Obviously they can print it and give everybody their 250,000 back or whatever and if they do such then we will have hyperinflation like nobody’s business and the 250k you get back will be not worth the paper it’s printed on so to speak it won’t be worth shit
Cash by mail for getting in w/o a bank and giftcard services for groceries. I try when possible to seek out people who will take Monero on https://xmrbazaar.com and prioritize buying from them before resorting to a giftcard. My options for direct purchases are expanding slowly but surely. Having less than 1% inflation and falling helps too.
Edit: Monero will never have over 1% inflation again
From what I’ve heard, we have about 4,000 banks and so most of those are going to be smaller regional banks. We only have a few big ones that take up most of the news cycle.
I don’t know a whole hell of a lot about the UK, so I will speak to the US. When the Federal Reserve raised interest rates, it has put tons of pressure on the commercial real estate office sector and has put serious pressure on most all of the regional banks. Your JP Morgan and your Wells Fargo are decently alright. But your local town banks are absolutely hurting. And enough of those very well could go bust to cause major issues. JP Morgan going down would be slicing an artery, but all these little banks going down would be death by a thousand cuts. You end up dying either way. It’s just how quick does it happen?
We supposedly have $250k, but the FDIC has 1% of the money they say they cover. A very few big banks or many small banks fail and the FDIC is broke and the money would have to be printed by the fed and cause hyperinflation. I bet your regulator has only a small percent too.
Putting your money in a bank is just a conditional IOU from the bank to you. In other words, it’s no longer your money and they don’t have to give it back to you if they don’t want to. Monero solves this.
Good for her. These goons need to be shit on more often.
Take a look at Thunder. It has had notifications for quite a long time. They are delayed by 15 minutes, but that’s nothing compared to not getting notifications at all.
Base money supply actually. There are 18.4 million units as a soft cap and then from then on every two minutes point six new Monero exist. This is to replace those lost through loss of private keys, etc. But is low enough inflation to keep the supply from massively growing and losing value.