The New Technology, page-30

Thank you, This was the point I was trying to make when I said "create money", you did it in much fewer words. Also I wasn't just referring to the fractional reserve lending of retail banks such as CBA and NAB, I was also referring to reserve banks. Also the point about bitcoin hard forks being simmilar to banks inflating money supply would only be true if forks where backwards compatible - its more akin to creating a whole new currency than increasing the supply of bitcoin. Don't you think, @nihlisim. Besides, there is nothing wrong with increasing money supply by lending themselves credit for money owed to them - if they do it responsibly it's actually a very efficient system, but that is a BIG responsibility. And if the Australian property market takes a downturn (God forbid) we may see proof of poor lending practices with ^in defaults of house mortgages and margin loans for bank shares