Post A555NNQfrIMEkMuffE by NicolasConstant@social.nicolas-constant.com
 (DIR) More posts by NicolasConstant@social.nicolas-constant.com
 (DIR) Post #A552nLrY0QNJYTB224 by lain@lain.com
       2021-03-10T22:09:07.263791Z
       
       2 likes, 0 repeats
       
       Can't wait for fractional reserve crypto
       
 (DIR) Post #A552qMi7JGwZ3NCdnM by icedquinn@blob.cat
       2021-03-10T22:09:41.136944Z
       
       1 likes, 0 repeats
       
       @lain chinacoin :cirno_heh:
       
 (DIR) Post #A552t9urKsviEzUlAu by lain@lain.com
       2021-03-10T22:10:11.256895Z
       
       0 likes, 0 repeats
       
       Maybe people are already doing that using some kind of smart contract.
       
 (DIR) Post #A552wciCjJYYQ0EBnc by qtya@social.xenofem.me
       2021-03-10T22:10:49.581490Z
       
       0 likes, 0 repeats
       
       @lain mmt cryptosocial credit cryptocao cao war bonds crypto
       
 (DIR) Post #A5530zbVYmDuZiBAUC by cereal@shitposter.club
       2021-03-10T22:11:37.356767Z
       
       1 likes, 0 repeats
       
       @lain the only smart contract is a mutual destruction policy :ancap:
       
 (DIR) Post #A553u9465LbNqSqmDw by cjd@mastodon.social
       2021-03-10T22:21:04Z
       
       1 likes, 0 repeats
       
       @lain There is crypto borrowing where people stake collateral (crypto) and then borrow (typically USD-tokens) against it. In theory if the price of crypto went down hard enough, you could end up under-water in which case it is effectively fractional reserve. But that's p2p lending facilitated by a smart contract.Kind of doubt anyone would just agree to do last-one-out-the-door-loses fractional reserve banking.
       
 (DIR) Post #A553wrdhKXtyfWna2S by lain@lain.com
       2021-03-10T22:22:03.509597Z
       
       0 likes, 0 repeats
       
       @cjd in general I'd doubt that too but people are doing it with fiat, so who knows
       
 (DIR) Post #A554dGiuSVB0d0SMeu by feld@bikeshed.party
       2021-03-10T22:29:44.301732Z
       
       0 likes, 0 repeats
       
       @cjd @lain the big version of this is https://aave.com
       
 (DIR) Post #A554lmiTOSYWAYJTHc by cjd@mastodon.social
       2021-03-10T22:27:08Z
       
       1 likes, 0 repeats
       
       @lain Well, historically people sort of had to, otherwise hide their gold and hope no bandits find it. Then came central banking, bank regulation, and the promise that if a bank fails, the state will print them out of it.Under that condition there's no real risk at all, except the systemic risk of hyperinflation.
       
 (DIR) Post #A554oRy6zQ6agptn4C by NicolasConstant@social.nicolas-constant.com
       2021-03-10T22:27:40.529977Z
       
       0 likes, 0 repeats
       
       @lain isn't what Tether and other centralized stablecoin is all about?
       
 (DIR) Post #A554oSNHTqEpwtftIW by lain@lain.com
       2021-03-10T22:31:43.578632Z
       
       0 likes, 0 repeats
       
       @NicolasConstant tether isn't supposed to be fractional, if it is it's fraudulent
       
 (DIR) Post #A555NNQfrIMEkMuffE by NicolasConstant@social.nicolas-constant.com
       2021-03-10T22:35:38.378168Z
       
       1 likes, 0 repeats
       
       @lain yes and that's the funny part. 😄