He Bought a $25,000 Boat For Free: Alchemix Self Paying Loans

He Bought a $25,000 Boat For Free: Alchemix Self Paying Loans

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  1. So I actually watched the video and wow, i’d really love to see someone more knowledgeable than me explain where the hole in this boat is because it seemed deceptively brilliant, what’s the catch here?
    You essentially provide yourself with a small loan from your own larger pot of money. You don’t have to worry about being on the hook for a loan because you’ve already covered it. Why not buy outright from the initial large pot? because if you just spent the money, it’s gone, but if you popped it into alchemix then it’s still sitting there ready for A) you to pull out the remainder – the debt whenever you want or B) it eventually pays itself off and you just get the whole thing back. Worst case(?) If you immediately change your mind and pull it back out sans interest time, you’ve still lost nothing except gas/trans fees? Best case you eventually get your whole collateral back and get a ‘free’ boat? (Well the interest your coins earned paid for it, except you didn’t have to wait x years saving up).
    Nuts, not much use to me right now but great video, fascinating idea, thanks for sharing OP!

  2. 😂 no, just no. I watched 30 seconds of the video and stopped at the part where he says “you can take out a loan that you never have to pay back, because it pays itself back.”

    Calling for mod to delete this scam please

  3. That’s not self paying, that’s just staking with extra steps…

    That’s assuming the price of alusd doesn’t change at all and the Apy rate is always whatever it is.

  4. Alchemix is a really interesting product. No idea on LT viability and I haven’t put any assets with them but I’ve been watching them closely. If they haven’t blown up in 6 mos I’ll be a lot more comfortable with the idea. It’s definitely worth looking into, just tbd on whether I’m comfortable investing.

    This doesn’t look like a scam to me but it could certainly get to a point where some liquidity issue and yields drop significantly so the loan doesn’t pay itself off.



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