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0 sats \ 10 replies \ @CliffBadger 3h \ parent \ on: Getting out of debt bitcoin_beginners
If you can manage to avoid getting margin called long enough for the BTC to appreciate faster than the loan's interest rate, the victim isn't you.
You are not paying attention. You are still part of the problem: creating more fiat from thin air (aka with your signature).
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Then what you're effectively suggesting is that only fiat companies be allowed to take advantage of the money printer. Why shouldn't we use it for ourselves while it lasts?
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They're always on your shoulders, whether you take the money or not.
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Not true.
I owe the fiat debt slavery bankers nothing and I can tell them to fuck off - and I do.
If you are in debt you are not free.
Start working toward freedom today or remain a slave to the fiat bankers.
Up to you.
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I'm not paying more than the minimums while BTC is under $200k. A gain of >100% in less than a year outweighs a 30% interest rate. Why would I pay everything off now, if I can just wait a few months to pay it off with half as much BTC as I would otherwise need to sell?
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Because the banks are parasitic leeches that you don't want to feed?
Because you want to be free from the fiat parasites and leave them to die?
While I understand your reasoning, to use the fiat debt leverage to speculate on Bitcoin, that is, in my opinion, a trap...but it is also a thing where it depends on your priorities.
If you are comfortable using fiat debt leverage to speculate then that's your choice...it's just not a choice I would make.
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The death of fiat is already a mathematical certainty. The banks are operating on autopilot. They don't understand yet that they, like everyone else, have to sweep all of their long-term assets into BTC in order to compete in the world. I'm leveraging Bitcoin's NGU tech, but I'm also leveraging the information asymmetry, in that the banks aren't yet aware of how NGU tech works.