3 ms·

Sure, if it were agreed upon, backed by some real value and not solely speculation, and rather stable. You can get pretty close to that today by just having an

Sure, if it were agreed upon, backed by some real value and not solely speculation, and rather stable. You can get pretty close to that today by just having an online bank account that can issue checks(to yourself). I think the problem isn't necessarily the idea, but the implementation (all 25k of them).

randomhodler84 5y ago
If you are talking banks and checks, you are missing the point entirely.. In 2013 the Cyprus government confiscated 47.5% of all bank deposits above €100,000. Let that sink in. Banks are the last place you want to trust your life savings.
- silisili 5y ago
  Perspective. That figure is for a single bank, on uninsured deposits. Let's not forget it was all quasi legal tax games anyways. If I as a US citizen have to run away from my house, the banks have stolen all the money, what good is Bitcoin going to do? At that point it's all out anarchy, and good luck finding a computer much less electricity. And assuming you find both, what in the world are you even hoping to buy? And if you're thinking of those in other countries with less protections and stability, fair enough, but those aren't the ones speculating and getting rich off this scheme.
  - randomhodler84 5y ago
    Maybe take a look at some of the distribution of coins. It’s not all US people that are using this. Nigeria has per capita more Bitcoin users than the US. I get it. Your money is safe in FDIC insured banks. There are billions of people that don’t have this luxury. This is for them. And you, if you don’t trust those banks.
mike_d 5y ago
> Sure, if it were agreed upon, backed by some real value and not solely speculation, and rather stable. So like Tether, TrueUSD, or Diem? Backed by fiat currency and commercial paper. Or do you mean like Digix where each coin is backed by 1 gram of gold?
- silisili 5y ago
  Honestly, it's a start. There's some inherent value, and Visa even announced settling via USDC which I found interesting, given how conservative the big guys are.

randomhodler84 5y ago

If you are talking banks and checks, you are missing the point entirely.. In 2013 the Cyprus government confiscated 47.5% of all bank deposits above €100,000. Let that sink in. Banks are the last place you want to trust your life savings.

silisili 5y ago
Perspective. That figure is for a single bank, on uninsured deposits. Let's not forget it was all quasi legal tax games anyways. If I as a US citizen have to run away from my house, the banks have stolen all the money, what good is Bitcoin going to do? At that point it's all out anarchy, and good luck finding a computer much less electricity. And assuming you find both, what in the world are you even hoping to buy? And if you're thinking of those in other countries with less protections and stability, fair enough, but those aren't the ones speculating and getting rich off this scheme.
- randomhodler84 5y ago
  Maybe take a look at some of the distribution of coins. It’s not all US people that are using this. Nigeria has per capita more Bitcoin users than the US. I get it. Your money is safe in FDIC insured banks. There are billions of people that don’t have this luxury. This is for them. And you, if you don’t trust those banks.

mike_d 5y ago

> Sure, if it were agreed upon, backed by some real value and not solely speculation, and rather stable. So like Tether, TrueUSD, or Diem? Backed by fiat currency and commercial paper. Or do you mean like Digix where each coin is backed by 1 gram of gold?

silisili 5y ago
Honestly, it's a start. There's some inherent value, and Visa even announced settling via USDC which I found interesting, given how conservative the big guys are.