Well, without debt I couldn’t get a home for me and my family, so I’m not sure debt is a bad idea. Not repaying it or taking on debt that is beyond my means of repaying it is probably a very bad idea. Loaning at interest was/is also considered immoral (https://www.openbible.info/topics/usury)… Unfortunately we’ve moved way past that boundary today, along with many others. And yet again we find out that certain things, the more they “change” the more they stay the same… I think it’s an old French proverb.
Borrowing money is fine but with “debt based money” the asset classes of homes have been inflated of outstripped your wages i.e. houses used to cost $10k …have we gotten more efficient or less efficient in building houses? This is a form of financial repression. Loaning at interest is fine but loaning out debt based money at interest is not fine. Loans should have interest if the loan is on honest money and interest is a necessary function of a working market. For example, QE is essentially immoral because it parses out 0 interest loans which favor people politically close to the spigot of debt based money and with those inputs the outputs overtime can only be increased wealth disparity as the consolidation of assets and wealth creation vehicles pool at the top. Or in other words, a guy that can borrow money at 0% will always accumulate assets faster than guys that borrow at 3-5%…the normal credit card apr is hovering around 19%. So with the top classes pooling both wealth and wealth creation vehicles and everyone else hovering with debt while automation, AI, & robots replaced our labor which is increasing with entitlements…it is clear that inputs of a debt based monetary system will deliver the outputs of have’s and have not’s.
More on interest rates …" A positive interest rate is ESSENTIAL. What is immoral, and what actually constitutes the lion’s share of USURY, is UNSECURED lending with no collateral against it. Well, actually there IS collateral against an unsecured loan: the future LIFE and productive capacity of the borrower. THAT is usury. All Central Bank money printing is therefore USURIOUS because, as we discussed above, it is simply the leveraging of the lives of the people, both present AND future, who comprise the sovereign entity that backs the money of said nationstate. In other words: YOU and your descendants for multiple generations hence." - Anne Barnhardt
Better start living below your means then and increase capital however you know 
, so you don’t remain an indentured servant for life. And give to God.
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This discussion reminded me of This epic song. I agree that it’s time for a paradigm shift.
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Sure is. Cardano is a pioneer and they will, God willing, propel us into a better future.
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Haunting song. Yes this iron sky of our mind blinds us and this body binds us to this physical realm. Machine minds with machine hearts. I agree all that we need is within ourselves. I posit though that without forgiveness not one person can get past the iron sky of our minds…our own subjective reality…delusion.
“The mind creates the abyss, and the heart crosses it.” - Sri Nisargadatta
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Living below your means and having an abundant mindset is of course the way to go. Love is the way to go…and what better example of love than the cross.
I know, isn’t it? Being rend limb to limb and forgiving those who do it… Talk about the ideal of perfect unconditional love.
That’s such a nice quote. I’ve found my mind is very useful for mechanical things…like driving, eating, doing math, programming, reading… but once you’ve satisfied the flesh (which includes the mind), and you still feel a craving for ‘something more’, it’s time to cross that abyss. I just - without offending anyone - couldn’t cross without some…divine… assistance .
@elmagnoon I agree with you. I’ve posed questions before about equating proportional rises in MarketCap to Price and some people always respond, “Market Cap isn’t reliable or accurate for xyz reasons…” but then I ask them “Well what is it good for? Should we ignore it completely? Why does it still seem there is this direct correlation?” and no one ever has a solid answer! So it leaves me lost every time. For now i’l roughly keep looking at it as you do.
To understand money/ currency and its history I’d recommend Mike Maloney https://goldsilver.com/hidden-secrets/
Takes some time to go through the series, but it’s very informative (and for me an eye-opener)
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Something to add! in fact the place of the fractions/denominator do play a role in price fromation : 100 ada are worth 1 btc considering the value of btc ada da as cryptocurrency is the same! The difference of 0 after the dot!
Hi Abu, I don’t think it will reach 10K soon, it will take it’s time.
check speculation on future outcomes in alternate coins here Alternate coin Updates and announcements
Dont forget that cardano project is aiming to a 3 billion people market that lives in the shadows, there are no numbers for that, we dont know those
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I found this actual video following your link:
https://goldsilver.com/hidden-secrets/hidden-secrets-of-money-episode-8/
this seems to be a summary about cryptocurrencies.
Cardano will price not over 1$ at 2018.
Why?
Because no marketing.
Future ADA coin will great result.
But not expect price.
Yes, this is the last video in a series of videos that goes into what is money, currency, how is it ‘made’ etc. Cryptocurrency is one of the alternatives to (kind of getting) out of the current financial system, which is unlikely to stand for much more time the way things stand. The whole series is very interesting to go through, and while there is a certain ‘bias’ toward precious metals it is good info. I recommend to go through the entire series of videos as there are many elements you don’t hear about.
It is the only stack that is aiming to take over national currencies out of the box. It is a staggering endeavor.
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Thank you. Seems really interesting.