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#1: Pinguinite    To: Horse (#0)

They'll call it the FedCoin, and the motto: One Coin to Rule Them All.

The timing might not be so great if the debut coincides with serious inflation leading to hyper inflation. But what great service it will do is acclimate people to free-market crypto.

Pinguinite posted on 2021-05-03 23:50:39   Reply   Private Reply

#2: Lod    To: Pinguinite (#1)

Somehow I doubt it will be free-market anything if the fed's involved.

Lod posted on 2021-05-04 00:05:47   Reply   Private Reply

#3: NeoconsNailed    To: Lod (#2)

The Permanent Regime exists to crush freedom in all forms.

NeoconsNailed posted on 2021-05-04 00:13:01   Reply   Private Reply

#4: Pinguinite    To: Lod (#2)

The beauty of bitcoin and most other cryptos is they are free market. When FB announced plans to issue their libre coin, I think it was called, Zuckerbrain was summoned to DC to explain how it wouldn't be a disaster for things like money laundering, tax evasion, drug payments and all that. But they didn't call anyone to DC when bitcoin was invented, and the reason was because, being completely decentralized, there was no one to call.

Centralized crypto, which is any crypto endorsed by either a government or central bank, is not free-market by definition. The gov can place no restrictions on free market transactions. All they can do is restrict companies already beholden to the gov by other means from dealing with it. Free market crypto cannot be seized and cannot itself be restricted from transactions in any way. That as opposed to money in a bank account that can be frozen or seized at the gov's will and whim.

A fed coin will certainly be fully controlable from the central bank itself. Any wallet can be seized, payments to certain entities but not others can be disallowed (no more donations to the Trump campaign for you!) and it's even possible to put an expiration date on coins forcing people to spend them in a timely manner.

Just like in the old cowboy movies, with crypto there are good guys and bad guys.

Pinguinite posted on 2021-05-04 00:23:39   Reply   Private Reply

#5: NeoconsNailed    To: Pinguinite (#4)

Wise words.

"Facebook launches Libra Coin Crypto Currency and Everyone hates it"

techguylabs.com/episodes/...ncy-and-everyone-hates-it

NeoconsNailed posted on 2021-05-04 12:32:39   Reply   Private Reply