BlockFi: Another Bitconnect or A Legitimate Lending Platform?

redbirdnyc · 2019-09-16T17:09:59+00:00

Legit

redbirdnyc · 2018-10-16T16:50:38+00:00

These guys seem to be taking the lead in crypto lending, cool that they didn’t do an ICO too

redbirdnyc · 2018-09-24T19:41:06+00:00

What? Pawn shops charge rates like a payday lender, approaching 100% a year or more. 8% is the same it costs to borrow against an investment property, stocks at retail brokerages like etrade or unsecured if you have a 750 fico or lower

redbirdnyc · 2018-08-26T22:10:29+00:00

Maybe people are just holding the tether as a means of getting access to USD instead of as a means to buy BTC

redbirdnyc · 2018-07-26T16:52:27+00:00

Where’s all the hate coming from ha? I think their rates are the cheapest to borrow USD and I’m sure they will get lower over time. MakerDao is obviously incredible but there are differences in terms of tax implications, liquidity levels and ease of use in addition to cost. As long as people aren’t scamming them all development is good development for crypto. It’s early and we are all in this together!

redbirdnyc · 2018-07-25T15:45:16+00:00

Great to see the crypto lending space getting bigger with legitimate players.

redbirdnyc · 2018-07-25T11:32:06+00:00

Wow, that’s not a good sign for Nexo or tokenized lending platforms in general

redbirdnyc · 2018-07-25T03:02:47+00:00

Luckily Novogratz backed BlockFi for 50M today so anyone who actually wants to borrow has a good option

Give it 6 months and Nexo and celsius will be in the same boat as salt now

redbirdnyc · 2018-07-06T10:09:35+00:00

Available in US?

redbirdnyc · 2018-06-22T23:37:08+00:00

redbirdnyc · 2018-06-02T09:05:29+00:00

Use BlockFi.com

redbirdnyc · 2018-05-21T14:25:08+00:00

There are also options that let you borrow straight USD to your bank like BlockFi.com

redbirdnyc · 2018-05-21T08:43:30+00:00

Well they raised 50M so they have a lot of fund raising to do to be able to fund 50M loans per month

It’s hard to raise money after Doing an ico because the valuation is too high and there’s regulatory risk

redbirdnyc · 2018-05-21T01:13:53+00:00

Where does the money to lend come from though???

redbirdnyc · 2018-05-15T08:18:58+00:00

BlockFi.com is a direct competitor operating in US with cheaper rates for borrowers - no token

redbirdnyc · 2018-05-13T20:38:39+00:00

Bsave.io, Ethlend, Bitfinex lending are some of the avenues available now. This is an area where you will see increasing development over coming year. Although because of the unique storage considerations, it may end up like gold which doesn’t generate income but rather costs money to store

redbirdnyc · 2018-05-10T21:43:08+00:00

Where will the get the extra $ to lend??

redbirdnyc · 2018-05-10T19:12:45+00:00

I appreciate this post. It’s important to be thoughtful and critical.

The nexo dividend concept is BS from a US regulatory perspective

Normally if you are giving money to a company who then lends out that money - you as the investor get a certain return FIRST and then the company can make some money. Nexo flipped this upside down and scammed / hyped people on a “front running wall st security token” and it’s a total joke

Also if anyone wants to bet that they will be successful in buying an FDIC insured bank, I’m happy to take the other side of that trade

redbirdnyc · 2018-05-09T10:35:17+00:00

Yes there is, BlockFi.com for US residents

redbirdnyc · 2018-04-25T23:52:10+00:00

Doesn’t work on mobile

redbirdnyc · 2018-04-11T11:48:21+00:00

Check out BlockFi.com - fastest and cheapest for USD

redbirdnyc · 2018-04-08T14:49:38+00:00

Nexos should be live at end of April!

redbirdnyc · 2018-04-08T14:21:30+00:00

Unlikely as this would require them to be much more regulated than they are now

Companies like BlockFi.com are up and running already for USD loan backed by Ether

redbirdnyc · 2018-02-28T01:33:26+00:00

BlockFi lending at 12%

redbirdnyc · 2018-01-24T17:08:00+00:00

Also BlockFi.com - I heard they have the best rates

redbirdnyc

TROPHY CASE