IssueRaiser

It's very frustrating to discover that everything you've learned in college was either very wrong or completely wrong.

It's very frustrating to discover that everything you've learned in college was either very wrong or completely wrong. This is why I tell people that parties and social time are so much more important than classes, for which I get called an idiot. I've almost never had a bank loan. Banks have traditionally refused to lend to me. Thus we can't have me start with the FMC model; I've always lived in the ILF model. If banks aren't reliant for central banks or others for their money, then why are there not more banks? Why don't we see poor people just set up their own bank, loan money to each other, then use that money to go and buy food and shelter? If banks create money, then where do Bitcoin come from, and why are they valued? What happens if everyone stops using other currencies and use Bitcoin instead? And how does the world of Finance plan to stop this?

Posted by stephengillie on Jul 2, 2015, 9:31 PM

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hackernews (FinTech)

It's very frustrating to discover that everything you've learned in college was either very wrong or completely wrong.

stephengillieJul 2, 2015, 9:31 PM

It's very frustrating to discover that everything you've learned in college was either very wrong or completely wrong. This is why I tell people that parties and social time are so much more important than classes, for which I get called an idiot. I've almost never had a bank loan. Banks have traditionally refused to lend to me. Thus we can't have me start with the FMC model; I've always lived in the ILF model. If banks aren't reliant for central banks or others for their money, then why are there not more banks? Why don't we see poor people just set up their own bank, loan money to each other, then use that money to go and buy food and shelter? If banks create money, then where do Bitcoin come from, and why are they valued? What happens if everyone stops using other currencies and use Bitcoin instead? And how does the world of Finance plan to stop this?

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