I understand this view. Borrow fiat against your Bitcoin rather than spending Bitcoin.
I agree, the financial argument is compelling.
However, borrowed fiat has a cost. That cost is loss of liberty. If I hold and spend my Bitcoin, nobody has any say or control over my life.
If I posses borrowed fiat, the creditor, bank and government all have a degree of control in my life.
🔥🔥
The control you mention is probably less important if you cap it at a relatively low amount. Say 10-15%. That way you can always tell them to fuck off if you don't like the terms. Just my 22 sats. I'm generally in favor of cash flowing my lifestyle. Spend and replace where I can and save the extra in the coin.
Best take Ive heard.
Self sovereignty can be a loose definition. But if your not in control; what the fuck is the point.
If the LTV ratio is 100%, then you're not really relinquishing control of anything that wouldn't have been spent anyways, no? In the long run I think bitcoin loans will trend toward these higher LTV ratios and thus make taking loans on your bitcoin a better option than it is today.
1 penny of debt is all it takes to be enslaved.
That's a great sound bite. Do you also advise people not take a mortgage in order to become a home owner?
Yes. And yes, I'm serious.
To clarify that.
I’m not here to advise anybody anything. I can’t do that morally and I certainly can’t legally give financial advice.
But what I can explain is reality. Mortgage literally translates to “Death Charge” and is designed to be a hold over you for life.
Not everybody has the freedom to be free, but more and more people are choosing not to own homes or acquire debt.
It’s free choice, but make it with full knowledge.
If you’re a millennial travelling the world debt free, don’t look enviously at Boomers with huge houses and even larger mortgages stuck in the fiat system and unable to travel due to their debt.
The fiat system is a debt system so by taking on debt you are supporting the fiat system not replacing it.
Been trying to convey to my friends that a house isn't a good investment for nearly a decade. An exception if it is also a farm and can generate revenue to pay for itself.
Don't get me wrong, as someone who has retired at the age of 42 and have been debt free aside from a mortgage on my home, I abhor debt and understand that more than anyone. But everyone's financial situation is different and saying a penny of debt is equal to slavery is nothing but hyperbole.
Sure, living in a van and travelling the world is a great and free life style. But some people want families and a home and land for their children to grow up in. Who is more enslaved in that regard then, the renter or the home owner with a mortgage?
Everything is relative in the end.
The cost of a penny of debt is a contract that has the same legal enforcement as a debt of $1M.
That is the point I am making here.
If you actually borrow $1 from your mate, he is not going to take you to court to recover it, neither is a firm going to spend a lot of effort recovering a few hundred dollars of debt.
But they could if they choose and they could force you into bankruptcy if you are unable to pay.
couldn’t agree more.
people also need to be honest with themselves and ask “to what end?”
do you want sovereignty or are u content playing a fiat game as long as you don’t come in last?
Something something tradeoffs
True
You’re absolutely right—borrowing fiat against Bitcoin might make financial sense, but it comes with strings attached, and those strings are a direct attack on your sovereignty! When you hold and spend Bitcoin, you’re free—no bank, no government, no creditor can touch you. The moment you take on fiat debt, you’re back in their system, playing by their rules. Bitcoin is freedom money for a reason; it’s the only asset that lets you truly opt out.
