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Laymen here: How can they introduce numberless BTC? I thought that was the crux of what makes this different from fiat: you can only transact from one address t
by MadcapJake 4y ago
Laymen here: How can they introduce numberless BTC? I thought that was the crux of what makes this different from fiat: you can only transact from one address to another, no institution in between.
- matheusmoreira 4y agoI've written more detailed posts here: https://news.ycombinator.com/item?id=31375366 https://news.ycombinator.com/item?id=31375366 Accounting tricks, basically. They say you have BTC in your account when in fact your deposit is tied up in investments, loans.
- deleted 4y ago[deleted]
- tasuki 4y agoThis still doesn't change how many BTC are in circulation. When the fractional-reserve imaginary bitcoin implodes, it might even increase the price of actual bitcoin?
- matheusmoreira 4y ago> This still doesn't change how many BTC are in circulation. It absolutely does. I can get a loan at an exchange while the original owners of those BTC still have it listed under their accounts. So multiple people can trade with the same coins, as if they had been copied. > When the fractional-reserve imaginary bitcoin implodes, it might even increase the price of actual bitcoin? Unknown. Perhaps.