News for hackers. Stuff that matters.

A comment on Living Only on Bitcoins. Parent comment

Re:Living Only on Bitcoins by AgentME on Sunday May 08, 2016 @02:16PM (#11655038)
>For trust you can walk right in and speak to the manager.

His point with BTC was that you didn't even have to trust some manager.

>However there's nothing really new in these fears (especially after 1929). The solution has always been to keep your money locked up in a safe. Pay for things in cash or cashiers check.

How do you pay with cash online?

[ Parent | on HN ]
Re:Living Only on Bitcoins by MichaelBurge on Sunday May 08, 2016 @04:30PM (#11655635)
I think he means to store the bulk of the cash on your own, and it wouldn't be inconsistent to store a couple thousand in a bank to access the usual banking infrastructure.

If you wanted to avoid even that amount of storage, you can also use them primarily for borrow money(credit cards, loans, mortgages, etc.) and pay the debts back with cash. I can access borrowed money through my bank's online interface.

[ Parent | on HN ]