I first addressed GP's point by observing that, were the global economy to adopt bitcoin as a store of value, they would likely still continue to use fractional reserve banking and continue the debt based economy, jjust dde nominating debt in BTC instead of dollars or other currencies. They are unrelated, especially as long as the BTC block chain isn't even close to fast enough to be used as a medium of exchange for a small town, nevermind the global economy.
In this phrase I was just pointing out that, given fractional reserve banking is here to stay, with or without bitcoin, it would have been better if bitcoin had embraced it and actually made it possible to put the real transactions on chain, so that at least you could in principle have a BTC bank that is transparent about the kinds of reserves it actually holds, without being forced to hold a full reserve while competing with banks with fractional reserves.
In this phrase I was just pointing out that, given fractional reserve banking is here to stay, with or without bitcoin, it would have been better if bitcoin had embraced it and actually made it possible to put the real transactions on chain, so that at least you could in principle have a BTC bank that is transparent about the kinds of reserves it actually holds, without being forced to hold a full reserve while competing with banks with fractional reserves.