Oddbean new post about login | logout You all are so far ahead of the Twitter curve. I’m explaining to someone about fractional banking over there. Normies are so sadly lost in this maze of financial repression.
Keep up the good work. And glad you’re patient :)
Many shitcoiners and NFTers don’t understand that, and Im speaking in general terms. Heck many Bitcoiners have lost what the meaning of 1 BTC = 1 BTC means.
Honestly knew nothing about it before studying Bitcoin
I learned about fractional banking about 14 years before Satoshi wrote the white paper. Bitcoin seemed to be the answer to this scam when I first heard about it.
Sometime I wonder if they're not better off. https://m.primal.net/KgIz.gif
Hit em’ with David Webb’s https://thegreattaking.com/ for some icing on the cake.
That's the result of listening to hours of your and other BTC legend's podcasts over the years. Thank you for all you taught me!
Hey James, think you could teach us to shoot a knucklepuck?
Question though @james ! How exactly does it work? 1) $100 dollars deposited at institution A, A keeps $10 (with a 10% reserve ratio), and lends out $90, the $90 gets deposited at B, who keeps $9 and lends out $81, and so on and so forth until the $900 is created, or 2) can A hold the $100 and create $900 worth of loans straight away? And if it’s 2) wouldn’t institution B then be able to create $9,000 of loans straight away from the $900!?!?
