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RE: The Danger of Fractional Reserve Bitcoin is Here
The issue I have with BTC (and the forks) is that miners are akin to central banks. Any new tokens first go through them before entering people's wallets.
On Steem, a token goes from the blockchain to ones wallet, a big difference.
As to the point of exchanges, I couldnt agree more. I use them when I am converting fiat but it is usually a pass through.
See my response to @zoidsoft’s blog which also addresses your point. The FATF (with its additional 9 regional groupings) which appears to be the 10 Kings in Revelation is to be that global central bank.
Oh and I entirely disagree/refute/rebuke your assessment of PoS(hit) altcoins.