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.
About aantonop: Andreas isn’t promoting a company or an organization; he’s paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at https://aantonop.com
From Andreas: You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Watching these videos and sharing them with others is a big part of that. Thank you for being part of this mission.