Many bitcoiners are also cash poor. People do the best they know.
Discussion
Personally I’d never ask anyone else for money.
Fair enough.
I would much rather borrow money from people I know than participate in the very system I am attempting to escape.
I see your point, but look at it this way.
- You're going short fiat by making your family go long...
That’s how I’ve seen it in the past, and from a purely financial perspective that makes sense. Lately I’ve been paying a lot more attention to where my energy goes and I’ve begun to wonder if I want to give my energy to the system in that way.
There are pitfalls to borrowing from friends and family. I’ve also experienced and seen it done in ways that were far more meaningful and beautiful than anything I’ve experienced with a bank loan.
1. Offer interest. Make them whole enough... Especially if they were never going to invest that into bitcoin anyway.
2. This way you are not inflating the supply of currency.
That makes no sense to me.
Same. Never have and probably never will.
I think this highlights a key advantage of Bitcoin, liquidity. It’s easy to transfer, sell, etc. So BTC is strictly better than real estate in this regard. A bitcoiner likely would not be in this situation, they could sell or transfer their BTC in minutes.
And this gets convoluted because when people say “cash” it isn’t physical cash, it’s in some sort of account with varying levels of liquidity(usually very liquid but not always) and security.