If Federal Reserve issue their own cryptocurrency, it will definitely not like bitcoin, or based on bitcoin protocol .bitcoin protocol is decentralized as no one can control it.
Federal Reserve will know allow this happened.
It should use ripple protocol.
Topic: Could the Federal Reserve Issue Their Own Cryptocurrency? - page 3. (Read 3454 times)
Doubt the security of the fed's blockchain.
Firstly, there is no limit on number of coins, no incentive to hold the value over time.
Secondly, no incentive for miners to maintain such network.
Thirdly, if code is not open source, nobody will use this coin. If it is open source, consensus could put an upper limit to the coins, which defeats purpose of the FDR.
Firstly, there is no limit on number of coins, no incentive to hold the value over time.
Secondly, no incentive for miners to maintain such network.
Thirdly, if code is not open source, nobody will use this coin. If it is open source, consensus could put an upper limit to the coins, which defeats purpose of the FDR.
This is like the Postal Service announcing they are creating their own "electronic messaging system" like email. Why? What would be the point? It wouldn't save them, and there's no reason to think they'd do it better than is already being done by others. The shortcomings of bitcoin (security and ease of use) are not solvable by the Fed or any roomful of Nobel Laureates, so them creating an altcoin would be pointless. Any innovation they could come up with could just be replicated by every other crypto in existence. The only edge they could possibly get would be regulatory/legal in nature, and it would be blatantly obvious to everyone if such favoritism were put into words. That would simply wake up Wall Street and Mainstream America to the nepotism and how it would be inferior to existing cryptos in the ways that matter, which would end up providing a big boost to real cryptocurrency, even if it had to happen "underground."
Absolutely they can... would the majority accept?... Yes they would because they have the power to regulate the shit out of bitcoin and they have ridiculous money to invest in promoting it.
We have been dumb enough to let the rich 1% to run congress... why wouldn't we (as a population) just lay down and support the corrupt?
At some point there needs to be enough people willing to give the effort to resistance & educate public opinion.
We have been dumb enough to let the rich 1% to run congress... why wouldn't we (as a population) just lay down and support the corrupt?
At some point there needs to be enough people willing to give the effort to resistance & educate public opinion.
Seeing as they already have a machine that prints out a limited amount of money everyday, I'm surprised they haven't found out about the untapped potential of making infinite money virtually.
Then again, we have all these l33t hackers and you can't really verify this virtual money.
I don't think it would be a good idea.
Then again, we have all these l33t hackers and you can't really verify this virtual money.
I don't think it would be a good idea.
The machine us unlimited printing just check inflation for the last 100 years and they know about virtual money of course they do buddy they have just chose not to care i mean why should they it represents such a tiny part of the world economy, bitcoin 3.4billion last i checked all the other alts at a guess say the same so ten billion tops for virtual currency worldwide that is nothing to them and a waste of time them even thinking about it. I am pretty sure nothing will come of this there will be no fed crypto although there probably will in the future when they are done with the dollar :?
Seeing as they already have a machine that prints out a limited amount of money everyday, I'm surprised they haven't found out about the untapped potential of making infinite money virtually.
Then again, we have all these l33t hackers and you can't really verify this virtual money.
I don't think it would be a good idea.
Then again, we have all these l33t hackers and you can't really verify this virtual money.
I don't think it would be a good idea.
Of course they could. What would be stopping them? It wouldn't be the same though as the currency would be centralized and that's not what we want. I'm sure cryptos will influence the future of money in some way though.
The hypothetical cryptocurrency mentioned in the article posted by OP has a mix of centralized and decentralized characteristics. The Fed won't have special powers and it won't have the ability to remove or add entries in the blockchain. However, the currency would be 100% premined and distributed and redeemed via centralized channels rather than distributed in a decentralized manner as in the case of Bitcoin.
They probably wouldn't create a cryptocurrency, but they instill a sense of transaction verification (i.e., blockchain) technology to decrease the ability to counterfeit the dollar. I don't see them replacing the dollar and what would a second currency, a crypto currency, do for them or the US?
No, it can't. No way.
It would be totally illegal.
The Federal Reserve, nor any central bank, doesn't have the power to create a new currency. It's duty is to protect, or control, or develop (depending on circumstances) the currency which is legal tender in the country. It cannot create a new currency, and it cannot change the currency it's working with.
It would be totally illegal.
