Quote from: o_e_l_e_o on June 14, 2019, 02:01:25 PM

Quote from: stompix on June 14, 2019, 11:13:22 AM

And let's say after the bank has created this free 100$ out of thin air, I decide with that 100$ to come back and pay my debt in full. What happens to the money?
The bank erases your debt, takes back the money and everything is just as before you asked for a loan.

This is true, but not everyone pays off their debt. In the US, for example, consumer debt is now over $4 trillion, and increasing. Include mortgages in that figure, and household debt is over $13 trillion, and increasing.

People often get angry about government's printing new money to pay their debts or increase spending or whatever. The stats suggest governments only account for about 3% of the new money entering circulation. The other 97% comes from banks making loans.

Wait a minute....
If people would pay their debt back, there would no money printed out of thin air.

So the real ones to blame for this are not actually the backs but the people who take the money and don't pay them back? Grin

You realize this is a pretty strange thing to say, especially in this topic where we already labeled banks as the evil of the universe:P

Quote from: erikoy on June 17, 2019, 09:18:24 AM

It could be simplified if it will be done locally like bitcoin being partnered with a banks. As of now there are banks that has already accepted and integrated cryptocurrency and one of it that I know is the unionbank and is also been here in the Philippines. I never thought of this to happen but the unionbank has already stated that they are partnering the satoshi group.

Putting online two ATMs that convert fiat to bitcoin does not mean the bank is accepting bitcoin deposits or has "integrated" cryptocurrency.Also, who the hell is this "satoshi group" ?