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@mike 1748946053

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 I hold and spend my Bitcoin, nobody has any say or control over my life.

If I posses borrowed fiat, the creditor, bank and government all have a degree of control in my life.

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Matt 🛸 · 37w

The control you mention is probably less important if you cap it at a relatively low amount. Say 10-15%. That way you can always tell them to fuck off if you don't like the terms. Just my 22 sats. I'm generally in favor of cash flowing my lifestyle. Spend and replace where I can and save the extra i...

Sleventy3 · 37w

Best take Ive heard. Self sovereignty can be a loose definition. But if your not in control; what the fuck is the point.

Tyler Burns · 37w

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.

couldn’t agree more. people also need to be honest with themselves and ask “to what end?” do you want sovereignty or are u content playing a fiat game as long as you don’t come in last?

⚡₿it₿y₿it⚡ · 37w

Something something tradeoffs

Martin Mladenov · 37w

You’re absolutely right—borrowing fiat against Bitcoin might make financial sense, but it comes with strings attached, and those strings are a direct attack on your sovereignty! When you hold and spend Bitcoin, you’re free—no bank, no government, no creditor can touch you. The moment you tak...