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MustStopMurad's profile
Murad Mahmudov 🚀
Murad Mahmudov 🚀
Murad Mahmudov  🚀
@MustStopMurad

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Murad Mahmudov  🚀

@MustStopMurad

Cryptocurrency Analyst. Bitcoin, not Blockchain. Angel Investor. Previously @Princeton.

New York, NY
Joined March 2017

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    1. Gabriel D Vine 🛸‏ @GabrielDVine Sep 8

      Bitcoin was created precisely in response to fraudulent custody schemes so prevalent & pernicious in the digital age. Unlike all those paper games, the underlying commodity in bitcoin cannot be fractionally reserved or counterfeited, but can be transferred in an hour.

      1 reply 0 retweets 0 likes
    2. Gabriel D Vine 🛸‏ @GabrielDVine Sep 8
      Replying to @GabrielDVine @Andy_Hoffman_CG and

      The threat of actual speedy settlement prevents the fraud associated with hypothecation – anyone trying that scam with bitcoin will lose it all when the first domino demands its $XBT on chain in the next block.

      1 reply 2 retweets 4 likes
    3. Victor Erem‏ @VictorErem Sep 8
      Replying to @GabrielDVine @Andy_Hoffman_CG and

      Can you elaborate? If many - not fully conscious of he financial self-sovereignty that Bitcoin gives - choose to let custodians hold their private keys, isn't it possibly - even likely - that some fractional reserve lending will ensue?

      2 replies 0 retweets 0 likes
    4. Victor Erem‏ @VictorErem Sep 8
      Replying to @VictorErem @GabrielDVine and

      I think @hasufl and @nic__carter mentioned on the @stephanlivera Livera podcast that they thought such a development would be"unavoidable". @CaitlinLong_ has expressed similar fears. Thoughts?

      1 reply 0 retweets 1 like
    5. Gabriel D Vine 🛸‏ @GabrielDVine Sep 8
      Replying to @VictorErem @Andy_Hoffman_CG and

      Just look to the 19th century, banks in the American Free Banking era tried it repeatedly and collapsed due to bank runs. #Bitcoin is orders of magnitude easier & cheaper to transfer & store than gold.

      1 reply 0 retweets 2 likes
    6. Victor Erem‏ @VictorErem Sep 8
      Replying to @GabrielDVine @Andy_Hoffman_CG and

      Good point. Does seem to make sense. @MustStopMurad, do you share this opinion?

      1 reply 0 retweets 0 likes
      Murad Mahmudov  🚀‏ @MustStopMurad Sep 8
      Replying to @VictorErem @GabrielDVine and

      @GabrielDVine is correct. In my personal opinion Fractional Reserve is unlikely to be sustainable atop Bitcoin in the long run. Substitutes will trade at a discount, and Lenders of Last resort to bring new money into existence and save the system are impossible.

      2:21 PM - 8 Sep 2018
      • 4 Likes
      • Gabriel D Vine🛸 Stephan Livera Hasu Victor Erem
      1 reply 0 retweets 4 likes
        1. New conversation
        2. Victor Erem‏ @VictorErem Sep 8
          Replying to @MustStopMurad @GabrielDVine and

          Thanks for the reply! So, @Hasufl, do you still disagree with @MustStopMurad, as I thought you did in the @stephanlivera podcast? Or did you just mean to say that fractional reserve BTC is bound to be tried out by FIs, at least for a while?

          1 reply 0 retweets 1 like
        3. Gabriel D Vine 🛸‏ @GabrielDVine Sep 8
          Replying to @VictorErem @MustStopMurad and

          Keep in mind this is also a matter of degree to a small extent. Even now exchanges might flirt with fractional reserve at small quantities. Overall notional supply may also be affected a bit. Reverse too: temporary 101% reserve, etc.

          1 reply 0 retweets 3 likes
        4. Victor Erem‏ @VictorErem Sep 9
          Replying to @GabrielDVine @MustStopMurad and

          Unfortunately, @hasufl went AWOL. Was really interested in his pov though. @pierre_rochard, do you care to weigh in on this topic?

          1 reply 0 retweets 0 likes
        5. Pierre Rochard‏ @pierre_rochard Sep 9
          Replying to @VictorErem @GabrielDVine and

          If we have on-chain scaling and 100% reserve trustless layer 2 like Lightning then I don't think fiduciary media would have much relevance at all. If we don't, fiduciary media will be relevant and Murad's prediction is reasonable

          1 reply 0 retweets 2 likes
        6. Victor Erem‏ @VictorErem Sep 9
          Replying to @pierre_rochard @GabrielDVine and

          Seems logical. I still hope to hear from you, @hasufl, if you disagree and if so, why...? 🙂

          1 reply 0 retweets 0 likes
        7. Pierre Rochard‏ @pierre_rochard Sep 9
          Replying to @VictorErem @GabrielDVine and

          The issue of fractional reserve banking is very controversial and there's no need to incite debate haha

          1 reply 0 retweets 0 likes
        8. Victor Erem‏ @VictorErem Sep 9
          Replying to @pierre_rochard @GabrielDVine and

          Haha... Yes, that could maybe explain why @hasufl went AWOL. Although Austrian economics is a relatively new world to me, I am aware that this a matter of controversy. However, if all transactions happen on trustless layers, your (&Gabriel's and Murad's) conclusion seems logical.

          0 replies 0 retweets 0 likes
        9. End of conversation

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