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Note that these pledges were CREDIT, not MONEY. A distinction without a difference when it comes to post-Federal Reserve days. You can't do this with BTC, bec
by patrickg_zill 13y ago
Note that these pledges were CREDIT, not MONEY. A distinction without a difference when it comes to post-Federal Reserve days.
You can't do this with BTC, because there is no credit market at this point.
Everything in BTC is full-reserve, all the time; there is no fractional reserve banking of BTC - it is in your wallet, or it is in my wallet.
- icebraining 13y agoWhat makes you think that online wallets (including exchanges) keep 100% of their reserves? Without inside information, I find it extremely hard to believe that they would just eschew that advantage.