SALT Community Membership

[5thangel]

What a great start of the day, finally salt is on the move ... i am little late to the party 

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[5thangel]

woo hoo! we have lift off.. Salt new platform has launched price is up 21% in the first hour.. should be going to $35 so be quick if you are adding more.. I am all in!

Everyone was waiting for platform release so now we are getting ready for very promising 2018.

[iandoZ]

Main thread  - SALT Community Membership - is been update today:
https://bitcointalk.org/index.php?topic=2051305.0

[JayFKay]

What are they using to determine credit worthiness ?

How does Salt handle credit defaults ?

the answers to these are easy when you read the first line in this thread as posted by Salt Dev's..



SALT Community Membership

July 28, 2017,

"The SALT platform is meant to facilitate getting a loan, where the company holds your cryptocoins as collateral while you don't pay back the loan."

It's a simple solution that makes SALT 100% functional GLOBALLY!

[JayFKay]

And the nice thing for investors.. (in the middle of this slump im calling the Korea Konfusion).. is SALT aren't out there marketing and over hyping their new platform launch. They just tweeted its initiation and updated their official chat plus page one of this thread with the news and went back to quietly achieving. which means this will probably rise over a week or so rather than in one big pump.

which gives everyone a chance to acquire some Salt as it slowly out-perfirms the rest of the market.

nice!

The other question many investors need to ask themselves is - is this a currency I feel confident I can hold long term ie For more than a year to help reduce capital gains tax etc.

For me crypto's like Salt and Power Ledger have real world applications and aren't just a carbon copy of another currency so that answer is yes!


 

[Ali_G007]

https://membership.saltlending.com/register?r=pWx32

[ulhaq]

What can SALT be Used for?

In this blog, we will look at the SALT ERC-20 Token which our members can use to use our platform and get their Blockchain-Backed Loans™. Blockchain token sales have skyrocketed this year. Since SALT Lending successfully completed our discounted membership sale this summer, a myriad of tokens have joined us on the blockchain. What many have in common is they they share the ERC-20 component of the Ethereum protocol. This is a smart contract code that enables SALT to use the token mechanism to control access to its membership system.
https://blog.saltlending.com/what-can-the-salt-token-be-used-for-ce9ed25ab060

I was really looking forward to having my mind changed on the uselessness of those tokens but:

So what is the purpose of buying SALT? The medium post was deleted. No whitepaper on the website now.

Sure, I get the concept of lending fiat based on crypto collateral, but the profits could be distributed to the lenders of the fiat. The lenders are protected if the bitcoin has to be seized for nonpayment of the loan, but what is in it for the SALT holders?

[777asianinvasian]

What can SALT be Used for?

In this blog, we will look at the SALT ERC-20 Token which our members can use to use our platform and get their Blockchain-Backed Loans™. Blockchain token sales have skyrocketed this year. Since SALT Lending successfully completed our discounted membership sale this summer, a myriad of tokens have joined us on the blockchain. What many have in common is they they share the ERC-20 component of the Ethereum protocol. This is a smart contract code that enables SALT to use the token mechanism to control access to its membership system.

I was really looking forward to having my mind changed on the uselessness of those tokens but:

So what is the purpose of buying SALT? The medium post was deleted. No whitepaper on the website now.

Sure, I get the concept of lending fiat based on crypto collateral, but the profits could be distributed to the lenders of the fiat. The lenders are protected if the bitcoin has to be seized for nonpayment of the loan, but what is in it for the SALT holders?

The purpose of buying SALT is to get loans that are backed by crypto in turn giving you fiat money to spend. I am speculating on the SALT hodlers part but if SALT loans increase over time and therefore the price will increase over time meaning the value of each SALT should in theory increase over time. Basically if there is demand for the SALT token and the platform the hodlers would seem to profit even more than they currently would, would they not?

[ulhaq]

So what is the purpose of buying SALT? The medium post was deleted. No whitepaper on the website now.

