Re:Computer compromise leads to theft of bitcoins valued at ...
by drblast on Tuesday June 14, 2011 @05:49PM
(#2654928)
It talks about the history of banking and the fractional reserve system, the difference between commercial and central bank money.
What most people don't realize is that banks don't have to actually have the money they lend out. That's the basis for our monetary system and while it has nice qualities, like spurring innovation, there are some undeniable drawbacks.
What most people don't realize is that banks don't have to actually have the money they lend out. That's the basis for our monetary system and while it has nice qualities, like spurring innovation, there are some undeniable drawbacks.