Re: Bitcoin Loans?
Today at 11:04:34 AM
Reply with quote #25
Quote from: reg on Today at 10:57:12 AM
I am wondering something here.. Am I the first person to use my own BTC debt to take on a second debt?? I used BIB.goat Bonds (my debt) as collateral for a second loan?
no, the EU is currently arranging an increase of a loan fund from 440 billion to about 1 trillion to cover debts incured by greece Italy and others. The main debt holders are France Belgium and others in the EU- the debt is secured on the collateral of the EU nations ie themselves including ermmm.. greece Italy spain Portugal Ireland France Germany Belgium etc need I go on? reg
I said my own BTC debt. Debt in the form of BTC.... Does the EU use BTC? If so w00tn33sinthep00tn3ss but i doubt it.
If money is money and BTC is money then debt is debt. A BTC loan is in principle the same as a fiat money loan and the same problems apply ie how do I ensure my loan is repaid. The same sort of guarantees are sought but more difficult in an anonymous system. We can only hope BTC are not deemed money (in the French courts) as they( cyberspace strings of random numbers) do not exist in reality. Then you can have what I believe is the real value of BTC the transfer anonamously of agreed value between two individuals without the control and influence of a large organisation. reg.