I think Bitcoiners have an aversion to free banking because it entails custody and temporary expansions of the money supply. I personally see the benefits in the free banking model that George Selgin proposes though
Login to reply
Replies (1)
Free banking in Bitcredit Protocol is designed differently, rigorously by the rules of Austrian Economics.
We must be strict on
(1) verifiable redemption into #Bitcoin,
(2) distinguishing between present #Bitcoin and future money, and (3) issuance only against Proof of Value, similar to #Bitcoin's PoW.
The Modern School of Free Bankers don't seem to get this.