Quote from: odolvlobo on February 10, 2017, 07:29:03 AM

Quote from: w00t on February 10, 2017, 04:23:30 AM

Quote from: odolvlobo on February 09, 2017, 11:53:55 PM

Quote from: w00t on February 09, 2017, 10:53:11 PM

Hi,
I was wondering, did anyone of you ever thought about that if there were only sound money in place such as (BTC, Gold,...) all consumer credit is gone

Why couldn't someone borrow bitcoins?

The easy credit is currently based on money borrowed that they don't have. If Bitcoin is in place and then the actual Bitcoins would have to change hands the interest rate won't be what is it today but at least double.

So then you don't actually believe that "all consumer credit is gone", it would just be more expensive like it was 20 years ago.

Also, there is no reason why there couldn't be fractional reserve banking with Bitcoin. I think it is inevitable.

right but if there is fraction reserve banking with Bitcoin why not stay with the current system? There is no change, no progress.