Quantcast
[ 3 / biz / cgl / ck / diy / fa / g / ic / jp / lit / sci / tg / vr / vt ] [ index / top / reports / report a bug ] [ 4plebs / archived.moe / rbt ]

Due to resource constraints, /g/ and /tg/ will no longer be archived or available. Other archivers continue to archive these boards.Become a Patron!

/biz/ - Business & Finance


View post   

[ Toggle deleted replies ]
File: 71 KB, 694x609, 4BF81CA3-DD70-435F-ADB5-3CDC42A40CA7.jpg [View same] [iqdb] [saucenao] [google] [report]
28822988 No.28822988 [Reply] [Original] [archived.moe]

I owe AAVE 50 etherium which is roughly 90 thousand dollars right now

>> No.28823051

>>28822988
Lol just don't pay. It's not like they have your identity.

>> No.28823249

>>28823051
Yeah I already deleted the app

>> No.28824079

>>28822988
Yikes

>> No.28824140
File: 42 KB, 550x547, 1612780605225.jpg [View same] [iqdb] [saucenao] [google] [report]
28824140

>>28823249

>> No.28824178

>>28822988
How can I follow your ways, mighty anon?

>> No.28824244

Anyone ever use compound? I feel stuff is pretty high would like to get a usdc loan and just see if it goes up or down. I have downs

>> No.28824266

>>28822988
>borrowing an asset that has recently experienced 2200% in growth
why?

>> No.28824287

Can someone explain to me how people even get "loans" from aave given anyone could just walk away? I dont understand how aave works at all

>> No.28824320

why didn't you borrow usdt or some other stable coin?b

>> No.28824367

>>28824287
your collateral is worth more than what you get loaned at the time

>> No.28824479
File: 7 KB, 255x220, 1612347526129.jpg [View same] [iqdb] [saucenao] [google] [report]
28824479

>>28823249
so if i delete my bank info i dont owe more than 10k debt?

>> No.28824513

>>28823249
>>28824479
So wouldn't you just lose your collateral now?

>> No.28824553

>>28824367
So lets say you borrow 1 ETH at $1000, then fast forward 2 months that ETH is worth $5000, but technically you owe 1 ETH so you actually owe them $5000 not the $1000 you borrowed at?

The fuck?

>> No.28824557

>>28824266
uhh its called shorting

>> No.28824580

>>28824513
yes this is the most retarded thread ive ever seen

>> No.28824593

>>28824287
You put up collateral, and you receive 75% of its value as a loan.

>> No.28824594
File: 271 KB, 489x501, 1612592508583.png [View same] [iqdb] [saucenao] [google] [report]
28824594

>>28824513
what collateral lol, i already took all my money out

>> No.28824618
File: 1.14 MB, 220x220, 1611531374592.gif [View same] [iqdb] [saucenao] [google] [report]
28824618

>>28824513
Yes

>> No.28824695

>>28824553
That cant be how it works, ive never done though so dont know

>> No.28824720

>>28824593
So lets say you put up 1 ETH as collateral, if you receive 0.75 ETH as a loan what is the point of this service wtf? Or do you mean you get 1.75 ETH as a loan? Whats stopping someone from depositing collateral, taking the ETH and running? Im so confused

>> No.28824758

>>28824618
Is that real????

>> No.28824853

>>28824618
WHAT

>> No.28824885

>>28824720
uhhhh, I might be retarded, but I think the collateral is stopping them fronrunning with the load on .75 ETH

>> No.28824968
File: 58 KB, 200x200, kek.png [View same] [iqdb] [saucenao] [google] [report]
28824968

>>28824720
>mfw I just bought AAVE

>> No.28825029

>>28824885
Then what is the point of getting the loan in the first place when you have 1 ETH, thats what I dont get. Why deposit your ETH as collateral when you have more than the loaned amount?

The point of a loan is to get something for nothing but in hopes of the creditor being paid the principal plus interest.

>>28824968
I dont own any or even needed its services whatever that is..

>> No.28825074

>>28824720
Have ten ETH
Want new shitcoin
Don't want to sell ETH
Deposit ETH with Aave
Borrow 5 more ETH
Swap borrowed ETH for shitcoin
Shitcoin moons
Sell shitcoin
Pay Aave Debt
Profit

>> No.28825200

>>28824553
yes correct. I dont know why you would do this.

if you wanted to long ETH you would borrow USDT and buy ETH, then repay the USDT +interest once you hit your price target.

if you wanted to short ETH you would borrow ETH and sell it short for USDT and buy back in when the price falls.

You can also Long/Short pairs of crypto, for instance BTC/DOGE if you were bullish about crypto in general but bearish on Doge specifically.

>> No.28825292

>>28825200
Probably helps people control their FOMO urges. Not having your whole stack to gamble sounds like a good idea

>> No.28825366

>>28825074
So what happens in the case where you get rugged and lose your 5 borrowed ETH? You lose 5 ETH from your 10 collateral deposit correct?

In other words what the fuck is the point of this service if in one scenario or another you're just going to end up losing your ETH either way (unless you get lucky)? And even if you DO get lucky with your shitcoins mooning, the chances are your original loaned 5 ETH would have appreciated in price leading to this situation >>28824720

>>28825200
Thanks for confirmation, I figure only borrowing stablecoins is worth it, it makes no sense to use anything other than an asset that doesn't change in value

>> No.28825733

>>28825074
>Shitcoin moons
Literally flawless plan

>> No.28825982

>>28824853
>>28824758
Very real

>> No.28827370

>>28825029
If you’re confident that you will not default on the loan, then you’re financing whatever investment costs the .75 eth you’re bothering. If that investment pays well enough to pay the loan AND make you extra profits above the loan payments, you’re making profit. Then, when you off your loan, you get your 1 eth back and keep whatever profit you made above your loan payment. It’s a move to make if you’re confident your investment. I am also an idiot who doesn’t know anything.

>> No.28827371

>>28825366
>Collateral 1 eth
>eth is 1800$
>borrow half (900$)
>throw down on a shitcoin
Assume it moons
>loan is now worth 3000$
>but eth is now 2000$
>you 1000$ now in eth
Idk man this seems like a good deal. Especially if it’s interest free.

>> No.28827515

>>28827370
*borrowing

>> No.28827969

Should have used askolend. Heh nothing personal kid

>> No.28829291

>>28823249
holy fuck I havent lold like that in ages

>>
Name (leave empty)
Comment (leave empty)
Name
E-mail
Subject
Comment
Password [?]Password used for file deletion.
Captcha
Action