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Hawkins Entrekin's avatar

The bank analogy is just so bad... bank deposits only have a certain percent of cash available for withdrawal that is true (the BTC in the analogy above), however the fundamental difference is that the other 80% is backed by real assets with real value, home loans, business loans, etc. Not "magic beans". Its the "magic beans" that make something a ponzi!

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Louis Shulman's avatar

Jon Wu always crushes analysis. Cool to see him guest post.

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