VISA is backed by physical currency
It is backed by fiat currency, but AFAIK the lion's share of USD moves around digitally; the physical bills and coins cover only a small proportion of the amount in circulation. Most of it exists as nothing more than numbers on balance sheets.
> VISA is backed by physical currency
It is backed by fiat currency, but AFAIK the lion's share of USD moves around digitally; the physical bills and coins cover only a small proportion of the amount in circulation. Most of it exists as nothing more than numbers on balance sheets.
Yes, as I stated, "even if that currency is only such by fiat."
It is still currency and still spendable worldwide.
Bitcoin is barely accepted online, let alone spendable in the real world. Come see me when you can pickup your groceries, pick up the dry cleaning, get gas, and finally stop for a slurpee at 7-11 and only spend bitcoin.
Yes, as I stated, "even if that currency is only such by fiat."
It is still currency and still spendable worldwide.
Bitcoin is barely accepted online, let alone spendable in the real world. Come see me when you can pickup your groceries, pick up the dry cleaning, get gas, and finally stop for a slurpee at 7-11 and only spend bitcoin.
VISA is backed by physical currency, even if that currency is only such by fiat, it's still real currency.
Bitcoin will never succeed as the "dream" currency. Its previous anonymity is gone, so much of the cool factor is also missing. All your transactions are subject to governmental scrutiny and now they're being monitored for tax purposes.