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Some bitcoin advocates think that blockchain-based financial products will somehow provide credit while solving the problem of systemic risk, which doesn't seem
by s17n 9y ago
Some bitcoin advocates think that blockchain-based financial products will somehow provide credit while solving the problem of systemic risk, which doesn't seem possible to me.
Others think that credit is just a scam and the main utility of banks is storing money and processing transactions, which is absurd. (In this scenario bitcoin takes over these functions and the financial system is no longer necessary.)
Does your view fall into one of these categories?
- maxnevermind 9y ago"Others think that credit is just a scam ... which is absurd" I understand that companies probably can't leave without it but I as an individual never took any loans in my entire life and not planning to get one. I don't like the idea and I see as it can get peoples life miserable, you constantly see people whining about paying the mortgage and credits even here because they basically chose, thanks to loans, the lifestyle they can't afford and because of how the whole thing works they can't easily get out of it.