lightpole posted:

The assumption that digital currency is crypto currency is bitcoin is a bad one. Bitcoin is crypto is digital but the reverse is not necessarily true.

Normal currency has drawbacks that a central bank may not be a fan of. It can be easier to hide and move unseen or diverted on the way. In countries with corruption, accounts in citizens name with direct central bank transfers could cut down on this diversion.

As it is, everything is moving away from physical currency anyways. There is very little reason to carry cash unless you travel overseas. The advantages digital offers to central banks would make a digital currency inevitable if it came with greater control and visibility.

Finally, yes, a digital or crypto currency can offer visibility. Blockchain was invented to establish the identity of two entities anonymously and spread that through the system but that doesnt mean the anonymous part needs to remain. The biggest actual uses for it in the real world would be in places that require an extreme amount of trust, such as digital bank to bank transfers.

Just because you can't see outside of your box doesn't mean the rest of the world isn't looking.

maffew buildings posted:

Crypto is disruptive technology that will empower everyday people in ways traditional finance never will. Now let me tell you about how billionaire's going on suborbital joyrides and not paying taxes is critical and momentous for mankind's future and also how women pose a danger in the workplace if they're attractive

CainFortea posted:

Actually the biggest use of crypto seams to be to turn coal into solved sudokus.

boop the snoot posted:

this was in Worthington, PA



Worthington, PA’s demographics really show why they are concerned about this:

Population est 2019: less than 600 people.

The racial makeup of the borough was 99.10% White, 0.26% African American, 0.13% Asian, 0.13% from other races, and 0.39% from two or more races. Hispanic or Latino of any race were 0.26% of the population.

Lemniscate Blue posted:

It's too early to run through the math but with percentages that are multiples like that you can just tell that there are exactly two African American people, one Asian person, etc.

One wonders at their stories.

TheWeedNumber posted:

I thought it was to turn drugs into money.

FrozenVent posted:

Do y’all think that banks send each other suitcases of cash back and forth?

Currency went digital decades ago, and it doesn’t involve proof of work.

Crab Dad posted:

Uh…. They do? It’s like the whole purpose of the armored truck industry.

Crab Dad posted:

Uh…. They do? It’s like the whole purpose of the armored truck industry.

Crab Dad posted:

Uh…. They do? It’s like the whole purpose of the armored truck industry.

boop the snoot posted:

I don’t think crypto is ever going anywhere and I’ve been waiting for the great reckoning for crypto that SA has continuously promised longer than I’ve been waiting for Donald Trump to not be able to wriggle his way out of something.

FrozenVent posted:

Cash is a tiny, tiny proportion of interbank transactions. Like vanishingly small.

It’s all wires nowadays, and those are done over the internet. There’s still some amount of manual work involved, because when you’re moving a billion dollars, you really want to take the time there’s no typos.

FrozenVent posted:

Cash is a tiny, tiny proportion of interbank transactions. Like vanishingly small.

It’s all wires nowadays, and those are done over the internet. There’s still some amount of manual work involved, because when you’re moving a billion dollars, you really want to take the time there’s no typos.

boop the snoot posted:

this was in Worthington, PA



Worthington, PA’s demographics really show why they are concerned about this:

Population est 2019: less than 600 people.

The racial makeup of the borough was 99.10% White, 0.26% African American, 0.13% Asian, 0.13% from other races, and 0.39% from two or more races. Hispanic or Latino of any race were 0.26% of the population.

Here’s a couple of others:





There were more. I saw one about China being to blame for COVID and one about how you have a choice to not be vaccinated.

There might have been even more but I was at a light and it turned green and I wanted to leave Worthington, PA.

boop the snoot posted:

this was in Worthington, PA



Worthington, PA’s demographics really show why they are concerned about this:

Population est 2019: less than 600 people.

The racial makeup of the borough was 99.10% White, 0.26% African American, 0.13% Asian, 0.13% from other races, and 0.39% from two or more races. Hispanic or Latino of any race were 0.26% of the population.

