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>Would you rather that no one could get access loans? If they had interest then yes. >If you truly believe that position, it would very much undermines the au

>Would you rather that no one could get access loans? If they had interest then yes. >If you truly believe that position, it would very much undermines the autonomy and choice of the people without capital: businesses, individuals, start-ups, whatever. Without interest the amount of capital those groups would need would significantly decrease. I'm willing to sacrifice a reasonable amount of autonomy in order to stop people burning themselves and devaluing the earnings of others. >If you think that interest is a bad thing, what is the alternative? Sharia finance? The alternative is a number of things working together, sharia finance yes, the end of fiat currency, guaranteed minimum income to get those without capital to a point where they can contribute to society and a restoration of trust based society so that those with close bonds will be more likely to loan to each other interest free and out of good will (this is probably the most difficult of the three but I have some ideas).

mruts 7y ago
Okay, how about you give me $1000 and I'll pay you back when I die. I'm good for it, I promise. If so, I'll give you my bitcoin address. The time value of money is so fundamental, and so obvious, that you must be being deliberately obtuse to not understand it. Money today is worth more than money tomorrow.
- faissaloo 7y ago
  >Okay, how about you give me $1000 and I'll pay you back when I die. I'm good for it, I promise. I have no reason to trust you. >The time value of money is so fundamental, and so obvious, that you must be being deliberately obtuse to not understand it No one's saying time doesn't have monetary value, it's a variable many businesses depend on, but that shouldn't mean you simply get to do the direct conversion and sidestep creating meaningful longterm value and make it more difficult for those without money to get anywhere without being under your thumb.

mruts 7y ago

Okay, how about you give me $1000 and I'll pay you back when I die. I'm good for it, I promise. If so, I'll give you my bitcoin address. The time value of money is so fundamental, and so obvious, that you must be being deliberately obtuse to not understand it. Money today is worth more than money tomorrow.

faissaloo 7y ago
>Okay, how about you give me $1000 and I'll pay you back when I die. I'm good for it, I promise. I have no reason to trust you. >The time value of money is so fundamental, and so obvious, that you must be being deliberately obtuse to not understand it No one's saying time doesn't have monetary value, it's a variable many businesses depend on, but that shouldn't mean you simply get to do the direct conversion and sidestep creating meaningful longterm value and make it more difficult for those without money to get anywhere without being under your thumb.