Replying to Avatar Collin

In booth's framework, if Bitcoin remains decentralized and secure, you likely wouldn't trade it for a golf course.

The most important function of a new base money in that scenario would be for proof of reserve. All you would have to do is allow a company to custody the bitcoin, and they would immediately have access to all of the collateral needed to open a new course. Provided this new course remains profitable, the Bitcoin need never be sold.

The exception would be if you wanted your own private or unprofitable golf course. In my humble opinion.
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Jor 2y ago

Very true.

Working through this in my head, there were many complexities involved.

But to keep it simple and structured for the audience, I didn’t get into the using bitcoin as collateral aspect of it.

You’re absolutely right. Never sell the bitcoin. Take out loans against it.

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Collin 2y ago

Everything has tradeoffs of course but I agree. They say don't take on counterparty risk, but I would add 'don't take on risk for less than its worth'.