Alt-Coin SALT

[Bucketeer]

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Dear: xxxxxxxxx,

Thank you for applying for a Blockchain-Backed LoanTM. One of our loan specialists is reviewing your submission and will reach out with offered loan terms and next steps. Due to the rollout of our product launch, there may be a waiting period.

Regards,

SALT Lending Customer Service Team
SALT Lending Holdings, Inc.
PO Box 8350
Denver, Colorado 80201-9998

[natsb88]

Jan. 8 update — in the community Telegram channel, one of SALT’s employees posted the following clarification to the loan conditions. While SALT can be used to repay principal and interest, early repayment is not possible, which limits the profitability of the arbitrage trade. Tomorrow, we will publish a retrospective on the events of the past couple weeks and what the arbitrage opportunity is like with this additional information.

“There has been a lot of questions regarding the use of SALT to repay principal and interest. When we announced this option it was always stated with the clear message that there would be limitations and conditions, and terms of each would be finalized at the origination of each loan. At this time, one of those limitations is the early repayment of a loan. This means that you can repay 100% of your loan’s monthly payments of principal and interest with SALT. This is subject to change, but we intend to keep this going into perpetuity. The ability to repay ANY portion of the principal is something that was announced for the first time when we launched, and we are glad to be able to add this use for SALT for our community.”

https://medium.com/@starscapecapital/ar ... 0accd05d18

So you cannot pay it off early.

And then this application: https://imgur.com/a/9p69L

Shows this:

Loan-to-Value & Interest Rate

20% LTV, 10.00% APR
40% LTV, 14.00% APR
60% LTV, 18.00% APR
80% LTV, coming soon

Term - 12 months, 24 months, 36 months

So the best you could do would be 12 months @ 10% and would require locking up ~3.5 BTC for a $10,000 loan. You should pay $550 in interest. $10,550 total with SALT valued at $27.50 would require 383.64 SALT, plus 1 SALT for the membership and 0.5 SALT to transfer from Bittrex to Salt. Current ask on Bittrex is around $13.60, making the total cost of the $10,000 loan $5237.90. Not accounting for any BTC transfer fees. Make $4762 in 12 months by locking up $50k worth of BTC. That's like getting a 9.5% return on your idle BTC, plus the BTC is likely to increase in value over that 12 months.

This is assuming you get 100% of your BTC back. I don't see anything suggesting otherwise.

They can choose to recall the loan if the LTV rises to more than 80%.

[Bucketeer]

Good post Nate, SALT is really misunderstood.

[natsb88]

With the relative cheapness of SALT, and the interest rate increasing at a lower ratio than the LTV, it's actually a better return to jump to a higher LTV and pay the higher APR.

$10,000 loan, 60% LTV, 18.00% APR, 12 months

Interest: $1001.60
Total to pay back: $11,001.60 / $27.50 = 400.06 SALT
+ 1 SALT membership fee + 0.5 SALT transfer = 401.56 SALT
x $13.60 on Bittrex = $5461.22 total cost

$4538.78 gain in 12 months for locking up just 1.17 BTC, or a 27.2% return on idle BTC.

-----

About the same when you jump to the next membership level and max out.

$100,000 loan, 60% LTV, 18.00% APR, 12 months

Interest: $10,015.99
Total to pay back: $110,015.99 / $27.50 = 4000.58 SALT
+ 10 SALT membership fee + 0.5 SALT transfer fee = 4011.08 SALT
x $13.60 on Bittrex = $54,550.69

$45,449.31 gain in 12 months for locking up 11.7 BTC, or a 27.3% return on idle BTC

-----

Unfortunately I can't really take advantage with my 0.013 BTC

[Bucketeer]

YouTube: SALT Lending = Instant Moonshot! (Bix Weir)

[Bucketeer]

EthLend vs SALT

[Bucketeer]

Medium: A SALTy Story — SALT Arbitrage Review (4 minute read)
https://medium.com/@starscapecapital/a-salty-story-salt-arbitrage-review-e162df0d13dc

[Bucketeer]

Reddit: Why arbitrage will still work, maybe even better. (Lirsrof)

You get a loan for $1k, or any amount in multiples. You immediately take the distributed amount and buy as many salt as needed to make the monthly payments. Right now that would be 40 SALT, counting 10% interest, at a cost of approximately $600. Pocket the other $400 or spend it or do what you want.

No matter what the BTC does you will have your SALT to make the payment. Theoretically SALT will not ever lose its value or go down. But, it may and likely will rise. Say it goes to $30 or even up to $50 or $100 during the course of your loan. You now have $400 in free cash plus bonus leftover SALT that has a pretty good value.

It isn't an overnight boom, except for the $400, that is immediate cash in you pocket. Yes you have to lock up about $16,670, but that is still yours gaining value as BTC rises. Which makes you become a hodler. Then as SALT retail rises you can unload some if you want for immediate cash or trade.

This is actually a pretty good win for everyone but the day trader.

https://www.reddit.com/r/SaltTrader/comments/7p6mis/why_arbitrage_will_still_work_maybe_even_better/

[Bucketeer]

SALT has got to be the safest bet in crypto. Other coins may have better performance, but at current prices, SALT is an easy winner.

You buy their tokens at $12-$14 on an exchange, take out a loan, collateralize it with some BTC/LTC/ETH/XRL/DASH, and repay it with your SALT tokens, which SALT will accept at a face value of $27.50.

So simple a caveman could do it.

