Oddbean new post about login | logout Correct me if I’m wrong but didn’t Saylor recently say that his goal is for Microstrategy to become a bitcoin bank? His statements about custody should come as no surprise. Be wary of becoming the source of anyone’s yield. Recent history makes the risks of doing so abundantly clear.
he told saifedean every economy has had credit issued on top of sound money. how did that work out?
Fractional reserve lending does not work with #Bitcoin. Today when a bank issues a loan it creates the money as it can lend out more then they have in reserve. Can’t do that with #BTC. I guess you could lend out Bitcoin with interest and then at the end of the load get the principal and the interest as profit. But banks would rather show BTC as reserves and not just the fiat they have. At the moment I see a hybrid system possible, BTC and fiat, inside the banking system. What do you think?
do something good for the people or transform your company to a bitcoin bank 😵💫