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265 sats \ 6 replies \ @DarthCoin 22 Nov \ parent \ on: Newmarket Capital Announces New Bitcoin Collateralized Loans bitcoin
loved to borrow at long terms to take advantage of fiat value deterioration.
What about if it was a moral thing to do it, knowing that with your OWN signature in the lending contract YOU were the one creating new more fiat money? Banks do not create those money until you sign the papers. And you are literally paying a loan for money that you created in the first place.
You are literally signing your own debt slavery.
https://www.ecb.europa.eu/ecb-and-you/explainers/tell-me-more/html/what_is_money.en.html
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42 sats \ 5 replies \ @siggy47 OP 22 Nov
I don't disagree from a moral standpoint now that bitcoin exists. Pre 2009 people had to survive under the system forced upon them. We disagree also on speculative fiat attacks. You may not think it's right, but there's something satisfying about further degrading fiat and hastening its death while growing your bitcoin stack at the same time.
FYI- I'm not talking about Saylor. I distrust him for many reasons.
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381 sats \ 4 replies \ @DarthCoin 22 Nov
People must understand that we will make Bitcoin stronger by using it every day as money and less fiat. NOT by inflating the fiat money supply to buy more BTC. By borrowing more fiat to buy more BTC you are just making BTC price higher. That means nothing in adoption terms.
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10 sats \ 0 replies \ @siggy47 OP 22 Nov
I understand your point, but I think it's more complicated than that. Value is being transferred from the fiat system to the bitcoin system. If these bitcoin capitalists just sit on their bitcoin, I agree, adoption is not being aided. However, I look at guys like Peter McCormack. Whatever you think of him, he is using his wealth to spread bitcoin in his town. He bought a football team, pays the players in bitcoin, bought a bitcoin only bar.
I remember hearing Obi Nwosu on a podcast, saying wealthy bitcoiners need to use their bitcoin to invest in bitcoin businesses and spend bitcoin.
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0 sats \ 2 replies \ @jk_14 22 Nov
what if you:
  1. take Bitcoin-backed loan
  2. change that money from loan for BTC for every daily payment that you can pay with Bitcoin
using BTC every day as money is satisfied, isn't it?
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21 sats \ 1 reply \ @DarthCoin 22 Nov
No, you still don't get it: you create those new money with your own fucking signature. You inflate the fiat money supply, you do not help in any way Bitcoin. why people are nowadays so fucking fiat maxis and have in their mind only fiat gains? WNGMI like that.
Which part of this is not clear for you?
maybe I am too visionary and this world is so fucked up that can't get away... people will remain over and over in the same deep shit
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0 sats \ 0 replies \ @mo 23 Nov
This info is not correct. Those signing the contract are the one creating the money...
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