| | | Corporations issuing money mean the same thrashing that happens with the stock market could come to your personal currency. Imagine going to sleep on a Friday with the equivalent of a million dollars in currency issued by Bear Stearns, Enron, and Washington Mutual, and waking up the next day broke.
And the big secret about encrypted currency is it can be stolen, and it won't just be hackers, but corporations, governments, people from the NSA or MI-6, etc.
I run a web site that is very very simple. You wouldn't believe how many members cannot even send themselves a password reminder from the login page. How will that group, which is about half of America, will manage an encrypted, digital currency?
Or the leave their phone on the cafe table, and access to their money is by the phone with memorized passwords. And they have no screen lock...
Still... I am in favor of a transnational currency of some kind, even if it is akin to a cache (like a Euro ETF, say), for protecting myself while leaving those funds highly liquid.
And of course gold can be stolen, either from your home, or from a safe deposit box, too. There's no completely risk free alternative.
Imagine what's coming here, though -- digital US currency, which you must keep in the bank where they can steal it as a 'bail in' and they also tax it every month. One simply could not design a better system for stamping out all savings, eh? |
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