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RE: Respect Your Elders: Upvotes Facilitate Legalized Tax-Evasion

in LeoFinance3 years ago

Yeah except fractional reserve means you owe money to people and don't have the liquidity to pay them back... but it's cool because people owe money to you. So as long as everyone pays everyone back it's fine. The problem is that more money is owed than exists... so you have to borrow more money just to pay money back. Unsustainable.

The crypto system doesn't have that underlying foundation of debt.

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that's why Crypto is King !

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