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Mike Brock · 159w
Reality is government's should not fear competitive private money like bitcoin, if they're a confident in their state-issued currency. I don't really take a position on the inevitability of the end of...
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SatScale @SatScale
They don’t allow fully reserved banks because they know that will cause a run on the fractional reserve banks. We will reach a point where enough people equally realise the difference between bitcoin and fiat - only I’m not sure they can truly stop bitcoin
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Mike Brock · 159w
I'm not sure that I agree that the existence of fractional reserve banks are a creature of the state. In fact, it seems to me, that the time preference arbitrage, is a pretty seductive and powerful incentive for fractional reserve banking, even in the purist of unregulated free markets. It also se...