Banks, Money Creation, and What the Crypto Community Refuses to Learn from Themby@KhalilNK
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Banks, Money Creation, and What the Crypto Community Refuses to Learn from Them

by Khalil12mJanuary 16th, 2020
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Bitcoin is the best alternative for the average citizen, in the 21st century, to hedge against the frequent financial and economic crises triggered by our debt/credit-based economic system. Money is in fact empirically created ex nihilo, where loans create deposits (and bank lending is not reserve constrained) Owing to its superior monetary attributes as a store-of-value, this empirical finding further justifies Bitcoin’s role as the best. Bitcoin's mission the crypto community has embarked on to build a parallel open, secure, decentralized, and permissionless global financial system requires us to fully grasp the legacy system it is trying to replace.

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