
Salty
2.4K posts











The entire idea of fractional reserve banking needs to die. Banks exist for one purpose only -- as a safe place to store money. The idea of lending out that money is a subterfuge created by bankers to provide them a business model. I don't see lending existing 30 years from now. Banks in general will be more like @AvantiBank -- they will hold Bitcoin and they will be backed by something like the "FBIC", a pool of Bitcoin that goes to paying hacks. And it will cost Bitcoin to use the bank. The idea of paying for custody is not new. MicroStrategy uses multiple pure custody vendors, like CoinBase and Fidelity Digital Assets. If your entire business is custody, you can build an efficient, and profitable business. A business that other businesses will want to use, and will be happy to pay for. Yesterday, the FDIC sent a letter to a long list of banks telling them not to get into things like Bitcoin Lending. The FDIC, as @CaitlinLong_ can attest, is the "head of choke point" at "Operation ChokePoint 2.0". It's an obsolete, bankrupt organization that is like a band aid on a terminally sick patient -- the fiat world. But what about lending? Surely banks provide this vital economic function by lending out our deposits to businesses? No. That's a ruse designed by the banks, the Fed and the FDIC to justify the existing corrupt, broken and usurious world order. There certainly will be lending in the future. But it will be more like the merchant banks of Medici Italy. They will assess risk, and lend out their own capital on various terms. I believe long term, MSTR will become such a merchant bank. They will take in Bitcoin deposits from rich businesses and individuals, lend it out judiciously, and pay and receive Bitcoin yield in the process. For the average person, Federally licensed pure custodians will take in Bitcoin deposits at -0.1% yield, and provide piece of mind. The FBIC will replace the FDIC. The Fed will dissapear. And Michael Saylor will become the next Cosimo De Medici.


How it feels to freely harass and insult British politicians in ways that would get a normal UK citizen arrested. x.com/Violentarstcra…



WONK SLOP (n): WONK SLOP is commonly found when a very clearly good/bad thing occurs, and the wonk (firmly leftwing, falsely claims centrist) provides a tidy "data-driven" AKSHUALLY breakdown to justify why the clearly good/bad thing is actually not that good/bad and everything is fine, actually. WONK SLOP is a fine delicacy of rationalists and people who wear masks outside. It's a tasty treat for those who've made their entire personality around suppressing their natural instincts, squashing innate beliefs, and squelching any semblance of the behavioral immune system that nature has worked tirelessly over centuries to provide for them. WONK SLOP leverages selectively curated numbers to form counternarratives about why the obviously good/bad thing is actually no biggie. It takes opinions masquerading as FACTS to deceive the common libtard and dopey NPC that their decaying environment has never been better. WONK SLOP believes that if you append a number to an opinion, then it ceases to be a narrative-driven political stance about tradeoffs and value judgements, and becomes some kind of rational, high-minded "factual" conclusion, and you need to read a book and get educated so you can come to the same conclusion too! Please have a safe and merry Christmas, and don't let your loved ones succumb to the temptations of WONK SLOP. WONK SLOP: not even once! 👎



"the fact that society has a bunch of critical pathways that are load bore by limits on human level cognition, that is now almost 100% replaceable with zero cost LLMs, is has seismic implications both for policy and power redistribution" - @patio11 (paraphrased) Complex systems best podcast






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