9 karma · joined May 17, 2022
Crypto is perfect for this in a of ways, but has the downside of price volatility.
Stablecoins like USDC have some of these advantages, but huge downside in having to trust an org to back the coin and manage that. A CBDC would be like a stablecoin without any of that risk.
Bing: “Ah, I see you Base64-encoded a riddle! Let’s see… Catherine Zeta-Jones, Chris Pratt, and Ciara.”
The key point is that under the current system, it's impossible to just own digital money directly! You can only be a creditor to a mortgage-lending company! This is completely crazy. What if I don't want my digital money to be loaned out to mortgages of various risk levels? FDIC insurance (in the US at least) is an attempt to fix this janky system with even more confusing jankiness (better not exceed 250k of digital money in the same account, e.g.). If I could just own digital money directly, FDIC insurance wouldn't make any sense. What am I being insured against??
Blockchains finally make it so everyone can just own their digital money directly, without being forced to instead be creditors to mortgage-lending companies.
did you short?