RE: Warning: How Bitcoin and the Cryptocurrency Industry could be Defeated: Fractional Reserve Bitcoin

I disagree. I don't think Bitcoin works that way. Bitcoin is supposed to be running on different computers in different countries and is supposed to be, at least in theory according to the laws of the programming, the cryptography itself, the blockchain system so to speak, to be in sync and transparent in regards to the transactions. For example, there are websites that can show you the transactions that are happening. You can add it all up. But Bitcoin is not digital money. It does not move. Bitcoin is not localized to the extent that they are like torrented or copied and mirrored and synced on many devices simultaneously, assuming that is how Bitcoin works, assuming that Bitcoin doesn't have any or too many backdoors, etc.