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Quantoshi.xyz · 1w
My biggest fear is that people will perpetuate the old system, as nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe would call it, by using Bitcoin as collateral…it’s hard to r...
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Taranis @Taranis
Bitcoin will be used as collateral for sure for the next while

Even capital gains tax is a reason to use it

In Ireland CGT is 33%

If I LTV it at 50%, I’m only at a risk of losing 17% had I had sold it instead 🤷‍♂️ and it’ll probably be set up in a way that I can get my btc back as I pay it back

In an ideal Bitcoin world I think collateralisation will be dead but for now, especially in Ireland, I see no major issue with it
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Quantoshi.xyz · 1w
I can’t decide if bitcoin backed loans perpetuate the old system or is a key phase of entering the new system or is completely orthogonal to system transition.
Quantoshi.xyz · 1w
Here is a good question to ponder: why has the “money” the world uses like USD been so successful despite proof of debasement? Is proof of debasability somehow a desirable property of “money” ...
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Taranis @Taranis
I think you’re getting at the heart of the issue of the controller vs the individual

Fiat has some advantages if the people using it are smarter than those who aren’t ~ sometimes being controlled by one is better for all

Ultimately I don’t really agree because one’s knowledge can only extend so much without coercion

Minarchy under a Bitcoin standard is as far as I’d take it

:)
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Quantoshi.xyz · 1w
My biggest fear is that people will perpetuate the old system, as nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe would call it, by using Bitcoin as collateral…it’s hard to reconcile what I think is an inherent conflict between perpetuating the paper money system by using b...