I understand this view. Borrow fiat against your Bitcoin rather than spending Bitcoin.
I agree, the financial argument is compelling.
However, borrowed fiat has a cost. That cost is loss of liberty....
If the LTV ratio is 100%, then you're not really relinquishing control of anything that wouldn't have been spent anyways, no? In the long run I think bitcoin loans will trend toward these higher LTV ratios and thus make taking loans on your bitcoin a better option than it is today.
2