👉 Bitcoin Tech Talk #284
Fiat Money is Evil. Bitcoin Tech Talk #284
We’re taught the basics of banking in school and it goes something like this. Alice deposits $100 into the bank and the bank pays her 3% interest on her money. Bob borrows $100 from the bank and pays 7% interest for the privilege. The difference of 4% is the bank’s profit.
Even a bank with a lot of money deposited, say $100M would only make $4M/year and that would have to pay for the buildings, ATMs, vaults, computer systems and lots of employees from the tellers, the loan officers, security guards, IT sysadmins and for some reason, many, many vice presidents. The numbers just don’t add up. So how do they make money?
Bitcoin Tech Talk #284 also includes updates on the following:
- Bitcoin
- Lightning
- Economics, Engineering, Etc.
- Quick Hits
- Jimmy’s attended events and podcasts