Or maybe he’s looking way out when many major banks offer bitcoin custody and yield, fdic insured, and less likely to fail than a Celsius or Coinbase. If Chase or BoA could custody your BTC and offered a 5% yield, you are probably way more safe than Celsius, but I still wouldn’t do it.. nostr:note1q0hmh8x7nnst3rzvaft7f2vqqz26jvn5g9xnxpr0xwanrfak7pustwqmtu
Pretty sure he’s been saying this for a long time, nothing new. Personally, I think there will always be a role for credit, even with a hard fixed supply asset. Risk and therefore interest rates will be much higher in a deflationary system, but I think due diligence and reputation will take on much bigger role than it does in today’s credit based economy where banks are incentivized to print money and hand out loans to anyone with a pulse.
Listen to this. @allen breaks it down nicely. https://fountain.fm/episode/z4Tanq4K3yPyByEAa7m5
One of the books I read on personal finance, The Richest Man in Babylon, talks about investing, even under a gold standard. I don’t see why I wouldn’t invest in something I understood, even if it meant using part of my stack to buy something to sell and grow it further. I didn’t necessarily like how Michael approached his discussion with Saifedean, but I think I understand what he was talking about.
I'm surprised Saylor went there. If you don't know where the yield is coming from, you're probably the yield. I see no reason why a bank would pay you a yield to hold your Bitcoin unless they then exposed it to risk. I bought Bitcoin to escape that third party risk. Using Bitcoin as collateral for a fiat loan is different. You're paying a yield to them for acquiring fiat that they created out of thin air. It's not exactly ethical but it's beneficial for both the lender & borrower. I'm surprised he didn't bring that up because he has in the past.
I'm available now for a 1-1 convo.-!! You can connect with me via simpleX Chat with the link below ⏬ https://simplex.chat/contact#/?v=2-7&smp=smp%253A%252F%252FPtsqghzQKU83kYTlQ1VKg996dW4Cw4x_bvpKmiv8uns%253D%2540smp18.simplex.im%252FD1yZe9VTHaaYgGw5orbCq5dKNRuXn67I%2523%252F%253Fv%253D1-3%2526dh%253DMCowBQYDK2VuAyEA8jxuVUwBtzlwikmHx9Tqpstet3raCJyvenI2ql6lWyk%25253D%252