Topic: What do we think about SALT? (Read 839 times)

Reasons why SALT must moon from here on.

1. Huge news at 16th January at Bitcoin Conference
2. 7400% At HIGH
3. 12h, 6h, 4h all diverging bullish
4. Hit double Bottom at 4 times at support level!
5. Strong support at 600 Sats.
6. Twitter evangelist are hyping up this coin
7. Severely undervalued!
8. Fundamentals are sick!
9.  A working product
10. Bitcoin going to the moon tommorrow!

It was not the only one. You can basically say the same thing for almost every single altcoin ever mentioned on this forum. Some are not just struggling to maintain price, they are even struggling to keep a foot inside listings on exchanges. This is truly the pruning season and it will take a lot of guts to hold and hold expecting these tokens to float on DEXs. People are finally understanding that no matter what spin you put on tokens even with a great idea,,, no utility and no users means no heart beat.

Salt made a long travel down in price terms from ATH. I don't really see the real volume in it now but still holding few in my bag.

It sound good but I don't think blockchain could solve the problem. Last year I invest to them but since they sell the token on their site with $25 each but I could bought the token from Bittrex with half of price so I think it have problem. But trading Salt give me good profit. It help me increase my account from $35 to $800 in 3 months.

if I myself read this article from SALT such as savings and loans with low interest rates, good projects with different concepts

Getting to Know SALT’s Interim President and CEO Bill Sinclair
https://blog.saltlending.com/getting-to-know-salts-interim-president-and-ceo-bill-sinclair-34a19f0a6f32

As SALT approaches its upcoming announcement, this is a great time to get to know interim President and CEO Bill Sinclair. Bill brings more than 20 years of experience in software and technology development, and will apply that knowhow to SALT’s future as a visionary fintech company with a strong focus on security and scalability.

Exciting Changes at SALT Lending
"Just a few things you can expect in the coming days:
- Dynamic pricing of SALT to echo the industry, not just the company
- Ability for borrowers to use SALT to adjust their own interest rates
- More than doubling of our approved lending jurisdictions
Stay tuned for more details!"
https://blog.saltlending.com/exciting-changes-at-salt-lending-16368b0e1db

the first time I see this website , for what purpose are you asking this question? do they have an announcement? or are you just advertising their website?  I believe that all large sites should have their own forum thread .

I understand what you are saying if it could be true, SALT will help many out of poverty and it will give investment opportunities to who be investors.

From what I understand, the tokens will be available in a few weeks time.

I entered at 1.50 and have been watching it. To my knowledge they have yet to provide a direction in which I could sell off my Salt to make a profit. Its great that my bag is almost 10x at the moment...not so great if the only place that buys it back is Salt itself. Admittedly, I dont follow the project that much, just saw an opportunity...so anyone feel free to shed some light.

"That's completely wrong. You don't take out or pay loans with SALT, you pay them off with fiat. If you default you lose your collateral which is BTC, ETH, or some other crypto allowed by the platform. SALT is used to pay for membership (1 SALT per year or more), and it may be used as collateral.

Also, every number in the example is is pulled from a hat since none of the platform's financial factors has been made public or even set yet AFAIK, so it is utterly meaningless."

True Bramen - when I meant SALT in my example I meant the company not the token - and yes the Interest rates have not been set as yet - but could get competitive as the banks realise that cryptos are good collateral in some cases as good as gold.

I'm struggling to see how SALT can disrupt the loan circuit, or to bring much to the table to be frank, other than "it's lending... using a blockchain!" Lending using your cryptos as collateral may be attractive to some, though, as it will allow them to gain interest on their crypto holdings (or to be more accurate, to lend against your cryptos to invest elsewhere).

TLDR: SALT is only useful for people who already have crypto or fiat they can put away for the duration of the loan, but not at all for those who can't. One third of its total supply has been already sold at pre-sale at rock bottom prices. It is unclear who benefits from the storage on collateral.

