Reply to post:

$67M in bitcoin stolen as hacking typhoon lashes Hong Kong's Bitfinex

patrickstar

Banks and government do no such thing. Gold reserves cover a very small fraction of the currency in circulation. Even then, banks in turn only keep around 10% or so (depending on regulation and accounting standards/tricks) of the already virtual money on "your" account actually around - the rest is being loaned out.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2019