Quote from: sell100 on November 06, 2018, 02:49:14 AM

FIRST BITCOIN-BACKED LOAN ISSUED IN CANADA

The first Bitcoin-backed loan has been issued to a Canadian company allowing cryptocurrency holders to liquify their assets without selling. Bitcoin Loan

Read more:
https://www.trackcoinmarket.com/crypto-news/37762/bitcoin-backed-loan-issued-canada

I think this is good news. If bitcoin can be loaned, it means that people trust in its long-term value. It's nice that people can make sure they loan btc safely, scam-free and Canada. Let's hope more countries will follow. I can see many platforms offering bitcoin loans online, but I believe that this company is the only one that's making everything 100% legit.

Quote from: BitHodler on November 07, 2018, 09:32:17 PM

Quote from: kingcolex on November 07, 2018, 02:57:30 PM

It does make a nice scenario, throw btc into stable coin, get loan, get stable coin back, convert back to Bitcoin. No tax.

Sounds too good to be true actually. I'm not even sure how that works right now if you cash out Bitcoin to USDC (Coinbase's stablecoin) for example. If it is supposed to be a proxy to fiat, which it is, it would make sense that you are taxed similarly.

Yeah, while money per se is not taxed, operation with income-related things are. I am pretty sure that the company is not loaning money for non-commercial purposes, so some sort of taxation is probably applicable.