"Without getting into all the nitty gritty details, that’s the theory where people need to understand that fractional reserve, while being a bad thing, is not necessarily the devil."
No no no absolutely not. If you concede to the idea that you need a custodian for your bitcoin, then you concede that you quite frankly don't need bitcoin. If you're good with using a custodian, there are many gold vault custodians I could hook you up with.
Even worse, if you're gonna full smol brain it into recreating fractional reserve banking, the 1971 rug pull or a more recent example, DeFi, Celsius, and the Celsius rug pull, just stop, you don't need bitcoin, just use dollars and the banks you already have.
"Without getting into all the nitty gritty details, that’s the theory where people need to understand that fractional reserve, while being a bad thing, is not necessarily the devil."
Devil is in the details, and there are worse forms of evil in credit creation beyond deposits/loans and the M-multiplier.
No no no absolutely not. If you concede to the idea that you need a custodian for your bitcoin, then you concede that you quite frankly don't need bitcoin. If you're good with using a custodian, there are many gold vault custodians I could hook you up with.
Even worse, if you're gonna full smol brain it into recreating fractional reserve banking, the 1971 rug pull or a more recent example, DeFi, Celsius, and the Celsius rug pull, just stop, you don't need bitcoin, just use dollars and the banks you already have.
Yep, yep !