SaltLending is evil compared to Bitconnect

in #bitconnect3 years ago (edited)

Why do I say SaltLending is evil? Start with their official video:

SaltLending encourages debt and financial slavery rather than financial freedom. If you want to risk being a debt slave then you give your hard earned crypto to be held by banker endorsed SaltLending so that you can spend dollars you don't really have? And I guess you have to pay them interest for the privilege of spending borrowed dollars? The whole thing is fkn senseless and is exactly what is wrong with the banking system. A lot of people in crypto are going to lose their collateral I expect.

ICOs (any startups) have a 90% failure rate. Investing in SaltLending is not something I would do even if for non-ideological profit making reasons. But from an ideological perspective it does not promote freedom.

Bitconnect pays you interest while SaltLending tricks you into debt, wtf?

So if the choice is do you want to get paid interest which may even be compound interest, or do you want to live off credit? Bitconnect is deflationary, and SaltLending promotes the inflationary model of spend more than you have, go into debt to banks, and then pay fees, interest, and risk losing your assets. Bad.Evil.

Sort:  

Congratulations @godcomplex! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Coin Marketplace

STEEM 0.16
TRX 0.03
JST 0.038
BTC 10439.83
ETH 336.22
USDT 1.00
SBD 0.95