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So the difference is that there is no central authority that can just print more crypto. It's decentralised which means you don't need a bank, bank card or ATMs
by uberswe 6y ago
So the difference is that there is no central authority that can just print more crypto. It's decentralised which means you don't need a bank, bank card or ATMs, you can store your crypto on a piece of paper. So the big guys can own a lot of crypto or a lot of dollars, with crypto there are no banks for them to control and no government to print out new notes.
- chii 6y agoBut looking at this paypal payment, you cannot use your own crypto from your own stick, but have to first sell that crypto to USD, transfer that USD to paypal, then purchase crypto back in paypal, in order to spend it.
- throwawayzRUU6f 6y agoIs there anything preventing large players like exchanges or payment processors from adopting fractional reserves? That's effectively printing more crypto by centralized authorities.
- MrMan 6y agoI would rather have the Fed acting as my central bank than a private corporation