RE: Vlog #89: One of the biggest things in life that I fear is debt.
I thought it was all over when we had some green yesterday but the downtrend is back again. One huge benefit I have had is that I've been able to scoop up some EOS at $0.80. I thought it would never drop below $1.50 but I guess if you are patient enough opportunities will arise.
I don't think I'll ever be able to buy a house in my life and I really don't want to get a mortgage. When you do get a mortgage it is true, someone hasn't really bought the house and it is on loan. I think with something as big as a mortgage comes huge financial pressures and it isn't a risk I'm willing to take.
Houses cost way too much in the UK so I'll probably be hopping around rented properties from the rest of my life which may cause some financial issues later on in my life but I won't have to fork hundreds of thousands of pounds (which I don't have) and give it to the banks.
Banks just creates it purely out of thin air and this system based on debt benefits no one expects for the banks and that is why they are so inclined to holding on to it rather than moving to something more distributed and equal such as bitcoin.
All this does is hurt us normal citizens as everything gets inflated in price and the value of fiat depreciates. It disgusts me how everything is based off debt and interest which really is unfair and we are like cattle being farmed.
At least people are waking up and realising how this is a terribly unjust system and we can start using crypto in the future where money is not created from a few numbers being generated. I think people are naive or are just purely trying to scaremonger when people say ' crypto is leading to all this criminal activity ' when regimes are being funded with USD.
Let's see if we will see this revolution in our lifetime but they may not be the case @exyle
You know, it isn't such a bad thing to rent for your whole life. Even if we "own" homes, we don't take them with us when we die, so is it that different from a rental that you can comfortably inhabit?
Of course, you can't pass on a rental to your kids... but you can pass on all that saved money, and they can buy or rent as they'd like. I'm with you, and @exyle, and everybody else in the thread espousing this idea - NO WAY, NO MORTGAGE!
bitter truth we dont take them with us when we die *
This is one of the reasons why I joined Steemit. It provided me with a good intro about cryptos, blockchain... And this has allowed me to buy other cryptos like ETH.
While the bank is taking its share for my loan, I am planning to repay them before time to not lose to interest.
But the sacrifice required is getting bigger day by day with that beast called inflation
I love how steemit is acting as a stepping stone for people into the cryptoworld
Inflation is constantly going to consume the world as we keep printing money and creating it out of thin air giving this false valuations
Ethereum coins are created also out of pure air. Pay attention. Ethereum is very similar to current paper nation currencies.
BITCOIN is debt free