quoting brooklyn btc,
"I don't know if its fair for one member of the community to speak on what the rest approve of or not. You might think some are against "The Fed" but the AE will open up huge numbers for growth, arbitrage, and the invisible hand of the market.
A stable benevolent CB or more, could help with flow and balance.
We are "trusting no one" but we are setting ourselves up like lambs for the wolves"
As far as speaking for the community what the rest approve of or not; I am a public representative of Nxt. What I say in public and in front of potential investors has the real potential to attract investment and new users of NXT.
Can you sell the same house twice? Can you sell the same fluffy cat twice? Can you sell the same bar of silver twice? No? That is what I refer to when I state that the Nxt community does not generally approve of fractional reserve banking.
Why trust a Central Bank when the free market can determine the real price and the real reputations of market participants?
Keynesian philosophies are hard to break.
Sincerely,
Brian Snyder
EDIT: If a company wants to sell stock (assets) created in the AE, then issue more stock (assets) later, and then again, and again, they can as long as the company is transparent about their actions. Then the market can decide whether the dilution in ownership is worth the potential upside the company may have from deploying the funds acquired through additional asset issuance. That example is a little like "fractional reserve" but the investors have a choice and full knowledge available to them so they can participate after completing due diligence.
So we're not even talking about the same thing. I'm not talking about complex derivatives. I'm talking about trust and belief in growth.
If you TRUST the CB, in the same way you trust Anon, or plan on trusting James with his gateways, why would you not trust someone who holds NXT in reserve?
I'm not talking about selling the same house sold twice, I'm talking about a gentle whale supporting the AE with a stable core asset.
1M in the "bank" linked to 100NXT "bonds" Gold Bar style. Paying out 2% interest, with efforts in place to control that the price of NXT goes in that direction.
