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Exactly. That’s why in Bitcoin, the ideal is to collateralize an asset rather than rely on usury itself. Because usury, regardless of time preference, places all the risk solely on the borrower — from repayment to the collateralized asset — and that, in this case, is what makes it usury.
We’re here working through ideas; this isn’t a final definition or an academic debate. But it’s uncomfortable and unproductive when all your replies are just questions. I think I’ll step away from contributing to this thread.
OK, I can understand that.
What you are implying is that the lender should take all the risk without any chance of gain. I do not see this as a situation where both parties gain from the deal. Therefore, the deal will not happen. As long as both parties cannot agree on terms, it won’t happen, ever. Both parties to a deal, trade or loan or whatever is going on, need to think, at the time of the deal, that they are getting more value than they are giving up.
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