What terms are you willing to have the collateral be liquidated? Are you willing to have the BTC automatically liquidated in the event it's value falls below 10x% of the unpaid principal of the loan?
Would you be willing to have the loan proceeds and payments be made in BTC, but in terms in USD based on the bitfinex BTC/USD price (which is very similar to USDT)?
I'd be more open to the idea of being informed that collateral is failing that way I can send more to compensate.
Yeah btc amount pegged to usd is also fine
I guess my concern is that it is not uncommon for btc to fall at a rate so that even if you are watching it fall, you would not be able to reasonably send a transaction from your hot wallet before its value falls an additional 5-10% (it is not uncommon for the value of btc to fall ~5-10% within ~10 minutes at least once per 5 month period). It is also not uncommon for its value to fall a similar amount over ~10 hours, the time you would be expected to be away from your hot wallet at a time due to sleep, work, etc..
Once the value of btc falls below whatever level, there is no guarantee it will rise above said value in the (near) future.
Automatic liquidation is also a common term of similar loans available from brokerages that use securities as collateral.
