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This is brilliant. I really want crypto to fade away out of existence and into irrelevance, FedNow is coming soon and we don't need crypto or shady crypto exch
by colesantiago 3y ago
This is brilliant.
I really want crypto to fade away out of existence and into irrelevance, FedNow is coming soon and we don't need crypto or shady crypto exchanges like Binance.
Glad to see the US taking action.
- zarzavat 3y ago95% of people don’t have a bank account in the US.
- misnome 3y ago100% of people don’t have a venusian bank account in the US
- lern_too_spel 3y agoThat sentence is not saying the same thing. The equivalent would be 100% of people don't have a bank account on Venus.
- deleted 3y ago[deleted]
- dgfitz 3y agoand 77.34% of statistics are made up on the spot. https://www.federalreserve.gov/publications/2019-economic-well-being-of-us-households-in-2018-banking-and-credit.htm https://www.federalreserve.gov/publications/2019-economic-we... 6%
- JumpCrisscross 3y agoParsed generously, 94% of Americans is about 300mm people. That's 4% of the human population. (It's a nonsense argument nonetheless: it's not America's job to bank the world.)
- dgfitz 3y agoI commend you taking a generous view of that, as I was unable to with a straight face. Agree with your second comment.
- zarzavat 3y agoGP said essentially that they hoped crypto would fade away because FedNow is coming and will make it irrelevant. My point was that the vast majority of people don’t have a US bank account and so FedNow is in fact irrelevant, except to the 5% of people who can access it. I didn’t expect the parse with the comma inserted before “in the US”, because it’s obviously absurd to say that only 5% of Americans have a US bank account.
- nickpinkston 3y agoMost Americans have a bank account: "According to the report, 81% of adult Americans are fully banked, 13% are underbanked, and 6% are unbanked. The share of Americans with each banking status in 2021 remained almost constant from 2020." https://usafacts.org/articles/who-is-the-least-likely-to-have-a-bank-account-in-the-us/ https://usafacts.org/articles/who-is-the-least-likely-to-hav...
- Arcuru 3y agoThat accounts for the 5% of humans who live in the US, how about the 95% of humans who don't?
- misnome 3y agoIf you read the thread to which you are replying, it’s about the US.
- mtlmtlmtlmtl 3y agoWhy would anyone suggest only 5% of Americans have bank accounts? How is it possible to believe that and still know English and go to HN, do you think?
- colecut 3y agoThe bank accounts are about the U.S., not the people.
- mtlmtlmtlmtl 3y agoWhat GP is saying is that most people in the world do not have an account located in the US specifically. I seriously doubt they're saying 95% of Americans don't have a bank account, which would be absurd.
- nickpinkston 3y agoYea, I was anchoring on the article that was US focused.
- infamouscow 3y ago[flagged]
- gopuck16 3y agoThat your feeling without specifying any factual data
- ipaddr 3y agoNot having a bank account is a race issue? People who are not white cannot get a bank account? Poor people can't get a bank account and all non-white are poor therefore bank accounts are racist? What is your message?
- misnome 3y agoI don’t know specifically what they intend their message to be but I would 100% bet it involves something they would describe as “Globalist Bankers”.
- tick_tock_tick 3y agoIt's the same argument they make with voter ID laws; non whites are too stupid to successfully get an ID / open a bank account / etc. It's some of the most racist rhetoric I've ever seen but somehow it's pitched as "anti-racist".
- Sohcahtoa82 3y agoIn 2011, Alabama passed a strict voter ID law. Then, in 2015, Alabama closed DMVs in predominantly black counties, making it hard for black people to get IDs. It took a federal probe to force Alabama to reverse the decision to close the DMVs. https://www.vox.com/policy-and-politics/2017/12/12/16767426/alabama-voter-suppression-senate-moore-jones https://www.vox.com/policy-and-politics/2017/12/12/16767426/... Personally, I think we'd be better off with the vote-by-mail system that Oregon and Washington use.
- Detrytus 3y agoyes, it is a common theme among the "woke": Black people score lower on school math tests, therefore math is racist.
- alphanullmeric 3y agoCBDCs are exactly why crypto will always be around. Spying on other people’s money is not a basic human right.
- bcrl 3y agoEh? Every single bitcoin transaction is publicly visible to anyone that looks for it in a way that bank account transactions are not. Correlating transactions with an individual is not exactly difficult if you're determined. It's downright easy if you get the other party to accept a payment from you.
- angry_albatross 3y agoFedNow is not a CBDC. https://www.federalreserve.gov/faqs/is-fednow-replacing-cash-is-it-a-central-bank-digital-currency.htm https://www.federalreserve.gov/faqs/is-fednow-replacing-cash...
- JumpCrisscross 3y ago> CBDCs are exactly why crypto will always be around CBDCs aren't on the table in America anymore. They were a stupid workaround to our political opposition to postal banking.
- KptMarchewa 3y agoCBDC won't have to do anything with "blockchain" and will be a regular relational database.