#define on Nostr: The existing fiat system has tremendous amounts of leverage. Banks keep < 10% of ...
The existing fiat system has tremendous amounts of leverage. Banks keep < 10% of deposits on hand. This amount of leverage is less sustainable the faster money moves around. Bitcoin enables order of magnitude higher speed transfer/settlement. This necessitate deleveraging to maintain stability. This reason (in addition to many others), will continue to make Bitcoin a target. When under pressure, most people cave to establishment to avoid punishment (even undue).
It's important to provide accurate information to people, but most people think Bitcoiners are pure "number go up" gamblers. Most people will never fully understand money, let alone commodity money like Bitcoin.
Published at
2023-05-07 20:47:58Event JSON
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"pubkey": "6b67b527dd6bf6cf0f5452f909354587e7ecaa06ad5f99359cd824c7697f3083",
"created_at": 1683492478,
"kind": 1,
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"content": "The existing fiat system has tremendous amounts of leverage. Banks keep \u003c 10% of deposits on hand. This amount of leverage is less sustainable the faster money moves around. Bitcoin enables order of magnitude higher speed transfer/settlement. This necessitate deleveraging to maintain stability. This reason (in addition to many others), will continue to make Bitcoin a target. When under pressure, most people cave to establishment to avoid punishment (even undue).\n\nIt's important to provide accurate information to people, but most people think Bitcoiners are pure \"number go up\" gamblers. Most people will never fully understand money, let alone commodity money like Bitcoin.",
"sig": "617e0c2be69f709267e10ea664b9c256ea0358e8c1ddee7da73cc7d3063b69d3b8caf5360321c3b94a6689d4147a21fd33e215781ab8438748e82926cf01e44d"
}
