Quote from: Funkypala on June 26, 2011, 10:54:47 AM

But now one of my friends said, that with Bitcoins its still possible to have a system of banks, that own a lot of Bitcoins and lend them to people for interest rates.

Would you rather have 1 BTC today or 1 BTC tomorrow? Of course, you'd rather have one today. Because with one today, you can either spend one today or have one tomorrow. So if a bank wants 1 BTC from me today, it had better give me more than 1 BTC tomorrow. Otherwise, I'm giving up my opportunity to spend 1 BTC today for nothing. That's wasted value.

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There are thousand Bitcoins available. They all belong to the bank, and they lend 500 to a person for 10% of interest. Now the person has to give 550 Bitcoins back. But since the bank still has 500 BTC and he has the other 500 BTC those 50 BTC don t exist. He can t give 50BTC back and without pressing money they will never be there.
But what if he says to the bank, that he can pay the 50 BTC in another trading good like gold or cows or giving the bank owner a massage (service).

Wouldn t this still be as evil as the system we have right now?

There are so many false premises involved in this argument that I have no idea where to start.