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Author Topic: Bitcoin Loans and Lending; The Weakness in The Bitcoin Economy  (Read 16572 times)
BBanzai
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August 07, 2011, 05:14:06 AM
 #121

I do understand how borrowing now with the expectation of earning more later from the loan than you will pay in interest is of value to both parties.  I really do.  The current Federal debt of $14.58 trillion when we only created new value (GDP) last year of $14.53 trillion dollars strongly suggests to me that this whole spend now what you have not yet earned model should be once again relegated to a last resort, not a standard business practice, and certainly not a model for a nation.  Or an individual.  Or a state.  All I'm sayin'.  As an aside, those that cater to the desperate on a small scale are mostly either charities or drug-dealers.  As above, so below.
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