“Have you ever needed cash for something urgent? In the past, you might have sold and incurred a taxable gain or loss. Now you don’t have to.”
This factor alone is what explains the DeFi explosion: freeing up cash w/o incurring a tax hit.
Spell it with me :
Fractional reserve Bitcoin.
This is the confirmation that Conbase does not have the Bitcoin they claim to have.
If you have coins in the base, take em out while you still can.
This is not financial advice. https://t.co/x5wxMJ9sP3
RT @HaileyLennonBTC: I really enjoyed working on this project and the margin lending project during my time at Coinbase
The amount of innovation, product design and education of regulators was no easy lift.
Coinbase to Offer Bitcoin-Backed Loans to US Customers https://t.co/gBcZiRB6NL
I'm talking about trading fee, and earning interest . Earning interest on both dollars and crypto are paid out daily on anchorUSD. Crypto backed loan already happened on anchorUSD, so no reason for me to use coinbase anymore
The entire point of cryptocurrencies was to get rid of a debt driven economy.
Why are people so eager for crypto exchanges to take the role of current fiat banks.?
The point of cryptos is to change the way humans were using money, i.e. centralized and controlled by big players.
The market for DEFI is huge but new users don't trust or know how to use those platforms, so centralize it on coinbase (like many of CEFI lenders like NEXO) and profit due to an easy customer experience
Hell yeah. Coinbase has been putting in THE MOST WORK out of all exchanges. Sure their fees are still high, but y'know what--they've done a darn standup job of trying to prevent attacks, comply with regulations, and work with governments to establish financial practices.
They list a lot of shitcoins & crash anytime the market makes a big move, but we’re stuck with them so might as well hope they put everybody’s money to good use and build infrastructure to help grow the market
Unfortunately due to unforeseen market conditions, your bitcoin loan was quickly liquidated at $10 per BTC. No the price did not go as low as $10, and no the amount was not enough to cover your loan. We have confiscated all of the assets in your account & we will be forced to send you to collections if you don’t send the full amount due to us within 3 business days.
Thanks for using coinbase, please tell your friends about us!