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1142 sats \ 18 replies \ @DarthCoin 22 Nov \ on: The Apex Predator of Collateral bitcoin
In other words the most stupid thing to do. aka you continue to support a fiat world.
People will NEVER learn the lessons from FTX, BlockFi, Nexo, Crypto etc all those scams promising high returns from loans backed with your BTC.
FFS why people do not want to understand that with YOUR own fucking signature you create the fiat money ?
How much time you still want to be a fiat debt slave?
People will NEVER learn the lessons from FTX, BlockFi, Nexo, Crypto etc all those scams promising high returns from loans backed with your BTC.
You are misunderstanding how the loan works. Its not "your" btc. You didn't put up anything....you are free to go get a traditional mortgage and pay it off.
If, however you are bullish on bitcoin AND need a loan for a house, this option allows you to get a house in far less time than it normally takes.
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Fiat money is just promises (loans) that are paid with more promises that are paid with more promises and so on. These promises never get redeemed, which means they create money every time a credit is issued, and therefore there is always inflation. They try to control this inflation by adjusting the amount of economy expansion with the interests charged on the promises, but the truth is that this has the incredible side effect to exponentially create higher and higher bubbles in cycles until the final one, which gets totally out of control, and destroys the country. It has happened all the time with smaller countries, and the only reason it is not happening so hard with bigger ones is because risk is reduced by transferring it from weaker to stronger fiat currencies. But eventually, the big wave will come to the big ones, and then there is not only those big countries which will get destroyed, but almost the whole of the global economy.
I believe this will happen between 2030 and 2045, and it will be the end of the fiat world as we know it, and of course, the emerge of Bitcoin as the global currency.
It is our task to educate people into this warning: never let them transform Bitcoin into a pseudo-fiat by allowing fractional reserve and promises over it, or Bitcoin will just end the same way fiat always ends.
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You put up your signature, your honor and your credit.
Are you lending your crypto or BTC out? There is that scam out there.
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Semi-correct but low self-esteem take:
- you put up your signature.
- banker conjures worthless money
- banker puts x% of worthless money into bitcoin
- when bitcoin goes up, banker cancels your loan and you keep house
High self-esteem take:
- Let dumb bankers pay off their own trash-money loan and keep free house.
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You are literally supporting a fiat system instead of crushing it.
You are not far from their evil.
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Yes, that is a heavy weight forever scam! There were no bitcoin about when this came up for me. I paid for my first house in cash-on-the-barrellhead, no mortgage. I got the bare experience of taxes without an escrow account. Twice a year I went to the tax office and gave them hell as long as I owned that home. Closing on it was a breeze.
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Please read again what I just posted, is from the fucking central bank, saying clearly how they create the money with your own signature for the loan.
STOP using these legacy financial systems. Stop using fiat.
You do not have enough money to buy a house with your sats? Fine, work harder, rent a cheap flat and stack more sats until you have enough.
Going to continue taking loans is continuing the fiat world.
Each time you take a loan YOU are the one creating those money ! So why in the hell you are still paying them back or even taking the loan?
FIAT DELENDA EST.
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FIAT DELENDA EST.
I'm loving it!! Down with banksters and their whole mob.
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I do not understand why so few bitcoiners really understand the importance of destroying all fiat rails, once and for all? They keep going over and over to the same fiat shit and cheering up that some bullshit bank is giving them a fiat loan with the money they created themselves and on top of that they are charged interest for their own money LOL.
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Not all of the bitcoiners get exposed to differing ideas of economics and common sense. They have been thoroughly brainwashed by THEM throughout their lives. Now the bitcoiners live and breathe fiat that has been enriched with BTC. Perhaps soon they will be breathing BTC contaminated with fiat.
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This is the right way to look at it. You are still a debt slave, still paying the loan and the interest on the loan, heavily, while they hold the collateral and the BTC. You shouldn't even be giving the bankers the sweat off of your balls
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Is right there written black and white, from the same central bank saying how the money are created: WITH YOUR FUCKING SIGNATURE FOR THE LOAN.
They do not even lying.
But people are still fucking blind...
LOL Bezmenov was right
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How many of us are:
A person who is demoralized is unable to assess true information.
This is what public education and news media do to people, without remorse! THEY are communists and the originators of communism. We have to shake off the demoralization through our own research into good resources.
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I am really tired of screaming out loud the truth and nobody seems to care...
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Console yourself that you are doing the best you can to save as many as possible. That is all you can do. You are the voice in the wilderness! Please keep screaming!
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