This one thought is on my mind for around a week now:

People borrows money from friends all the time and when it's time to repay the debt, they delay the payment as long as they can. But why people do that? What exactly is the profit of not paying your debt on time? Is it just a result of cheating mentality or there is something else deep under the surface?

It is kind of a cheater mentality for sure. But what leads to the development of this mentality is something else: it's fiat money!

I think this behaviour is a result of fiat money loosing value over time. Under a sound money standard, your money will gain it's value, so if you delay any payment it's your own loss. You have to pay more value later in the form of same amount of money. But if you have a money that is loosing it's value, that means the money itself is creating an incentive for the borrower not to pay on time. By doing this, the borrower is essentially paying less value by delaying the repayment.

This is why we need a lot of complex and different concepts like compound interest, credit score etc to just simply run a money lending business. And all these nonsense banking rules and regulations will collapse once a society switches into a sound money standard. Under sound money standard, people will try their best not to take loans, and even if they do, they will try not to delay the payment.

It's not just people having a cheater mentality or people being lazy. It's actually the fiat money that has impacted people's behaviour. Fiat money incentivises cheating. Bitcoin solves this.