TheTotalConnector#13: Eric Voskuil, Matthew Mezinskis, Max Hillebrand on Bitcoin&Austrian Economics.
Davani
Voskuil, Mezinskis, Hillebrand resolve a central Austrian economics error: fractional reserve banking is necessary for production, universal, not fraudulent. Credit expansion (lending creating money instruments) is inherent to all capital deployment, not unique to banks. Bitcoin's fixed 21M supply auto-limits credit via required hoarding. Free markets (Scotland 1700s-1800s) functioned without 100%
https://relay.towardsliberty.com/c33e59c367c7226d3e1bcc1879d4e2329b30e9f36cfdd185b4e951dc35a123b2.mp4
Davani
Voskuil, Mezinskis, Hillebrand resolve a central Austrian economics error: fractional reserve banking is necessary for production, universal, not fraudulent. Credit expansion (lending creating money instruments) is inherent to all capital deployment, not unique to banks. Bitcoin's fixed 21M supply auto-limits credit via required hoarding. Free markets (Scotland 1700s-1800s) functioned without 100%
https://relay.towardsliberty.com/c33e59c367c7226d3e1bcc1879d4e2329b30e9f36cfdd185b4e951dc35a123b2.mp4