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Etg | 1 months ago (raw) | root | parent | reply | flag 
 That's the description of a scenario that destroyed the gold standard, hope it never happens to bitcoin
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7ab91491 | 1 months ago (raw) | root | parent | reply | flag 
 That's the description of a scenario that destroyed the gold standard, hope it never happens to bitcoin nostr.fmt.wiz.biz
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fiatdenier | 1 months ago (raw) | root | parent | reply | flag 
 We're not there yet, but maybe in the future, we will have verifiable full-reserve Bitcoin banks.
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Etg | 1 months ago (raw) | root | parent | reply | flag 
 Or banks will be where they belong, in the history museum.
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fiatdenier | 1 months ago (raw) | root | parent | reply | flag 
 So in your communist world, nobody can get capitals, nobody can get credit? Nobody can start a business? They have to work for you and live like a peasant. 😂
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Etg | 1 months ago (raw) | root | parent | reply | flag 
 They can, and who lends money will go bankrupt sooner or later. It simply does not work. That's why banks create central banks, to socialise the loss. Without central banks and with sound money, lending money simply does not work.
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Etg | 1 months ago (raw) | root | parent | reply | flag 
 And it's not communist when people have to really work to get money, but practically no one will lend money.