
Fiat Currencies are Destroying Themselves w/ Eric Yakes
Bitcoin Magazine Podcast
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Credit Card Transactions - It's Not a Credit Based Money System
Bits are a bare reserve asset. Its final settlement, it's an asset where, when you send it to another person, they own the asset themselves. That is a it's not a credit based monetary system or a credit based financial transaction system. They allow us to do a lot more rapid transactions very quickly. A suppose to you have in to a c h payment the coffee shop that you go to and all these other different places. The lighting network itself is the true inervation. It's like a fully collateralized credit system, yet tat it's that cannot be understated. Also, i'm really rigt we didn't give you theoprtune to introduce yourself
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