This sounds good to me. To my understanding, banks in the US do not actually have to hold any money in reserve for it’s customers as of… 2020?
Hey I found the FED posting! https://www.federalreserve.gov/monetarypolicy/reservereq.htm
This is my favorite part “As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.”
Happy Halloween kids. 😈
Damn. I guess this is why we can’t have nice things.
I guess I’ll take this opportunity mention if one cannot make a monetary donation to IA. You can always help them out by help seed some of their torrents. I’d appreciate it at least :P
For clarification. To my understanding, the older cryptographic currencies use an immense amount of power (Proof of Work). But newer models have solved that issue by switching to a Proof of Stake model instead.
When the Wild West was around Medicine was used as a scam too. Snake Oil salesmen aren’t very nice people. But that doesn’t mean medicine is a bad idea ya know?
I agree that there are a lot of snake oil sellers in the cryptographic currencies realm. But that world is basically the digital wild west at the moment to me. I too am waiting to see what happens.
The top one looks like light coming through closed shades. Kind of makes me of how think about how many people see a similar view before they get out of bed.