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. 😈
Gotta pay for wear and tear for one's car. It's just a business decision. Nothing personal.
I've ran into a few issues with VLC. That being said, I'd probably only ever replace VLC with WinAmp.
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
Oh I'm trying to suggest that like many technologies. The infancy of it is laced with people who are scamming others. Medicine had a go about with this phase as well; and to my understanding is now widely regarded as a "good move". Even if some dude use to sell cocaine mixed with alcohol and called it medicine because it made you feel better.
Like I said. It's the wild west in that sphere right now. No rules no nothing. But I also think that even the wild west was tamed over time. Meaning I'm not sure if it will stay so unregulated forever.
That may be true. To me, however, not all regulation are ethically or morally sound. I hear people in countries with corrupt governments can use these new fangled monies to avoid the regulations/sanctions put on their countries.
The example that comes to my mind was some guy in Turkey buying medicine. I guess Turkey isn't allowed to trade many countries because they government is corrupt? And this person was unable to get the medicine they needed in Turkey. Only way was to in port I guess? So they converted their local turkish currency to something the medicine maker would accept.
I can't really verify such claims but seemed like an alright "breaking of the rules".
Now a days we peer review medicine. As I mentioned, in the "wild west". There's no peer reviewing. The metaphor of the wild west was also pointing out the infancy of a technology. Another example could be how the "self driving cars" aren't actually that self driving. However I suspect that over time even those cars will actually become peer reviewed, functional and what not.
The example that I saw that I liked the best was video games. Just because someone sells bad video games. Doesn't mean all video games are a scam. Ya, know?
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.
Oddly enough lots of people do mess with V-Bucks for FortNite, Riotpoints for League of Legends, and/or CoD points for Call of Duty. Damn you chucky cheese money in my video games!
The government closed the gold standard at once didn't they? Who is to say they cannot not do the same and say physical paper money?
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.