Nostr Web Client

I think in an hyperbitcoinized world there would be *zero* need for it. The only use it has right now is to leverage long a Bitcoin trade. This is why people want this financial tool. It's to spend without feeling like they are missing out on NGU.

I disagree with the last part.

This isn't what credit "should" have been. What credit should have been is not something that is bound to disappear.

Maybe I'm missing something, but i don't see why someone, in an hyperbitcoinized world, would put 1 Bitcoin as collateral to receive 0.5 Bitcoin.

jack mallers 3mo ago

I think you’re viewing credit through a fiat lens and assuming it’s for people without money?

In a Bitcoin world, credit isn’t about accessing capital you don’t have. It’s about unlocking liquidity from capital you do have, without selling it. Why would someone borrow against their bitcoin? To access capital without giving up their bitcoin. Unless I’m misunderstanding your point?

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Discussion

Leathermint 3mo ago

But if Bitcoin is money, why would I not want to spend it? Bitcoin is the liquid capital. You don't think Bitcoin would be the most liquid asset in a Bitcoin world? I think you understand my point but I don't understand why you think someone would seek something more liquid than Bitcoin.

I think you are the one seeing viewing credit through a fiat lense. Credit IS meant to access capital you don't have and this will always imply risks and trust.

I don't see the point of this service in a world where Bitcoin is the most liquid asset on Earth and has absolutely no other utility than to be spent because it's money.

jack mallers 3mo ago

i agree

Leathermint 3mo ago

Unexpected but 🤝