The Federal Reserve, nor any central bank, doesn't have the power to create a new currency. It's duty is to protect, or control, or develop (depending on circumstances) the currency which is legal tender in the country. It cannot create a new currency, and it cannot change the currency it's working with.
It's not really a replacement for the dollar or even a new currency but rather a digital representation of the dollar that is able to leverage the power of the blockchain to allow or trustless, near-instant, and low-cost transactions. The Fed will keep the coin's value stable by readily accepting USD for fedcoins and vice versa.
wrong, wrong, wrong.
You are all wrong.
You are all wrong.
I think you are missing an episode of alex jones bro flick the channel, please to begin with can you show me where you find out that they have and it is experimental stage?
It will not win the public confidence it will win over some sheeep for sure but not many from bitcoin and if they wanted to try and ruin bitcoin that would have been done.
Within the 3 months ay tell me more show me some proof?
They have to much control over fiat they do not want crypto lol
wrong, wrong, wrong.
You are all wrong.
They most certainly will. In fact, they already have - but it remains experimental. It is remarkably easy to create one. The Fed is merely trying to figure out how it could introduce it AND win the public's confidence. It is possible to make a strong rule whereby zero inflation is preserved. You can bet, people would flock to it because it would have FDIC like insurance and our beloved bitcoin would merely be repeatedly racked with more scandal each week. I think Andolfatto and the FedReserve could have a full blown dominate cryptocurrency in about 3 months - forever putting bitcoin away.
You are all wrong.
They most certainly will. In fact, they already have - but it remains experimental. It is remarkably easy to create one. The Fed is merely trying to figure out how it could introduce it AND win the public's confidence. It is possible to make a strong rule whereby zero inflation is preserved. You can bet, people would flock to it because it would have FDIC like insurance and our beloved bitcoin would merely be repeatedly racked with more scandal each week. I think Andolfatto and the FedReserve could have a full blown dominate cryptocurrency in about 3 months - forever putting bitcoin away.
No, it can't. No way.
It would be totally illegal.
The Federal Reserve, nor any central bank, doesn't have the power to create a new currency. It's duty is to protect, or control, or develop (depending on circumstances) the currency which is legal tender in the country. It cannot create a new currency, and it cannot change the currency it's working with.
It would be totally illegal.
The Federal Reserve, nor any central bank, doesn't have the power to create a new currency. It's duty is to protect, or control, or develop (depending on circumstances) the currency which is legal tender in the country. It cannot create a new currency, and it cannot change the currency it's working with.
Would it matter if the Federal Reserve issued their own cryptocurrency?
It would since most people are sheep and they would follow whatever is "official". Thing is, it can backfire and maybe all they do is drawn more attention to Bitcoin.What really changes if the Fed slaps some cryptographic lipstick on that pig?
Would it matter if the Federal Reserve issued their own cryptocurrency?
It would since most people are sheep and they would follow whatever is "official". Thing is, it can backfire and maybe all they do is drawn more attention to Bitcoin. 
Anyone can create a cryptocurrency, you, me, the FED, anyone. What matters is who uses it, not who creates it.
They can use the blockchain technology and they can even create some sort of electronic USD where the "mining" gear sits in federal reserve facilities and banks are providing only different wallets for you. Paper notes could be replaced by cold wallets owned by the FED.
The money supply must be infinite I guess if they don't want to make hard forks in every few years
.
The money supply must be infinite I guess if they don't want to make hard forks in every few years
. 
I thought they already had currency in place?
Forget 21 million supply, they got that beat. Infinite!!!
Forget 21 million supply, they got that beat. Infinite!!!
They will. Most probably in not so a distant future.
Would it matter if the Federal Reserve issued their own cryptocurrency?
No it would not matter in the slightest, the thing is they do what they want when they want anyway lol so what would be the difference between a rip off 100% premine coin or 100% premine rip off paper they have 1 main thing in common they are both a rip of built to trap, so if they decide to create one which i doubt then stay clear and there will be no change to what there is now..
Would it matter if the Federal Reserve issued their own cryptocurrency?
They like things the way they are, I doubt any central bank could adapt to cryptocurrencies willingly and that's the point, this is something that was designed to replace them.
They probably wouldn't create a cryptocurrency, but they instill a sense of transaction verification (i.e., blockchain) technology to decrease the ability to counterfeit the dollar. I don't see them replacing the dollar and what would a second currency, a crypto currency, do for them or the US?
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