nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev a good friend finally conceded I was right about #bitcoin today (I felt nothing). He did however bring up a query about how credit would work on a #BTC standard. My response is fundamentally credit doesn’t work in a deflationary environment. After a few beers and crossed eyes, I still stand by this statement. But is there a possibility for credit on a Bitcoin standard in your view? I can’t see how it works?
All money is credit.
That’s the idea of a ledger that tracks unspent purchasing power in a system.
There will be those who trade their accrued purchasing power for a return, and there will always be those who need money now and are willing to pay it off.
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