Amrush on Nostr: Saylor's comments on yield over BTC completely misses the point. As a Muslim, I ...
Saylor's comments on yield over BTC completely misses the point. As a Muslim, I consider avoiding Riba in all forms (interest, unproductive yield, and money printing... Etc.) as a paramount financial ideal.
When Saylor says BTC is yield bearing, he is trying to reestablish the Riba mechanism on BTC. He can, for sure, demand interest or yield, but what's most certain is that on the long run it is impossible to keep running. The ultimate case is that all 21M btc is lent out, where are lenders expecting more bitcoin to cover the yield?
In a soft money standard, interest is supported by fiat money printing. In a hard money standard, interest us pure usury that expects creating money out of nothing. The two ideals are just incompatible.
When Saylor says BTC is yield bearing, he is trying to reestablish the Riba mechanism on BTC. He can, for sure, demand interest or yield, but what's most certain is that on the long run it is impossible to keep running. The ultimate case is that all 21M btc is lent out, where are lenders expecting more bitcoin to cover the yield?
In a soft money standard, interest is supported by fiat money printing. In a hard money standard, interest us pure usury that expects creating money out of nothing. The two ideals are just incompatible.