[LINK] P2P banking? Ditch the bank – borrow from the crowd

jim birch planetjim at gmail.com
Fri Dec 16 09:59:42 AEDT 2011


Give a man a fish and you feed him for a day.
Teach a man to fish and you feed him for a lifetime.

Give a man a gun and he can rob a bank.
Give a man a bank and he can rob the world.

-=-=-

Banks were instituted as a mechanism to provide better, more secure lending
and borrowing.  Better to clean up the banks than revert to some utopian
dream.

There's an interesting Wired piece on Bitcoin.  It seems fairly obvious
that capacity for scams and Minsky moments are wired in and require ongoing
management.

http://www.wired.com/magazine/2011/11/mf_bitcoin/all/1

Jim



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