A question from degenerate gambler

Alright, not too sure if this is the place to ask this question but, I’d figure this sub is a good place to start. So, as you all know, the price of bitcoin has dropped an immense amount, this price is at the point where a would purchase a lot of btc, only problem is, I just graduated college and only recently started making money. I look at btc options but they still seemed grossly over priced with btc at roughly 19k. My next thought was flash loans, the reason I’m in this sub is because I know flash loans can be categorized with defi, long story short, would anyone know how to utilize a flash loan except keep the money and pay interest on it? If this is not the correct sub for this question please let me know where I could ask this, and yes im aware this is really stupid.

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5 thoughts on “A question from degenerate gambler”

  1. Flash loans in crypto / defi are instant loans that you borrow and then return in the same transaction. They’re not long term positions.

    > I just graduated college and only recently started making money.

    I’d advise you to not try and catch a falling knife. This could be the bottom OR a cascading liquidation of a large fund like 3AC could cause BTC to fall even further. You’re gambling with money that you don’t even have.

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  2. Max out your credit card and go to the bank , see if you can get a personal loan , if you have a car think about selling it , also any clothes you don’t need .

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  3. flash loans are very technical and you have to know what you are doing. most people would prob not be able to help.

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  4. On Aave, you can borrow and pay off with your collateral. This is the exact same concept but removes the layer of flashloan logic. If you wanted to use a flashloan and not actually pay off the debt, your payment would need to come from somewhere and that would be your collateral

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  5. Considering your title is that you are a degenerate gambler asking for DEFI advice in this subreddit, I suggest you don’t mess around with flash loans.

    As others said, it is very technical & you need to know what you are doing. It is not easy to make money using flash loans & borrowing in DEFI, especially in this market.

    Save your money & if you are looking more towards DEFI, I recommend buying ETH instead of BTC as Ethereum is much more valuable in the DEFI space.

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