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I like owning as much bitcoin as possible and no fiat as well… so check this out: We are working on a line of credit product that will, in real time, extend a credit line against your BTC to make Lightning payments, pay bills, etc. This way, you don’t have to part with your bitcoin OR own fiat to live in today’s society. Hoard bitcoins, borrow fiat paper for payments. You can manage the line of credit and pay it down via your direct deposit or any other funding method. It works just like a credit card today, except it’s secured with BTC, so the terms and everything else about it is way better. This will allow living on bitcoin and speculative attacking fiat at a massive scale for all. A true suite of bitcoin banking services that feel natural and easy. I cannot wait to launch everything we are building View quoted note β†’

Replies (68)

Everyone can make their own decisions, but borrowing at all is not something we should regularly do. And additionally, the interest rate that one is likely to get on this borrowing will probably not competitive enough to consider it a "speculative attack". Rather, it will set at a rate that most likely makes it considered irresponsible borrowing in nearly all cases. Unless there is some tax advantage to this borrowing that makes it all justified... Just my two cents. DYOR! View quoted note β†’
↩ replying to npub1kvmz...hcmu
I would not call myself a "pleb". Pleb means slave. Plebeians, or lower class β€œcommoners”, are controlled by Roman Common Law to become the debtors. Patricians were the upper class who benefited from the credit of the people by making them both the creditors and the debtors. Note: the origin of the name β€œcourt” is a place to trade debt and bonds; this has been going on for over 2000 years, and has not changed to this day. A real bitcoiner is not a pleb, is a full sovereign individual. NOBODY is above him.
↩ replying to DarthCoin β‚Ώβš‘οΈ
That makes sense. By plebs i mean all the people who believe in it, and run bitcoin, and see it as money and a tool for freedom But i agree we are sovereign individuals not slaves. Mybe we should replace that "pleb" term I think this influencers and CEO,s of big companys even in the bitcoin space want us to believe that we need their help and services to adopt bitcoin when we don't. They clearly have an agenda and are not in our side Real bitcoiners understand that the only way out is to live as much as one can(hopfully 100%) in a bitcoin standard and dont take part in the fiat circus and use their trash currency by any means
By secured do you mean as a personal balance or given over as collateral? Would be more intetested if credit line was a card with a rate based on both my credit score and simply a personal sats balance. It would be nice to have credit score mean something to Strike given it is regulated/kyc.
↩ replying to npub1yll0...0psj
We have something similar on the roadmap as well. The wavecard already allows you to spend Bitcoin anywhere globally, by selling it at the last possible second and funding the fist payment for a merchant. You can either connect your LN wallet to spend from self-custody (via NWC) or store BTC on the wavecard custodially. Technically, the custodial BTC balance could be collateralized for a loan that is also then folded back into the same BTC on the card, essentially working like a β€œboosted” Bitcoin position that is partly spendable without capital gains. We’re on the same mission to not hold any fiat whatsoever, and to automate all liquidations into fiat at the recipient level, so that you, as a Bitcoiner, wouldn’t ever need to even care about any fiat balances.
it took a week to transfer from my bank to my Alby hub ..until now it hasn't arrived . and even the developer alby hub didn't know what to do when asked for support regarding received transfer . we have no power over our money cause when the money transfer arrived in 3rd party like Mt.Pelerin , Bitpocket or Bluemoon or rampant , then we can only hope the money arrived , cause the apps developer like Alby Hub , strike , zeus , bitpay, monero , or cashu or whatever they are not working together with the developer from the finance institution . that authenticate the transfer they are separate entities that connected only with so called integrates system. ( indeed API ) so when the transfer stuck in those third party apps most likely Apps dev can not help to resolve the problem . this is something need to work on for in future . I pray and hope my transfer arrived I would say it will took awhile before the big player like Apple Pay and google pay want to adapt the bitcoin payment system πŸ˜‡
@jack mallers - I've been trying to signup since Monday to your app. I cannot get past KYC. Apparently living on a sailboat and traveling around the world isn't part of the 'normal' way of life. I'm born US citizen, only a US resident, but currently don't have a US Cellphone or IP. Any help? Again, I'm fully legit and only USA on all documentation, permanent address is still US. I get an email once each night from your support team suggesting things that haven't helped. Thanks!