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0 sats \ 18 replies \ @Lux 7 Dec \ parent \ on: A World Without Money bitcoin
I watched this talk now
So a "new corporate entity" will be made for every loan with a structure similar to bitcoin escrows, something like a Trust formed for each loan.
This could work, but still needs to adhere to regulations, and needs a trusted secure custodian. i'm watching
The question is very simple: if you give your BTC, even in a trust or escrow, what are you going to use? A bullshit token?
We are going back to IOUs, but this time more sophisticated, electronic, digital and maybe easier to fool people.
I DON'T BUY THIS WITH BITCREDIT.
All this idea is pushed around by the same banksters, that now are "renamed" in Bitcoin CEOs... that want again the control of the masses.
Just look who is behind this idea... follow the money.
But they will fail, because their strategy is to adapt Bitcoin to the same finance system instead of adapting the world to Bitcoin system. The only they can fool people to create these "reserves / trusts / whatever call it banks" where (stupid) people will just give them their BTC and in exchange will get a so called "bitcredit" bullshit token.
The whole (wrong / deceitful) narrative the push is that Bitcoin doesn't have enough units to be used as money. They are wrong, in fact they are smart, only wants to fool people again and again.
People must understand the Bitcoin system that is very simple:
IF YOU DO NOT HAVE IT - YOU CANNOT SPEND IT.
You spend ONLY what you have, when you have.
Do not create debt if you cannot pay it in the first place.
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Darth this is not a L2 or payment network or to be used to pay for living costs.
It's for merchants to facilitate investments and trade.
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It's a trap.
@remindme in 5 years
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Could be, we'll see.
I need to see the details and how it works in practice.
Could be useful to start a business and so on.
There's gonna be lending with Bitcoin, like with all the monies in the past.
At least we should try to make it as trustless as possible.
And not repeat the mistakes.
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There's gonna be lending with Bitcoin
I prefer to die of hunger but not creating more debt anymore.
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I will never accept BitCredits for payment.
Promise you that
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The thing is that they only want to create more debt, but now in a brilliant sneaky way, fooling easily people. But not Darth.
Darth bullshit-meter is at high levels with this Bitcredit shit.
Just ask a simple question: why in the whole debate / discussion / documentation of Bitcredit, they do not say a word about eliminating the fiat?
Not a single time. The whole narrative is based on the BTC price in fiat.
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It says in the first Chapter that this is required to remove fiat, showing the Greek example. Care to read before inventing rubbish?
ššš
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