Yes, I’m genuinely surprised you found me—I thought SN was supposed to be anonymous!

Funny, but just proves my point)

12% is definitely more attractive than what the market is offering right now, but the 50% LTV still gives off strong 2008 GFC vibes—back when people were encouraged to borrow against their homes because the housing market was seen as a “number-go-up” technology. In a major market crash, banks could end up seizing a large portion of the BTC used as collateral.

Now imagine you're a player like Saylor or Mallers, sitting on a massive BTC treasury. You’ve issued loans, and you know that a 50% drop in BTC price will trigger mass liquidations. If you also happen to know when and how to push the price down, you could short BTC, dump your holdings to crash the market, profit from the short, and then scoop up all the liquidated BTC with your earnings.

You’d end up owning even more BTC—at half the price. Probably illegal, though. Could all be absolutely not how it works, correct me if I'm wrong;)

Unfortunately, this isn't how it works for most people right now. I doubt there are even 100 people on the planet who can truly live without any exposure to fiat currency. Even for those fully committed to a Bitcoin standard, fiat still dominates as the unit of account. For example, if you need to fix your roof—even if the roofer accepts BTC—they'll likely still quote the price based on the BTC-to-fiat exchange rate. So if Bitcoin happens to be down at that moment, it could significantly impact your savings

Imagine this scenario - you have stacked 0,5 BTC, then life happens and let's say you need 25000 USD to pay for whatever shit happened in your life. At the same time there is a black swan event in the market (as all the shit happens at the same time) and BTC dips to 50k.

Your solution is to say - "that's what the savings are for" - and say goodbye to half of your stack?

So looks like Canada is voting for bugs for another 4 years

I think we entered the era of superboringcycle where bitcoin price will just slowly go up and all the people who were buying it to get rich quick will get bored and leave.

Here is another interesting link with all the countries calculated - so seems it's confirmed https://x.com/typesfast/status/1907600619420147833

Funny if it's all just a rug pull=)

I think there is some heavy compression going there;)

Ok, now I need to know how LNURL-Withdraw enabled wallet works=)

So withdrawals are manually processed by you?

Yes, this sats doubling on LNBoards really makes it spicy=))

Yes, please, it's super fun, though I feel there are only 3 people posting now=)

So right now you can buy a whole Manhattan for approx 5k sats, interesting

So did we crash it already? Interface seems unresponsive

Nice!

I've had the same thought but struggled to put it into words. When your net worth is entirely in Bitcoin, short-term price drops can make things difficult—especially when you need to make a purchase. It creates a tricky cycle: holding cash feels like being short on Bitcoin, but holding only Bitcoin means a price drop in fiat terms feels like everything in your life just got 20% more expensive.