Ernst Wittenschläger on Nostr: Thanks Jeff. Would be interesting to dive deeper into what "investing" would looking ...

Thanks Jeff. Would be interesting to dive deeper into what "investing" would looking like under a BTC standard (BTC as a MOE): How could bonds (issuing debt) be valued based on those holding BTC on layer-2 (would today's cost-of-debt, cost-of-capital, WACC equations apply?)? If there is no debt-issuance, how can debt be created - or should it? Would we forego debt all together and only have equity? In your example: Investing in Ego Death, Fediment, etc.: we're purchasing shares (ok, maybe convertible notes that turn into shares....but go with it..) with no guarantee, promise or backing of a return or yield (the investor owns 100% of the risk) Would we just cancel debt-instruments and only have 1. BTC as MOE & 2. Equity (shares)? Is it even possible (under a BTC-standard) to issue equity without debt? What does that look like? As you say, it's hard to see the system, when you're in the system....in this case, it's difficult to calculate how, exactly, capitalism (debt/equity issuance) will function under a BTC standard - would today's financial mathematics even apply in a future BTC world?