Sure, I get the concept of lending fiat based on crypto collateral, but the profits could be distributed to the lenders of the fiat. The lenders are protected if the bitcoin has to be seized for nonpayment of the loan, but what is in it for the SALT holders?

The purpose of buying SALT is to get loans that are backed by crypto in turn giving you fiat money to spend. I am speculating on the SALT hodlers part but if SALT loans increase over time and therefore the price will increase over time meaning the value of each SALT should in theory increase over time. Basically if there is demand for the SALT token and the platform the hodlers would seem to profit even more than they currently would, would they not?

No, why would the value of SALT increase over time, and what do you mean by loans increasing? If the amount of each loan increases, the value of SALT does not change (because a fixed amount is required to purchase membership, that is independent of the amount borrowed). The collateral is not held in SALT.

The question is, how much SALT is needed to purchase an account? The total supply is 120,000,000. If the amount of SALT is very low, then there will be plenty for everyone and it would not be expected that the value should increase.

[JayFKay]

No matter what the situation launching a viable new platform that makes real world applications a go has to increase the value of Salt from what it was.

I'm investing in Salt because it's not just another carbon copy shitcoin and its filling a gap in the global market and in my country if you hold longer term i.e. more than a year, you pay way less tax on your profits when you do cash in. so Salt and Power Ledger together make up more than 2/3rds of my portfolio.

It's also worth noting, just for those looking at the $$ and cents that this week Salt is outperforming all of the coinmarketcap.com top 15 coins..

Bitcoin
ETH
Bitcoin cash
Ripple
Dash
MIOTA
Cardano
Monero
Qtum etc
NOTHING comes close - ripple up 20% for the week isn't even a third of the Salts gains.. which makes any short term arguments academic in my eyes.

Salt is smashing it!
+75% up even in a very crappy week! If it wasn't for Korea mucking around I think this coin would already be AUD$10 higher or more.
Just wait for the bounce-back!!

[JohnDoe3490]

No matter what the situation launching a viable new platform that makes real world applications a go has to increase the value of Salt from what it was.

I'm investing in Salt because it's not just another carbon copy shitcoin and its filling a gap in the global market and in my country if you hold longer term i.e. more than a year, you pay way less tax on your profits when you do cash in. so Salt and Power Ledger together make up more than 2/3rds of my portfolio.

It's also worth noting, just for those looking at the $$ and cents that this week Salt is outperforming all of the coinmarketcap.com top 15 coins..

Bitcoin
ETH
Bitcoin cash
Ripple
Dash
MIOTA
Cardano
Monero
Qtum etc
NOTHING comes close - ripple up 20% for the week isn't even a third of the Salts gains.. which makes any short term arguments academic in my eyes.

Salt is smashing it!
+75% up even in a very crappy week! If it wasn't for Korea mucking around I think this coin would already be AUD$10 higher or more.
Just wait for the bounce-back!!

I agree with your sentiment. One of the best things is that I see people trying to buy SALT tokens to arbitrage. I don't know if it will work but it is a nice idea.  SALT has value beyond just being a token. It may create a way to "cash out" via loans without taxes.

[Error: 14 Contact Support]

Am I correct in saying you can pay back your loan and interest using salt tokens valued at retail (currently shown as $27.50 on membership dashboard).

If so it seems like current market price of around $15-16 still gives as massive discount.

So borrow in $$$ and pay back in salt bought below retail?

[5thangel]

No matter what the situation launching a viable new platform that makes real world applications a go has to increase the value of Salt from what it was.

I'm investing in Salt because it's not just another carbon copy shitcoin and its filling a gap in the global market and in my country if you hold longer term i.e. more than a year, you pay way less tax on your profits when you do cash in. so Salt and Power Ledger together make up more than 2/3rds of my portfolio.

It's also worth noting, just for those looking at the $$ and cents that this week Salt is outperforming all of the coinmarketcap.com top 15 coins..

Bitcoin
ETH
Bitcoin cash
Ripple
Dash
MIOTA
Cardano
Monero
Qtum etc
NOTHING comes close - ripple up 20% for the week isn't even a third of the Salts gains.. which makes any short term arguments academic in my eyes.

