I’m not sure I get it. Only one person can own a Bitcoin at a time. So some people of reinvented fractional reserve banking. But now with the problem that it’s

I’m not sure I get it. Only one person can own a Bitcoin at a time. So some people of reinvented fractional reserve banking. But now with the problem that it’s unregulated, unbackstopped by a lender of last resort and ultimately through rehypothecation you’ve virtually eliminated any advantage gained by using blockchain technology.