Fractional reserve on it's face isn't terrible when you know the bank you're using is doing it and accept the terms and risk. The issue is when the money itself is completely debt. With free banking, you can choose your own level of risk. With Bitcoin as the underlying and proof of reserves being possible, you can better assess the risk of any given bitcoin banks ecash. Lightning itself is full reserve by design. Ecash requires trust, but the nature of there being multiple interoperable mints provides some level of check.

Your inference is RETARDED, sounds like you are saying Bitcoin is fractional reserve, it ISN'T and anyone that says it is, is willfully ignorant or stupid. In a fractional reserve system money is lent into existence expanding the supply. LN and other layer two do have some risk but they do not increase supply by a single sat. In fact they REDUCE SUPPLY by tying up sats for liquidity. It sounds to me like you have been listening to shit coiners. If you disagree fine, I am an open minded man. Explain to me how any BTC layered solution increases the monetary supply of BTC. Go ahead.

Operating a cashu or fedi mint with insufficient bitcoin backing isn't fractional reserve, it is theft. Fractional reserve lends out reserves, and those loans are assets held by the bank. Fractional reserve isn't technically theft because your account deposits are seen as loans to the bank.

Is that attitude how you win guests over on your podcast? I've never listened, but your leadership skills suck. Probably an ideological circle jerk 🤣