Post
Topic
Board Bitcoin Discussion
Re: Bitcoin makes banks unnecessary
by
hodap
on 12/05/2015, 04:22:28 UTC
Bitcoin cannot provide loans.

Lets say all ~21million the BTC have been mined by Bob.

Alice wants to purchase a house for 21million BTC.

Bob lends the 21million BTC at 5% PA for 25years.

How is the interest paid?


Price is a function of supply and demand. If there is only 21M btc in circulation, a house can't worth 21M BTC.