Quote from: azguard on October 03, 2017, 04:38:01 PM

Quote from: d@nte on October 03, 2017, 02:23:57 PM

Yeah, some people do not understand the state that things can get when this credit bubble burst. Governments are already even thinking about a cashless society, think how crazy this can be.

Technically we are in cashless society in some way, usage of plactic card is all day need for almost everywhere, not to mentioned that everyday we see many transfers from one country to another. So this problems is mainly solved.

For bitcoin to be virtual currency this could be great idea. He has everything settled and running no need to be in some preparation, maybe that why they dont like it, cuz they can control it, i mean on governments.

Well, actually there is a problem being created, because there is something called "fractional-reserve banking", which allows banks to create money out of thin air.

This has been happening for a long time, and that means that most of the money that banks say their customers own does not actually exist in their safes. Now think about it... imagine when someday a large number of people decide to cash out their money from the banks and they see there is nothing there. It will be a chaos.