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Are markets without banks capitalist?
Easton Hill
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Isaiah Watson
Banks are fine. Jews are not. It really is this simple
Brody Reed
bank had a purpose before crypto to safely and conveniently store and transfer wealth. that's gone now pretty much.
the other purpose of bank is to lend to help investment and structure risk and collateralize in real world assets of which crypto is of little to no help of for now.
Nathan Davis
There is nothing inherently wrong with debt. If you lend me money and I use it productively and make all my payments, we are both better off and everyone is happy. When risk is mismanaged and the debt can't be payed, then that borrowed money was actually imaginary
Elijah Hughes
Stop blaming your own mistakes on jews.
Benjamin Morris
Banks would be fine but both Adam Smith and Karl Marx knew credit and rent would destroy capitalism from within.
Nolan Gomez
free market anarchism, look it up
Asher Baker
Capitalism will never die. Deal with it.
Jason Lee
capitalism only even still exists because it is endlessly propped up by the state and the peasants are kept from revolting with government welfare programs and handouts
James Thomas
Fractional reserve banking was always a scam. Plebs would lend their gold to a bank for a return on interest. You could technically withdraw all of your gold. But not practically.
If enough plebs tried to withdraw in the full amount at once, you'd get a bank note for your gold that you could retrieve on the other side of the continent. You could get on your horse, travel through bandit country and maybe a warzone, maybe lose a horse or family member along the way, just to get where the reserves were held. Or you can play along and spend the IOU, like every thing's fine.
After the industrial revolution, travel became easier, but feeding the ponzi became a bit more difficult. Every nation that had a gold backed currency failed in less than a century. America even started confiscating privately owned gold bullion to keep the scam going.
Thank god the sham finally came to an end. Sure, 1 GBP is worth chicken tenders on the kids menu, not a pound of sterling silver. But now that we can admit we have a problem, we can at least hedge with precious metals. Unfortunately precious metals can't be transmitted digitally. That's the one thing banks really did need banks for.
Bitcoin was invented to be a p2p digital currency. Great idea. 1 BTC=1 BTC, no ifs ands or buts.
With smart contract platforms like ethereum, you can make loans on a peer to peer basis or invest in businesses for a share in ownership.
Wyatt Morris
>propped up by the state
>peasants are kept from revolting due to handouts
Hmm...
Matthew Price
>With smart contract platforms like ethereum, you can make loans on a peer to peer basis or invest in businesses for a share in ownership.
like i said no help with real world assets
Xavier Allen
Capitalism existed before the welfare state and it will exist after it.
To work I go, goodbye.
Parker Murphy
yes it did and it reached a point where it was was creating so much inequality and resentment that the state had to step in to make sure people at the bottom weren't being turned into onions green
in america this was the New Deal, it basically saved capitalism, but it can't be propped up forever
Brody Hernandez
Think outside the box a little and it ain't that to find real world solutions. One example is NFTs.
Each one could be used as a key to a room or a car.
Wanna rent a room? Send $ to a contract that will give you a key with an expiration contract and top it up if you wanna stay longer.
I can roll out a parade of examples of how real world assets can merge with digital assets, when the tech eventually matures, when custom automated payment solutions are ready for primetime.
Benjamin Morales
you are an idiot if you think smart contracts can enforce real world obligations at which point crypto becomes a technicality not a solution.
Henry Martinez
>you are an idiot
Robert Campbell
yeah rent out your car via smart contracts, you either have to ask it's value as collateral at which point nobody gonna rent it, or you gonna have a nigga disable the gps put it on a truck and sell it for parts. same with the apartment, nigga gonna disable your smart door install a padlock and you can call the cops and shit and they will be like the nigga showed us his lease that had your signature on it, which you will have to prove in court is not actually your left hand. gonna take a few years. crypto doesn't help you with any of that. once you have to fall back to the legal system a centralized service does as good job (or better) than any crypto bullshit.
Adrian Mitchell
Yes. There is the good house of Medici, and the bad Rothschild.
A christian or japanese loanshark is good, but a jew one, bad.
National socialist loansharks are the best. It's even like you don't even feel the interest rate you have to pay.
en.wikipedia.org
Problem is, let's assume you're not too stupid to understand, you're probably too lazy anyway.
>in america this was the New Deal, it basically saved capitalism,
WWII saved capitalism. US economy didn't fully recover with the new deal.
Samuel Perez
Let's say that whole convoluted scenario you laid out is true. Well so what?
It's about the same as getting your vin numbers and license plate and pink slip stolen.
It would probably happen as rarely as civil asset forfeiture or imminent domain.
Michael Lewis
A bank is just a place you store your money. If banks didn't exists you would have to pay for private security.
Leo Ramirez
you misspelled nigger multiple times.
Adrian Young
or just a cleverly hidden box with a fucking lock on it.
It's not like you need personal security to guard your home or car.
Stop being such pussies.
David Myers
would you really feel safe storing hundreds of thousands of dollars in your home? just think about that for a moment. if word were to somehow get out that you have that much cash in your house you better hope you can sleep with one eye open.
Chase Brown
USD is an ICO
Angel Peterson
Everybody got by fine for thousands of years with gold and silver tucked away in their home.
When all the peasants left their gold in the hands of shysters, they weren't doing it for security, they were doing it for interest.
But like all other ponzi schemes, it failed and now we call IOUs money.
When you leave your money in the grubby little hands of the banksters, you're literally giving it to them to manipulate the economy in their favor.
The reason why 1% of the population controls 99% of the economy, is because 99% of the population, gave these scam artists 99% of their money for safe keeping.
Stop being a fucking sheep and be a man, goddamn it.