The vast majority of paper dollars deposited at a bank don’t physically stay in a bank in a vault. It is transferred into digital and held in the bank’s database. It is mostly digital. The “base” of the fiat system is US Treasury bonds, debt.
Cash is probably the closest thing to Bitcoin that exists in fiat, but it’s just pieces of paper that only cost a few cents to produce in paper and ink. Bitcoin costs a significant amount in energy and equipment to produce.
/ Zombie Node
npub1mc…6jl9u
2024-05-05 20:44:21
in reply to nevent1q…8kf4
Author Public Key
npub1mcas3khfvh9q8td90f6layaykma94r47md36nx78vwwg0lc4uaks76jl9uPublished at
2024-05-05 20:44:21Event JSON
{
"id": "f867a7826e648e3b09f5c66eb6149e22a102aa3a37e10e667623198d6cc79fd9",
"pubkey": "de3b08dae965ca03ada57a75fe93a4b6fa5a8ebedb63a99bc7639c87ff15e76d",
"created_at": 1714941861,
"kind": 1,
"tags": [
[
"e",
"989b84e6fe905b4efa391d26df588579fe041389dbeaa8872878a3a93366cea3"
],
[
"p",
"32e1827635450ebb3c5a7d12c1f8e7b2b514439ac10a67eef3d9fd9c5c68e245"
],
[
"p",
"8fc2d2c705200eb2899d51afa6619ea0860041cb33cec4c2f569537bf2fd62f6"
]
],
"content": "The vast majority of paper dollars deposited at a bank don’t physically stay in a bank in a vault. It is transferred into digital and held in the bank’s database. It is mostly digital. The “base” of the fiat system is US Treasury bonds, debt.\nCash is probably the closest thing to Bitcoin that exists in fiat, but it’s just pieces of paper that only cost a few cents to produce in paper and ink. Bitcoin costs a significant amount in energy and equipment to produce.",
"sig": "487890289366095a25bed621faa5b37e928e8018bcb79b60adc69a04bf4c0660db94275c2fa4027d16cd8c33b120a7fa0dcf65176130404f9f7f30a7623b47d0"
}