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Satosha 1y ago

When you deposit a dollar in a legacy bank - 10 cents go to your account ; 90 cents are loaned to others ..

But how do you still see one dollar in your account ? #askNostr

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micahcmiracle 1y ago

That assumes a 10% reserve. T

I'm prettt sure that's not longer a requirement.. so 100 cents is loaned.

You still see your dollar deposit because digital fiat is magic. It's just numbers on the screen.

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GFY 1y ago

YEP IT'S 0% NOW ...

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Satosha 1y ago

holly molly - you are right ! .. they removed all hold ups in 2020 in the name of Covid .. this is bigger than VacScam I guess :-)

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Satosha 1y ago

And yet they say stable dollars are bad ! I guess USDC has one to one collateral for every single dollar .. right ?