Reposted from @cryptocollective - Our individual debt has been and is becoming more unsustainable ever year. The root cause is how debt is given out through the central bank. Instead of giving the money directly to people to pay off their debt, or invest in education, jobs, etc. so they can pay off their debt, it's given directly to lenders to profit off the poor and middle class in order to create more debt. People take out loans that they can't pay back and banks happily dole it out, because of the herd mentality. It’s becoming more and more obvious that we are in a catastrophic bubble that will eventually collapse around 2020 - 2023 because banks will be demanding back the money they loaned out, and people won't be able to pay it back. This is no secret.
If we’re able to transition into an equity based economy, debt will flow more smoothly, in a P2P, decentralized manner. Ownership will thrive. Everyone will be more interconnected and have a small piece of a bigger pie. We will all have an incentive to not see the other person fail, because if they fail, we fail. Debt will be contained so that when one domino falls, the others won't fall with it. Using smart contracts and tokenized assets opens a whole new world of financial and technological possibility. Inefficient middlemen can be removed making assets more fairly valued. Better supply and demand feedback will create a more efficient market, benefiting everyone.
Example: imagine a home was like a public company that issued shares. Instead of purchasing the entire home at once, you could buy a few shares in the home (e.g. 1% of the home). Now separate the concept of ownership and rent. Owning 1% of a home means you're entitled to 1% of the rent, kind of like a dividend. Each month the tenant (can be you) would pay rent and it would be distributed to the owners. There's no bank or loan required. No interest being syphoned off unnecessarily. You're slowly buying the place you're living in, so your rent will go down over time.
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#bitcoin #endthefed #bullmarket #bitcoinmemes #cryptonews #crypto #hodl #coinbase #cryptotrading #rothschilds #cryptomemes #cryptocurrency - 2 hours ago