A fews days ago i saw a dream that one fine morning, i checked bitcoin price and it was 100,000$. I was so happy to see this but then my eyes opened and when i checked in reality it was around 48000$.
My friends says that i see real dreams, so this means that bitcoin will reach 100,000$ in reality
I just went out with a realtor yesterday to view a property based on the likelihood that bitcoin will be over $100k by the end of the year. I wanted to be ready.
I'll definitely be looking at a BlockFi loan as opposed to cashing out.
Tell us how it works out, Elwar! This is useful info.
I've been wanting to do something like that for a long time: extracting fiat without cashing out. I'm just very wary, because all the bitcoin lending setups I've seen in the past were scams. BlockFi looks like it's a bit different... until it turns out it really isn't?
From what I saw the US government is fighting them on the Bitcoin loans.
I figure if I get the cash in the form of a loan for the equivalent amount of BTC that I would have otherwise received via cashing out then they go bankrupt or whichever, it still qualifies as a loan as far as the IRS is concerned. Just nobody to pay the loan back to.
I'd be very wary about handing coins over to BlockFi, it may easily turn out to be the regulated version of what bitcoiners know as "the exit scam".
effectively you'd be selling the bitcoin at a discount given by the collateralisation rate .... and paying interest on the privilege until the the time they go bust and say "coinz went somewhere"
they had a high profile ex-regulator on the board to suck in some credibility and more coins ... he just left
they did the same thing with Corzine and MF Global when they needed physical gold to keep the dollar ponzi alive a bit longer in 2008 ... set-up an options and futures racket to suck in the desired physical product then go bust and pay out cents on the dollars in dirty printed fiat .... burns all the little guys and keeps them away from the casinos big tables where the banks play
it's all a shell game where you got to keep your eye on the pea .... CME got the gold to cover all the big boys shorts positions and all the little guys who were long gold in the futures market that was blowing it up had money confiscated, criminally so, directly from their accounts .... Corzine walked with a slap on wrist $5 mill fine, JPMorgan got the little guys siphoned fiat the day before it went bust ... CME got the gold and the fiat ponzi game goes on, only big, connected shorts that keep the fiat show alive get to truly use leverage .... all is well with the world, if you're okay with criminals in high places
