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254 sats \ 5 replies \ @pillar 8 Dec 2023 \ on: What conventional wisdom does Bitcoin break? bitcoin
That taking debt is a bad financial decision.
In the fiat game, the right kind of debt, for the right purpose, is key to success financially.
Credit Card debt is horrible, whereas a home loan is great.
Debt is a tool, it can be used to waste money or to acquire assets.
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I remember reading about Apple issuing massive amounts of debt to fund dividends and buybacks when it was sitting on a huge pile of cash and thinking how stupid and irresponsible this was. It went against what I'd been raised to believe – that debt is bad.
That was before I understood the ramifications of the fed "targeting" 2% inflation – the joke's on me.
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Maybe I am not reading right, but is debt not the baseline function of how fiat works? I would say taking on debt has been deadly for nations, no? Idk if bitcoin is going to make "good debt" more popular, the opposite actually afaict
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It is, indeed.
And yes, it has for many. Because they didn't take debt for the right purpose.
You might enjoy reading about currency speculative attacks, or my Operation Saylor series here in SN, to better understand where I'm getting at.
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Ah yes Ive seen them, really enjoy them!!
i believe i get what you're saying now with that context. I know that debt can work in your favor if used right. If you want to bet against the dollar then debt is by all means a good way to do that, as you've done in the series or as Saylor did, but I suppose I am wondering how the concept of debt and its relevance in general will look X years into hyperbitcoinization..
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