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4a: You can't be sure of that. The court can always decide (and I've seen many analogous situations in which it did) that your debt is not valid, it was oppress
by fiatjaf 9y ago
4a: You can't be sure of that. The court can always decide (and I've seen many analogous situations in which it did) that your debt is not valid, it was oppressive, it abused the customer needs etc. and so you lose.
4b: Of which incentives are you talking about? The other points you've mentioned are trivial, this is the only point that has problems. If you solve 4b somehow someday you'll be making a huge benefit to the world, a revolution greater than Bitcoin.
- 21 9y ago4b: big men with clubs? that was the traditional incentive to pay
- matt_wulfeck 9y ago> 4a: You can't be sure of that. The court can always decide (and I've seen many analogous situations in which it did) that your debt is not valid, it was oppressive, it abused the customer needs etc. and so you lose. Most people who take loans in situations like this are members of the community and are grateful for the opportunity. There’s always a level of write-off, but the system doesn’t need to guarantee total repayment.