0 sats \ 0 replies \ @mudbloodvonfrei OP 28 May 2023 \ parent \ on: How would credit work post-hyperbitcoinization? bitcoin
Thank you!
Upon further thought, I don't think mortgages will disappear since those loans are backed by real estate and the government can't print land any more than it can bitcoin. But loans for taking a vacation or buying a car? Can't imagine that happening.
Also, I was thinking, The Bible forbade charging interest millennia ago and I think Islam does as well - it seems bizarre in today's world but if you have deflationary currency (gold could have been locally deflationary if there's no local gold reserves and a rapidly growing population) it kind of makes sense because getting repaid in nominal terms means your purchasing power has increased. I wouldn't loan to a stranger without interest because of default risk, but maybe in my local community I would.