October 29, 1929 is marked as the day the US stock market “crashed,” the first falling brick in the Great Depression. Know more:
October 29, 1929 is marked as the day the US stock market “crashed,” the first falling brick in the Great Depression. November 2022 will be looked on in the financial markets in commemoration of the multibillion-dollar failure of the FTX crypto and its FTX coin or token.
“Crypto” is backed by the full faith and credit of the user who believes—not actually “knows”—that he can covert that token to paper money at any time. Nonetheless, governments are keenly interested in creating their own form of “Bitcoin,” which are called Central Bank Digital Currency . We use “digital money” all the time from paying with a bank debit card or using services such as GCash. It is important to note that “credit cards” are not digital cash. With a debit card or a GCash service, paper money has been deposited into the account previous to the transaction. A credit card “creates” new money when you use that type of payment.
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