Replying to Avatar geodesic

History keeps doing this:

Gold standard -> gold banks -> bank reserve notes -> fiat

And we know fiat is slavery. So what about Bitcoin prevents it from following the same trajectory? Wallet Of Satoshi is already turning into a Bitcoin bank. Nothing prevents WoS from fractionally reserving, censoring, or any of the evil shit that eventually leads to fiat.

So what makes Bitcoin different? I don't want to see this:

Bitcoin standard -> Bitcoin banks -> bank reserve notes -> fiat

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Michael⚡️ 2y ago

The ability to self custody #Bitcoin and verify the entire supply are game changers.

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