full image - Repost: Slowly at first, then suddenly: Bitcoin will reshape the financial landscape. (from Reddit.com, Slowly at first, then suddenly: Bitcoin will reshape the financial landscape.)
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With Bitcoin there is no more inflation.Bitcoin allows individuals to securely and inexpensively hold their own savings. Bitcoin and second layers allow fast and secure transactions at very low cost.This will affect:* Banking: No more reason to deposit money into a bank.* Lending: No more fractional reserve lending, only full reserve lending. Lending standards will significantly tighten.* 401Ks / IRAs will become relics of the past. * Real estate mania will die. There will be no rush to buy before prices rise. Etc. * Precious metals will just sit there, or be used in some industrial process.* Financial transaction infrastructure (clearinghouses, armored trucks, wire services, etc.)There will be no more government deficit spending. Let that soak in. This will be huge, and good.The huge boom/bust cycles will become a thing of the past.The "Cantillionaire" class will evaporate. There will be no more theft via money printing and its unfair redistribution of wealth. No more bailouts for failed banksters and their cronies. Losers will just lose.
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