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26 sats \ 2 replies \ @ideasourcing 11 May 2022 \ parent \ on: Daily discussion thread
Yeah, I think interest is fundamentally evil. If anything, interest should be pegged to inflation. If 1 apple cost 10 sats when I lent it to you, and you want to return the loan a year later but 1 apple now costs 12 sats, then you give me back 12 sats.
I think interest is fundamentally evil.
That's why I wouldn't take interest when I lend my kitchen blender to my neighbor :p
If 1 apple cost 10 sats when I lent it to you, and you want to return the loan a year later but 1 apple now costs 12 sats, then you give me back 12 sats.
But what if a genious wants to start a business to make his genious idea a reality and someone would lend him money to pay the salary for the first year (at his own risk!!). And rich person b would take the risk... Would you say it's evil if the two get a consensual agreement?
I think there is a spectrum here somewhere
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Would you say it's evil if the two get a consensual agreement?
well... there's a difference between saying something is evil and regulating it out of existence. so, in this hypothetical, i could do both... say it's evil, and allow it.
still, i would prefer that systems are developed and maintained which enable the Genius to solicit wages from the Investor in exchange for equity, much as it's done now.
likewise, if the Genius went to a Bank and wanted to borrow enough to start his business, i would prefer to see Bank take an equity stake in the business instead of taking a rent on the money... but who am I to tell them what they can and can't do.
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