Quote from: fillippone on Today at 09:17:26 PM

Sorry to bring up this post, but I am once again 50 pages late in reading the WO...

Quote from: nullius on September 18, 2020, 05:44:44 AM

(* Another subject that I recently began to write about, and did not yet finish: Fractional reserve banking is mathematically impossible with Bitcoin. Because fractional reserve banking is not what most people think it isit is worseit creates money out of thin air, whereas it is impossible to loan new bitcoins into existence out of nowhere.)

Indeed, this is why I have been looking into DeFi.

I see a legitimate function here.
A new gold standard, where Bitcoin, the digital gold takes the place of the physical gold, while some higher layer DeFi token, compete in a free market for dominance à la Hayek, allowing a full financial system (yes, with credit allowed by fractional lending) based on a decentralised, trustless framework.