Why I'm NOT Investing In SALT Lending Platform
With crypto currencies hitting new highs there are so many great projects to invest in. I just looked into SALT in more depth and while I really wish the development team luck I think they are going to run into tons of regulation hurdles not only on the federal level but also on a state to state level. I also don't know if the platform will efficiently run on Ethereum since it can only do 15 transactions per second. If the loan business goes well I don't know if it can handle it if Ethereum doesn't scale sooner than later.
Another worry I have is that they will have a hard time finding people to lend since you have to be an accredited investor which means you have to have over $1,000,000 in assets besides your primary residence. Older people typically don't understand Bitcoin so I don't know how easy it will be to convince them. The lenders might end up being venture capitalist though so it might not matter. Also with the volatility of Bitcoin I almost feel like it might have to be set at 20% LTV or something very conservative. We just don't know if SALT is taking on any of the risk or if all the risk is taken on by the lender.
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I always pick the wrong investment probably because I am young but I just started holding my small investment long term
All things considered it will probably go up out of hype if nothing else. Right now most things are surging and there is so much money coming in that it can ride a wave for a long time.
It wouldn't be for maybe a year or more that things might show they aren't going as planned. Kind of like what happened with the Synereo project. Everyone had high hopes and they hadn't came up with much of anything in the end and people were disappointed.
I'm not saying that will happen with SALT. I really hope they can come out with a great working product.
While these are legitimate concerns, I would be doubtful if they hadn't already been considered. They are not a team of amateurs :)
You are right and I really hope they can execute and come up with a great product. Right now everything is pretty much going up so it will certainly make money I'm sure. It wouldn't be for maybe a year or more of work that people might start wondering what is going on if they don't have a great working product.
Kind of like what happened with Synereo. But you are right. The team I'm sure is very solid and they are tackling a very tough problem.
Agree with basically everything you say. The #1 reason I am not taking a position in SALT is because I see so many more intriguing projects out there.
Yeah there are so many projects that seem awesome and I already have my hands in a lot of cookie jars. With this one I would rather buy more EOS than buy SALT personally. I just think it is going to produce results faster.
Yea, I find the Komodo platform more intriguing
That's what's up.