[2018-03-09] Cash and HODL? Family Office to Offer Loans Against Bitcoin

[shakaru]

Crypto rich but low on cash?

With all the ICOs that have taken place (not to mention the meteoric rise in the value of crypto assets late last year), there are a lot of entrepreneurs who fit this description, but few products that allow them to turn long-term HODLing into actionable capital.

That's the idea behind a new subsidiary being started by Dominion Capital, a family office based in New York City. While the company has long invested in a variety of assets, Dominion's known for helping to finance projects by backing loans.

https://www.coindesk.com/cash-hodl-family-office-offer-loans-bitcoin/

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[99btcwah]

We'll, if losing your mortgage and putting your family under tremendous hardship is your idea of fun, taking Dominion Capital's offer would be the ticket. You can fall back on the Government's social welfare if things don't pan out, so no worries at all.... or not.

Schemes like these are not really helping the General Public out in terms of leading them to a path of financial independence. Living under the burden of debt without being encumbered by these so called loans is already hard enough. I'd say people will be better off if options like these are not available to them. This is just a riskier version of a get rich quick scheme several times over.