Do people ever plan on paying back their Bitcoin loans or are they just going to forever pay the monthly payments?
Why do this? I know the dollars will depreciate over time making the loan worth less.
Is it my ego for not wanting debt? Explain this Blindspot to me.
#asknostr
I needed a few minutes and realized now.
Bitcoin appreciates past the loan amount, then can pay off loan and have more BTC left over - well that's at least one option. it's also not a taxable event. hmm. Eureka
BTC back loans only make sense if you make good enough money to pay back the loan. Some loans, you don't even have monthly payments. You pay when you want.
It would make sense if you're gonna buy something that's gonna generate you money. And like that, you'll pay the loan back with that money.
the top 1% do this today with fiat
Also is how the rich stay rich and the rich don't pay taxes because they put all their money in the stock market and they start taking out loans and they start buying all the assets. Tax-free money.
I think like you... they are people who are all-in in ₿ but realize that they need dollars. The accounts went wrong... 🤷♂️😅
Maybe that mindset is a remnant of the dying fiat system and people need to learn that it's not neccessary any longer to lever and outperform and maximalize profits. If nobody can debase your property it's fine to be a humble individual again.
Wouldn't feel free to me owing someone.
The debt is the basis of the current monetary system we are grinding in.
Anyone without a debt, with a roof above their head and a steady income is already wealthier then most of people or companies.
"While debt plays a significant role in our monetary system, true wealth is more than just financial status. It's about well-being, community, and the ability to thrive in diverse ways. Let's celebrate all forms of prosperity! 🌱✨ #WealthRedefined"
#wallStreet will never understand this 😄
