Nothing is risk-free, but the point is that you need credit and banks in a capitalist society, even under a Bitcoin standard. If Bitcoin becomes money, then it can be saved and earn interest. Granted, we donβt have the system to support this yet, but perhaps in the future.
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No, only if there's fractional reserves, a bank deposit of gold with full reserve never pays interests, on the contrary, the owner pays a custody fee.
A friend raised funds to launch a startup last year. No credit. Simple capital for equity from many small investors using savings. That is maybe the move that Saif is saying will become the norm. Under that paradigm, is credit truly required?
