And then when depositors withdrew the money proper, bye-bye bank.
Nobody would trust a Fiat note backed by BTC. Nobody would accept the debt money.
This is simple lending. :) John lends to charlie then charlie lends to bob. 1 BTC has created 2 BTC's worth of Debt Contracts that need to be paid on time. This is Debt money.
And then when depositors withdrew the money proper, bye-bye bank.
Banker understand this. The single BTC can be re-loaned multiple times. John to charlie to mike then frank. 1 BTC passed hands in the loan but created 3 BTCs worth of Debt.
Banks would have to print notes (which no one would trust) that say they are worth one BTC.
And if a depositor at the bank tried to withdraw the one BTC, the bank would be insolvent.
Banks don't like comodities. It restricts their liberal credit practices.
People always account for financial profit but often times forget about psychic profit.
You can check out their Dev portal here:
I'm interested in understanding how they drive adoption. This should be on everyone's mind basically.
You can check out their Dev portal here:
I'm interested in understanding how they drive adoption. This should be on everyone's mind basically.
Personally, I got interested in the project after hearing many consecutive partnerships with reputable companies such as Bosche. I imagine many others got invovled this way.
How did they build their communities?
I have to admit that I'm not quite certain. I got into the project a little later than many other investors.
Tell me more about IOTA? Im not familiar.
Instead of processing TXs over the distributed tangle, all TXs currently go through a central Coordinator for processing. IOTA won't be decentralized until this Coordinator is removed.
Remember that a borderwall can also be used to keep you in.
Well, a lot of these projects work this way. Centralized at first to decentralize later.
What steps does EOS plan to take in order to become decentralized? I know that, for example, IOTA is preparing to remove the Coordinator. I don't know what is required of EOS.
Can we entertain ourselves and talk about EOS for a second? Need an open thread. What does everyone think about the way their communities are built, super nodes etc?
Incredibly centralized. A good rule of thumb; don't invest in a crypto that requires you to pay to open a wallet.
The attraction of Socialism.
Historically, any attempts at anarcho-communism required forced inclusivity, such as what happened in Spain, so idk.
I bet you wish you worked in Venezuela right now (accidentally hit send mid-typing).
There have been no previous Ancap societies. We have gotten an understanding of the benefits of free markets, however. Anarcho-capitalism is a relatively modern idea. (Sry, got cut off)
of free markets, however. Anarcho-capitalism is a relatively modern ideology.
Post daring (or not so daring) attempts at counter-economics.
Well, as Samson Mow put it, BTC isn't for people who make less than two dollars a day. And as I believe Luke-Jr put it, "Just use fiat."
