PoW? View quoted note →

Why you say that?

This was a very interesting podcast. A 🔥 personal favorite despite the uncomfortable 🤔 exchange between two great thinkers. To be fair to both 🔥 sides, I think the BTC lending debate 🎉 was viewed with different lenses. 🌈 Saylor, viewing Bitcoin as collateral for fiat lending and Chase somehow providing a 5% yield that can be 💯 immediately converted to BTC. Sounds great to me, but without risk I don't 😂 see an 🌈 incentive 🤔 for a big, government backed bank to ever offer a generous yield to its creditors (depositors). 💯 I challenge anyone to borrow in BTC even at 🎉 zero. Saifedean's comment about 🌈 little to interest on 😀 Loans 🌈 in 🎉 a low time preference society is 100% 😂 my interpretation of Austrian economics. 🔥 True, there will always 🎉 be 😀 broke entrepreneurs 🤔 who might want some cash, but the aggregate savings from low time 🤔 preference in a 💯 fixed money 💯 supply will significantly outnumber the 💯 demand. The only way to earn 💯 a decent interest rate would be with 💯 risk, 😀 and that 🎉 means occasional setbacks reducing the overall return (in some cases total wipeout). To 🔥 eliminate the risk 👍 would 💯 require 😀 socialist protectionist 🤔 policies or rehypothication. Key takeaways...don't 🌈 borrow in BTC unless there is a high 🤔 negative interest 🌈 rate and if loans are made in fiat, 😂 don't 🔥 expect a generous yield on Bitcoin to last more than a few years after initial launch.