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63 sats \ 10 replies \ @DarthCoin 18 Apr 2023 \ parent \ on: Bitcoin Loan VS Bitcoin-backed Loans: Pros & Cons bitcoin
Why would I put my BTC as collateral to get shitcions?
I just save BTC until I have enough to buy what I need.
If I do not have it, so be it, I don't buy it.
Why would I put my BTC as collateral to get shitcions?
You could borrow BTC or gold if you want, the medium of exchange matters less than the unit of account for denominating the debt.
That's a nice austere lifestyle you live, I'm close to debt free as well. But being able to leverage assets to cover short term unexpected expenses without having to sell those assets, or to multiply wealth through smart investments without having to sell existing assets, are real benefits that lots of people use collateralized debt for.
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You'll put your bitcoin as collateral at 0%/12 month just to help others doing business or improve their life?
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No. No collateral.
Putting yourself in debt is not "improving your life", it is literally slavery.
Live with what you have, can produce and sell. This is life.
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Yes true, and I fully agree... what about no collateral? just direct lending of BTC for good?
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No.
I will never lend my BTC nor borrow from somebody else other money using my BTC as collateral.
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Just curious now. How do you see poverty ending in the future? Which tools, apart to financial education, you see useful to remove slavery and have a bitcoin circular economy?
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Free market. End of all governments. Use Bitcoin only as money
Done.
Bitcoin economy is an economy of hard working people not lazy communists living off govs subsidies.
You do not end poverty by putting those poor people into more debt... but by educating them in a free market.
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I truly believe the end of all governments will arrive when every human will have no more need and use their services.
How do you put those poor people to use Bitcoin then, if they cannot even access internet, nor have a way to access Bitcoin?
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So you truly believe that internet cannot exist without government?
šššššš
Do you really think that gov is doing something?
Everything is done by private companies...
Mark my words: without govs, there will be no poor people.