SALT Community Membership

[finvestor]

Any plans to include other consumer lending products to the platform?

[sangwookie]

I think the momentum on this coin is lost and since the company has been successful on selling so many memberships. I think they should back some of the loans from members of the community that have membership with the money they have raised to put the idea to action. They should not have put this on exchanges - that seems it was motivated by greed and when the coin dropped and stayed low, I think it devalued the coin and the principals the coin was supposed to have. These guys are all from Silicon Value so I think they should do A/B testing and see which direction the coin will go in. If not, the developers and founders are just sitting around and taking their percentage as more and more people will lose faith in what was sold to us. Fool me once shame on you. As the cryptocurrency community gets more and more sophisticated those that have questionable projects will be out and their credibility lost forever.

[donieq]

"You are member #1273 in queue to be granted full access to the platform and the ability to purchase SALT Memberships."

That means i can not buy any salt ,  bofere i get full access ??

How long is to wait in that long queue ?

[xxxgoodgirls]

You can buy them from an exchange.

[sangwookie]

"You are member #1273 in queue to be granted full access to the platform and the ability to purchase SALT Memberships."

That means i can not buy any salt ,  bofere i get full access ??

How long is to wait in that long queue ?

Like the person above said, you can buy them on an exchange. Also, when they put them on the exchange it killed the value of the coin. You only need like 3 for membership so its a waste to buy a lot of them. I bought when this was the talk of the cryptoworld but I feel like I was scammed. Proceed with caution until they actual produce a product or service. They have enough money to start lending money now, I think they have legal issues to work through so they are stalling. If they come through on their promises, I will be their biggest supporter. Until then I am just a guy sitting on a stack of SALT. Blah

[Corey031]

"You are member #1273 in queue to be granted full access to the platform and the ability to purchase SALT Memberships."

That means i can not buy any salt ,  bofere i get full access ??

How long is to wait in that long queue ?

Like the person above said, you can buy them on an exchange. Also, when they put them on the exchange it killed the value of the coin. You only need like 3 for membership so its a waste to buy a lot of them. I bought when this was the talk of the cryptoworld but I feel like I was scammed. Proceed with caution until they actual produce a product or service. They have enough money to start lending money now, I think they have legal issues to work through so they are stalling. If they come through on their promises, I will be their biggest supporter. Until then I am just a guy sitting on a stack of SALT. Blah

But then why they are doing nothing? I have their membership too but it doesnt give me anything right now..

[Red_Sanford]

So after reviewing the prebuy options I am left to think that many people purchased salt at $5 . Is this correct ? So if I buy it now while it is under $4 I am getting it cheaper than some prebuys ?

I have only done preliminary research into this but it is available for US citizens but isn't this obviously going to be classified as a security

No, the team was very careful about defining their token so it will have no problems passing the Howey test. It is considered a "membership" token, not ---> a security as described in SECURITIES AND EXCHANGE COMMISSION v. W. J. HOWEY CO., (1946). (http://caselaw.findlaw.com/us-supreme-court/328/293.html)

Nowhere in your link does it reference the word member or membership being excluded from this. This makes is seem more like a ponzi scheme when you use the word membership.

Can someone address the Huge disparity between the current trading price and the price Salt is selling memberships for ?

Exactly! ---> A membership token is not a security.  The Howey test is a ruling that defines SECURITIES.  The SEC regulates SECURITIES, not MEMBERSHIPS, thus the agency's name, the Security and Exchange Commission.  And, nowhere in the classification of felines does it mention that a dog or canine is excluded from the group, but that doesn't mean that a dog is a cat.  It doesn't specifically explain to us that a dog is not a cat because it can be deduced that a dog does not fit the classification of a feline.

Call it whatever the hell you want. That's why there is a test to determine what is a security. I have a dog that I call kitty but guess what .. he's still a dog. FFS

[infested999]

Perhaps anyone in here that plans to lend fiat. Any idea what kind of interest rates we’ll see? What would be worthwhile for lenders?

