What's the point of borrowing money by using money as a collateral to spend money?
The point of borrowing is to access capital you do not have. A lender is someone's who believes in your capacity to use this new capital to create more value over time.
Fiat borrowing by using Bitcoin as collateral is... Fiat as fuck. It has a place right now not because it is a better way to lend and borrow but because we live in a fiat world.
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agreed
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They're trying to change what It means to borrow in order to sell their new financial product. Financial product that is just a way to go long leverage on Bitcoin without saying it.
that aint how im gonna fuck with bitcoin
