#Bitcoin loans can only expand the 21m hard cap if businesses accept notes for goods and services instead of hard sats.
I don't see that happening long term. For this reason, I suspect the market for debt to shrink by at least 99%.
Discussion
I think rather than loans, we will see partial ownership become more common and businesses will be smaller and less speculative.
Nah man!
We need debt/credit to build Dyson Spheres and space elevators.
There will most likely be different kinds of scammers that have elaborated plans to create paper bitcoin (like exchanges now).
This will fail the test of time, eventually and inevitably failing hard.
Smart people and business will stick to hard sats.
Money warehouse certificates (aka the notes you're talking about) are already exceeding bitcoin proper in adoption. It's not far off to have deposit banking skyrocket as well.
Agreed... Debt becomes more expensive in an ever deflating environment, the opposite of the fiat system. This will deincentivize debt and make it less needed in general as capital accumulation is very possible through value creation. Also via lightning the velocity of money is basically infinite so credit is not needed for velocity's sake...