Yes, in most cases people would be better off if they self insured through bitcoin. But sometimes people can’t do that and buying insurance is logical.
Discussion
Buying insurance is not logical at all imo agree to disagree
What u mean some people can’t do that?
Anyone can
It is often logical for those with little to no resources. For example, if one has young children but no resources, it is logical to buy life insurance until the time they can save enough to not devastate their children financially if they were to die.
Same thing with a house. If it burns down and you have no insurance, you still owe the mortgage. If you had not yet saved enough in bitcoin at the time of the fire, you are screwed, and that is why it is logical for many to buy home insurance.
But my point is that nobody will need mortgages either… because if the money isn’t broken and people can actually save up to buy a house…
And not to mention the cost of buying a house will go back down to its use case… which is for living in
I disagree with ur whole Point of view dog.
Right now I have assholes buying houses for investment purposes
Everything is fixing to change
We are talking about two different things. You are talking about a future with hard money and people save up for things with hard money.
I’m talking about the reality of most people today. Today people make logical choices to buy insurance and for them it is not a scam.
I said bitcoin fixes this.
Bitcoin fixes this
It is still a scam today.
But now we have a solution
Bitcoin fixes this
How soon idk
But it’s very much a scam
So thank god for bitcoin
We are still living in clown world
That’s changing in real time tho
Not to buy a house. To build one! There is a plenty of land. Everyone can build a house in a year even manually (upper bound). Why to subscribe to 30 year mortgage? Or to work more than a year to save money on a house. Just build it on your own, if it is too expensive to buy or to take mortgage
Nice take. I like that
Wait! If your house burns down, you are better off to have nothing to pay the mortgage and just go bankrupt, then pay the mortgage with saved money. When you not saved, you spent it somehow and they can't take that consumed pleasure away from you.
For example, you spent money on education or beautiful journey in tropical countries. Then come back and discover that the house burned down. Ok, you have no money to pay the mortgage, so you go bankrupt. You take away good emotions from the trip and your education.
Alternatively, you saved the money, then the house burned down and you pay the mortgage with the sawed money. You are worse off now. You could have received education and the trip, but instead gave the money to bank!