SALT is trying to replace credit scores with collateral (which must be BTC, ETH or SALT). This means only people with collateral will be able to get loans on Salt Lending. So if your credit score is awful but you have collateral (read: you have money but are bad at managing your payments), you can get a loan on their platform. But if your credit score is great and you don't have any collateral (read: you're poor but pay your dues on time), you don't get a loan, period. At least at a traditional bank you can get a loan.

This does not set the world on fire, and I don't see it being a positively disruptive force, as it will not give greater access to loans for those without means, and will merely benefit those who already have money/cryptos. Could be a great source of funds for margin trading, and for whales who HOLD cryptos and want to get additional leverage from them, but not very useful to help poor people. I may be underestimating the potential for the former two types of people and the platform in general, but there are other issues with the token.

First, the supply. One third of total SALT 120m token supply was sold in pre-sale at $0.25 or $0.75 (from a reply in SALT ANN thread). They are now selling at $7.50, and when the current round ends they will set at no less than $10.00. This poses a rather attractive incentive for the early investors to dump.

Another concern is the collateral storage. According to the FAQ on collateral: A portion of the collateral will be held in a highly secure, multi-signature “hot wallet” for the purposes of managing collateral valuation volatility. The remainder will be held in cold storage. I'm sure this hot wallet will be rather large in total value, so who gets to keep the interest from all this stored collateral, which may generate very significant income? Is it Salt Lending, lenders, the debtors, or someone else? I haven't found the answer.


That's completely wrong. You don't take out or pay loans with SALT, you pay them off with fiat. If you default you lose your collateral which is BTC, ETH, or some other crypto allowed by the platform. SALT is used to pay for membership (1 SALT per year or more), and it may be used as collateral.

Also, every number in the example is is pulled from a hat since none of the platform's financial factors has been made public or even set yet AFAIK, so it is utterly meaningless.

SALT seems to have a very unique and interesting lending concept. Keeping an eye on it for now.

I think it's an interesting concept as I'm unaware of any financial institution that'll allow crypto to be held for collateral.  I have a question though... maybe someone can answer.  Are they only doing fiat for their ICO?  I don't see a mention of BTC or ETH for their ICO, but only options to use fiat services.

It does seem like a new spin on the lending concept. Previously, you would have to liquidate all your crypto positions if you want funding or cash, but if you could put up your digital assets as collateral, then you don't have to give up your coins. It's almost like a professionalized or a structured platform for doing this as an alternative to the loan services you can find on bitcointalk (where your coins are your collateral).

From some of your questions and explanations, I do not seem to understand, I will begin to understand what you are talking about Salt. What about borrowing us as lending will give what guarantee? 

Salt is interesting enough and I have bought some.
Say you want to borrow $10,000 but don;t want to sell your cryptos.
You put up your Crypto as collateral and take the loan.
You then pay off the loan in - say 2-3 years.
You get your cryptos back at their current market value ( so you haven't lost any value over that period.
You will need to keep up your payments though.

The loans will be offered at the best rates as Banks are recognising the value of Cryptos and see this as solid collateral and will compete for the business.

Lets say you currently have a $100,000 mortgage and are paying 3.8% interest.
You could take out a $20,000 loan for 3 years with SALT at let's say 3%.
Your mortgage is now $80000 and you are paying less monthly which can be used to pay off your loan.
3 years later you do the same thing - by now the loan rate is 1.5% as SALT has increased in value and recognition.
Eventually you've paid off your loan early saving you $$$ and you still have your cryptos at the prices in 3 years.

If there are any financial experts who can correct my thinking above - please feel free to do so...

Doesn't seem like anything special, there's quite a few sites dedicated to loaning money.. I don't think blockchain would help..

SALT - https://membership.saltlending.com/register

From their website "SALT lets you leverage your blockchain assets to secure cash loans. We make it easy to get money without having to sell your favorite investment."

This is an interesting project but does it really solve a problem? Would the terms really be more favorable with blockchain loans?