Recent stats indicate that around a third of domestic USD transactions are done in cash. This means that two thirds of USD payments in the USA are made via electronic payment systems. Furthermore, this means that no paper money changes hands, the paper money to "back" and settle those transactions likely does not exist. And when the USA Federal Reserve "prints" money via quantatitive easing, they're really just adding to the electronic fiat supply.
If and when cash is made illegal, or cash accounts for such a small percentage of total financial movements as to be insignificant, USA citizens will be using only a Fed version of Ripple (which, as most here know, is basically a premined corporate electronic Funbux token). And they're already trusting this "Fripple" shitcoin as if it's real money, when the supply can theoretically be inflated infinitely, without warning. Not to mention everyone's balances, full transaction history, and personal data are completely compromised, and their "money" can be frozen at any time for any reason.
What remains to be seen is how long it will take people to see the difference between Fripple and real cryptocurrencies, which allow permissionless payment, without the arbitrary inflation and seizure risks.
[link] [comments]
source https://www.reddit.com/r/btc/comments/dv6jza/shower_thought_us_dollar_is_actually_quite/
Comments
Post a Comment