4 ms·
That's an interesting point. Unlike dollars, made money doesn't sit in a bank, to be loaned to lenders creating a profit for the bank, part of which gets paid a
by bluetwo 9y ago
That's an interesting point. Unlike dollars, made money doesn't sit in a bank, to be loaned to lenders creating a profit for the bank, part of which gets paid as interest. This drives economic expansion.
I don't even know how you would do something like that with bitcoin.
- fhood 9y agoIt could though, if places like Coinbase decided to transition into a banking role. The issue with Bitcoin in my mind is that people now view it as more of an investment than a currency.
- bluetwo 9y agoBut a loan is an enforceable contact. You would have to marry the loan somehow with something that would give it teeth. This is an interesting problem.
- maxerickson 9y agoSame as with a bank. Transfer some bitcoin to someone and then pursue them when they don't transfer enough back. Charge interest to cover the risk.
- bluetwo 9y agoBanks work in a legal and regulatory environment which bitcoin lacks. That's the problem, there are a lot of details that would have to be worked out to make that happen.
- maxerickson 9y agoBitcoin operates in exactly the same legal environment as banks. I agree that the regulatory environment is different.