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You forgot the last bit: "...without a central authority." There is no double-spending problem in traditional banking because it is not decentralized.
by AlexandrB 4y ago
You forgot the last bit: "...without a central authority."
There is no double-spending problem in traditional banking because it is not decentralized.
- kayamon 4y agoPerhaps you should read about fractional reserve banking. The same money can indeed be loaned out against ones will and reappear elsewhere in the economy in two different places at once.