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As the article said, deposits are just IOUs. You can definitively have IOUs denominated in BTC. The number of Bitcoins in the ledger/blockchain would not incre
by icebraining 6y ago
As the article said, deposits are just IOUs. You can definitively have IOUs denominated in BTC.
The number of Bitcoins in the ledger/blockchain would not increase, but if you asked everyone how many Bitcoins they owned and summed it all, it would have increased.
To use the standard terms, the hard limit on the number of BTC in the ledger/blockchain is M1. You can have an increase in M2/M3 without an increase in M1.