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Mainly developing my own tool box, longer term a source of equity for microloans.

How are we going to replace the mortgage system we have today for something better when people need to make something like a property purchase? (Micro loans are cool but what about the elephant in the room?) That Hal Finney quote about central bank digital currency backed by bitcoin means the next thing to do is look for opportunities to take loans from these entities or if you have a lot of bitcoin, set up your own bank. Give a man a gun, he can rob a bank. Give a man a bank, he can rob the world.

21 sats for your thoughts?

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ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

without inflation you can't have mortgages, and mortgages are the backbone of the fiat banking credit expansion, that's also why the saying "safe as houses" - because it's the banksters cash cow, so you fight inflation with property ownership - and tax benefits as well, like deferring any tax obligations until the property actually is sold

so the answer is - under a bitcoin standard there is not any such thing as a mortgage anymore, and the price of property will fall into line with the productive capacity of the land and its number of competing buyers and its other subjective properties

Dan Wedge 1y ago

I am no bitcoin lord, only a simple pleb. Long term Citadel 13 will have a handful of like mined individuals producing goods that are shipped into North America, with access to the Detroit River.

Short term, gotta empower those Ladies in the developing world build their empires and fuel their dreams.

As for mortgages, what wil happen is you will put up bitcoin as collateral. We will hold your bitcoin in a multisig kinda like a lighting . As long as you pay you minimum its all good. You don’t pay, cool. keep the house i just move your bitcoin and move on.