Is the Current Banking System a Ponzi Scheme? (hint: YES)
What Is a Ponzi Scheme? Is Fractional Reserve Banking a Ponzi? Well, what are the characteristics of a Ponzi? In this video Andreas walk through the fractional reserve banking scheme and answers the question, can Bitcoin fix this?
0:00 Is the banking system is a Ponzi scheme, and could bitcoin solve this?
0:43 What is Fractional reserve banking? What are the characteristic of a Ponzi scheme?
3:57 How does bitcoin solve this atrociousness?
This question is from the October Patreon Q&A livestream, which took place on October 24th, 2020. Watch the entire video here: https://youtu.be/maS5xUMZo7E. If you want to ask questions early (before the live event), become a Community Builder on Patreon: https://www.patreon.com/aantonop Patrons get early access to ask questions, view talks, behind-the-scenes content, and much more.
Related Videos:
Will Bitcoin Become the World's Reserve Currency? - https://youtu.be/ctz4E5Z21No
Lost Coins and the Deflationary Experiment - https://youtu.be/IYtAevJIy5E
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