Interesting Comment by Bank of America's CEO Brian Moynihan

4 points by stevenj 8 years ago | 3 comments

He said: "Of the $53 billion in expenses we'll have next year, $5 [billion] will be to move coin, currency, and checks around the system."

Source at 1:41 [Video]: https://www.bloomberg.com/news/videos/2017-12-21/bofa-ceo-on-bitcoin-is-anonymous-currency-wanted-video

AnimalMuppet 8 years ago |

I knew a guy who was a pilot. His job was, literally, to fly checks around the country. A plane full of checks is a lot of money - enough money that a day's interest on it is more than the cost of using the plane to fly checks.

But this was maybe 10 years ago. At the time he said that his job was going to go away in a year or two because the banks were going to electronic settlement.

Top19 8 years ago |

Seems like that’s appropriate for a bank. Anyone else care to comment or share context?

matt_the_bass 8 years ago |

Value to weight ratio must make coin super expensive.