krisadams on Nostr: Since Bitcoin is a finite asset, and nobody can create more out of thin air, it means ...
Since Bitcoin is a finite asset, and nobody can create more out of thin air, it means that there can never be a bail out from the government. If that’s the case, then why would I place my bitcoin in a fractional-reserve institution? Doing so would be risking the loss of a very large proportion of my original deposit.
For that reason, I think that retail credit will not exist on Bitcoin. Essentially, the Bitcoin protocol, which programmatically created a sound monetary system, will reprogramme the world and how it thinks about money and credit.
In time, the global population will come to realise that the fiat monetary system had power over them and their right to economic prosperity. They will realise that Bitcoin gives them freedom to save their economic energy through time without the risk of debasement through inflation.
A Credit Risk Analyst’s Journey into Bitcoin https://medium.com/@kris.john.adams/a-credit-risk-analysts-journey-into-bitcoin-c035ec86ba1
For that reason, I think that retail credit will not exist on Bitcoin. Essentially, the Bitcoin protocol, which programmatically created a sound monetary system, will reprogramme the world and how it thinks about money and credit.
In time, the global population will come to realise that the fiat monetary system had power over them and their right to economic prosperity. They will realise that Bitcoin gives them freedom to save their economic energy through time without the risk of debasement through inflation.
A Credit Risk Analyst’s Journey into Bitcoin https://medium.com/@kris.john.adams/a-credit-risk-analysts-journey-into-bitcoin-c035ec86ba1