jimmysong on Nostr: I canceled my credit card of 29 years yesterday. As rates go up, fiat mechanisms like ...
I canceled my credit card of 29 years yesterday.
As rates go up, fiat mechanisms like credit cards make less and less sense. One of the realities of hyperinflation is that ironically, there's no consumer credit to be had anywhere.
I've always thought that Bitcoin as method of payment would come about when merchants demand it. Now I'm thinking that there might be some pressure on the consumer side as well, as the cost of credit cards goes up.
As rates go up, fiat mechanisms like credit cards make less and less sense. One of the realities of hyperinflation is that ironically, there's no consumer credit to be had anywhere.
I've always thought that Bitcoin as method of payment would come about when merchants demand it. Now I'm thinking that there might be some pressure on the consumer side as well, as the cost of credit cards goes up.