GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Surprised no one has figured out Bitcoins yet

onwebcam · 04-11-2013, 11:05 PM

Somewhat correct. Banks take in deposits and lend out to even the depositor. When you write a check you are taking out a loan. When you use your card you are taking out a loan, in their eyes. All deposits are kept in reserves and banks lend out 10x++++ that amount. Some are leverage out xxx times reserves. Only cash withdrawals are deducted from reserves.

Bitcoin in a way is what banks should be doing which is why it is attractive to some. IE. 100% reserves. Banks could live off of fees only they don't want to and as long as the public allows them to manipulate them they will continue to build and buy the biggest building in town and gamble away on risky investments on their deposits. And when the time comes to pay the bill on their risky investments they'll just stick it to you even more.

Bitcoin isn't the answer but the ideology behind it is. Unfortunately bitcoin could set the ideology back many years.

04-11-2013, 11:05 PM
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,653	Somewhat correct. Banks take in deposits and lend out to even the depositor. When you write a check you are taking out a loan. When you use your card you are taking out a loan, in their eyes. All deposits are kept in reserves and banks lend out 10x++++ that amount. Some are leverage out xxx times reserves. Only cash withdrawals are deducted from reserves. Bitcoin in a way is what banks should be doing which is why it is attractive to some. IE. 100% reserves. Banks could live off of fees only they don't want to and as long as the public allows them to manipulate them they will continue to build and buy the biggest building in town and gamble away on risky investments on their deposits. And when the time comes to pay the bill on their risky investments they'll just stick it to you even more. Bitcoin isn't the answer but the ideology behind it is. Unfortunately bitcoin could set the ideology back many years. __________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete. Last edited by onwebcam; 04-11-2013 at 11:19 PM..