0 sats \ 5 replies \ @legxxi 31 Jul 2023 \ on: reality for the young multicoiners: hold 20-30 years bitcoin
You have to be extremely hard working already today in order to stack a full one. Fiat times and inflation 🤡
Lol, a full Bitcoin isn't even much money 🤡.
Plenty of people from lower middle class can already afford. Maybe not the real lower class that's jumping from blue collar job to blue collar job. But the overwhelming majority of people in the first world could if they wanted to
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not exactly. anyone with balls and good credit can increase the limits on the credit cards and simultaneously take out personal loans as big as they can and ape the fuck out of bitcoin with all of it, and simply never pay anything to the banks or credit card companies.
Your credit will go to shit, but you can continue to work/earn money and use debit cards for fiat payments from that point on while you hold your new huge stack of bitcoin. Your credit cards would be maxed out so moving forward it's cash, debit, or bitcoin if accepted.
And it's not immoral or stealing because the credit is created out of thin air from YOUR promissory note (you are the true creditor), the system is deceitful scam that people don't understand at all.
Most plebs could multiply the size of their stacks if they had the balls to do this.
To top it off if they have the time to study how to write a conditional acceptance and send that to the banks and credit card companies and/or debt collectors they would be protected from any possible lawsuits that could arise from debt collectors.
Futhermore - what's more valuable: having a perfect credit score, which resets after 7 years anyway if you do this, or stacking multiple full bitcoins using that credit score by blowing up some credit cards and personal loans? You wouldn't be able to get any further/new loans afterwards, unless you can get the stuff off your credit report somehow, but who cares? You just stacked generational wealth. Rent for a few years if you can't get a mortgage until your credit resets. You shouldn't be buying real estate with bitcoin at these prices anyway.
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It’s immoral and stupid and you know that. That kind of mentality would not lead us to hyperbitcoinization.
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you simply don't understand how the banking system works. If you did, you would see that you are the creditor in the situation and you are the creator of "money" through your signature on a promissory note, which creates a negotiable instrument as per UCC 3-104. Such instruments are equivalent to federal reserve notes, which are also debt obligations/promissory notes/contracts, not money.
"If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry."
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