Bitcoin Forum
December 07, 2016, 06:31:08 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: The Daily Bitcoin 4/9/11  (Read 1147 times)
Akarbb
Member
**
Offline Offline

Activity: 84


View Profile WWW
April 10, 2011, 06:29:31 AM
 #1

http://thedailybitcoin.blogspot.com/2011/04/to-answer-question.html

Only because I keep seeing it. 

Note: if I got some of the reasons wrong, I got my information from the various forums so feel free to correct me or add more information.

Feel free to send a coin or two my way: 1MBruH4RuU4aZGb7kUHXC1EmKxerzCrwpv
Check out my my blog, The Daily Bitcoin
Follow me @thedailybitcoin on Twitter for updates
1481135468
Hero Member
*
Offline Offline

Posts: 1481135468

View Profile Personal Message (Offline)

Ignore
1481135468
Reply with quote  #2

1481135468
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481135468
Hero Member
*
Offline Offline

Posts: 1481135468

View Profile Personal Message (Offline)

Ignore
1481135468
Reply with quote  #2

1481135468
Report to moderator
1481135468
Hero Member
*
Offline Offline

Posts: 1481135468

View Profile Personal Message (Offline)

Ignore
1481135468
Reply with quote  #2

1481135468
Report to moderator
kiba
Legendary
*
Offline Offline

Activity: 980


View Profile
April 10, 2011, 06:42:28 AM
 #2

That's fractional reserve banking.

Akarbb
Member
**
Offline Offline

Activity: 84


View Profile WWW
April 10, 2011, 06:47:38 AM
 #3

That's fractional reserve banking.

Agreed, and that's how nearly all modern banks operate.

Feel free to send a coin or two my way: 1MBruH4RuU4aZGb7kUHXC1EmKxerzCrwpv
Check out my my blog, The Daily Bitcoin
Follow me @thedailybitcoin on Twitter for updates
tomcollins
Full Member
***
Offline Offline

Activity: 182


View Profile
April 10, 2011, 01:51:15 PM
 #4

That's fractional reserve banking.

Not necessarily.  There is such a thing as time deposits.
FooDSt4mP
Full Member
***
Offline Offline

Activity: 182


View Profile
April 10, 2011, 02:38:36 PM
 #5

That's fractional reserve banking.

Not necessarily.  There is such a thing as time deposits.

Barely:
Quote
Basic Certificate Rates


Minimum Balance Requirement: $500

3-5 Month APY: .25% Dividend Rate: .25%
6-11 Month APY: .25% Dividend Rate: .25%
12 Month APY: .50% Dividend Rate: .50%

Basic Certificate Rates


Minimum Balance Requirement: $1,500

15 Month APY: .75% Dividend Rate: .75%
24 Month APY: .75% Dividend Rate: .75%
48 Month APY: 1.50% Dividend Rate: 1.49%
60 Month APY: 1.75% Dividend Rate: 1.74%

Not exactly out pacing inflation.

As we slide down the banister of life, this is just another splinter in our ass.
tomcollins
Full Member
***
Offline Offline

Activity: 182


View Profile
April 10, 2011, 03:15:09 PM
 #6

That's fractional reserve banking.

Not necessarily.  There is such a thing as time deposits.

Barely:
Quote
Basic Certificate Rates


Minimum Balance Requirement: $500

3-5 Month APY: .25% Dividend Rate: .25%
6-11 Month APY: .25% Dividend Rate: .25%
12 Month APY: .50% Dividend Rate: .50%

Basic Certificate Rates


Minimum Balance Requirement: $1,500

15 Month APY: .75% Dividend Rate: .75%
24 Month APY: .75% Dividend Rate: .75%
48 Month APY: 1.50% Dividend Rate: 1.49%
60 Month APY: 1.75% Dividend Rate: 1.74%

Not exactly out pacing inflation.

What does outpacing inflation have to do with anything?  Yes, it's hard to outpace inflation when other people get to print money for free.  I'm talking about BTC though.
FooDSt4mP
Full Member
***
Offline Offline

Activity: 182


View Profile
April 10, 2011, 03:30:58 PM
 #7

That's fractional reserve banking.

Not necessarily.  There is such a thing as time deposits.

Barely:
Quote
Basic Certificate Rates


Minimum Balance Requirement: $500

3-5 Month APY: .25% Dividend Rate: .25%
6-11 Month APY: .25% Dividend Rate: .25%
12 Month APY: .50% Dividend Rate: .50%

Basic Certificate Rates


Minimum Balance Requirement: $1,500

15 Month APY: .75% Dividend Rate: .75%
24 Month APY: .75% Dividend Rate: .75%
48 Month APY: 1.50% Dividend Rate: 1.49%
60 Month APY: 1.75% Dividend Rate: 1.74%

Not exactly out pacing inflation.

What does outpacing inflation have to do with anything?  Yes, it's hard to outpace inflation when other people get to print money for free.  I'm talking about BTC though.

Sorry, I mistook your comment as pointing out another function of the existing banking system.  I took your "not necessarily" as referring to the previous comment about fractional reserve banking.  A time deposit will have the same problems as loans in the BTC economy.  It really is the same thing, just from the lender's point of view.  Basically, it we want to participate in loans, we have to abandon anonymity.  That's not that big an issue to most people, so I think we will see this kind of banking begin to happen as the economy grows.

As we slide down the banister of life, this is just another splinter in our ass.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!