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65 sats \ 15 replies \ @DarthCoin 18 Dec \ parent \ on: Borrow against your Bitcoin bitcoin
Going back to fiat is not an excuse...
Going to borrow more money to pay your expense, it means you are not earning enough to cover them. That is total FIAT MINDSET, you will be always in debt, a debt slave.
How can people, in their right mind, spend more than they take in?
Credit cards are only good if you pay them off BEFORE interest payment is required. Otherwise you only dig a hole you cannot get out of, so, stop digging.
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This is how fiat twisted their mind, to borrow more to spend more.
The savings word is eliminated fr;m their mind.
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The people that save have either not been fully indoctrinated or come from a different country. I think that many Oriental countries have very high savings rate because they are by-and-large told that they have to fend for themselves in old age. They save like maniacs and watch their savings closely.
The question is; who put us in this mindframe.
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In 2021 I wrote these thoughts...
https://telegra.ph/LendingBorrowing-in-a-Bitcoin-world-07-05
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So what “smart guys” are doing now? EXACTLY what banksters did in the 17th century: offering to those gold owners, a place to deposit their valuable gold coins, into a bank vault, in exchange for a piece of paper, an IOU of x amount of gold. Now they are offering digital platforms for Bitcoin owners, to lend their BTC for a % of interest. But nobody ask: “from where is coming this %of BTC interest, if will not be created more BTC?”.
Yes, but you have to ask yourself who the smart guys are. To be able to avoid THEM you have to be able to identify THEM.
Better yet, don’t ever bother with THEM, don’t go into debt and don’t borrow their fake money and don’t give them the traction they get from people being asleep.
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don’t go into debt and don’t borrow their fake money and don’t give them the traction they get from people being asleep.
1000% WELL SAID!
I see very few people here on SN thinking right !
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Perhaps it is just lack of experience, don’t you think?
People are usually in the case of: “Caught me once, shame on you, caught me twice, shame on me!” I don’t hear about people being caught the third time, do you?
They whole trick here is to know that you’ve been caught, in the first place.
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I see quite some people around me, IRL, that are living like slaves, borrowing over and over just to pay more debt. And they never want to end the painful slow death they are living and always complain that they do not have enough money to live.
I am the one that always pays their beers in the bar (with sats).
My favorite reply to them is...
Some years ago (early years of Bitcoin) I told them that I go on paying all my debts and will accumulate as much sats as I can.
Now they are living paycheck to paycheck... I am living free of debt and just writing guides about Bitcoin.
no, it means your income is in BTC, silly.
Is the ultramaxi Darth really gonna go tell me to go get another (fiat) job?!
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No, spend only less of what you earn.
If you need to borrow more money to pay your expenses, it means you have a spending problem not an income problem...
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no it doesn't. Read what I said again
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import os
import subprocess
def run_command(command, check=True):
"""Run a shell command and print the output."""
try:
result = subprocess.run(command, shell=True, check=check, capture_output=True, text=True)
print(result.stdout)
if result.stderr:
print(result.stderr)
except subprocess.CalledProcessError as e:
print(f"Command failed: {e.cmd}\nError: {e.stderr}")
exit(1)
Directories for persistent data
BITCOIN_DATA = os.path.expanduser("/bitcoin")
ARMORY_DATA = os.path.expanduser("/.armory")
Create directories if they don't exist
os.makedirs(BITCOIN_DATA, exist_ok=True)
os.makedirs(ARMORY_DATA, exist_ok=True)
print(f"Directories created/verified:\n Bitcoin data: {BITCOIN_DATA}\n Armory data: {ARMORY_DATA}")
Set permissions for directories
run_command(f"sudo chown -R $(whoami):$(whoami) {BITCOIN_DATA} {ARMORY_DATA}")
Pull necessary Docker images
print("Pulling Bitcoin Core Docker image...")
run_command("docker pull kylemanna/bitcoind")
print("Pulling Armory Docker image...")
Replace 'your-armory-image' with the actual Docker image name if needed
run_command("docker pull your-armory-image")
Start the Bitcoin daemon
print("Starting Bitcoin daemon in Docker...")
run_command(f"docker run -v {BITCOIN_DATA}:/bitcoin/.bitcoin -d --name bitcoind kylemanna/bitcoind")
Verify Bitcoin daemon logs
print("Checking Bitcoin daemon logs...")
run_command("docker logs -f bitcoind", check=False)
Configure X11 for GUI forwarding (Linux systems only)
if os.name == "posix":
print("Setting up X11 forwarding for GUI...")
run_command("xhost +local:docker")
Run Armory
print("Starting Armory in Docker...")
run_command(
f"docker run -e DISPLAY=$DISPLAY -v /tmp/.X11-unix:/tmp/.X11-unix -v {BITCOIN_DATA}:/bitcoin/.bitcoin -v {ARMORY_DATA}:/root/.armory your-armory-image"
)
print("Bitcoin Armory setup and run complete.")
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