Two points:
1) Is what the EU was doing to Greece really usary or corrupt? Was Greece forced to borrow money? Was the rate higher than market rates? Was Greece forced to pay back early? - if the answer is no, than it was Greece's choice to borrow that money and they should figure out a way to pay it back.
2) The act of borrowing and lending (and the slave like feeling it can cause to those who borrow and don't pay the debt back quickly) isn't a fiat problem, it's a human problem. People and Governments decide to go into debt because they need or want something that they can't pay for. The act of lending actually pushes progress forward because it allows people and Governments to expand their world, business, operations beyond their means. It's not always a bad thing - only when the amount borrowed exceeds what can be paid back.
Debt slavery will occur with Bitcoin because people will always have a need to borrow money.
1) Is what the EU was doing to Greece really usary or corrupt? Was Greece forced to borrow money? Was the rate higher than market rates? Was Greece forced to pay back early? - if the answer is no, than it was Greece's choice to borrow that money and they should figure out a way to pay it back.
2) The act of borrowing and lending (and the slave like feeling it can cause to those who borrow and don't pay the debt back quickly) isn't a fiat problem, it's a human problem. People and Governments decide to go into debt because they need or want something that they can't pay for. The act of lending actually pushes progress forward because it allows people and Governments to expand their world, business, operations beyond their means. It's not always a bad thing - only when the amount borrowed exceeds what can be paid back.
Debt slavery will occur with Bitcoin because people will always have a need to borrow money.
1. Greece isn't a real thing. It is imaginary and only exists in the minds of man. Representatives of this imaginary thing also exists as being legitimate in the minds of many of men, but there is an argument for it being illegitimate. It is just a maths problem. (Edit: an unsolvable maths problem)
2. If shit was cheaper people could expand their worlds just as easily. How many years would it take if each man physically built his own house? All of his life? 100k for a house at the bottom of the market is unreasonable in my opinion but when I come to be an older man I would expect the inflation to be even greater for the prices to be paid by the currently unborn because no one wants to be at the shitty end of a ponzi scheme.
If bitcoin does reach critical mass it seems a good jump from those at the end of the ponzi of fiat to be an early adopter of something new. Man can still have a head start on the unborn as they have a head start on accumulating, and then history will probably repeat itself because deep down we are all dicks (sometimes).
