[lebean]

It's a feature! You see, it incentivizes spending, speculation, and investing, which are the only important economic activities, and punishes savers, which are miserly cash-hoarders who selfishly want to save for retirement without having to gamble.

[lisper]

Yes, that's exactly right.

BTW, you apparently don't understand what "saving" actually is. There are two kinds of saving. You can save by putting cash under your mattress, or you can save by putting money in the bank. These operate in fundamentally different ways. When you put money in the bank, it gets loaned out so that people can use it for productive activities. When you put it under the mattress it just sits there. It's very hard to lend bitcoin because there is no way to record a bitcoin transaction as a debt in the blockchain. All bitcoin transactions are structured as cash payments. So "saving" bitcoin is necessarily under-the-mattress type savings rather than in-the-bank type savings. This is one of the fundamental limitations of bitcoin, and one of the many reasons why it cannot be a currency, only a commodity.

[woleium]

there are plenty of ways to lend crypto now, many use etherium

[lisper]

Sure. But I was talking specifically about bitcoin, not crypto in general.

[woleium]

You can lend bitcoin on etherium using erc20 defi platforms

https://milkroad.com/lend/btc/#:~:text=In%20DeFi%20BTC%20len....

[lisper]

Sure, but to lend your bitcoin you have to transfer it to a lending platform, which is to say, to a trusted third party (TTP). The whole point of bitcoin is supposed to be that it does not rely on a TTP. If you're going to trust a TTP to administer your loan, you might as well trust them to keep the ledger too. As soon as you lend your bitcoin you lose all of its purported advantages, including inflation protection. All you're left with is a ridiculously high electric bill.

[woleium]

that’s not true, you can lend over defi using erc20 contracts