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/biz/ - Business & Finance

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22326013 No.22326013 [Reply] [Original]

>I’m too smart to fall for the biggest ponzi scheme ever. My 1s and 0s have REAL value!

>> No.22326103
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22326103

>tfw too smart tofall for the biggest ponzi scheme ever
MY PAPER DOES HAVE REAL VALUE AND THE BANKS DO HAVE MY MONEY SAFELY STORED

>> No.22326116

>>22326013
Imagine being so salty about missing the boat that you take time out of your life to make this dumb post. Lmaoooo

>> No.22326132

Since money is really just a representation of value, it didn't take long for people to realize they could just send information about money by telegraph or other electronic means, and it was just as "real" as sending the money itself. After World War II, banks would record information about the day's transactions onto large magnetic reels, which were taken to the regional Federal Reserve Bank. This system eliminated the need for the large denominations that were printed prior to the war to facilitate these large-scale transfers. Today, the $500, $1,000, $5,000, and $10,000 bills printed during this period are very rare, though some are still in circulation.

In fact, economists estimate that only 8 percent of the world's currency exists as physical cash. The rest exists only on a computer hard drive, in electronic bank accounts around the world.

https://money.howstuffworks.com/currency.htm#pt6

>> No.22326191

>>22326132
No way you wrote all that in 5 minutes.

>> No.22326390

>>22326191
How are you so fucking stupid?

>> No.22326410

delusional cryptocultists lmao