$TIME to be your own bank (part 3 – NEW STRATEGIES) 🤑



In this third part of the $TIME to be your own bank series, we review some topics that we already covered in the previous two videos of the series to clarify some …


About John 18743 Articles
Bink LLC: bitcoins.inc bitcoinwallet.inc 5g.inc 5g.llc binkhost.com

50 Comments

  1. Maybe i've missed it in on of your three vids explaining so much but was wondering… If lets say.. I wrap my memo… borrow 400 MIM (Safe).. use that MIM to buy more TIME, wrap it.. borrow again.. repeat process un-till i have enough to buy myself something in the real world.. sell for USDT and off ramp to bank.. Would I ever have to pay that loan off?

    What happens when I've borrowed a heap of MIM with my wmemo as collateral but then a year later I decide to sell my wmemo for whatever… what happens to the loan?

    This MIM stuff sounds incredible.. trying to get an idea before I make a bad mistake.

    Thanks for ur videos

  2. I think you've been quite clear about not needing to pay the debt back and I'm loving these videos, but I'm wondering about the inverse of what was discussed.

    If I deposit 1 btc in to a vault with a 50% ceiling on the debt ratio (just an example) and start borrowing, all is well. Let's say btc hits a million in a few years, and, in that time frame, I've borrowed 500k MAI; I can't borrow any more. Haven't I painted myself into a corner with the borrowing? I don't have the funds to pay back the 500k I've borrowed over the years and I also can't capitalize on the remaining equity behind the other half of that btc.

    In the aave section you were able to withdraw some collateral to pay back the loan after the loop; is that an option with many vaults?

  3. I have been loving this series! Thank you! Do you have an easy way to keep track of all of your "moving around of funds?". I have put into play two different "be your own bank" scenarios but don't want to lose track of where everything is. Thanks so much!!

  4. Thanks for the clarity. So you don't pay back the loan unless you want to get your collateral back. If you buy a house with it. But you need those 250K to have access to your bitcoin should you want to take it out of the vault to sell it.

  5. just found this channel, love the moniker, and the information you're passing on is done in a way that even I can get to grips with what normally is a confusing sector! thank you! please keep up the good work 🙂

  6. Quick question.. so I know this is a long term deal but what if I need to have this chain of assets (really only one asset starting off with ends up being multiple tokens) to have liquid? How much trouble is that going to be to reverse this whole process? I've never used either of those protocols. Aave or mifinance. Plus I got to the end and wanted to borrow Mai token and there was any left to borrow. Lol. Guess I'll wait. I'm new investor. Thanks for the videos sir I've gotten into wonderland and klima from watching your shows.

  7. Thanks man again for the nice explanation and strategy sharing. One question though… I tried to repeat, but my AAVE is showing 0 deposited after I staked @ MAI.
    So how can I be sure that I still get the APR from Aave ? Or is this than included the MAI APY ?

  8. If you don't pay back your debt you don't get your colleteral back. And if you cash out your tokens you basically make it even harder. And with the microscopic APY all it takes is 1 hack or price spike and it's gone.

  9. Thank you for these videos! You are amazing! I am new to wonderland, I have a question! When I stake TIME I get MEMOs, what happens if i Wrap those memos into wMemos that are in my metamask wallet? Do they get unstaked from Wonderland and wrapped into wMemos? (I hope this makes sense) Thank you!

  10. Another brilliant video as always.

    One quick question: if I were to borrow MIM with $wMemo as collateral, would using $MIM to purchase fiat (USD) and transferring that fiat to my bank account be classed as income for tax purposes? Not saying this is a good idea, just curious to understand if one were to do it like this.

    Thanks again!

  11. Hello Sir, I just wanted to thank you for all of the valuable content you’re producing, it’s very informative and you make it easy to understand. Also thank you for taking the time to reply to comments. I’m glad I came across your channel. Thank you Sir.

  12. I have learned a great deal from you in the past few days, absolutely mind blowing, I appreciate your time and effort educating us all, thank you. I think I'm missing something with these loan examples especially the last one. If there is £1m BTC and £200k is borrowed, the loan would have to be paid off to access the remaining £800k? If so, would one have to find the £200k or could you pay it back with the remaining £800k + interest (hopefully with the interest)? I'm guessing the later but, I thought I'd ask the expert. Again thank you for your time.

  13. thanks for your content mate, im learning a lot! What do you think about coin:DFI? Releasing global stocks to the blockchain through liquidity pairs I think, you get a decent % staking the DFI regularly and, as speculated, maybe 1000% on stock liquidity pairs as in tsla/dfi microsoft/dfi etc

  14. Again a great video, I love your content 🙂
    There is something i don't understand regarding your comment on borrowing risk, and liquidation at 44:26. If i borrow Matic against the same token, and i re-deposit it immediatly as collateral, i thought there would be no volatility risk : if i understand correctly my debt is expressed in Matic, so even if the Matic price drops 99% in USD value, i wouldn't face liquidation because my collateral amount in Matic didn't change (i still have 15 Matic as collateral regardless of the USD price of the token).
    So I thought the risk was entirely dependent on the APYs : if the deposit APY drops and the borrow APY increases, i might get above the 65% LTV and get liquidated. Or if i don't claim the Matic rewards and don't increase my collateral, i could also slowly get above 65% LTV because of the borrow interests.
    Is there something i misunderstood ? Why do you consider it risky to borrow the maximum amount ? (7.5 Matic in your example ?)

  15. Man this is another level and really hard for me to understand. One question though. Could you do a video on how to track big wallets and what are they doing right now in defi and farming? I hear there are big corporations using advanced strategies like when it is time to enter a farm and when it is time to exit that farm to make the best out of it. Then they go to another farm and everything. I think its better to follow them and there work

Leave a Reply