Replying to Avatar Sovereign Being

My money is on the bankers and billionaires. People idolize these figures and have allowed them to set the narrative to suite themselves rather than everyone else.

P2P cash or it doesn't solve the problem.
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Chris Liss 11mo ago

I would take the other side of that bet — I think they’ll find the asset too hard to do what they hoped with it.

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Sovereign Being 11mo ago

Of course that is what I would like to see.

What would be the point that we admitted it has failed, if it was to go that way?

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Chris Liss 11mo ago

I think it’s already won, and they don’t know it yet, like they will try to fractionally reserve lend it, but when there’s a run, they won’t be able to get bailed out, and everyone will demand proof of reserves, and the fractional lending on which the system depends will no longer be possible.

The way it would fail is if everyone were to just fractionally-reserve lend it, and no one cared about the virtual infinite supply. But it’s too late for that.