[bithero]

This is interesting: https://twitter.com/EtherSummary/status/934240990369476608

SALT being a sponsor for this big investment event will give it a lot of exposure.  It's still a much needed product in this space and their launch should be by end of year according to the whitepaper.

[Umber]

How much time is spent on development? 3 years? 4 years?

[indeed]

"You are member #1273 in queue to be granted full access to the platform and the ability to purchase SALT Memberships."

That means i can not buy any salt ,  bofere i get full access ??

How long is to wait in that long queue ?

Like the person above said, you can buy them on an exchange. Also, when they put them on the exchange it killed the value of the coin. You only need like 3 for membership so its a waste to buy a lot of them. I bought when this was the talk of the cryptoworld but I feel like I was scammed. Proceed with caution until they actual produce a product or service. They have enough money to start lending money now, I think they have legal issues to work through so they are stalling. If they come through on their promises, I will be their biggest supporter. Until then I am just a guy sitting on a stack of SALT. Blah

I don't think you quite understand what you bought.  For the lowest level sure, but  for higher levels you need more. Secondly, there is more utility to the token than membership. You can use them to pay down the interest rates apparently. I don't know the details, but if this is anything like mortgage interest points, where you can pay cash up front to lower your interest rate, at a fixed $25 redemption value (even if you only paid current market rate of around $4 or less) that token has a lot of utility, particularly if you can get it at a discount rate, which we apparently can do right now.

In other words - if people can pay down interest rates at $25 per token, and we can buy them at a significant discount now, think about that for a minute...

Maybe I've got it wrong, but this seems like a big opportunity assuming the project launches as planned next month.

[millitrades]

SALT is going to shoot through the roof next month. My GOD!!

[5thangel]

This is interesting: https://twitter.com/EtherSummary/status/934240990369476608

SALT being a sponsor for this big investment event will give it a lot of exposure.  It's still a much needed product in this space and their launch should be by end of year according to the whitepaper.

Nice, i missed that...Actually, this is really good news as more awareness will go around about salt.

[infested999]

I was wondering what happens in a catastrophic event where bitcoin’s price drops, let’s say, 35%. If a client’s collateral is for example 1 bitcoin / 10k$ , and the price of bitcoin drops to 6$, the client can ‘run away’ with 8k$ in cash, and SALT platform ‘stays’ with one bitcoin worth 6.5k$. Am I right?
How’s SALT is going to survive in such a drop?

[iandoZ]

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

[Corey031]

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

Unfortunately, nothing really serious . Hoped we would get bigger news about project

[5thangel]

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

That's good but the team must be active in it, like they were active before on telegram and slack channel.Now is quiet everywhere. Quiet before the storm?

[KryptoMaze]

Hi guys,

Damn, I love SALTS business model. I am so freakin sure that the funds are just waiting in line to grab everything they can before it goes up 10x in price.
Strong Hands Brothers!
 

[zajjamai]

I was wondering what happens in a catastrophic event where bitcoin’s price drops, let’s say, 35%. If a client’s collateral is for example 1 bitcoin / 10k$ , and the price of bitcoin drops to 6$, the client can ‘run away’ with 8k$ in cash, and SALT platform ‘stays’ with one bitcoin worth 6.5k$. Am I right?
How’s SALT is going to survive in such a drop?

What i know is that if perosn gives 10,000$ worth of Bitcoin to Salt lending platform - Salt platform gives 80% of Bitcoin price and that is 8000$ and keeps 2000$ for amortization . If the price of Bitcoin drops and gets close to 8000$  client would  be warned about this and would be asked to put more money on platform to keep their bitcoin safe. In case client does nothing  - Salt sells the bitcoin.

[TheMuppet]

SALT is probably the best bet in crypto right now.

Easily 2X in the next 30 days (probably 3X).

Potential for 4-8X in the next 6 months.

Potential 20-50X in the next 2-3 years.