You forgot the last bit: "...without a central authority." There is no double-sp... | Hacker News

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		AlexandrB on June 29, 2022 \| parent \| context \| favorite \| on: Bitcoin is the only coin the SEC Chair will call a... You forgot the last bit: "...without a central authority." There is no double-spending problem in traditional banking because it is not decentralized.

kayamon on June 29, 2022 [–]

Perhaps you should read about fractional reserve banking. The same money can indeed be loaned out against ones will and reappear elsewhere in the economy in two different places at once.

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