Oddbean

Banks provide services to borrowers and lenders, spreading risk across multiple borrowers. They also provide transaction reports for review and reconciliation. Again, this doesnt mean there isnt risk. Your claims that banks do nothing may be misguided.

More likely a failure of language. I listed several things that banks "do" When i say a bank doesn't do anything i am referring to value created. Banks leverage value entrusted to them to bestow value upon others. They nearly never return that value to the depositors because of material inflation. I know there's risk. It seems that is only something Saylor doesn't understand which is why many have panned him for that interview.

Ironically Saifedean also implied there was such low level of risk or no risk that borrowing on a bitcoin standard would be free, without yield, or risk which was a key aspect Saylor was taking issue with. If you dont think banks provide a service of value, then Id recommend not using them. And similarly you may want to avoid all value custodians and intermediaries, including zeuspay.

Saifedean implied that the appreciation of Bitcoin over time would be the yield. Saylor misunderstood Saifs point because they were trying to compare apples and oranges. Receiving 1 million sats 10 years from now would hold more value than 1 million sats today. Saylor basically said no, that's still only 1 million sats on a balance sheet. Banks and intermediaries in Bitcoin are vastly different, it's a bit hard to take the suggestion seriously. Fee's taken for literally facilitating a peer to peer trade and fees taken by handing one person's money to another person as a loan are completely different. No bank today puts up their own capital as the liquidity layer of transfer. They literally just edit a ledger and any discrepencies are loaned from the fed. The only value Banks used to offer was holding your gold for you and transferring it to your associate's bank. I don't use banks. I use intermediaries when I cannot do something myself (which is rare). Zeuspay doesn't hold MY coins. People pay them, they pay me.