Young Master Smeet
Young Master Smeet wrote:
Looks like it's bunkum: I can't see why using a public block chain would necessarily circumvent banks or put frational lending out of business, they could still register your loan/savings on an account, and only issue such block-chain coins as they can get their hands on. I can write an IOU on the back of a fag packet, they creates circulating money (as long as people are willing to accept the fag packet). Doesn't matter about block chains or paper money…
your IOU fag packet isn't limited supply though and doesn't have $1bn market cap. Not saying I agree with them but this would be their response.