I did not say you would need credit. I am talking about creating credit, based on your collateral, meaning the issuance of letters of credit. That is when you become your own bank, then you start to make money with the credit you create. Otherwise it is just as illiquide as your house or a parcel of land that yields nothing.
What can you buy though? If they ban BTC in the future, you cant buy property or food in the shops with it.
You'll be relegated to black market deals only.
You are your own bank if you actually bank with it.
Which means you use it as collateral to create credit. Do you?
Serious question, JR: if you’re buying a house and/or property, can you use Bitcoin? If so, how would that work?
Commendable!
I did not say you would need credit. I am talking about creating credit, based on your collateral, meaning the issuance of letters of credit. That is when you become your own bank, then you start to make money with the credit you create. Otherwise it is just as illiquide as your house or a parcel of land that yields nothing.