I do not think debt will be a problem in the case of Bitcoin. Limitedness will not cause the real value of debt to increase because more money cant be created "as banks do."
Bitcoin has problems, these problems are not only technical, but I do not expect to stabilize as happens to gold, which leads to a weak economic system built on those currencies.
I tend to a scenario that currencies can be mined according to "no maximum number" restrictions, leading to stability and non-fluctuating prices.
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Bitcoin has problems, these problems are not only technical, but I do not expect to stabilize as happens to gold, which leads to a weak economic system built on those currencies.
I tend to a scenario that currencies can be mined according to "no maximum number" restrictions, leading to stability and non-fluctuating prices.
thanks for sharing that URL.
Debt will only become a problem for bitcoin if knaves like MasterCard are allowed to create a bitcoin payment system with fractional reserve access to the currency. This would basically allow them to issue credit cards that the users can spend with, and MasterCard will only need to hold %10 of the total bitcoins being spent at any given time. The rest of it will be "debt" or bitcoin created out of thin air.
How on earth can a limited asset be lent out when there is none available? Well, that's exactly the problem that bitcoin tried to solve. Now they want to use it for themselves.