pull down to refresh
0 sats \ 2 replies \ @CliffBadger 2h \ parent \ on: Getting out of debt bitcoin_beginners
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?
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.
reply
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.
reply