You say “in crypto” yet Bitcoin was invented to solve the problem you describe.

Then it failed spectacularly. How was FTX possible, if Bitcoin was invented to solve that problem?

Do you solve all your problems by shooting people?

> Do you solve all your problems by shooting people?

All power on earth emanates from the barrel of a gun. We abstract that fact away in modern polite society, but it is the base level truth of our existence.

So yes, when it comes down to it, governments can, will, (and have) used guns to solve this.

Glad you're not in the government. Some people know how to wield power without hurting people.

Governments tend to

Do you have reference to a nation state in history that warred their way out of a debt spiral?

Countries don't need wars to shoot people. You make laws and issue executive orders, and when they are violated, you send people to hit the violators with sticks until they comply, and if that doesn't work, to shoot them until they stop moving.

Any and all economic policy is ultimately backed by violence. That's what governments are for.

Great Britain actually did this regularly. For hundreds of years they would war all over europe until they ran out of money, make up some scheme to refill the coffers (including eventually inventing the central bank and other shenanigans with the "South Sea" bubble), and then go back to war in europe.

>Do you have reference to a nation state in history that warred their way out of a debt spiral?

See: 600 years of Roman history.

But for a modern example, just look at Bretton-Woods.

Glad you're not in charge of the App Store, going around banning any apps you don't like.

The people actually in charge of the App Store don't seem much better

Bitcoin is still clearing transactions just fine every ten minutes like nothing happened.

Why do you say it's behind us? I can talk about Bitcoin all day long if you like.

The beautiful thing about Bitcoin is that it clears transactions every ten minutes and continues to do so until the end of time, and at no point does it care what you think about that.

Tick tock next block.

But what about when people say it's a tulip or a beanie baby?

> Don't put words in my mouth.

> You cannot possibly tell me that you think that[...]

> If you think that a[...]

You put more words in people's mouths than anyone else.

Stack sats.

...that's an emulator.

The people whose money you're 'borrowing' may have had other ideas about what they'd have liked to see it invested into.

Deposits don't need to have interest paid. It's entirely possible for the money to simply sit there and not be invested in anything.

Four questions - where does a bank store cash? What is the IORB and what are its underlying assumptions? What is the overhead cost in banking? What is the cost of ACH and a wire? I don’t contend you can just have money sit there. I also don’t contend that it was stupid in hindsight to be this levered to duration. But there is an overhead cost in banking.