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Fedcoin Rising?
giulioprisco writes US economists are considering a government-sponsored digital currency. On February 3, David Andolfatto, Vice President of the Federal Reserve Bank of St. Louis, wrote a blog post based on a presentation he gave at the International Workshop on P2P Financial Systems 2015 [YouTube video]. The title of the blog post is "Fedcoin: On the Desirability of a Government Cryptocurrency."
That arbitrarily seizes cash left and right because it is deposited in "structured deposits"
What are you, some sort of kook? That never happens!
Taking guns away from the 99% gives the 1% 100% of the power.
1. This is fuckin dumb. Just dumb. High School Econ that nose picking morons need to graduate with a D average tells you that taxing commerce gives the government incentive to encourage commerce.
2. Nobody is suggesting that this would be an un-trackable currency. The long running joke that is bitcoin is proof enough of what happens when you can effectively execute transactions that have zero consequences. (No bitcoin isnt private, but the dozens and dozens of quickly folding scam- err.. exchanges is proof that its private enough)
3. Take off the tin foil hat.
I would be interested in something like FedCoin because I like my above-the-board transactions to have security.
Bitcoin true believers are always so shocked to see that they quickly attract the same scam artists and thieves that turn up when those "stifling regulations" are removed. Ponzi schemes. Investment scams. All the classic shit that's been around since the concept of currency itself was created.
Wrong! Bitcoins' top appeal is:
- you can use it if you're under 18
- you can use it if the world bank hates your country
- you can use it to accept payments without paying a credit card gateway company a ton of money
- you can use it to take orders over the phone if your credit card processor thinks you're too young of a business to take card-not-present transactions
- it is virtually impossible to use a stolen wallet if the user encrypted it
And it most certainly, absolutely, is not "secret." It's is the polar opposite. It's all logged.
The one and ONLY value of a cryptocurrency is that it can be reliably traded secretly. There is simply NO other reason to use one.
Cyrptocurrencies also ensure there are no forgeries. If a bill is printed with the hash on it, it can be verified easily. This is actually an excellent use of the cryptocurrency standards. Having the govt, as well as citizens and businesses, being able to track it publicly would be a benefit. Also, you're a moron.
Tic-Tac-Toe, Global Thermonuclear War, and relationships all have the same winning move.
If a currency didn't have inflation then their wouldn't be economic growth, just rent seeking from those luck to be born with money. get over it.