Tom Bilyeu

Keep in mind, please, that they also printed that money out of thin air and are allowed to charge that interest.

That is a privilege granted to them by politicians.

So they got the money for free and they make 4% of it.

They made the money for free.

And then they charge you interest on it.

And what crypto is saying is,

Banks use fractional reserve lending so they can lend 100% of the already fictional money, charge interest on all of it, create a vulnerability to bank runs because they don't have your money, which is why they act like you're fucking picking their pocket when you come and ask for some of your own cash and they wanna know what it's for, where it's going, they need you to tell them in advance, all that bullshit.

It's my money as a reminder.

So you've got that issue, fractional reserve, okay?

Crypto does not have fractional reserve.

They have full reserves.

They have a one-to-one.

If they give you a dollar of stable coins, they hold a dollar in treasuries.

So it is backed one-to-one by the full faith of the US government, unlike banks.

And the guys who are in a way safer position are saying, just give us the chance to pay out the benefits that we actually make by people lending us this money.

Because those treasuries are paying them money.

And they're saying, as a way to win over customers, we want to pay that money back to the customers, some large percentage of it.

So instead of us keeping the vast majority of it, the person loaning us the money is going to get the vast majority of that benefit.

And we're going to use that to compete against banks, to compete against other cryptos.

And now we've got competition in the market.