Crab Dad posted:

The amount may be tiny on paper but it’s still a huge amount in practice.

EBB posted:

Midjack posted:

A small fraction of a ridiculously large number is still huge.

CRUSTY MINGE posted:

Isn't a lot of cash just sitting around at federal reserve banks and vaults, and they just change the name on who owns what pile as money shifts from bank to bank?

I seem to remember this kinda being the case.

piL posted:

Some of the appeal of crypto is the promise of a currency not tied to state power.

US Berder Patrol posted:

actually it's piles of gold bars as I learned from the film Die Hard: With a Vengeance

CRUSTY MINGE posted:

Isn't a lot of cash just sitting around at federal reserve banks and vaults, and they just change the name on who owns what pile as money shifts from bank to bank?

I seem to remember this kinda being the case.

Milo and POTUS posted:

Wait I thought he went to Germany at the end or was that an alternate ending

quote:

An alternative ending to the one shown in the final movie was filmed with Jeremy Irons and Bruce Willis, set some time after the events in New York. It can be found on the Special Edition DVD. In this version it is presumed that the robbery succeeds, and that McClane was used as the scapegoat for everything that went wrong. He is fired from the NYPD after more than 20 years on the force and the FBI has even taken away his pension. Nevertheless, he still manages to track Simon using the batch number on the bottle of aspirins and they meet in a bar in Hungary. In this version, Simon has double-crossed most of his accomplices, gotten the loot to a safe hiding place somewhere in Hungary, and has the gold turned into statuettes of the Empire State Building in order to smuggle it out of the country; but he is still tracked down to his foreign hideaway. McClane is keen to take his problems out on Simon, who he invites to play a game called "McClane Says". This involves a form of Russian roulette with a small Chinese rocket launcher that has had the sights removed, meaning it is impossible to determine which end is which. McClane then asks Simon some riddles similar to the ones he played in New York. When Simon gets a riddle wrong, McClane forces him at gunpoint to fire the launcher, which fires the rocket through Simon, killing him.[16][17]

In the DVD audio commentary, screenwriter Jonathan Hensleigh claims that this version was dropped because the studio thought it showed a more cruel and menacing side to McClane, a man who killed for revenge rather than in self-defense. The studio was also displeased with the lack of action in the scene, feeling that it did not fit as a "climax" and therefore chose to reshoot the finale as an action sequence at a significant monetary cost. Hensleigh's intention was to show that the events in New York and the subsequent repercussions had tilted McClane psychologically. This alternative ending, set some time after the film's main events, would have marked a serious break from the Die Hard formula, in which the plot unfolds over a period of roughly 12 hours.[17]

According to the DVD audio commentary, a second alternative ending had McClane and Carver floating back to shore on a makeshift raft after the explosion at sea. Carver says it is a shame the bad guys are going to get away; McClane tells him not to be so sure. The scene then shifts to the plane where the terrorists find the briefcase bomb they left in the park and which Carver gave back to them (in this version it was not used to blow up the dam). The film would end on a darkly comic note as Simon asks if anyone has a four-gallon jug. This draft of the script was rejected early on - possibly due to the similarity of the ending to Die Hard 2, where all the villains board a plane that later explodes - so it was never actually filmed. The rocket-launcher sequence was the only alternative ending to be filmed.[17]

FrozenVent posted:

In some cases yes, but nowadays it’s mostly a database type deal. I like to think it’s one big excel spreadsheet.

It’s entirely possible for, say, Royal Bank of Canada to borrow a billion from the Bank of Canada, sell that billion CAD for 800 million USD to the Royal Bank of Scotland who loans it to Lloyd’s Bank to disburse as a loan to ABC Constructions to buy a parcel of land from XYZ Holdings without a single paper dollar moving.

This happens inside of a few hours, at most, and could be automated in theory.

FrozenVent posted:

Not really, bank “reserves” are pretty much digital nowadays.

A mid sized bank is swinging billions of dollars back and forth every day, there’s no way the physical currency could keep up.