Salt is smashing it!
+75% up even in a very crappy week! If it wasn't for Korea mucking around I think this coin would already be AUD$10 higher or more.
Just wait for the bounce-back!!

Very good post, totally agree with you about salt performance recently. A lot of happy people around

[Error: 14 Contact Support]

Over last few hours membership number on site gone from 42882 to 43209 and loans funded from $2,455,000 to $2,675,000. Seems like theyve got things moving.

Anyone taken out a loan yet?

[Add1ct3ddd]

Am I correct in saying you can pay back your loan and interest using salt tokens valued at retail (currently shown as $27.50 on membership dashboard).

If so it seems like current market price of around $15-16 still gives as massive discount.

So borrow in $$$ and pay back in salt bought below retail?

I'm glad it's not just me that doesn't get this either?

Or is this the SaltLending site's way of saying "look, SALT is too cheap right now" with the idea being people will buy up to its value of $27.50 ?

[corather]

Am I correct in saying you can pay back your loan and interest using salt tokens valued at retail (currently shown as $27.50 on membership dashboard).

If so it seems like current market price of around $15-16 still gives as massive discount.

So borrow in $$$ and pay back in salt bought below retail?

I'm glad it's not just me that doesn't get this either?

Or is this the SaltLending site's way of saying "look, SALT is too cheap right now" with the idea being people will buy up to its value of $27.50 ?

It encourages volume. The tech relies on people moving money, taking out loans. It's not unlike a grocer selling something at a loss to get people in the door.

[browndog785]

Am I correct in saying you can pay back your loan and interest using salt tokens valued at retail (currently shown as $27.50 on membership dashboard).

If so it seems like current market price of around $15-16 still gives as massive discount.

So borrow in $$$ and pay back in salt bought below retail?

I'm glad it's not just me that doesn't get this either?

Or is this the SaltLending site's way of saying "look, SALT is too cheap right now" with the idea being people will buy up to its value of $27.50 ?

SALT token price on exchanges is pure speculation. They officially value their tokens 27.5 USD each.
If you are able to buy SALT tokens cheaper somewhere (read: on exchanges) then it is up to you how much you are willing to pay for them.
So if you see some use cases of this token then go ahead and buy it.

Good luck applying for that USD loan from them. It is not as easy as it seems.

[browndog785]

Over last few hours membership number on site gone from 42882 to 43209 and loans funded from $2,455,000 to $2,675,000. Seems like theyve got things moving.

Anyone taken out a loan yet?

Wanted to ask the same thing... It seems there are a lot of loan applications and the main question here is "Are they able to satisfy the demand? Do they have enough USD for loans?".

IMHO it will be very problematic to receive a loan from them. The demand is huge.

Sure everyone can go ahead and buy some SALT tokens on exchanges, but it remains unclear if you will be able to pay the interest and principal (or both) with them on your loans and to what extent.
You can end up with useless tokens if you are unable to receive a loan from them.

The only real usecase for SALT token right now is the ability to purchase Membership on the platform.

[JayFKay]

Salts Market cap was 170 million dollars one month ago, it's already racing towards one billion us$ being in the high 800 millions. the rate of growth will take care of everything.

and those taking advantage of the arbitrage will soon have the price matching the platform price.

the only question is will you be on board or will someone else be making that money.

Salt is at a great price right now. if coinspot was taking more funds I would be topping up today!

[JayFKay]

Its also important to understand that currently they are only allowing a control group of enterprises to take out loans.

which i see as smart so they can weed out any issues.

4 million dollars in loans so far is a good amount to run all their trials and get their platform humming.

As soon as they open it up to induviduals globally the potential is simply massive. We're talking about a loan operation that can reach every city, town and neighbourhood on the planet but unlike banks pays no rent.

the arbitrage right now of $12.5 USD for tokens which can be used to pay back a loan with a value of $27.5, that is $15 for free per salt token credited towards your loan principal and interest.

A better deal than any bank.. the world will find out about this pretty quickly!

oh and it's on the rise right now.