j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckMü<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=423.msg3708#msg3708">Quote from: NewLibertyStandard on July 17, 2010, 08:36:19 AM</a></div><div class="quote"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=423.msg3705#msg3705">Quote from: Babylon on July 17, 2010, 08:28:22 AM</a></div><div class="quote">what you folks are calling an escrow sounds a lot like a debit card account.<br/></div>Bitcoins are the equivalent to cold hard cash. There's nothing precluding the creation and adoption of debit, credit, banks, loans and fractional reserve lending using bitcoins. Read the posts by InterArmaEnimSil in <a href="http://bitcointalk.org/index.php?topic=376.0">this related thread</a>. Just as a word of caution, escrow services are often operate with the purpose of ripping people off, so make sure you trust them and only kick yourself, but not to harshly, if they rip you off.<br/></div><br/>Yeah, I understood the fractional reserve thread. I am not sure that I fully understand escrow, I know it is usually used in large transactions to ensure the seller that the cash is indeed on hand, and will stay that way. Part of the purpose, as far as I can tell, is usually to slow down transactions, thus making them more secure. In this case it seems the point is more to speed up transactions without losing security, which looks more like a debit account than an escrow service, but I may be misunderstanding what an escrow service is.</div> text/html
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