pull down to refresh
0 sats \ 10 replies \ @ama 7 Dec \ on: BTC fuck me up bitcoin_beginners
You could borrow fiat using your Bitcoin as collateral. You can even do so paying 0 anual interest via the Zero line of credit of the Sovryn protocol.
That way you can buy a property without selling your BTC. You can then pay the loan little by little or keep staking your fiat (assuming you have some fiat income) in BTC to finally pay the loan and close the line of credit.
You could borrow fiat using your Bitcoin as collateral.
Bullshit. That is perpetuating the creation of more fiat crap.
We want to destroy fiat not to sustain it.
reply
I beg to disagree with you here. It's just a contract between parties, one going long and the other going short. Decentralized stablecoins are the achilles heel of fiat as they put the printing power back to the people. Anyone can print dollars using a smart contract.
reply
Anyone can print dollars using a smart contract.
Gaslighting is the name of this game. The gas fees that you need to pay to keep this “Stablecoin” in your shipcoin wallet is greater than the Bitcoin fees that you will accumulate in your lifetime. There is nothing stable about that. Besides it is not synonymous to printing dollars as it is called and shall be known as TOKENIZATION of Old World assets and Fiat stupidity.
reply
What old world asset are you tokenizing when issuing bitcoin-backed stablecoins?
This is not tether, this is not backed by treasury bonds but bitcoin.
reply
issuing bitcoin-backed stablecoins
THE MOST IDIOTIC THING EVER
reply
It may be idiotic for the counterparty of the deal: the bearer of such "stablesinking" tokens ( just like it's idiotic to hold dollars) but the issuer is just doing the smart move of going long on bitcoin.
reply
Decentralized stablecoins are the achilles heel of fiat as they put the printing power back to the people. Anyone can print dollars using a smart contract.
reply
Zero line of credit of the Sovryn protocol.
I see the Rootstock “Bitcoin” as collateral. It is not really Bitcoin.