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Sound Commercial Bitcoin Banking Regulates the Money Supply Through Market Forces, Solves Scalability While Increasing Fungibility
The Failed Lightning Network Bitcoin Bailout in El Salvador Highlights The Rothbardian 100% Reserve Fallacy
My last article gave bitcoin maximalists a wedgie. It was meant as a serious in-house debate with like-minded people who have a goal of developing sound money and banking.
Hard issues are never popular or easy. The conclusion that The Rothbardian 100% Reserve Fallacy is equally as bad as the current unsound Defi banking on exchanges did not sit well with many.
“It is this failure of Rothbardians that makes them equally as bad as the inflationists in that they either accept the status quo as “living in sin” or embrace the status quo with convoluted hypocrisy unable to offer anything more than a warehousing service with a hope that the innovation bitcoin alone will change human action rather recognizing than it is human action by men with integrity who can restore sound money and sound commercial banking.”-Source
Too bad, so sad. I am an Ugly Old Goat. I have no axe to grind or sponsor to promote. So here comes another Bitcoin Wedgie. In this article, I will develop the theme further by proposing the following.:
