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You have to think how that process started. Tim had to give something to Josy for Josy to have debt. If Tim is only working with bitmoney then no new money ente
by kuratkull 5y ago
You have to think how that process started. Tim had to give something to Josy for Josy to have debt. If Tim is only working with bitmoney then no new money entered the scheme.
If Tim sold some of his bitmoney to lend to Josy, and then josy bought it back, then no new money entered the scheme.
- ArtTimeInvestor 5y agoTim is a web designer. He made a website for Josy. Now Josy needs to pay him ₿0.01 That is what gives Bitcoin value. That Josy needs it to pay Tim.
- kuratkull 5y agoTim needs to spend real world money to be able to sustain his web development - so he has to sell his bitmoney.
- ArtTimeInvestor 5y agoMaybe. Still this constellation creates demand for Bitcoin. And demand creates value.