Trooper on Nostr: Cash is NOT king, it's an IOU If cash were an IOU for bars of gold, you might think ...
Cash is NOT king, it's an IOU
If cash were an IOU for bars of gold, you might think you could withdraw a load of cash from an ATM, walk down to the Bank of England, and redeem your gold.
WRONG.
You can no longer exchange banknotes for gold; this has not been possible since the early 1930s.
An IOU is defined as 'a signed document acknowledging a debt.'
So next time you think cash is king, just remember you're essentially showing off all the debt you hold.
These days ONLY #Bitcoin fixes this centuries old counterfeiting operation!
#stacksats #BeHealthy #LiveGood 🍀
If cash were an IOU for bars of gold, you might think you could withdraw a load of cash from an ATM, walk down to the Bank of England, and redeem your gold.
WRONG.
You can no longer exchange banknotes for gold; this has not been possible since the early 1930s.
An IOU is defined as 'a signed document acknowledging a debt.'
So next time you think cash is king, just remember you're essentially showing off all the debt you hold.
These days ONLY #Bitcoin fixes this centuries old counterfeiting operation!
#stacksats #BeHealthy #LiveGood 🍀