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Yes, but what happens when they default? Who pays remainder? Insurers, backed by taxpayers? Do lenders just co-finance defaults from other loans? But then imagine how tempting it would be to default on such onerous loans, and how expensive the other loans would be. Wouldn't that eventually squeeze the profitability out of almost all lending?

Like, you'd have to find some place that increases by 30%+ in size every year and has a veritable monopoly that they can sustain for years. How do they sustain the monopoly, when they can make Bitcoin that easily?

And you can't tell who they are, at the beginning. VCs usually throw money at a bunch of different projects and see what turns up. But how long could you throw Bitcoin around? Are we just assuming that they never run out of money?

Maybe I am just too stupid to understand how this is supposed to work. 🤷‍♀️

I had assumed Bitcoin would make such things unprofitable and we would end debt servitude. But it's like, we will just have bigger, more onerous debts, in the hardest currency possible, while prices are falling.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

a debt that has been agreed to is not onerous by definition

the usual procedure is a negotiation of a settlement that cancels the debt, usually involving liquidation of assets and a tax out of your income, that usually won't fully satisfy the loan but it is all that is reasonable

bondage through debt is not permissible, though in Islam it is permissible for an enemy to serve you as a slave as compensation for their aggression previously for some period of time rather than be killed

and yes, the size of the finance industry has to shrink under a hard money system, because it is very high risk

defaulting on a debt you signed up for is a sin though, that's why it does have to be properly amended

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Laeserin 1y ago

Most highly-profitable monopolies are sustained through government intervention, so a reliance on interest-bearing debt might lead to a class of wealthy lenders that lobbied/bribed the state for more intervention, to help sustain their business model of making money off of money.

They could, after all, simply offer to lend money to the state.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

who then has to rob the people to pay the debts

which is exactly why the system is as it is now, to serve those usurious money lenders, who benefit from raising the time preference of the population as high as possible, which eventually gets to the sodom and gomorrah level

Laeserin 1y ago

Which is why I don't want to just recreate this situation, or just sit quietly by while people come up with business plans for raping civilization AGAIN. 😕

The least I can do is get up in public and say

DO NOT TRUST THE MONEY LENDERS! MONEY LENDERS IS ASSHOE!

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

yep, just like the christians did all of the last 2000 years lol

this is one of the things that bugs me about most christians these days, they don't have the whip the money lenders thing properly in their mind, it is pure evil

that was literally a conspiracy between the money lenders and the priests btw, to make this statute to require this particular coin, and the money lenders cornered the market and charged a premium, and the priests didn't change the rule because they were getting part of that premium so they could live high on the hog

the exact nature of what jesus was all about was the collusion of finance and government, and it should be the most primary goal of all christians to fight against that everywhere, these days christians are almost more wishy washy and complacent than even these fucking atheists, turn the other cheek? lol, how about whip the fucking money lenders in the temple!!!!

Laeserin 1y ago

People keep telling me that Christianity is about praying and not about economics and it be like,

Bible much?

Niel Liesmons 1y ago

The first rule of Christ Club is you don't get to tell others what Christ Club is about

Laeserin 1y ago

😅

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

pretty sure it's the other way around but nobody has to agree with you either

Laeserin 1y ago

He was just joking.

Christians don't really talk about what the Bible mostly talks about because it's not en vogue and sounds archaic, and then everyone is like OMG, they're talking about coveting the oxen, again! These people are so out of touch! 🤦‍♀️

Preach about chastity all day, but NEVER EVER talk about not lending out money for consumption or the benefits of accurate measures and debt jubilees, or the importance of donating to charity and helping your neighbors because that is LITERAL COMMUNISM OMG.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

we are all stuck in a borderless city of Sodom, these people don't even realise

Laeserin 1y ago

Actual communists want there to be a state that determines what is morally right, in the economic realm, and forces everyone to do that.

Actual anarchists want there to be no state, but also don't want some chick on the internet to discuss the morality of usurious or nearly-usurious practices because that puts emotional/social pressure on them to not be a gigantic asshole.

Neither side wants to hear about the Bible. 🤣

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

anarchists who are atheists are just libertines and just want to have their jollies and then die, none of this horrible learning and pain stuff pls

Laeserin 1y ago

They don't just want to be libertines. They want to get cheered on by everyone else.

Everyone wants praise, nowadays, and flips out when someone says,

vinney...axkl 1y ago

The value of praise is entirely dependent upon the source.

vinney...axkl 1y ago

You think there isn't learning and pain on the path that atheists walk? When you don't have a magic book and magic friend to turn to, your entire life is first-hand discovery, exploration, trial and error, learning, meditating, seeking truth, re-seeking truth.

Marcus Aurelius may have been questionably spiritual, but he's close enough to an atheist to make the point better than I could.

To brashly and stupidly equate atheism solely with hedonism is pretty sophomoric and tired at this point in human history man.

Laeserin 1y ago

Like, think through this logic.

Anarchistic atheist: I don't believe in religion. Religious morality is just made up hocus-pocus.

Me: Okay, I believe in it.

AA: That's because you are functionally retarded or brainwashed.

Me: Okay, fine. I think what you're doing with your business is probably immoral, according to my religion.

AA: I feel unsafe. The religious people are after me!

Me: I only said one sentence 🤷‍♀️ , and you just said you didn't believe in divine or spiritual punishment or morality, anyway.

AA: Yes, but you said that you did and other people do and they might listen to you and then they will also think I'm doing something immoral and they will like me less and maybe avoid doing business with me.

Me: Cry harder.

AA: OMG LITERAL COMMUNISM.

😅

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

literally the way these libertine anarchist materialist/nihilists think

they know they are doing bad things in their heart, at minimum turning a blind eye, and more often, profiting a little, and then they freak out at you for pointing it out, like, hold on, i thought you said this wasn't wrong?

Laeserin 1y ago

It's their conscience. They are at war with their inner angel and we're like, We're wit da angel on dis one, bro.

vinney...axkl 1y ago

I guess we're even now on "that person said they think I'm functionally retarded or morally corrupt due to my belief system".

🇵🇸 whoever loves Digit 1y ago

I'm exceptions to most of these

Laeserin 1y ago

And I am not like other girls. 🤝

Niel Liesmons 1y ago

Nostr can actually make the other way around not such a freakin cringe experience.

Reading the actual bible with high signal commentary from perspectives that clash.

Instead of getting welcomed by a bunch of close minded InFlUeNcOrs telling me what the "Real" Christ Club is all about.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

iron sharpens iron

our society has been deliberately coddled and sheltered from harsh reality and force fed this atheistic materialist ideology underpinning the babylon system and such discussions inevitably get kicked off the silos where the crocodile tears rule the day

here you just gotta roll with the punches, that's why the "Christ Club" thing makes me smile 😁

Laeserin 1y ago

I am loving your new PfP. 😅

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

he's such a cutey

Laeserin 1y ago

Christ Club is about being nice and everyone liking you and lambs and rainbows and cherubs and Jesus is my boyfriend and don't be judgmental about things, just go with the flow and save the planet.

Now, you're all caught up on the Real Christ Club. No problem. Anytime.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

in actual fact, half of the bible is about economics!