Right, we just need to get back to the "good old days" of capitalism.
Bitcoin, with the monetary freedom it provides, is a giant leap in the right direction.
Topic: If I loaned you 1 bitcoin today, how could i expect you to repay if value rises? - page 3. (Read 3007 times)
March 22, 2014, 12:08:22 AM
On that point, we agree. Cryptocurrency is an incredibly powerful technology for liberation.
March 22, 2014, 12:07:23 AM
If I loaned you 1.00000000 bitcoin's today, which has a value somewhere around the arbitrary number of whatever value $600 i really supposed to represent, With a 10 year term.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
To avoid that hassle, if you loaned something as small as 1btc, the term of the repayment would just need to be quickly to avoid much variance If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
March 22, 2014, 12:03:22 AM
whats wrong with capitalism?
If you have to ask this question, congratulations you live an extremely privileged life, pretty much in a bubble from the awfulness of the rest of the world. Typical westerner.whats wrong with capitalism?
The better question is where can we find capitalism? All I see is corporatism.
When was that exactly, when women were property? The slavery era? Capitalism is a horror show, and it's only getting worse until it's dead.
http://www.youtube.com/watch?v=hpAMbpQ8J7g
http://www.ted.com/talks/john_hunter_on_the_world_peace_game
March 21, 2014, 11:31:00 PM
If I loaned you 1.00000000 bitcoin's today, which has a value somewhere around the arbitrary number of whatever value $600 i really supposed to represent, With a 10 year term.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
That's not really a loan, it is short selling. If the price of bitcoin rises, the person making the loan of the commodity needs the borrower to come up with collateral or money to cover the short position, or they need to buy a bitcoin as collateral to cover themselves. If the loan is unsecured, then you probably just lost a bitcoin.
March 21, 2014, 10:59:33 PM
If I loaned you 1.00000000 bitcoin's today, which has a value somewhere around the arbitrary number of whatever value $600 i really supposed to represent, With a 10 year term.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
You wouldn't expect repayment. You'd have to charge a ludicrous interest rate for that loan to have a positive risk-adjusted net present value, an interest rate nobody could afford or would ever want to pay.If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
Long term BTC-denominated loans are nonsense.
Even short term loans have extremely limited use cases.
legendary
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March 21, 2014, 10:53:02 PM
whats wrong with capitalism?
March 21, 2014, 10:41:32 PM
If I loaned you 1.00000000 bitcoin's today, which has a value somewhere around the arbitrary number of whatever value $600 i really supposed to represent, With a 10 year term.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
Debt is slavery, if you give me a dollar, don't ever expect it back. There's a reason bitcoin transactions are one-way, just like cash.If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
If I'm so poor that I need to borrow money to meet my needs, my society has FAILED at both equality and solidarity.
http://strikedebt.org/
Did I mention fuck capitalism?
Because fuck capitalism.
lol jesus christ I can't believe people like you exist
Your time will come soon too, capitalist.
March 21, 2014, 10:38:53 PM
If I loaned you 1.00000000 bitcoin's today, which has a value somewhere around the arbitrary number of whatever value $600 i really supposed to represent, With a 10 year term.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
Debt is slavery, if you give me a dollar, don't ever expect it back. There's a reason bitcoin transactions are one-way, just like cash.If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
If I'm so poor that I need to borrow money to meet my needs, my society has FAILED at both equality and solidarity.
http://strikedebt.org/
Did I mention fuck capitalism?
Because fuck capitalism.
lol jesus christ I can't believe people like you exist
March 21, 2014, 10:36:03 PM
If I loaned you 1.00000000 bitcoin's today, which has a value somewhere around the arbitrary number of whatever value $600 i really supposed to represent, With a 10 year term.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
Debt is slavery, if you give me a dollar, don't ever expect it back. There's a reason bitcoin transactions are one-way, just like cash.If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
If I'm so poor that I need to borrow money to meet my needs, my society has FAILED at both equality and solidarity.
http://strikedebt.org/
Did I mention fuck capitalism?
Because fuck capitalism.
March 21, 2014, 10:30:28 PM
If I loaned you 1.00000000 bitcoin's today, which has a value somewhere around the arbitrary number of whatever value $600 i really supposed to represent, With a 10 year term.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
If bitcoin rises in dollar value over 10 years by a multiple of 10, or the dollar devalues by a factor of 10, how could I reasonably expect repayment of the original loan of 100 million satoshi's.
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