/biz/ - Business & Finance

>>53891101
>>53891132
BLOGPOSTING HOURS
I recently finished reading my first economics book and came across something incredible. There was a part where the guy tal.. I mean wrote about saving being a benefit to the economy, that kind of blew my mind even though it's rather obvious now. I don't really like banks fucking with my money, but I agree that for people that just keep their funds on a bank and never do anything useful with it then It makes sense. I never realized that lending is so important to an economy, the whole idea of le evil moneyman hoarding money isn't a thing, people who save would need to horde physical cash to prevent the economy from growing.
However If everyone had bitcoin and kept their savings in that and or gold. uh then Banks couldn't lend funds because they would not have any. I know this is rather unrealistic but if banks lending = good then does bitcoin saving = bad?
I thought about that for a bit and asked someone else which blew my mind even more.
Smart contracts, given that a crypto asset allows for lending then this solves the whole problem of crypto being bad for the economy. This option alone is such a massive value proposition it's barely comparable. Bitcoin is essentially worthless and any non scam L1 is worth massively more than I previously expected.
I could be wrong!