[sadness3]

Here's a contemporary example: We can, right now, hold USD equivalents in kava.io . It operates on a system which is analogous to fractional reserve banking, except with no middlemen, so your effective interest rate is better by an order of magnitude. It's relatively simple to use. Giving a bank your trust a and a big cut of your returns is going to be a hard sell when that's your normal as a kid.

[byzantinegene]

Terrible comparison, you do know that banks are regulated and insured by the FDIC right? If a bank goes insolvent, your savings will be insured up to USD100,000, but if kava.io goes down (and trust me it will), there goes all your savings.

[tsimionescu]

Sure, you say that now. Let's see what will happen to kava.io during the next financial crisis, or simply 20 years from now.

Banking is by no means a simple or safe operation.

[mempko]

Fractional reserve banking isn't a real thing though...