Replying to Avatar Bill Cypher

Uh, what? This is from a fiction book. It is sounding like there is a gap in my history knowledge that needs to be filled.
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Enki 5mo ago

I mean, I've read the book, so I know what you're talking about, but this is an actual banking system that e-chash mints might be able to use.

The only flaw with the banking system as applied to e-cash ments would be that the Suffolk Bank was a central clearing house for smaller banks. And they had regular redemption demands to this centralized bank.

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Bill Cypher 5mo ago

Ah, a top down proof of reserves system instead of a bottom up system where once a week we all pick a mint and clean them out to force a show of reserves.

This week fuck minibits, next week coinos, and so on.

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Enki 5mo ago

Yeah exactly. Obviously, I prefer the bottom up approach.