What is the 'Scalability' & 'Ease-of-Use' for Programmed Inflationary Digital Fiat? Scalability: 0.5s Instant Confirmation payments. Ease-of-Use: Lives on Digital eWallet with your BTC. At the expense of: dealing with inflation (loss of Purchase Power)
I agree. But I think without government loans wouldn’t be as artificially cheap as they are today. If Bitcoin succeeds, it essentially defunds the state.
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100%. Can't get any loans cheaper than printing free money out of the air.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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I’m also not sure if higher interest rates are neccessarily bad for the quality of life. It essentially comes down to time-preference; borrow now to pay off debts later, or work harder today, investing for the longer-term etc. Strongly recommend “The Bitcoin Standard” (Saifedean)
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Our Standard of Living is so far ahead of everyone else on Earth at any point in History that it's hard to put the Genie back in the bottle by getting off of the inflationary USD System. Want a car? Cheap loan. Want a House? Cheap Mortgage. Want that 'thing'? Cheap credit line.
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I lived in Argentina, Brazil, and South Africa over last summer, and SoL is nothing like it is here in the US. I drove around the Squatter Camps in Jo'burg- those 'Tin House' cities that you see in pictures that show 'Africa'. It's real life for some.pic.twitter.com/DZLTw1XyUY
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Since I believe most US Citizens follow the path of "borrow now and pay off debts later" I think shifting off of the inflationary USD, to a deflationary BTC economy, would 100% be a decrease in SoL. It would be a decrease Economically, Culturally, Socially, & Emotionally.
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It would hurt those used to easy credit but wouldn’t really affect the productive members of society. Yes, the initial ripping of the bandaid would hurt, but I believe in the long run it would be for the better. A more stoic, responsible, long-term oriented society.
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I think it would hurt many productive members of society (all small businesses). All small businesses require credit to keep their operations going, with some SMBs not getting paid until 90 days after delivery of goods. No cheap credit, no more small businesses.
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>A more stoic, responsible, long-term oriented society. I think it could happen. We currently have A LOT of social and cultural momentum going the exact opposite way right now.
End of conversation
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