NEWS

Just a Quick Reminder Why Bitcoin Was Invented in the First Place

People used to pay each other in gold and silver. Difficult to transport. Difficult to divide. Paper money was invented. A claim to gold in a bank vault. Easier to transport and divide. Banks gave out more paper money than they had gold in the vault. They ran “fractional reserves”. A real money maker. But every now and then, banks collapsed because of runs on the bank. Central banking was…
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