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33 sats \ 1 reply \ @Undisciplined 18 Oct 2023 \ parent \ on: _Broken Money_ book club, part 2 bitcoin
Where bitcoin strikes me as particularly interesting in this regard, is that the free market remedy for fractional reserve banking is bank runs and those can occur very rapidly with digital money.
That means you're probably right that bitcoin will greatly reign in the amount of fractional reserve banking that occurs.
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110 sats \ 0 replies \ @elvismercury OP 18 Oct 2023
Yeah, this is one of those really interesting cases where velocity would seem to unlock some new possibilities -- kind of like the financial analogue of more is different.
It's hard (for me) to reason about what this will actually mean, but also obvious (to me) that it will mean something.
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