Re:Bitcoin Sees Wall Street Warm to Trading Virtual Currency
by Fomite on Tuesday May 08, 2018 @12:51AM
(#17018903)
I've always thought the Bitcoin use-case (admittedly from a subset of Bitcoin users) of "Complete collapse in the banking system" but somehow the internet still works without issue was...somewhat tenuous.
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Re:Bitcoin Sees Wall Street Warm to Trading Virtual Currency
by sparkie on Tuesday May 08, 2018 @07:30AM
(#17020206)
It's not a collapse of all banking systems, but the fiat money system which is dictated by central banks (which are mostly private entities, not government bodies).
It means when governments want to borrow more money, their lenders actually need to have the liquidity available and can't just magic it out of thin air.