JackTheMimic on Nostr: Right. And what is that regular course of business for a bank? Lending. What do they ...
Right. And what is that regular course of business for a bank? Lending.
What do they lend? Deposits.
And what did you deposit? Bitcoin.
We're literally reillustrating why gold failed.
If they lend fiat, they can print more.
If they lend gold, they issue coupons in a ponzi scheme.
What do you think happens when they lend your bitcoin out?
Banks are a vestigal contrivance of when they were gold warehouses. Banks don't DO anything. They don't even store an appreciable amount of fiat notes which is their ostensible purpose. So the course of their business is stealing (borrowing without permission) people's money and giving it to others. When they lose that money they just print more. How can they do that with Bitcoin. That is why I ask where the 5% comes from. It's especially farcical when Saylor claims that it would be a "Risk-Free" return. So at the end of it all I know it's not Unique what banks WILL do in the future. I am saying if you value your bitcoin you would never give it to a bank.
What do they lend? Deposits.
And what did you deposit? Bitcoin.
We're literally reillustrating why gold failed.
If they lend fiat, they can print more.
If they lend gold, they issue coupons in a ponzi scheme.
What do you think happens when they lend your bitcoin out?
Banks are a vestigal contrivance of when they were gold warehouses. Banks don't DO anything. They don't even store an appreciable amount of fiat notes which is their ostensible purpose. So the course of their business is stealing (borrowing without permission) people's money and giving it to others. When they lose that money they just print more. How can they do that with Bitcoin. That is why I ask where the 5% comes from. It's especially farcical when Saylor claims that it would be a "Risk-Free" return. So at the end of it all I know it's not Unique what banks WILL do in the future. I am saying if you value your bitcoin you would never give it to a bank.