Yes, and if someone hacks your account and digitally wipes it out and all record of it, you have what exactly?
I agree. What if it is the government that confiscates your money so it can “redistribute it”, i.e., buy votes? No thank you!
“if someone hacks your account and digitally wipes it out and all record of it, you have what exactly?”
Perversely, it works to your advantage: no debt.
Digital currency is “debt currency”. Starting from the Federal Reserve and their “(1) + (-1) = 0” bookkeeping techniques, digital currency is a chain of who owes value to whom. If your bank account is 0, then you don’t owe any value to anyone.
This is different from classical currency, where the physical unit of currency is imputed with inherent value.
As is now, we have a mixed economy, so that $1 in your checking account is partly positive value and part debt. Too screwed up to address in a casual post.
At least that’s how I’m viewing it.
Yes, and if someone hacks your account and digitally wipes it out and all record of it, you have what exactly?
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Rich politicians and their donors.