Published on September 5th, 2015 | by bitcoin0
Simon Dixon: ‘Bitcoin Overcomes 3 Massive Pitfalls of the Financial System’
Dixon explained the concept behind money and banks, and more importantly, what money actually is.
“Positive balance in a bank account simply is somebody else’s debt, which is created into existence by the banks.
Bank to the Future
Dixon’s book, Bank to the Future states three main problems of today’s financial problems –
Deposits made with banks are controlled by the banks;
Banks can spend the deposits at their will.
“The reason for that is simply because money is debt.
“I thought the bitcoin was some kind of a crazy Ponzi scheme, I didn’t get involved and I don’t want to lose face.