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Many in the bitcoin industry /community think that fractial reserve banking was a bad idea, and there would have never been the recent banking trouble if all th
by rmc 14y ago
Many in the bitcoin industry /community think that fractial reserve banking was a bad idea, and there would have never been the recent banking trouble if all the USD could be converted into gold (just ignore the banking problem when there was a gold based currency and ignore other countries that had banking problems).
- rdl 14y agoThere's potentially an argument for a currency itself to not have investment/fractional reserve features, but there is really no viable argument against investment assets existing independent of the currency at all (but denominated in that currency, potentially). Also no sound financial argument for anyone (except those with short term needs or exceptional risk aversion) to store the majority of his wealth in a non-appreciating asset (like currency, even fiat USD) vs. income-bearing assets.