Replying to Avatar Dr. Bitcoin, MD

Except you would though. This debt is risk free. That’s the point of this lesson: some debt is good. Some debt is great. Some debt is fatal. Not all debt is created equal.

If I would have borrowed $10,000 and bought bitcoin at 7¢, I’d be a billionaire. But I was damn near broke (and in fact was broke a year later)…every monumentally stupid move I’ve done with bitcoin has been related to a fear of debt and miscalculation of risk.
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Mark Camper 10mo ago 💬 1

Understanding debt is almost as consequential and unintuitive as understanding the compounding.

You really have to practice it on your own, with the skin in the game. Can't just read about it in school.

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Marks 10mo ago 💬 1

The key to this story is understanding the asset first. Anyone can borrow money and speculate on the flavor of the week. When you borrow to buy a hard asset, you aren’t in debt. The hard asset offsets the liability.

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Dr. Bitcoin, MD 10mo ago

Bingo