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RE: Debt is a Derivative of Collateral

in LeoFinancelast month

The thing that makes crypto very interesting is that it is collateral at the core. When Bitcoin gets minted it is owed back to no one. Same with Hive and most other cryptocurrencies. In fact, even HBD is this way. HBD is owed back to no one whereas USD is owed back to the bank with interest. This is a huge difference that we have yet to fully understand and capitalize on.

With crypto we can have the best of both worlds. "Money" NOT issued as debt and also potentially NOT issued by a corrupt entity.

I recently watched an old school documentary called the Money Masters which was done back in the mid 90s. It's a good historical account of how debt money came about.

The more interesting thing though was that there have been several periods in recent history where governments have issued debt free currency directly, instead of through the private central bank system. Still a promise to pay but with many less levels of BS.