Debt Recycling to invest into Bitcoin

Hope he is alright…

 

Why wouldn’t he be?

 

crypto isn’t doing too great at the moment

 

Hey Paul,
Have you had any clients use BlockFi as a means of making BTC an income producing asset for the purposes of debt recycling?

 

You will go broke paying the powerbill.

 

That sound really illogical. How do BlockFi (being some anon website) produce income to pay you ? They must use your BTC to make $$$ somehow. They do so by lending and its unsecured - Actually it is secured by your taking risk you may never get all your money back if an adverse movement occurs. Its like lending $$$ to the bookmaker so he can onlend to a problem gambler and he offers you a crazy high risk rate to do that.

It ranks up there with red / green on roulette as a high risk.

This just sounds like spin and risk:
BlockFi generates interest on assets held in Interest Accounts by lending them to trusted institutional and corporate borrowers. To ensure loan performance, BlockFi typically lends crypto on overcollateralized terms (similar to the structure of our crypto-backed loans). Furthermore, BlockFi’s automated risk management system monitors positions 24/7, leveraging the same trusted risk management system used with BlockFi’s crypto-backed loans. BlockFi has the ability to terminate a borrow in a timely fashion and also manages reserve balances to facilitate client withdrawals from Interest Accounts.
BlockFi client funds are structured to be at the top of the capital stack, senior to BlockFi equity and BlockFi employee capital. This means BlockFi’s business and client incentives are aligned and BlockFi would take a loss before any client would. BlockFi implements very thoughtful risk management practices and technology to mitigate the risk, but you should not view the BlockFi Interest Account as a savings account or brokerage account with FDIC or SIPC insurance.

Its not even good grammar :
BlockFi has the ability to terminate a borrow in a timely fashion

Its like this idea I had for a new site. Neverpay.

 

Not if you get electricity for free. "Just DO IT" saying" (tm)