Future Bitcoin-based financial system will obviously have fractional reserve banking, because people with savings do want to take risk to get some sweet, sweet yield.
But fractional reserve banking with *real* risk. Not one where gains are privatized and losses socialized.
Not one where everyone have to play the casino, enriching the financier class just to keep up with the inflation.
On where there's a point in being prudent and careful, as you reckless competition doesn't get unlimited get out jail card from political allies.
Not sure where Ben Hunt got this idea that Bitcoin means exclusively full-reserve banking.
https://twitter.com/EpsilonTheory/status/1637498607073886208
dpc
npub1ya…t0gd0
2023-03-19 21:31:56
Author Public Key
npub1yarprdrj3vxyp0su7xqd3u6z047na6792ezas6dqqt5tv4lce4ssjt0gd0Published at
2023-03-19 21:31:56Event JSON
{
"id": "4dc7a0f8bc93ca4a84a516c0c5a69e963184b72f37436a411307c496885a68f5",
"pubkey": "274611b4728b0c40be1cf180d8f3427d7d3eebc55645d869a002e8b657f8cd61",
"created_at": 1679261516,
"kind": 1,
"tags": [],
"content": "Future Bitcoin-based financial system will obviously have fractional reserve banking, because people with savings do want to take risk to get some sweet, sweet yield.\n\nBut fractional reserve banking with *real* risk. Not one where gains are privatized and losses socialized.\n\nNot one where everyone have to play the casino, enriching the financier class just to keep up with the inflation.\n\nOn where there's a point in being prudent and careful, as you reckless competition doesn't get unlimited get out jail card from political allies.\n\nNot sure where Ben Hunt got this idea that Bitcoin means exclusively full-reserve banking.\n\nhttps://twitter.com/EpsilonTheory/status/1637498607073886208",
"sig": "e13f55fb8cbadd6ab99e03090f3e499077f2a1d4e1ace606737bd2a7728179f6dc7e75f3a0b0df8a4d3eb85b54b4ba3b966a0991aa505651fb2231dd72361e45"
}