Post
Topic
Board Bitcoin Discussion
Re: Bitcoins interest rates possible?
by
relative
on 26/06/2011, 12:28:01 UTC
Is it evil to rent a house?
Is it evil to rent a car?
...
Is it evil to rent a sum of money?

Is it evil to rent a sum of money?  In my opinion, absolutely!  Because interest to be paid on your loan, in simplistic terms, doesn't exist.  You must pay back the original principal + interest.  The interest portion doesn't exist and cannot be created out of thin air.
so profit doesn't exist either, eh?

jeez...a bunch of economic illiterates trying to run a currency.

work for  a car company. take out a loan from them to buy a car from them. earn part of their profits for your work in the future and pay back the loan with interest

everything "existed" and nothing is created out of thin air. as simple as this is, the real world works the same there are just more intermediary steps.


if bitcoin will ever be widely accepted, there automatically will banking, there will even be fractional reserve banking, there will be interest.