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0 sats \ 8 replies \ @DarthCoin 4h \ parent \ on: Rant: If you think 50 year mortgages is debt slavery, you don't understand money econ
Is renting with full rights for 100 years. I do not want to buy it but also I am not an invader.
Is all based on natural law, mutual respect.
A bitcoiner (a creditor) do not have to own any land. Just bitcoin.
Is a matter of mentality...
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Property and ownership must be respected ! Without ownership, we have nothing.
In these times, if you want to own a land/house, go ahead, spend your sats and energy for it if you want. But I prefer to pay a monthly / yearly rent then buy a house.
By owning only bitcoin I have more freedom than others, I can do whatever I want and go wherever I want, anytime.
But I will never go into debt just for the sake of owning that piece of land. If I do not have enough money to buy instantly, at once, I prefer to stay on rent and earn little by little, spending less than I earn until I have enough.
Bitcoin is savings mentality.
Fiat is debt mentality.
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So real estate can be owned, and ownership is valuable.
If @SimpleStacker works 50 years and acquires real estate in exchange, that's not slavery, it's exchanging work for a productive asset (real estate).
If the banks lend him (increasingly) worthless fiat to achieve this goal faster, participating in the scheme is rational for him, no?
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Wrong. You are not paid in houses for your work. You are paid with fake money, then you go and contract that mortgage (debt) with a promise to pay (IOU) that in fact is already paid. Look again to the image I posted above from ECB website. It says clearly how those mortgages are paid in the moment you sign. YOU are the one creating fake money and then they fool you to pay it back...
Don't be fooled.
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If owning fiat is a loser's game (which I agree!), doesn't it follow that owing fiat (being in fiat debt) must be a winner's game (assuming low enough interest rate)?
A mortgage is a combination of two things: 1) you take on fiat debt and 2) you immediately exchange the fiat for real estate.
Now you hold a valuable and productive asset (land) and owe a depreciating asset (fiat). Time is on your side now. Any bitcoiner convinced fiat will rather quickly devalue against land should agree.
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How many times I have to repeat: YOU are the one creating fake money. Stop doing that or we will never get out of this shit.
Buy land with sats if you really want to do something good.
This is not a game of devaluing, is a game of being free or slave.
Fiat is the root of all evil that exist on this planet.
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No. Devaluation do not bring bitcoinization. Brings only more debt and slavery.
You will be fooled over and over to stay in debt.
You guys are way behind in mentality, seems that papa Saylor really twisted your mind.
Bitcoinization will come ONLY when you stop using fiat and most importantly, stop demand it.