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423 sats \ 1 reply \ @nymkappa_ OP 11 Jun 2023 \ parent \ on: Is it ethical to get a fiat loan as a bitcoiner bitcoin
I love your "cantillionaire spectrum" idea. That's a great way to put it.
I also agree that in the end, what I do won't matter much as the system is made for infinite debasement of people's energy.
Maybe a moral way to approach this would be to:
a. enjoy my knowledge of the scam and short fiat to the ground by contracting loans to fund my life
b. educate as many people as I can, hopefully saving them from a 100% certain melt of their savings purchasing power
c. continue building on bitcoin
If we educated everyone, eventually a distributed speculative attack on fiat would happen.
If everyone heads to the bank and gets a fiat loan to invest in Bitcoin, this pushes the fiat price of Bitcoin up. This sparks a virtuous snowball where there is an ever bigger incentive to borrow fiat and buy bitcoin (as you say, shorting fiat).
You do this fast enough, and fiat hyperinflates away, and hyperbitcoinization kicks in.
So, coming back to the original question: one positive side of taking the loan is you are pushing the snowball towards fiat's death. It's a peculiar "the worse, the better" situation.
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