Tl;dr
Fellow Bitcoiners,
After nostr:nprofile1qqs2xs05tluhtr6hpgsmqqxp04898gayjlyrjlexcrndv8j6el784xqpr9mhxue69uhhyetvv9ujumn0wdmksetjv5hxxmmd9ugxrggw recent appearance on nostr:nprofile1qqsyx708d0a8d2qt3ku75avjz8vshvlx0v3q97ygpnz0tllzqegxrtgpzpmhxue69uhkummnw3ezumt0d5hsvge3uc podcast, I'd love to see content openly and constructively debating how credit, even if decentralized and peer-to-peer, won't work and isn't a good idea in a hyperbitcoinized world. Leave the higher morale, the ridiculing memes aside and let's constructively onboard more people with uplifting and convincing ideas. Because that question pops up a lot.
I may not like it, but Michael Saylor has a realistic vision for a fiat world based on Bitcoin, one that most of his fellow entrepreneurs will appreciate. What's the vision of a "true, full potential, decentralized, deflationary" Bitcoin world? Can you share some good material? nostr:nprofile1qqsd3086elxcwhgevfgmp60u66fjl9swytj960nvcjxgnzgh42tkgkcppemhxue69uhkummn9ekx7mp07f6lda nostr:nprofile1qqsxu35yyt0mwjjh8pcz4zprhxegz69t4wr9t74vk6zne58wzh0waycpz9mhxue69uhkummnw3ezuamfdejj7qg4waehxw309ahx7um5wghx77r5wghxgetk9uq3samnwvaz7tmxd9k8getj9ehx7um5wgh8w6twv5hsj7hdd2
I appreciate the vision of nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpp4mhxue69uhkummn9ekx7mqpp3mhxue69uhkyunz9e5k7qgkwaehxw309ahx7um5wghx7mnnv968xtn0wfnsurtqc6 a lot. Very different, but also Edan Yago has interesting thoughts.
Let's make it as imaginable as possible 🙏
Merci!
Example:
In a world denominating everything in Bitcoin. I am 24 years old and like to start with a great business idea, buy land and renovate a house. Where will I get the money from if I don't have it right now? But I am highly confident that with my youth and vigor I will produce value for society with my business. I can't? I have to work 10 years as an employee before, to be able to generate the capital myself before starting a business?
Alright, say somebody is willing to lend me 1 BTC for my business (peer-to-peer, self custodial, on an open decentralized protocol). The lender doesn't even take interest, but just wants the 1 BTC back over 10 years. With the appreciating value of Bitcoin vis-à-vis all goods and service - say still 10% per year - repaying is tricky enough. So, one may argue providing credit will become very unattractive. Still, the need for urgent economic activity will remain for people. How does a purely Bitcoinized world address these needs? Or in a world of abundance these needs won't be prevalent anymore?
I'm really open and think it's fun to go through these scenarios. All will happen for the best 🙏
Start small and grow by reinvesting profits from cashflow works for most business ideas.
It's unpopular because its "get rich slow" compared to borrowing big from a bank and gambling on paying it back faster than the interest mounts.
But it'll work as well in 2050 as it did in 1850.
Yeah, good thinking! Sounds healthy to me 🌿
And if I think about it, all the big old companies, say the Fuggers or early industrial revolution oil businesses started off with a simple craft, say making shoes, soap or matches, before they embarked on bigger projects with their early capital. This was a generational thing, so time preference is muuuuch lower. It's gotta be clear that only your grandchildren might be able to do 'bigger' things with the fruits of your labor. And perhaps fewer people will even want 'bigger' in an abundant world.
We'll recalibrate our brains. Bitcoin and consciousness (r)evolution go hand in hand 🙏