[Bucketeer]

Reddit: Ocean Chain will publicly issue OC tokens to create an ecosystem of marine fisheries - A Qtum Dapp.
https://www.reddit.com/r/Qtum/comments/ ... tokens_to/

Posted to the wrong topic, re-posted to the Qtum topic.

[Bucketeer]

SALT must comply with US banking and credit laws.

Per their abstract (numbering is mine):

SALT Lending Holdings, Inc., and the loans originated through the SALT Platform, must comply with applicable state and federal lending and usury laws, such as:

01) the federal Consumer Credit Protection Act,
02) the Truth-in-Lending Act, the Equal Credit Opportunity Act,
03) the Fair Debt Collection Practices Act,
04) the Dodd-Frank Wall Street Reform and Consumer Protection Act,
05) the Servicemembers Civil Relief Act,
06) the Military Lending Act,
07) the Bank Secrecy Act,
08) the USA Patriot Act,
09) the Electronic Fund Transfer Act,
10) the Electronic Signatures in Global and National Commerce Act (ESIGN)
11) other federal and state laws governing privacy, data security and prohibiting unfair or deceptive business practices.

[Bucketeer]

Good discussion here about SALT Lending
https://thebitcoin.pub/t/salt-loans-discussion-area/19260

[Bucketeer]

steemit: SALT lending and Wax (opskins) - The most undervalued cryptocurrencies

https://steemit.com/cryptocurrency/@abohlund/salt-the-most-undervalued-cryptocurrency

[Bucketeer]

Medium: Arbitrage opportunity brief — SALT Lending
https://medium.com/@starscapecapital/arbitrage-opportunity-brief-salt-lending-e30accd05d18

[Bucketeer]

.

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Dear SALT Community,

The year is off to a fast start - here are some of the highlights from the first full week of 2018!

SALT continues to roll out our platform at a careful pace and security remains our primary focus. As new members and loan requests continue to expand, so do the jurisdictions in which we are serving loans. Thank you for helping us create the future of lending!

Active members: 54K+ (approx.)
Funded loans: $7M+ (approx.)
Loans in work: $28M+ (approx.)

The North American Bitcoin Conference
On January 17-18 the SALT Team will be at TNABC in Miami. If you're at the event, please stop by our booth. Tickets available here: https://btcmiami.com/


The Bitcoin, Ethereum & Blockchain Superconference
On February 16-18 come see SALT CEO, Shawn Owen, speak in Dallas at The Bitcoin, Ethereum & Blockchain Superconference. Tickets available here[url]: https://www.bitcoinsuperconference.com/[/url]


Reddit
Our subreddit is growing, join the conversation! https://www.reddit.com/r/SALTLending.



Thank you,

The SALT Team




* Some restrictions apply. Subject to KYC, AML, and suitability screening.

[Bucketeer]

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Dear SALT Community,


The SALT Lending team has grown significantly over the past few months. As we continue to pick up the pace on our product rollout, these recent additions to the company roster will be vital to improving the speed and quality of our platform, product and organization.

Improved Identity Verification

Responding to community feedback regarding the lackluster speed of ID verification, we are pleased to announce our improved identity verification system. After much labor and testing by the SALT Development team, a solution has been built and its performance is superb. The platform update is now live. While the upgrade may require some of our existing members to re-submit their ID for re-verification, the great news is that members can expect approval in minutes!

When uploading your ID, optimize the process and adhere to the following:
- The photo is high resolution (make sure that file size is not over 8 MB) and not blurry.
- The flash is turned off. Also, make sure that there isn't a natural glare when taking the photo.

Platform Tally

65,267 Active Members
$39,190,000 in Funded Loans
As you login to your account, you may encounter our new Master Loan Agreement. Please note that no action is required on your part until the origination of your loan. Feel free to contact support@saltlending.com with any questions.

Industry Events
Find us at these upcoming events!

Global Blockchain Summit
April 19, 2018 - April 20, 2018
Denver, CO, USA
(speaking)

FLAIA: ABC Forum
April 25, 2018 - April 26, 2018
Miami, FL, USA
(speaking)

Consensus 2018
May 14, 2018 - May 16, 2018
New York, NY, USA
(sponsor, exhibitor)

COMPLY 2018
May 16, 2018 - May 17, 2018
New York, NY, USA
(attending)


Thank you,

The SALT Team

[SilverDoge]

Skip to 10:30 mark for his update on SALT. Thoughts?

[Bucketeer]

The author is correct in his analysis of SALT, but selling out is a mistake. SALT has kinda stalled right now. However, there are a bunch of people that want to "cash out" their gains with a loan. The taxes on their gains will be enormous.

The Crypto-economy needs lenders.

SALT offers a margin loan with high interest rates and a high loan to value rate. The price of the SALT coin makes the loan very attractive.

I don't think that Erik Voorhees (Shape Shift CEO) would be on the board of directors if SALT was a scam.

SALT is gonna be a big winner.

[Bucketeer]

Just received this email from SALT.

Dear Valued SALT Lending Member,

Thank you for applying with SALT Lending! Unfortunately, due to our current lending constraints, we are not able to service you at this time. However, we are working diligently to expand our ability to service members globally. We anticipate the announcement of multiple new lending jurisdictions soon. Please stay tuned for updates through our newsletter and social media announcements.

In order to expedite your request, once jurisdictionally approved, please simply reply to this email and let us know if we need to update any of the following:
Desired Amount
Location
Funding type: Consumer or Commercial
If there are any other issues you would like addressed, please don’t hesitate to contact us.

Sincerely,

The SALT Lending Team
SALT Lending Holdings, Inc.
PO Box 8350
Denver, Colorado 80201-9998