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21 sats \ 10 replies \ @Rothbardian_fanatic 19 Dec 2024 \ parent \ on: Borrow against your Bitcoin bitcoin
How can people, in their right mind, spend more than they take in?
Credit cards are only good if you pay them off BEFORE interest payment is required. Otherwise you only dig a hole you cannot get out of, so, stop digging.
This is how fiat twisted their mind, to borrow more to spend more.
The savings word is eliminated fr;m their mind.
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The people that save have either not been fully indoctrinated or come from a different country. I think that many Oriental countries have very high savings rate because they are by-and-large told that they have to fend for themselves in old age. They save like maniacs and watch their savings closely.
The question is; who put us in this mindframe.
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In 2021 I wrote these thoughts...
https://telegra.ph/LendingBorrowing-in-a-Bitcoin-world-07-05
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So what “smart guys” are doing now? EXACTLY what banksters did in the 17th century: offering to those gold owners, a place to deposit their valuable gold coins, into a bank vault, in exchange for a piece of paper, an IOU of x amount of gold. Now they are offering digital platforms for Bitcoin owners, to lend their BTC for a % of interest. But nobody ask: “from where is coming this %of BTC interest, if will not be created more BTC?”.
Yes, but you have to ask yourself who the smart guys are. To be able to avoid THEM you have to be able to identify THEM.
Better yet, don’t ever bother with THEM, don’t go into debt and don’t borrow their fake money and don’t give them the traction they get from people being asleep.
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don’t go into debt and don’t borrow their fake money and don’t give them the traction they get from people being asleep.
1000% WELL SAID!
I see very few people here on SN thinking right !
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Perhaps it is just lack of experience, don’t you think?
People are usually in the case of: “Caught me once, shame on you, caught me twice, shame on me!” I don’t hear about people being caught the third time, do you?
They whole trick here is to know that you’ve been caught, in the first place.