Compound interest enslaves people - pure and simple.
If you can't afford it...save the money, then buy it.
But DON'T take out a loan, and pay interest on it...
(And don't get me started on fractional banking--which relies on interest bearing notes)
Discussion
Fr. Maybe you just can't afford a cathedral and you need to get over it.
Or you need to build one out of wood, cuz it's way cheaper.
Or you just get a chapel, and that is also nice.
Live within your budget, instead of pulling income forward with interest. That is spending future income that may never exist.
In a hard-money, free market system, the money represents real resources (this is a good thing. we agree).
In order to loan someone money, you would have had to save it first, representing a a deferment on claiming the real resources (this is what savings is). The monetary supply is unchanged throughout this process. We're not getting anywhere near fractional banking, don't worry.
"If you can't afford it, save first" sure, this is a choice someone can make. And a fine one.
But so is "the timing matters to my enterprise and I suspect I can do even better if I start today with a loan. If I start _now_, my expected revenue will more than cover the interest payment".
Why are you so insistent that an individual shouldn't make that choice for himself and his business?
The only "Bitcoin loans" we've had so far were unbacked. They just sold the Bitcoin, traded altcoins, and then tried (and sometimes failed) to get back into Bitcoin when the loan came due.
One collapse after another.