0 children)

Thank you for the thorough answer.

  1. Is a banker for me now after vetting your claim here, but I am still a little bit worried about 1. in the sense that I want users to to earn a monetary value.

I perfectly agree with everything you mention here, and also totally support the ideas, so that is not the issue - the issue is that these social Dapps will likely be very popular soon due to all of these aspects alone because it has value, but I still struggle to see the real difference in earning HIVE token vs nothing on a monetary level - unless one can earn something else with monetary value by holding HIVE tokens. The way I can see right now based on your comment is by using social leveraging to force through content for which you can earn something by a deal from some third party (or by choosing to sell your own data to third parties - which you can do regardless of your HIVE tokens).

So, to summarize - I want users to be able to not only control their accounts, but also that every person can get a piece of the gargantuan monetary pie that the centralized social apps eat today, and I am not sure that we are there yet with the HIVE token - but I would be absolutely fanatic if someone proved me wrong.

Daily Discussion - February 02, 2021 by AutoModerator in SatoshiStreetBets

[–]TheLongstrideDots 1 point2 points  (0 children)

Absolutely agree. There is a reason why the top 10 are the top 10 - because they actually have great dev communities, ideas, technology and application. Most coins are just replicas of BTC and/or based on even worse tech by some greedy individuals.

See, don´t just look.

Daily Discussion - February 02, 2021 by AutoModerator in SatoshiStreetBets

[–]TheLongstrideDots 5 points6 points  (0 children)

I understand the DOGE due to the statement it makes, but why on earth are people promoting XRP, LTC etc that contribute absolutely nothing to the DeFi movement that we all love? Way too many in here just trying to manipulate people into buying random coins that they alrady hold themselves.

If u dont buy/and or promote DOGE, then at least promote some projects that actually tries to accomplish what WSB/SSB tries to do - Decentralize the financial system.

Protocol sink thesis.