stacksatsio on Nostr: This is a weird rabbit hole to go down for those uninitiated. Worth spending a few ...

This is a weird rabbit hole to go down for those uninitiated. Worth spending a few hours understanding the how and why behind it

quoting note13fc…a8p0

Airlines are also banks. Their miles are their own private currency. The outstanding miles (liabilities) are often larger than the market cap of the company.