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.

  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 .

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

  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

  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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