SSD makers start warning that mining products like ChiaCoin will void warranty

Re:SSD makers start warning that mining products like ChiaCo... by arp242 on Saturday May 01, 2021 @02:58AM (#27003965)

> If I want to right now, I can get a multimillion dollar loan, no questions asked, against most any crypto I own for an interest rate lower than credit cards or scammy payday loans will charge

Giving people loans with "no questions asked" has lead to significant amount of problems in the past.

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Re:SSD makers start warning that mining products like ChiaCo... by trophycase on Saturday May 01, 2021 @04:34AM (#27004475)

I see your point but they are collateralized. Let's put it this way, my friend just bought his house and spent 2 weeks with mortgage agents and brokers. Meanwhile I deposit some ETH-USDC LP into maker and in 2 minutes get a no questions asked loan at 3.5%. Sure it's lower leverage when compared to most mortgages but I think my point still stands.

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Re:SSD makers start warning that mining products like ChiaCo... by qwytw on Saturday May 01, 2021 @05:58AM (#27004918)

What happens when the price of BTC/ETH falls by 50%? I don't see how would lending at 3.5% (unless it's very short term) would make sense considering the risk.

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Re:SSD makers start warning that mining products like ChiaCo... by arp242 on Sunday May 02, 2021 @10:45PM (#27021109)

And what happens if you can't pay back this loan? And what happens if thousands or even millions of people can't pay back their loans?

The current systems may not be perfect, but they do exist for a reason. Chesterton's Fence and all.

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