Hodl Hodl has blocked access to its lending platform for users in the USA. \ stacker news ~alter

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Hodl Hodl has blocked access to its lending platform for users in the USA.medium.com/hodl-hodl/effective-immediately-hodl-hodl-has-blocked-access-to-its-lending-platform-for-users-in-the-usa-11c294369850

1856 sats \ 17 comments \ @Rsync25 23 May alter_native

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21 sats \ 0 replies \ @0xbitcoiner 23 May

At least it didn't go bankrupt. It could have been worse, that's why I don't use or recommend this type of service.

list of excluded countries:

You are not a citizen, a permanent resident, tax resident or located at the United States of America (including its states and the District of Columbia), the Virgin Islands of the United States, or any other possessions of the United States of America, Cuba, North Korea, Iraq, Iran, Puerto Rico, Somalia, Syria, Sudan, or any state, country, territory or other jurisdiction that is embargoed by the United Nations;

40 sats \ 3 replies \ @StoneCodlHodl 23 May

Corporations in Bitcoin are proving themselves PATHETIC.

100 sats \ 2 replies \ @kristapsk 23 May

Would be better if they got closed and we don't have such platform at all? HodlHodl is very useful for the rest of the world for non-custodial OTC Bitcoin vs fiat trading. There is Bisq Network, which is less blockspace effective and less user friendly, that can't be censored, as alternative.

110 sats \ 1 reply \ @StoneCodlHodl 23 May

Yea - but we've also seen Phoenix, Wallet of Satoshi [meh], and recently IBEX a fantastic merchant service on-ramp - leave the USA.

"Land of the Free!" Pfft. More like a 1980's USSR wanna-be communist shit-hole.

42 sats \ 0 replies \ @kristapsk 23 May

Problem is in USA, not companies. I would also definitely better ban USA and develop stuff for others instead of spending that time fighting in USA courts and risking jail time.

11 sats \ 0 replies \ @Coinsreporter 24 May

I'm now fully convinced that these centralised services will be puppets in the hands of governments. We need more and more decentralised platforms if we want to retaliate them.

0 sats \ 2 replies \ @OT 24 May

I thought they always have blocked US users

10 sats \ 0 replies \ @kristapsk 24 May

For OTC Bitcoin vs fiat trading, not stablecoin lending against BTC.

0 sats \ 0 replies \ @kristapsk 24 May

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0 sats \ 3 replies \ @BlokchainB 23 May

Well this sucks hahah I used this platform to offer cheap loans and now I can’t. So much for financial freedom

10 sats \ 2 replies \ @kristapsk 23 May

Use VPN?

0 sats \ 1 reply \ @BlokchainB 23 May

I could but one time you forget to turn it on poof exposed

50 sats \ 0 replies \ @kristapsk 24 May

You will just not be able to access the site while VPN is off.

0 sats \ 3 replies \ @tolee 23 May

How does a platform called hodl get involved with lending? RIP more fiat garbage.

10 sats \ 2 replies \ @kristapsk 24 May

It's directly related to hodling. When you need fiat for daily spending, instead of selling BTC, you take USDT loan against your BTC. Same strategy as super rich people like Elon Mask use - they don't sell their Tesla or whatever stock, they take USD loans against that stock.

0 sats \ 1 reply \ @nullama 24 May

But how does it work, as in, they would have to pay that loan eventually.

10 sats \ 0 replies \ @kristapsk 24 May

You bet on increase of BTC price, if it goes up in USD terms, you spend less BTC on paying back. Or you could get a new loan, to pay back USDT for the old one, without selling BTC.