Quote from: arallmuus on May 15, 2023, 11:51:10 PM

Quote from: mocacinno on May 15, 2023, 10:37:28 AM

When a bank gives you a loan of 300.000 euro's, they don't have to have 300.000 on their books... They can just create "virtual money" which they loan out to you. IIRC, the percentage is actually a little less than 10%. So, a bank can have 30.000 on it's books, and still give out a 300.000 loan AND get 279.000 in intrest. They don't double their money, they actually multiply their investment by a factor >9...

It's downright criminal, but it's legal... This is why we need to be our own bank... If you don't own 300.000, you shouldn't be allowed to loan out 300.000.

They actually need to have 300k in cash to you if someone needs to have their transaction in cash but if it is a transaction from an account to another account then all they need to do is just to type in that amount of money virtually. Yeah its borderline legal but thats how banks operate and they made money through that

This is a system that everyone have to live in and no one really question this system at all not until bitcoin was created to actually counter this all fiasco

I've never heard of this, it's so absurd. I used to take out a bank loan to build my business, and I have never missed a dime on my loan.
People are comparing banking to bitcoin, and I want to know if anyone here needs money, needs capital to start a business, and does anyone get any help from bitcoin? I mean, are we going to get a loan from bitcoin?

Honestly, there's no need to compare banking and bitcoin anytime, anywhere, as both have different use cases. We are going to use banking for some purposes, bitcoins for some, they are completely different, so let's stop comparing them in this case.