krisadams on Nostr: Another point to think about, when bitcoin is understood by the masses, it’s likely ...

Another point to think about, when bitcoin is understood by the masses, it’s likely because they’ve watched their fiat be destroyed by inflation or they’ve witnessed the total collapse of banking due to extreme deflation.

In that world, who wants to own fiat long enough to deposit it in a bank so that the bank can loan it out to a borrower?

In time, I think people live in a bitcoin only world. As it’s not possible for credit to exist on bitcoin, people won’t be able to borrow. Therefore, investments will be made by people that are prepared to lose their own bitcoin. This should hopefully mean less malinvestment overall and the ideas actually benefiting from investment will be making the world a better place