Replying to Avatar freeborn | ἐλεύθερος | 8r0gwg

currency held in institutions is no longer yours: you become a 'creditor' and your bank balance is really just an IOU

last I checked FDIC can only cover less than 2% of insured 'assets'

I would put it into bitcoin, self-custody it, and then not touch it for a few years at least

a.k.a., HODL
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Satosha 1y ago

I get the case for #bitcoin ..but if you are a company , you need to have bank deposits to make your payroll .. in that case .. I thought USDC is a better option than depositing in banks ..cuz USDC is backed one to one by dollars ..whereas Wells(or Chase IOU) dollar is only 10 % backed by USD .. in a way legacy banks deposit is super diluted dollar ..which in itself is ultra diluted #gold .. I mean corruption is unfathomable..

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freeborn | ἐλεύθερος | 8r0gwg 1y ago

I see your point...

The reserve requirement has been 0% since March 2020, so they don't even have 10%. And not a single dollar has been backed by gold...since August 1971. Yes--corruption, all the way down! 🤙