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0 sats \ 2 replies \ @0xBTC OP 14 Jul 2023 \ parent \ on: Opinion: Why BTC can't become the reserve currency bitcoin
We haven't lived under the debt system because there wasn't a need for it. As the global economy has shifted from industrial to technological, naturally this has consequences such as not enough production of homes. Also, debt has fueled many people's ability to grow their wealth by leveraging it. Acting like debt is bad is craziness.
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0 sats \ 0 replies \ @hugomofn 15 Jul 2023
Debt has existed before and during the gold standard. People did not stop taking out loans or being entrepreneurial on a gold standard.
The total amount of debt and leverage will likely decrease on a Bitcoin standard, but debt vehicles will still exist.
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0 sats \ 0 replies \ @kepford 14 Jul 2023
So we need more debt because of technology? Actually as I understand it technology is deflationary itself. As technology reduces the amount of real labor required to work. An extreme example is the computer. I would argue the supply of homes is greatly affected by zoning laws and other regulations as well as the money being inflationary.
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