Post
Topic
Board Economics
Re: What about adding debt support in Bitcoin ?
by
Maegfaer
on 02/02/2015, 08:32:10 UTC
Actually, there is even more debt than there is money supply at a given time.

And you don't believe that that is a bad thing? Debt is ever rising faster than credit in the current monetary system, and it would happen to Bitcoin as well. Usury and debt-money are at the core of the world's economic problems. The savings of the common populace are in peril due to fractional reserve banking, just a few economic shocks, some panic, a bank run, and most people can wave goodbye to their hard earned savings.

What the world needs is a move away from such a system. Debt money and fractional reserve banking should become exceptions rather than the status quo. The common people should have most of their money savings in secure storage, backed by a 100% positive balance, not dependent on someone else's ability to pay their negative balance.