utxo the webmaster 🧑‍💻 on nostr

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utxo the webmaster 🧑‍💻

@utxo the webmaster 🧑‍💻 1762529111

i really don't recommend borrowing against your bitcoin and paying interest

just spend/sell coins as needed

yes i understand the numbers but consider the human psychology element of it, and the track record of fiat system which you put your coins in to get these margin loans.

debt is slavery and debt based systems got us into this mess to begin with

317❤️30💯6🤙3❤️2🔥2🏛️1

Right. I’ve realized this too. Trade p2p and use RoboSats

Agreed. This is why I’ve move away from nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 they are playing fiat games

bncsound · 29w

If weren’t for giving up custody, borrowing against BTC in cases where you *could* pay in full makes clear financial sense. 1. If your ability to service the debt were to falter, you’d just pay off the loan. 2. If the interest on the loan is less than the rate of monetization of BTC, you’re g...

Jose Sammut · 29w

What if there's a business interest? Worst case you get liquidated and you don't have to pay back the loan. Just the same as if you sold. I understand what you mean, I don't think it's wise to use future roi to cope on overconsumption.

While I'd probably never engage in this behavior, I support is wholeheartedly. Getting a Fiat loan with BTC collateral means that Fiat inflation (money supply) has increased. This promotes BTC's price, which pays off the loan. The more people do this, the more Fiat is degraded and BTC is pumped... ...

First there is no borrowing involved, as one is giving away something of a higher value, second of you do that you are paying interest on your own stash, third you are often paying higher interest than just getting a bank credit. Yes don't do that it is stupid and people are being played.

Milan Ljepoja · 29w

Dept is not good, always spend money from the past, not from the future.

The_Crin · 29w

borrow sats, only for the value of bitcoin to rise overnight, causing the debt to grow exponentially? no thanks

Sourcenode · 29w

While I agree in principle about not participating in fiat games I have realized two things about this that changed my mind. 1. If my loan is fully backed I'm never in debt. I can be liquidated, which is the worst case scenario, but I keep the capital from the loan and don't owe anything if that h...

I borrowed against some of my stack for a venture at 50k. Had I sold instead of borrowing cash against my 2.5x over collateralized multi sig fiat loan I would have way less bitcoin right now. I was able to do something productive, write off interest payments on my taxes, and keep my stack in tact....

Junghwan · 29w

exactly. Save in Bitcoin self-custody and use it when necessary

This is true the mental freedom trade off of having no debt

Michael ⚡️S⚡️ · 29w

The only way to short fiat.

I'm kinda with you on borrowing against bitcoin specifically. However, I feel like a sucker for all the years I worked and saved in USD without any debt. There was a game going on and I didn't see it.