As always, or at least usually, I eventually come around to the opposite of my initial reaction.
Bitcoin banks are a fantastic idea... For companies. Borrowing btc still seems super stupid, but that might actually be a feature.
Let's encourage companies to do this, on both sides.
borrowing on a hard asset has to be for reasons related to liquidity, risk must be low
a clearinghouse or bank may need to borrow, in order to cover a temporary shortfall with expected income arriving later
so you could expect also that the fee on that loan would be high
also i'm sure you know that any contract with terms that can be varied unilaterally are usury... so there's that to think about as well... the hard asset disciplines this a lot
Any interest is usury... Unilaterally changed terms is oppression.
But usury on the hardest money possible will speed up the demise of banks. I'm for that.
no, if you agree i borrow 100 and pay you back 110 it's not usury, because that is not going to change even if i take 10x longer to repay
and yeah, fiat banks are extremely irresponsible with money, there is a cycle every so many years that they just get more and more craven and lever up and up and up until they lose all the money and usually they make retail pay
