Bitcoin first came out in 2008, and my freind begged me to spend $300.00 on bitcoin
I had no idea BTC existed until it was around $1000
gave away the majority of them on various platforms to people who were needy in other countries.
One of the great things about STEEM/HIVE/BLURT is that you don't even have to spend anything to give away. I can simply vote on people like @cryptopie regularly and show my support. I recently managed to onboard 2 users because I had claimed accounts. I just made 2 accounts on STEEM and HIVE and sent the users private keys. It barely took any time and they didn't have to provide anyone anything in money or even E-mail.
which allows banks to lend 10X their actual holdings in the form of mortgages and auto loans, etc
That is actually one of the better cases. Many countries don't even have a reserve requirement: https://en.wikipedia.org/wiki/Reserve_requirement
Im leaving my fraction of a Bitcoin alone in coinbase, hoping that it soars to half a million, so I can pay off the remainder of my mortgage ($70,000) and $15k line of credit
Best of Luck! You deserve that. I'm all in on altcoins. I post a lot on https://leofinance.io/@vimukthi You might even have a good time at https://next.d.buzz where you can share short form content. You can use your STEEM private keys for both HIVE DAPPS and Blurt: https://blurt.blog/@marcoagarcia3rd (you've got me as your 1st follower there) You can try reposting your best content back on BLURT. They transferred account balances but not post history or followers there.
Vimukthi. Look me up if youre ever in Florida.
Thank you! I'm honored :-)
Reserve requirement
The reserve requirement (or cash reserve ratio) is a central bank regulation that sets the minimum amount of reserves that must be held by a commercial bank. The minimum reserve is generally determined by the central bank to be no less than a specified percentage of the amount of deposit liabilities the commercial bank owes to its customers. The commercial bank's reserves normally consist of cash owned by the bank and stored physically in the bank vault (vault cash), plus the amount of the commercial bank's balance in that bank's account with the central bank.
The required reserve ratio is sometimes used as a tool in monetary policy, influencing the country's borrowing and interest rates by changing the amount of funds available for banks to make loans with.
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