Living in a space is also a utility. We would absolutely see a sharp decline in the amount of debt, and the use of property as investment would decline.
To say we will be rid of debt entirely ignores the human desire to live beyond their means and to desire that which they do not have.
The responsible ones will live debt free, those without restraint and self control will continue to be indebted.
Agreed! 🙏 we think bitcoin is reaching some of us to self control
I think we are forgetting that debt/credit is a 2 way street. As a lender, lending must be both profitable and preferably low risk. The more sound the thing I am lending, the less inclined I will be to risk it on a high risk endeavour. Houses that decline in value over time will be high risk vs the Bitcoin being risked against them.
Lending and credit in a fiat system is much more practical because the ‘money’ you are lending out/borrowing is trash and houses appreciate compared to trash but not compared to sound money (BTC).
It is a challenging paradigm shift.
The wont of man is truly unquenchable and it cannot be swayed by logic. A fool and his money will soon be parted and even the hardest money in the world doesn't change that.
I think we call that the economy, a crazy mix of exact and non exact science, value exists when it has context, there is no such thing as intrinsic value.
I would say a space to occupy has intrinsic value. You can't exist without a space to exist in. The number associated to that value isn't static but it's never zero.
The space you occupy has intrinsic value simply because it allows you to be. Without action, its value might seem neutral, but restriction highlights its worth. Similarly, water in a glass is inherently neutral—its value explodes in the desert but fades by a river. Context transforms neutral existence into profound significance. Value is context-born, not inherent.
I typed out a really long reply but then took a step back and it was more of an argument on the usage of the words and it was boring and not really furthering thought so I'll save you the time, lol.
Fun conversation though!
🙏 thoughtful disagreements are fun thanks to you for making us think deeply 😉☝️
