I created a 6 minute youtube video to explain why I don't like bitcoin, but let me sum it up. I see the us dollar as a debt backed currency. Banks create money through loans, which are in turn backed by houses, cars, and people's incomes. Everybody seems to think the us dollar is a faith based, or something, but I don't see it that way. I see it as a fully backed currency, not too much different from being a gold backed currency. Where am I wrong?
https://www.youtube.com/watch?v=jujwQkhnoU8I am trying to find a way of connecting your thoughts.
I agree that the us dollar is fulled from debt as banks give loans to people that would buy houses, cars etc, and when people are not able to pay back their loans they take their houses, cars x2. But how is that connected with Bitcoin? Bitcoin has nothing to do with banks' activities.