zlacker

I'm making the argument or maybe just an observation that the current financial system has a basis in hard reality whereas blockchain/NFT/metaverse/digital ownership seem to break away from that.

The banks are obviously granted the limited right to create money by the government. Whether it's through regulation post facto or a charter a priori, by now virtually all modern states have a wide control over their banking systems, including setting required reserve rates.

>>blfr+(OP)
I paid for physical goods with Bitcoin. That seemed to have a basis in hard reality too.

> by now virtually all modern states have a wide control over their banking systems

This doesn't seem to be the case.

> including setting required reserve rates.

Can you find what the required reserve rate for the US and UK is? From what I can find the US does have a required rate but it's 0% and the UK doesn't have one at all.