ZenOps
04-30-2016, 04:51 AM
Should money be real?
hcHmxQ-fnpc
Throughout most of modern banking, even up to about 1933 it was generally accepted to have $10 of real assets for every $100 deposit in a bank.
The argument for completely virtual money is that the vast majority of people will spend in the 1/4 second after they receive it anyhow, so having real money is just a cumbersome waste of effort.
hcHmxQ-fnpc
Throughout most of modern banking, even up to about 1933 it was generally accepted to have $10 of real assets for every $100 deposit in a bank.
The argument for completely virtual money is that the vast majority of people will spend in the 1/4 second after they receive it anyhow, so having real money is just a cumbersome waste of effort.