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0 sats \ 9 replies \ @DarthCoin 6 Dec \ parent \ on: A World Without Money bitcoin
I am just presenting what ECB says.
When you go to a commercial bank to sign a mortgage contract, they do not have those money. Once you sign, they present that contract to a central bank and they get some numbers in their balance sheet. That's all. Fake numbers.
So you literally create money with your signature.
So why would you trust the ECB's propaganda, instead of a free banker like G. Selgin?
Those guys spout red herrings all day on what causes inflation.
Read the article and ask questions if anything is unclear.
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o why would you trust the ECB's propaganda, instead of a free banker like G. Selgin?
Do I said that? I presented only what says ECB about creating money. That's all.
I read the article, but some parts are quite confusing.
And I said: "You cannot spend any sat if you do not have it." And yes, that means credit. You credit yourself.
And I will add: loans in a Bitcoin world will not gonna work like in fiat world. See the 2 videos I posted. Even if a bank will want to lend sats, will not have enough, they must provide reserves, otherwise nobody will use them.
People will simply spend only the sats they have and work hard to earn more.
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If you are confused, as you say, the need is to clarify. So, let's skip ECB propaganda.
Your sat comment is off topic, as the article does not talk about sats.
The comment about loans is off topic, as the article does not talk about loans.
The beginning of the article explicitly clarifies that the topic is different:
"What we get at the bank is a loan. Credit – in the original sense – is something we have: a personal quality. Having credit used to mean ..."
So, there is no need for you to post videos about loans, as that is another topic altogether.
You may wish to read again. I am always willing to clarify any questions on topic.
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as the article does not talk about sats.
- why did you post it into Bitcoin?
- the article is mentioning Bitcoin (sats).
there is no need for you to post videos about loans,
Is very well related if you want people to understand what you want to say in the article
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Q: Why did you post it into Bitcoin?
A: Because there is confusion in Bitcoin that Bitcoin must remain SoV. Very few have awareness that the MoE part works in a different manner, that it is a different layer altogether and quite dispatched from base money.
Claim: [Loan topic] "is very well related"
A: It is not related.
Loans concern the lending of sats against interest.
'Real credit' in trade concerns the two halves of an exchange, displaced in time.
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Because there is confusion in Bitcoin that Bitcoin must remain SoV. Very few have awareness that the MoE part works in a different manner
That nobody here deny it.
Posting additional info as comments doesn't affect in any way your article.
Again, idk why you are so pissed off about the comment about ECB. Is very well important to be mentioned so clueless noobs will make the connections.
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I am not 'pissed off' about your parroting ECB propaganda. It's more a disappointment because people always seem to trust central banks.
I call out the ECB's nonsense wherever it is amplified.
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I bet that 99,9% of stackers here on SN don't even knew about what ECB says about money...