Saylor's comments on yield over BTC completely misses the point. As a Muslim, I consider avoiding Riba in all forms (interest, unproductive yield, and money printing... Etc.) as a paramount financial ideal.
When Saylor says BTC is yield bearing, he is trying to reestablish the Riba mechanism on BTC. He can, for sure, demand interest or yield, but what's most certain is that on the long run it is impossible to keep running. The ultimate case is that all 21M btc is lent out, where are lenders expecting more bitcoin to cover the yield?
In a soft money standard, interest is supported by fiat money printing. In a hard money standard, interest us pure usury that expects creating money out of nothing. The two ideals are just incompatible.
amrush /
npub19x…syr7v
2024-09-21 18:39:32
in reply to nevent1q…9nun
Author Public Key
npub19xfxa9yvujd235ftrcfrmscwka7rnzas4qe9cle247s2sxst8wfq7syr7vPublished at
2024-09-21 18:39:32Event JSON
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"content": "Saylor's comments on yield over BTC completely misses the point. As a Muslim, I consider avoiding Riba in all forms (interest, unproductive yield, and money printing... Etc.) as a paramount financial ideal. \n\nWhen Saylor says BTC is yield bearing, he is trying to reestablish the Riba mechanism on BTC. He can, for sure, demand interest or yield, but what's most certain is that on the long run it is impossible to keep running. The ultimate case is that all 21M btc is lent out, where are lenders expecting more bitcoin to cover the yield? \n\n In a soft money standard, interest is supported by fiat money printing. In a hard money standard, interest us pure usury that expects creating money out of nothing. The two ideals are just incompatible. ",
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