All About SALT

mrees999
By mrees999 on Thu, Jul 27, 2017 - 7:39pm
Secured Automated Lending Technology
 
It's a new kind of bank and lending platform.  For those not wanting to actually sell their crypto to handle the everyday needs of buying a car\house or whatever, use it as collateral recognized by lenders in the new program.
 
Lenders get the benefit of having your crypto locked up in a smart contract where they can easily retrieve it if customers do not pay the loan back as per the contract. They don't have the expense of repossessing a physical item - or the legal hassles as it is done in automated contracts that revert ownership to them as per the contract.  They don't need to do credit checks as the baskets of crypto currencies warrant them unnecessary.
 
I know I hate to sell crypto back for USD to take profits as it is essentially going long the dollar and shorting crypto which is for madmen if you've watched the price skyrocket for the last few years as the BEST investment class of everything world wide each year it has been in existence (except for 2014) by orders of magnitude. With this program, you keep the appreciation (expected) while putting it to use.
 
SALT memberships will eventually sell for $10 per unit but in their private sales before becoming public have sold for a huge discount. The $1.50 round is now over and the $3.00 round will likely begin in a few weeks, once the BTC split has been settled. 
 
Of course do your own research and I'm not giving advice, but in my opinion, this is another paradigm changing development. 
 
See the Forbes article that speaks of it here:
 
If you are interested, sign up to join early and experiment with this new platform (or possibly purchase your early access) here:
 
BTW, I'm not paid or provided anything for bringing this to your attention in case you were wondering.  I just share what I think is interesting.  
 
If you think this is the dumbest thing you've ever seen - let me know why. ;-)

1 Comment

MJB's picture
MJB
Status: Silver Member (Offline)
Joined: Jan 5 2016
Posts: 117
ICO and other

I've heard of this.. the first round seemed to take a lot to participate. I contacted their team. They said I had to download shapeshift's desktop version.?

Pricing is correct, $1.50 now at $3. Any advise on how to participate other than downloading shapeshift Mark?

Fee structure on the loans and interest rates will be interesting to see. If the $10 per token price holds it means to access the loan platform will cost $300. $10 x 30 SALT tokens.

I would argue the upside is limited beyond the $10 mark. Have to ask how much future borrowers will be willing to pay for the access to fiat. 

Where the future is heading is anyones guess but the Populous Token will be interesting if 'Phase Two' can be implemented. It is promising a stream of fiat cash flows... Will be interesting to see if they can deliver because this concept is different than many cryptos. Maybe TenX, AdEx and Veritaseum can be thrown in there as well?

I agree SALT will be a hot space, at least until crypto is in the mainstream and used for everyday transactions by the masses. At that point what's the point in fiat conversion?

...

I went to my first ETH meet up in St. Louis earlier this week, St. Louis may not be a good example because we seem to be way behind the curve.. :)

It became apparent quickly that if you 1) had a hardware wallet 2) owned more crypto than BTC/ETH/LTC you were in the minority. Thanks to you and PP I was able to offer some decent advice about hardware wallets and different exchanges to make transactions.

Lastly, I did learn that encryption seems to be the "big focus" going forward. As more and more info gets put on the blockchain privacy and security will come to the forefront. I expect new breakthroughs in this space with so many new people coming into the space. No one was a full time developer, all weekend and after work warriors but all focused on encryption.

 

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