I am not even requiring any proof that they exist. I believe that the dollars only exist:
1.) in our heads
2.) in some position on the balance sheet of the bank
There is usually no “dollar position” - definitely not in a safe and usually not in a forex market (that would be expensive - swap either happens or not, that is not a position. a position would be future, but that has funding cost).
The balances that we see are actually same thing as DAI or LUSD, or Tether. I claim that there is no difference between these forms of dollars and most electronic dollars. Or no substantial difference. The only difference is payment network through which you can send it.
Juraj
npub1m2…lr8p9
2023-10-15 16:51:36
in reply to nevent1q…yh8j
Author Public Key
npub1m2mvvpjugwdehtaskrcl7ksvdqnnhnjur9v6g9v266nss504q7mqvlr8p9Published at
2023-10-15 16:51:36Event JSON
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"content": "I am not even requiring any proof that they exist. I believe that the dollars only exist:\n\n1.) in our heads\n2.) in some position on the balance sheet of the bank\n\nThere is usually no “dollar position” - definitely not in a safe and usually not in a forex market (that would be expensive - swap either happens or not, that is not a position. a position would be future, but that has funding cost).\n\nThe balances that we see are actually same thing as DAI or LUSD, or Tether. I claim that there is no difference between these forms of dollars and most electronic dollars. Or no substantial difference. The only difference is payment network through which you can send it.",
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