convince me that the incentives behind layer 2 don't lead to paper bitcoin and the same fractional reserve banking we wish to escape in fiat world.
#bitcoin #layer2 #l2 #fiat
Discussion
Bro you are the one here making the claim the burden of proof is on you.
Fractional reserve is a system of baking where the monetary supply (M3) is increased via lending.
So you convince me that L2/L3 increases the monetary supply of sats or give up on this stupid claim.
I said it elsewhere but I will say it again here, it is like you simply do not know what fractional reserve is. Seems like you think it simply means paper money or IOUs or something like that. It does not.
Fractional reserve is based on DEBT and every loan adds dollars to the supply.
fractional reserve is printing more IOUs than one has in supply. Call it theft if it's not advertised as a loan. Good luck holding international or anonymous mints accountable. Here's a good video explaining the current scaling problems with L2+. To ignore these issues is dininginuous bad faith. How likely will it be to hard fork BTC to enable rollups? BitVM currently vaporware with it's own issues. https://youtu.be/5Cq0C0SpbkY?si=uX2z1d-QaYeV-Mvs
"fractional reserve is printing more IOUs than one has in supply"
Which is expansion of the M3 (monetary supply) show me how that happens with a L2 or L3. Or bluntly shut the fuck up.
FWIW YOU CAN'T DO IT BECAUSE IT DOESN'T WORK THAT WAY.
You are a tard. Sorry, not sorry. Your are just talking out of your ass either due to ignorance, willful ignorance or stupidity.
And AGAIN you change the debate proof that your ignorance is willful.
YOUR CLAIM IS FRACTIONAL RESEVE
Until you address that anyone letting you drag the debate to scaling is a fuckin dumb as you are pretending to be.
So me how L2 increases supply of Sats or shut the fuck up you door knob.
Again it actually reduces not the supply but the available supply by locking up liquidity. It is the OPPOSITE of lend new money into existence.
I am sorry I should not have called you a door knob, they are more useful than you and it is insulting to door knobs to equate them with you.