Even Marcus fails to understand borrowing USD against Bitcoin is extremely regarded, extending the fiat ponzi. Bitcoin creates an entirely new economy. Instead of borrowing from tomorrow, we save for tomorrow. Work, save, consume (Bitcoin) vs Consume then work (Fiat). On a Bitcoin standard, all lenders are incentivized to rug your bitcoin and fulfill you with fiat. There is no peg, seems we learned nothing from gold and are perfectly happy creating paper Bitcoin as long as we become fiat rich. It's strange listening to all the great things Bitcoin provides, then hearing the mental gymnastics of how we'll jam it into the fiat box.
Thanks for sharing! Imho it is an inbetween “product” to challenge the purely predatory mechanisms in fiat finance before we move onto to full on Bitcoin. We can not switch from one day to the other, new generations - that grow up with Bitcoin - will accelerate this.
Lending can still exist under a bitcoin standard. Lending is a normal, human economic interaction between two parties. There will always be a demand for lending. But under a bitcoin standard, this interaction becomes extra risky(as it should: loans should NOT be dirt cheap). The point of Bitcoin is to be hard, incorruptible money. As long as that exists, then it is only a matter of time before all of the old fiat games crumble. A bitcoin standard will demonitize irresponsible loans and irresponsible spending. Which is another way of saying, that the free market will incentivize and reward saving, and decentivize and demonitize spending your future income.
My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse. My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
Yes. Everyone will hold bitcoin, earn in bitcoin, and spend in bitcoin. Be it on layer 1 , 2 , 3 etc. You will go to starbucks, and your pumpkin spice Latte will be priced in 10 sats, and the cashier machine will have a big ol orange B sticker on it, so you know they accept bitcoin as payment
My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse?.... My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
I do not understand how the dollar can generate sats and stay valuable am I missing something the interwoven connection with soverinty and the dollar createing a bitcoin. It just stays there no. I do research and these misunderstandings imnhaving will be solved thank you bram
Love Marty 🎉
🙏🙏
Best show ever🎉
Much respect Bram :)
Even Marcus fails to understand borrowing USD against Bitcoin is extremely regarded, extending the fiat ponzi.
Bitcoin creates an entirely new economy. Instead of borrowing from tomorrow, we save for tomorrow. Work, save, consume (Bitcoin) vs Consume then work (Fiat).
On a Bitcoin standard, all lenders are incentivized to rug your bitcoin and fulfill you with fiat. There is no peg, seems we learned nothing from gold and are perfectly happy creating paper Bitcoin as long as we become fiat rich.
It's strange listening to all the great things Bitcoin provides, then hearing the mental gymnastics of how we'll jam it into the fiat box.
Thanks for sharing! Imho it is an inbetween “product” to challenge the purely predatory mechanisms in fiat finance before we move onto to full on Bitcoin.
We can not switch from one day to the other, new generations - that grow up with Bitcoin - will accelerate this.
Lending can still exist under a bitcoin standard. Lending is a normal, human economic interaction between two parties. There will always be a demand for lending. But under a bitcoin standard, this interaction becomes extra risky(as it should: loans should NOT be dirt cheap). The point of Bitcoin is to be hard, incorruptible money. As long as that exists, then it is only a matter of time before all of the old fiat games crumble. A bitcoin standard will demonitize irresponsible loans and irresponsible spending. Which is another way of saying, that the free market will incentivize and reward saving, and decentivize and demonitize spending your future income.
My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse. My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
I felt like saying! Party!!! 🎉
Im waiting for Bitcoin to fall to $5.73 so that i can become a fullcoiner
It will never be lower than $69.420 again
it is definitely a funnel
I do not understand how bitcoin would work without the dollar what happens when the dollar runs out . Meansthe whole systems transfered to bitcoin?
Yes. Everyone will hold bitcoin, earn in bitcoin, and spend in bitcoin. Be it on layer 1 , 2 , 3 etc. You will go to starbucks, and your pumpkin spice Latte will be priced in 10 sats, and the cashier machine will have a big ol orange B sticker on it, so you know they accept bitcoin as payment
Mainstream Adoption Incoming 😊
My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse?.... My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
I do not understand how the dollar can generate sats and stay valuable am I missing something the interwoven connection with soverinty and the dollar createing a bitcoin. It just stays there no. I do research and these misunderstandings imnhaving will be solved thank you bram