Why 'Buy, Borrow, Die' Doesn't Work for Bitcoin

Many Bitcoin maximalists proudly proclaim they will never sell their bitcoin. This is founded in the belief that it will eventually be worth many times more than what it is worth today. And in fact, if it does become universal money, it will absolutely have to be worth much more than it is today. However, given the fact that the best case scenario for bitcoin is that everything else is priced in BTC terms, the "buy, borrow, die" strategy will both cease to work and cease to be a profitable or beneficial one to use.

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#bitcoin #buyborrowdie #hardmoney

[joannebonnett]

*POOR MINDSET IMMEDIATELY SEES A SURPLUS AS AN OPPORTUNITY FOR CONSUMPTION RICH MINDSET SEEKS TO SPEND THEIR TIME RESOURCES, AND ENERGY ON WORK THAT CONTINUES TO PAY OFF LONG AFTER THE EFFORT HAS BEEN INVESTED, *

[michaelearlgrey]

It's an awesome hypothetical future, so long as we don't allow digital fiat to continue this economic slavery we've gotten used to over the decades.

[hckytwn]

Hyperbitcoinzation just means it becomes the world’s reserve currency. It doesn’t mean all other currencies go away. For example, right now, USD is the reserve currency, but you can still get loans in Euros, Yen, Pounds, etc. That would still be the case under Hyperbitcoinzation; governments will always need a currency they can create/manipulate and that currency will always be legal tender in that country and it will always be what you need to pay taxes in.

[edwinsvoboda]

<BTC is really in a class of its own, it has no competitors. Most people think... Investing in crypto is all about buying coin and leaving it to rise, 😀 😀 common it takes much analysis to be a successful crypto trader, i trade with Fredrick James Hudson, his skills set is exceptional. I am already growing my 3.2 btc to 14 btc from September till date>🙌🏻

[HelloNotMe]

Crypto is worthless in any kind of emergency. What happens when the power goes out for a month or two due to a hurricane or freak storm? You can’t buy food because no internet. Just some food for thought (pun intended).

[dwntgrnd]

In the future (in our lifetimes? perhaps) there will be 3 global monetary standards: The digital Dollar, the Digital Yuan and Digital Gold (BTC). Fiat will never go away. It will always be required to support "the state." It will never, ever become the sole currency of the planet. FIAT and BTC will coexist in a synergistic relationship.

BTC will become the dominant "store of value" and the DD and DY will become liquidity for transactions and will fluctuate accordingly. IMO "Buy, Borrow, Die" will remain a viable wealth strategy for generations.

[mikejones]

Man I love this channel. I wish Heresy Financial would do even more videos.

[joannebonnett]

*Despite the economic crisis, this is a Still a good time to invest in stock and Crypto*

[holdenwinters]

Bitcoin won't have a fixed supply until 2140, so buy, borrow, die works for us, mostly because of the dying part before it is a fixed supply. You are assuming that the best case scenario will happen before we die.

[derekseifert]

This has been added to my "Investing Basics" playlist that I share with all my friends who don't have time to find the best stuff.

[YN-otjk]

And that is why bitcoin is a commodity/asset and not a currency. It will never be a global currency but it can become store of value like real estate.

[zachrenaud]

Please who can recommend me to a professional trader ?

[cryptofactsu]

Switch the scenario and you'll see what bitcoiners will be doing.

Buy, Loan, Die.

You buy Bitcoin. You loan it for interest and live on the interest, you die and pass on the Bitcoin

[boardgamerants]

One of the best descriptions of why debt is so unusually profitable. Whether into Bitcoin or not, highly educational. Thank you!

[isaacbarrett]

I've been using Bitcoin profits to buy physical Gold and Silver.

[freeskier]

The thing is, in a sound money system, people don't need to borrow 30 year mortgages, because you can afford to buy your house outright, by saving your wages for 3-5years worth of average salary. Right now, the monetary system is exploiting people to work much more for their house, than the house is actually worth(labour+materials). Just look at how america was before the gold standard was abolished - compare wages to housing prices, and compare them now as well.

[farmersmith]

If things are denominated in BTC in the future, Bitcoin holders have already made themselves ridiculously rich.

[ChipsMcClive]

Even if everyone exclusively used BTC for currency, I guarantee debt-based exploits would be created. The same forces of evil that are breaking our current economy would not be inhibited at all.

[godhakzontelegram]

I met him 👆and I’m extremely happy investing my 3btc with him I’m grateful for my successful profit 😇🙏

[godhakzontelegram]

I met him 👆and I’m extremely happy investing my 3btc with him I’m grateful for my successful profit 😇🙏