W/ respect I thought
1- bitcoin used to not exist; so current price of bitcoin x current number = fiat that did leave the banking system
2- bitcoin is still being mined so every new bitcoin mined and sold = fiat that does leave the banking system
3- fractional reserve banking means every fiat $ leaving a bank reduced bank fiat by x10 or more? Even if the bitcoin seller gets fiat for the bitcoin, the fiat may not be re deposited into the bank, fast enough, before that fractional leverage has impact ?
I am probably in error somewhere here.
viper_1 / viper_1
npub1c2…ss4hq
2023-03-20 12:39:00
in reply to nevent1q…qkz0
Author Public Key
npub1c2apjrhrtpar4v7a9xm4plesudpn4577hhkn9nkdrddx68cvrnxqhss4hqPublished at
2023-03-20 12:39:00Event JSON
{
"id": "59f441518011cd6a0222d30bcf374ba08380f736b2791d97dec674ed595243e7",
"pubkey": "c2ba190ee3587a3ab3dd29b750ff30e3433ad3debded32cecd1b5a6d1f0c1ccc",
"created_at": 1679312340,
"kind": 1,
"tags": [
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[
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"content": "W/ respect I thought\n1- bitcoin used to not exist; so current price of bitcoin x current number = fiat that did leave the banking system\n2- bitcoin is still being mined so every new bitcoin mined and sold = fiat that does leave the banking system\n3- fractional reserve banking means every fiat $ leaving a bank reduced bank fiat by x10 or more? Even if the bitcoin seller gets fiat for the bitcoin, the fiat may not be re deposited into the bank, fast enough, before that fractional leverage has impact ?\nI am probably in error somewhere here.",
"sig": "12ec351ad29249868d30305537b6438d967e2744870e83d995ffbe0897d10f02ef13e9bc3b8c168fd67b1851e9cfb142568b1d9f8882a71334e0154aec887d59"
}