Posted on 02/11/2021 8:10:10 AM PST by amorphous
Bank of New York Mellon Corp. , the nation’s oldest bank, is making the leap into the market for cryptocurrencies.
The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers’ other, more traditional holdings—from Treasurys to technology stocks—using a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.
“Digital assets are becoming part of the mainstream,” said Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses.
(Excerpt) Read more at wsj.com ...
Banks remove a large disability crypto has for average peoples: Complexity.
How much money do I have in the bank this week?
“On May 22, 2010, programmer Laszlo Hanyecz completed the first documented commercial Bitcoin purchase, paying 10,000 for two Papa John’s pizzas. Valued at $41 at the time, current market pricing today gives the purchase a $92.5 million price tag.”
Stability hinges on the number of those who own a thing.
And when ALL the Electricity goes out permanently in the near future, what happens with the electronic money??
Elon Musk is now going to take bitcoin for his Teslas.
But so does civilization.
My wife and I bought nice electric bikes with BTC a few years ago. If we’d waited, we could have had a new Tesla for the same amount of BTC. Who knew? Lol
Jerky, ammo, whiskey for barter.
And when ALL the Electricity goes out permanently in the near future, what happens with the electronic money??
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It’ll probably take a crap just like paper money would if all the electricity were to go out permanently.
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