The thing about loans, that is borrowed capital that you use to try and create more capital, is that there isn't enough capital to go around. Capitalism does depend on a certain percentages of businesses failing, and that debt being written off.<p>You also can't make loans with BTC because debt needs to be enforceable. There must be violence behind debt. In the past that meant someone turns you into a slave or breaks your legs. Today the violence has been reduced (you get bad credit score and debt collectors keep calling), but it's still there. States have to have a monopoly on violence to enforce debt.<p>I don't really agree with where this guy is going, because the entire way loans are used to generate fiat currency isn't really sustainable. David Graeber has talked a lot about every great civilization has needed some form of debt relief at some point, either when a new leader comes in or when the civilization collapses.<p>People in the ancient world knew the empires they lived under would eventually end. Today in many high income countries, most people cannot see the end.