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A comment on Nassim Taleb: Bitcoin failed as a currency and became a speculative ponzi scheme. Parent comment

Re:Nassim Taleb: Bitcoin failed as a currency and became a s... by quickthrowman on Saturday April 17, 2021 @10:23AM (#26844482)
Why is it impossible with Bitcoin? This is already taking place. How do you think the interest bearing crypto accounts work? Rehypothecation, lending the same coin possibly multiple times.

https://blockfi.com/an-introduction-to-rehypothecation-with-...

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Re:Nassim Taleb: Bitcoin failed as a currency and became a s... by JackFr on Sunday April 18, 2021 @12:47AM (#26849895)
I’m not sure I get it. Only one person can own a Bitcoin at a time.

So some people of reinvented fractional reserve banking. But now with the problem that it’s unregulated, unbackstopped by a lender of last resort and ultimately through rehypothecation you’ve virtually eliminated any advantage gained by using blockchain technology.

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