Post
Topic
Board Economics
Re: Electronic Money vs. Physical Money
by
aeternus
on 10/01/2018, 22:57:44 UTC
Aren't they the same? Electronic money and physical money. You receive money through banks which then you can withdraw through atms that gives you your money in physical form. I think it becomes a misconception that cryptocurrency is the electrical money.
No they are not the same that is the biggest issue, a lot of people think it is the same because they can withdraw their money from an ATM but most money in electronic form is not even real it only exist in the balancing books of banks which they created out of thin air, if 10% of the people of the world tried to withdraw their money the whole system will crash in less than a day.