No offense, but this is word salad. Fractional reserve banking isn't a "computer problem," it's a fundamental part pf how banks have done business for the past 400 years. Literally anyone who wasn't stoned in hisotry class or who has watched It's a Wonderful Life knows that banks only keep a limited amount of your money on hand. It's not an "issue," it's the thing that allows them to provide mortgages and loans to small businesses.
It's also a rather important issue that the very idea of cryptocurrency is antithetical to fractional reserve banking, not in terms of FRB existing somewhere in the world, but if it's FRB, it isn't crypto.
This isn't necessarily an ideological thing, but it is no coincidence that a lot of the people drawn to crypto are fanatically opposed to the very idea of FRB.
(I think it is, drawbacks or not, more or less necessary in a modern economy, but many crypto fanatics disagree.)
Did you really put 80k into meme dollars
Can you really not recognize copypasta?
Yup. My wife and my wife's sons have left me. It's over. I'm just waiting til I build up the will to end it.
Do a 100 Tide Pod challenge. And then a flip.
No industrial farm could possibly keep up with the insane exponential demand. The whole point of these bubbles is that the price becomes unmoored from the actual supply/demand value. Look at the past 3 months of crypto: the underlying tech didn't change much, but the price skyrocketed wildly and then crashed. It's obvious that the market lost rationality.
I'm not disagreeing on the volatility or the evanescence of "price," which is an entirely separate thing from value. The ability to generate unlimited amounts of fiat currency or tulip bulbs or whatever directly impacts actual value.
A commodity that is inherently limited in supply has an attribute that fiat currency doesn't. The reason the dollar has value isn't that it inherently has value. It doesn't. It's that the United States can be trusted, in the minds of most people who work for and spend and invest in and speculate on dollars, not to go utterly insane and just print out 50 trillion dollars tomorrow and turn it into some Zimbabwe currency.
Those people are actually reasonable to trust the U.S. not to do that. It's not insane, although many crypto fanatics have paranoid beliefs otherwise and think the Fed is going to do this tomorrow just to initiate Armageddon or whatever.
However, whatever reason you have to distrust fiat currency (I have a few I won't go into now), it has the advantage that you don't need to trust anyone at all to use it. You just have to trust math. I trust math.
