A great step forward for Aussie crypto. Counterparty risk aside — crypto-backed credit still costs roughly double real estate loans (~9.5–11.5% vs ~5.9% p.a.) and offers only about half the LVR (40–50% on BTC/ETH vs 80%+ on property).
So for those who can, the dominant play remains the reverse: borrow against home equity to buy more BTC, rather than borrowing against (or selling) crypto to buy a home.
Would be huge to see this flip — and stop Aussies just selling homes to each other at ever-higher prices to cover stamp duty & govt fees.
@BobBurn97207272 Do we trust reported inflation rate though? Have your expenses realistically gone up by a few %? There is more theft of wealth happening here by under reporting actual cost of living expenses.
@SenatorRennick There’s some gaps in your Bitcoin knowledge still. Bitcoin is distributed / decentralised / rules-based - maybe start closing that knowledge gap before lecturing everyone about the tradfi debt instruments and crazy theories about foreign control.
@sbxr It should be done with zero-knowledge proofs (zkp’s) and allow blockchain tech to provide anonymity to provide trust less user access and restrict content appropriately. Not rocket science, and no government Trajan horses.
@elonmusk Cryptographic technology like Zero Knowledge Proofs enables external parties to audit age-restricted access for minors without compromising user anonymity. A perfect solution to a complex problem—and an engineering control against a potential political Trojan.