#434: Capital in the 21st Century with Allen Farrington
TFTC: A Bitcoin Podcast
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The Problem With Bitcoin Debt
On a Bitcoin standard, on any sign, money standard, there just won't ever be any debt because the cost of interest will go to zero and your upside is capped. The problem isn't that debt bad equity good; it's that we have far, far more of it than we would on sound money. A lot of it is supported by a pretty serious malinvestment such that it actually ends up representing savings for a lot of people but they will ultimately just collapse.
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