If you are laying the bike on its side, make sure the chain side faces up. Choose the position with which you feel the most comfortable. If you are replacing the back tire, then it’s important ...
In fact, the first chain-driven bicycle was invented all the way back ... Once a belt is damaged, chances are you’ll need to ditch it and replace it entirely – not exactly fun if this happens ...
This friction generates heat, stretching your chain, meaning you’ll be replacing it sooner. A stretched chain also wears out sprockets sooner. Long story short, an un-lubed chain costs you money.