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this coinslop means less bankslop which is actually an improvement, they're undoubtedly baking their "dollar" with tbills and they get to make 4 percent on ever
by chews 1y ago
this coinslop means less bankslop which is actually an improvement, they're undoubtedly baking their "dollar" with tbills and they get to make 4 percent on every dollar transacted with no counterparty risk besides the full faith and credit of the US Government.
- margalabargala 1y ago> means less bankslop which is actually an improvement Why is the standard tied directly a single for profit company an improvement to the system that isn't tied to any specific wntity and anyone can use?
- bigyabai 1y agoPresumably because it's really super duper convenient for the single for-profit entity that possesses an outstanding majority of the minted coinage. Woohoo! I freaking love coinslop!
- chews 1y agoyay for coinslop! transparent usage of currency by robots... no way is it better than a bunch of rolled up swift transfers/wires..... coinslop not routed through the bankslop rail is still an improvement.
- margalabargala 1y ago> no way is it better than a bunch of rolled up swift transfers/wires I non-sarcastically agree. What's wrong with same day ACH? The risk of having the money be not in a FDIC bank makes this a nonstarter.
- codezero 1y agoHow much of it is insured?