There is a place for trust and community in a decentralised world.

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In fact it is a hard requirement to achieve any resemblence of scale.

Depends what you mean by scale, small and replicable can also be at scale.

Scale of Bitcoin as a money, ie most liquid media of exchange.

It’s still liquid if you can move in and out of it easily.

Instant redemption of money substitutes at par to base money ensures the trust in the money warehouse can be reduced, bank runs are always imminent, thus banks are incentivize to keep full reserves.