niltempus on Nostr: The danger still exists if the government creates a fractional reserve system on top ...
The danger still exists if the government creates a fractional reserve system on top of Bitcoin. Think of a government controlled layer 2 or 3 where IOUs are paper BTC. Just like the gold system. 99% of people will be priced out of L1.
Published at
2024-07-02 14:57:45Event JSON
{
"id": "f591cad2e7f8ff639e951b1e8dfd1229f534a99891e2502b143353f0f6d4d08c",
"pubkey": "c671f520a2f7b526078d080dd9407043b8c05581f395a07aab32ab1388910158",
"created_at": 1719932265,
"kind": 1,
"tags": [
[
"e",
"29265a931bd6fb82222c65815a8dd39a4659e160438843a7837d01a41c875966",
"",
"root"
],
[
"p",
"3e21c587ac08b2d0205da3006c7e602fd2a32aa6cb9f4b43a751720b1a85b1fd"
]
],
"content": "The danger still exists if the government creates a fractional reserve system on top of Bitcoin. Think of a government controlled layer 2 or 3 where IOUs are paper BTC. Just like the gold system. 99% of people will be priced out of L1.",
"sig": "fdc38ee7932af898a2dfe22e7ddf80e7aa00364ba97da828611aa654cc86ab0a84a721b17ba92f781c2f4f2cee3d8debfecd4d170788fb99090ad9f027b7b20f"
}