How does the world's money stay protected?

[shadow_operative 15932]

I've read that something like 33% of the world's money is physical, eg paper and coins, while the other 2/3 of it is pretty much just numbers on a screen somewhere. How do we protect that? What stops some super hacker from sending the entire world into a global recession by manipulating this "money"? A stupid question I'm sure, but i'm genuinely curious/clueless. 

[52-80 19373]

The blockchain duh

[Incredulity 11861]

12345 isn't an adequate banking password

[52-80 19373]

45 minutes ago, Incredulity said:

12345 isn't an adequate banking password

safest way to guard against theft of ones bank account is to not have any money

[ztejas 44114]

Pm derka. Oh wait...

And there's no way a third of the world's capital is held physically. I thought it was something more like 10% - but that could have been a USD figure.

[MissingInAction 25485]

Token ring network. 

[bernorange 8385]

Replace "super hacker" with "central bank".

[next2naus 439]

currency or "money" in the royal sense?

 

Currency: approx 8% is physical. How is the digital aspect protected? depending on what "it" is, many different ways. the easy answer is access controls and crypto data protection. For you as a consumer tapping your iphone at the store and payment happening via a payment card "on the device"? usually via tokenization or a device specific cryptogram, lots of ways. 

 

[Brisketexan 106641]

Ya gotta have a fella ridin' shotgun....

[deadshank 24654]

43 minutes ago, 52-80 said:

safest way to guard against theft of ones bank account is to not have any money

My wife has made it her life’s work to ensure this outcome for me.  
 

So far so good.  

[52-80 19373]

13 minutes ago, MissingInAction said:

Token ring network. 

 

[cam4mav 772]

it's a connected chain of IOU's

[Guest]

[South Austin 53156]

Best thing to do is convert all of your money to coins and deposit that into Citiwide Change Bank. 

[Guest Lobo]

But can they handle special requests for birthday cards and such?   And can they do it on the same business day?

[Upgrayedd 5861]

It's piss

[BabaYaga 15532]

The first rule is.....

[Don Johnson 4803]

2 hours ago, Incredulity said:

12345 isn't an adequate banking password

[BabaYaga 15532]

Or just do what the Fed's doing now...."print" more of it out of thin air......

[Wally Fairway 5664]

1 hour ago, 52-80 said:

safest way to guard against theft of ones bank account is to not have any money

[52-80 19373]

39 minutes ago, BabaYaga said:

Or just do what the Fed's doing now...."print" more of it out of thin air......

I should sell printers .

[atomheartbevo 90550]

1 hour ago, MissingInAction said:

Token ring network. 

With OS/2 on a Token-ring network running everything - hackers can't break into a system they've never heard of!

[MissingInAction 25485]

Shit I think the DoD still operates on a Unix backbone because it never breaks.

[jeevsie 3781]

2 hours ago, Brisketexan said:

Ya gotta have a fella ridin' shotgun....

That, my friend, is a rifle, not a shotgun.

Sheesh.

[Brisketexan 106641]

2 minutes ago, jeevsie said:

That, my friend, is a rifle, not a shotgun.

Sheesh.

Yeah, I know., but it's from the official Wells Fargo collection, so I went with it.

[Continental Op 3934]

Everyone invests half of it in low risk mutual funds and then takes the other half over to their friend Asadulah who works in securities.

[52-80 19373]

3 minutes ago, Continental Op said:

Everyone invests half of it in low risk mutual funds and then takes the other half over to their friend Asadulah who works in securities.

This is the way

[Guest]

3 hours ago, Brisketexan said:

Yeah, I know., but it's from the official Wells Fargo collection, so I went with it.

so the guy had an account for a shotgun, but never actually received the shotgun.

[Sbbruin 22082]

I don't know the answer to the OP, but I do have an OCD checking bank and equities accounts daily, and often multiple times daily.  For that very reason.  Right now they are just numbers on my screen.  I just want to know they can becomes stacks on stacks on stacks should the need arise.

[MissingInAction 25485]

If you haven't dumped your entire portfolio into Gritty merch futures then you just dont know wtf you're doing. 

[troph 25098]

I’ll admit to wondering the same thing. I’ve always assumed if I had account statements I could raise hell but if everyone loses their money in a security glitch it won’t make a shit.

[washparkhorn 9967]

In our sphere of influence, the US Military is the big stick in the arsenal we deploy protecting wealth. 

Having the preferred sovereign currency come with responsibility. 

 

Edited November 18, 2020 by washparkhorn

[BabaYaga 15532]

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[Incredulity 11861]

saggy man boobs...

[Captainant 28410]

22 hours ago, shadow_operative said:

I've read that something like 33% of the world's money is physical, eg paper and coins, while the other 2/3 of it is pretty much just numbers on a screen somewhere. How do we protect that? What stops some super hacker from sending the entire world into a global recession by manipulating this "money"? A stupid question I'm sure, but i'm genuinely curious/clueless. 

If you want a real answer lol, ledgers are kept on Write One, Read Many (WORM) systems which effectively act as an irrevocable trusted ledger. Access and modifications to sources of record like that are controlled and limited through use of encryption for data access and assurance.

It's basically math (encryption) on top of typical operational security measures like least privileged access and HEAVY auditing for irregularities