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0 sats \ 3 replies \ @0xBTC OP 13 Jul 2023 \ parent \ on: Opinion: Why BTC can't become the reserve currency bitcoin
The problem with the 'stop equating shit to fiat' is that BTC maxis act like people just need to make better choices. In some areas, this is true, but in others it is not possible. There are not enough houses in the world to house everyone, making the demand for them higher than the supply. This increases the price of housing over time and makes it not feasible to save your BTC up to buy a house outright.
We have to be realistic; people need to take on debt. Debt is good, it motivates people to work consistently. Buying a house outright is a pipe dream that ended when the world population is out pacing the rate of homes being built. The debt system will exist as long as there are less houses than people and debt does not go well with BTC.
why do people need to buy a house? Why not rent? or share a house?
owning a house is not a "right" nor a societal obligation to provide.
Too many idiots take (or are co-erced into taking) loans to buy properties they can't afford, and they do not adjust to account for the risks of increased interest rates.
Others, who are careful, and do not take those risks (who rent a long time to buy a house outright in a fairly priced area or country) are unfairly penalised by degenerate debt guzzlers who are then financially protected due to the self-interest of the ruling banking cartel
People do NOT need to take on debt. Many (many) people avoid debt. Many who do take on debt do not understand the risks they are taking, and do not even suffer the consequences of those risks.
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Saying debt is good is interesting. If debt is good then is the absence of it bad? What if you don't need debt to the level it is needed now. Would that be a bad thing? You keep speaking about the current system as if it is a law of nature that cannot be changed. Not only can it change, it will change. Debt is a necessary evil under a system of money that is inflationary. The artificial (non-market driven) low cost of debt leads to higher prices. I agree with you that under a bitcoin standard there will be less pressure to spend. I mean that's what you mean. The pressure to spend it created by holding dollars that will be worth less tomorrow than today vs. something I can use or something that will increase or hold its value over time. It makes me wonder why you are even interested in bitcoin at all.
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Buying a house outright is a pipe dream that ended when the world population is out pacing the rate of homes being built. The debt system will exist as long as there are less houses than people and debt does not go well with BTC.
People also die every day. Supposedly a lot of them died during covid.
The inventory issues with housing are mostly a result of decades of (mis)planning and corruption. It’s not a result of any natural market
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