Replying to Avatar mike

I think the more important point I've been trying to convey with these hypothetical examples is to point out the reasons why we don't want a debt based society and why we don't want Bitcoin lending solutions.

Debt is a modern phenomenon and at its core it is borrowing wealth from the future which limits options in that future.

That's a very binary view, and the world is not binary. But Bitcoin was supposed to replace the financial system, not support it.
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Bennu Breath ð“…£ 7mo ago

Yeah, as someone who personally never took institutionalized credit, I really resonate with your viewpoint. Debt as an instrument goes way back in history. But that the entire economic and societal development is based on it, is indeed a modern phenomenon. And it's a reality we are faced with right now.

That's the point where nostr:nprofile1qyt8wumn8ghj7ct5d3shxtnwdaehgu3wd3skueqpz4mhxue69uhk2er9dchxummnw3ezumrpdejqqgzr08nkh7nk4q9cmw02wkfprkgtk0n8kgszlzyqe384ll3qv5rp453f6g5h and Saylor clashed on their last podcast.

My point here would be that once the world operates on a Bitcoin standard, excessive lending and borrowing is just not attractive any longer. We don't have to morally condemn it until then, it just naturally fades.

But we can help Bitcoin thrive in the meantime and make sure it keeps its core freedom providing functionalities. Currently, it's on track to being cornered as a stale asset, loosing its peer-to-peer cash ability. I'm not saying Bitcoin isn't in itself powerful enough to one day burst free. But the more versatile it becomes (e.g. with finance in a hybrid fiat stage) while keeping its freedom functionalities (!) the earlier hyperbitcoinization may become a reality.

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mike 7mo ago

No question, Bitcoin the asset has made significantly more progress than Bitcoin the money.

But Bitcoin money is advancing at ever greater pace. Steak n' Shake being a very public example, but also a more ground up movement is happening.

As Bitcoin becomes more widely accepted and understood by the public, it will, I believe gain greater and greater traction as money.

We are still. VERY early.