Thread - Nostr Hypermedia

I don’t think that is accurate. A lot of rich people who had gold reserves collateralized their gold for bank loans which were in turn invested in “guaranteed” priority debt claims on projects … which also included yields on projects. Debt (priority) claims are very attractive for numerous reason on a sound money standard.

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samuel _@bitcoinstr.us 1 year ago

It is exciting times we live in because only time will tell how this really pans out. #BTC is a much harder asset than gold. Keep in mind they’re digging 54,000,000 ounces of gold / year out of the Earth and if the price of gold goes up, that number goes up, but it doesn’t matter how high the price of bitcoin goes #BTC will only be 450 tokens / day. And that number will be reduced by two in about 3 1/2 years. #HODL #BTC #bitcoinstr

plebiANON plebianon@nostrplebs.com 1 year ago

But that wasn’t the general trend. Society was moving to equity investments as capital. Also, more importantly, that bank was fractionally reserving their gold deposits. They created some portion of the loan out of thin air. There eventually will be no dollars to create out of thin air.