Forum Post: Peer to peer banking and bitcoin
Posted 13 years ago on Oct. 16, 2011, 6:18 a.m. EST by Xenus
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To most of us it is obvious that the financial and banking system should change. However a while ago I also read about peer-to-peer banking and bitcoin. With peer-to-peer banking you directly loan money to people cutting out a bank in between. Meaning you take more direct risk but also can get more loan. Bitcoin is an internet coin (based on peer to peer) which is an alternative for currencies such as dollar and euro. It is not officialy recognized and as far as i know there is not a lot of economy for it. But the inflation of the money can't be controlled by an authority. Meaning money can't be printed out of air. I think peer-to-peer banking can help reducing the influence of banks. And that bitcoin when reaching a critical mass of people using it can be an alternative to the money printing of currencies by governments and a more moder alternative to linking currency to gold. Maybe the occupation movement should become more aware of such alternatives.
What do you guys think?
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