Oddbean

不信任決議翌日の斎藤知事、複数のテレビ番組に登場「出直し選準備では」憶測呼ぶ進退明言せず 🤔 兵庫県議会が斎藤元彦知事に対する不信任決議案を全会一致で可決した翌日の２０日、斎藤知事は県庁に登庁しなかったが、複数のテレビ番組に収録や生出演で姿を見せた。 https://x.com/kobeshinbun/status/1837117433594925508

You can always create debt. That's all yield is. It's the rent on money loaned and you can definitely have it with a fixed supply. It just means that you'll get recked faster because you can't devalue your debt... Unless you're an ecash fool that wants to create mints. Then your back to the same shitcoin universe with mints creating more ecash than they hold in sats. Like a dog back to his vomit.

You should listen for yourself. They were talking past each other on "yield". To me it sounded like Saylor was saying people will still need loans and bitcoiners would lend their bitcoin provided the " bank" were reputable. Seems like a rational prediction. I don't agree with Saylor on many things but he's not dumb. He was not advocating for the current yeild nonsense.

Exactly this. What I think is hanging people up is that Saylor repeatedly referred to "risk-free". In the context of the entire conversation, however, it's clear he was referring to the fiat system which he said wasn't going away in the next 10 years (this doesn't seem an unreasonable working assumption to me). What nobody bothers to mention is that Saylor also clearly acknowledged the counterparty risk inherent in lending Bitcoin for yield in Bitcoin terms; and this is correct. There is the obvious risk that the counterparty may not live up to the deal; but there's nothing about a fixed supply system that prevents a counterparty from returning more Bitcoin than what was borrowed (i.e. 'yield') any more than it prevents a renter from paying a landlord at the end of the month in Bitcoin the renter hasn't yet earned - which is a point Saylor tried to make; but by that time, Saif was a brick wall.