32 sats \ 2 replies \ @Signal312 OP 4 Oct \ parent \ on: The ethics of borrowing in fiat, in order to buy bitcoin bitcoin
Interesting point.
In the US, many people could potentially get a loan, and buy bitcoin with that money. But in a country with a far weaker currency, only the well-connected will be able to get that loan at a reasonable rate of interest.
Like in the example I gave in my post, with the author of the book The Hard Boiled Egg Index - Surviving Zimbabwe's Hyperinflation. He was able to borrow a huge sum of money at an easy interest rate, because he was a senior employee at a bank.
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34 sats \ 1 reply \ @stack_harder 4 Oct
yeah, in his case, he's doing something akin almost to insider trading. although I'm sure growing up with the poverty of Zimbabwe,m it will reshape a person's mind., survive at all costs.
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0 sats \ 0 replies \ @Signal312 OP 4 Oct
Actually if you read the book, everyone in Zimbabwe pretty much was desperately scrambling to get their Zim dollars into something else - anything else, at all. So I'm not sure that it could be described as insider trading.
So it's a tricky situation, ethically. And he definitely had his doubts about it.
I think I'll write up a post about the book. It's super interesting, especially to bitcoin/econ history nerds
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