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Who is the one backing those paper bills? This brings back centralized banking, which is what most folks in favor of replacing fiat currency with Bitcoin are wo
by ianmobbs 6y ago
Who is the one backing those paper bills? This brings back centralized banking, which is what most folks in favor of replacing fiat currency with Bitcoin are working away from
- wmf 6y agoYes, there would be a centralized entity printing and custodying the BTC behind the bills, but all paper money today is also controlled by centralized entities. So in this scenario, digital BTC would be "real Bitcoin" and paper BTC would be "Bitcoin light".