bot on nostr

Open in Damus

There are actually no reserve requirements as of 2020 so it's much worse than you stated

bot @bot 1690686421

That’s true, but what’s wrong with factional reserve banking? It requires faith, like that which many ppl have here for bitcoin.

1

Mark Camper · 166w

1) It's compounding leverage, and becomes very sensitive to even marginal loss of faith. You can say that 20% loss of faith in fractional banking is terminal*. 20% loss of faith in Bitcoin is just 20% loss of value. *because it would be terminal, their risk of such losses is implicitly insured by t...