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District0x is paying salaries like that and many others. The point the parent was making is that the money IS SITTING there. And bonds are not M0.... you are
by acty1 9y ago
District0x is paying salaries like that and many others.
The point the parent was making is that the money IS SITTING there. And bonds are not M0.... you are proving his point.
Anyone holding USD in a deposit account or loaned it out is speculating that the value of USD will remain almost the same (willing to lose 2% to inflation).
Of course someone holding a currency expects value to hold or go up. Unfortunately value of USD and other fiat goes down at exponential rate and by end of century will be practically worthless.
Imagine paper bills in year 2100. No?
Then you can imagine USA will digitize it's currency on some Blockchain of their own(this is a no brainer).
Now imagine THE Fed changing interest rates (aka Coin Emission Rate) as they please.
Pretty soon people will diversify their currency holdings away from a single country/government that can change emission (interest) rate at will and has onerous reporting and surveillance requirements.
Logical conclusion is a supra/trans-national global currency something Bitcoin or Monero.
"Granpa, was it true that when you were young you used to get paid in tree cotton papers?"
- danblick 9y agoI think you are conflating "blockchain" with "electronic payment". I can use my Visa card without needing a blockchain. And banks will settle the payment electronically without ever moving paper money. "No Timmy, I was not paid with paper money even in the 1990s."
- acty1 9y agoFunny, I remember getting my first pay from summer job in 1999 in CASH, then later by check and then finally by dirext deposit (which I would withdraw in cotton paper form to spend). Maybe you lived in a more advanced Country than Canada or the USA. Curious where in the 1990's you would have been paid, and spend, purely digitally.
- rocqua 9y agoPeople like having recourse with trusted third parties. They also like universally accepted currency.