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21 sats \ 4 replies \ @Rothbardian_fanatic 22 Nov \ parent \ on: The Apex Predator of Collateral bitcoin
You put up your signature, your honor and your credit.
Are you lending your crypto or BTC out? There is that scam out there.
Semi-correct but low self-esteem take:
- you put up your signature.
- banker conjures worthless money
- banker puts x% of worthless money into bitcoin
- when bitcoin goes up, banker cancels your loan and you keep house
High self-esteem take:
- Let dumb bankers pay off their own trash-money loan and keep free house.
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You are literally supporting a fiat system instead of crushing it.
You are not far from their evil.
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Yes, that is a heavy weight forever scam! There were no bitcoin about when this came up for me. I paid for my first house in cash-on-the-barrellhead, no mortgage. I got the bare experience of taxes without an escrow account. Twice a year I went to the tax office and gave them hell as long as I owned that home. Closing on it was a breeze.
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