Our current system is debt-based. If you take out a loan/mortgage in dollars, the bank wasn't previously holding those dollars, they get created upon your agreement to repay. So "who in their right mind would hold the dollar" is already true today.
Under a Bitcoin standard, lending and borrowing will become less common, because it's tougher to pay off in a deflating currency. Higher risk of default means more stringent conditions for lending, which means fewer loans.
DataNostrum
npub1f2…xam7y
2024-06-18 11:13:01
in reply to nevent1q…8562
Author Public Key
npub1f2jdyfzqwuzzn7n5tdn5l2m7gmkjvlek5x46uml5arfxadjm0afq5xam7yPublished at
2024-06-18 11:13:01Event JSON
{
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"pubkey": "4aa4d22440770429fa745b674fab7e46ed267f36a1abae6ff4e8d26eb65b7f52",
"created_at": 1718709181,
"kind": 1,
"tags": [
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"wss://nostr-pub.wellorder.net",
"root"
],
[
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[
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"content": "Our current system is debt-based. If you take out a loan/mortgage in dollars, the bank wasn't previously holding those dollars, they get created upon your agreement to repay. So \"who in their right mind would hold the dollar\" is already true today.\n\nUnder a Bitcoin standard, lending and borrowing will become less common, because it's tougher to pay off in a deflating currency. Higher risk of default means more stringent conditions for lending, which means fewer loans.",
"sig": "9fba3fb6f69c38de6a886c845c78f9ab8254ee7a3b1e1aa6f35e793caa7fb2189dd746c08344a0ca191188569958c37d0e708d12da36c8574318bb3af160d9ab"
}