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"Historically, Bitcoin exchanges that suffered significant losses turned into fractional reserve banks, only to fold later." That is not what fractional reserv
by aardvark179 13y ago
"Historically, Bitcoin exchanges that suffered significant losses turned into fractional reserve banks, only to fold later."
That is not what fractional reserve banking is and I wish bitcoin articles would stop misusing the term.
- mikeash 13y agoThe continued misuse of that term seems telling. If they really think this is how normal banks work, it helps explain why they set up these bitcoin systems in such crazy ways.