heartofbitcoin

Borrow fiat on Block-Fi against bitcoin. Convert it to stablecoins. Deposit it on Block-fi and earn 8 percent interest. Only withdraw as you need it.

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bimmer

@heartofbitcoin 8.6% earned less 6.5% paid. What are we missing here?

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heartofbitcoin
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@bimmer You pay 9.5 percent and earn 8 percent, so it's a losing proposition. But if you're going to borrow a year's expenses anyway, better to put it on block-fi earning interest than to keep it in the bank as you use it over the course of the year.

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bimmer

@heartofbitcoin good idea!

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Majes

@bimmer @heartofbitcoin My experience with BlockFi has been very positive, applied on a Friday night, bank wire on Monday to bank, available Tue. Morn. The interest earned plus the tax saved far outways the interest paid. I keep 2.5 BTC in the interest account as well, that really adds to the gains, of course, keep main locked away in cold storage, but earning a lil in BTC is very exciting to me....

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