Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
You can not lend out 1,000btc, just because you got 100BTC in your wallet.
Sure you can! Just not on-chain. Just like a bank can lend out a million dollars without having a single physical dollar in the entire building. As long as the dollars (or Bitcoins) only exist on their own accounting system, they can pull it off.If you try to withdraw a million dollars, the bank won't let you. The same will happen to Bitcoin if they get their way.
I'm not giving them my coins, nor my keys
If you can't doublespend, you have no chance of creating any fractional reserve. You can lend your "fake bitcoins", but that is useless to everyone else not part of your system. You're comparing two different monetary system!.. one far more superior than the other and as far as i am concern, can not be manipulated!
I am sure Jamie and the other bankers are trying to developed their own little scams, but i don't think a fractional reserve of Bitcoin is on the table.