Thanks, that's an interesting story and a very enjoyable read.
It's hard to predict what would happen to Bitcoin's price if news broke out that the US Govt was a major holder... I suspect the libertarian core would flock to alt coins, but would the newfound 'legitimacy' bring in masses of new investors?
Topic: Head Fake: Why the U.S. government would create Bitcoin [fiction] - page 2. (Read 4251 times)
January 06, 2014, 11:04:50 AM
January 06, 2014, 10:34:41 AM
I wrote a short story about a universe where the U.S. government saw creating Bitcoin as its best option.
Read the rest: http://niran.org/bitcoin-fiction/head-fake.html
I'd love to hear your thoughts.
Quote
Fortunately for America, politicians don’t have much of a say in which currencies people use for trade. Markets do. Those markets had seen the relative stability of the dollar over decades as well as the stockpiles in banks around the world, and time and time again, they came to the conclusion that dollars were still the easiest way to trade. Still, the Treasury Department has always been wary that, in the same way we switched from barter to trading shiny things and from shiny things to paper, we’d one day move to something else.
Read the rest: http://niran.org/bitcoin-fiction/head-fake.html
I'd love to hear your thoughts.
Occam's razor is against this being the most probable universe for us to be in, but otherwise I've pondered the same. Also, really, the original whitepaper and form of it (send to IP addresses, etc.) is far different from what it evolved into. The Bitcoin we have TODAY would make for a good story -- even the Bitcoin of three years ago -- but not before.
IRL, there is the possibility this thinking factored into the Senate meeting not going as we all expected, and the FinCEN almost-180 since March, and Bernanke's letter agreeing that Bitcoin had promise, etc.
Again, Occam's Razor tells me that all the above is equally possible and simpler by virtue of a couple rounds of golf with the Winklevoss twins, and a few other influencers pre-gaming the hearing, plus the China spike being fortuitous in inducing a bit of "are we being left behind? Is the terrorism excuse worth giving this to China?" fear, even among senators that didn't really understand dick about it. They don't understand a lot, but they know increasingly powerful things are popping out of China. And if they're into it, then by god...
But it's fun to wonder.
January 06, 2014, 09:58:17 AM
I wrote a short story about a universe where the U.S. government saw creating Bitcoin as its best option.
Read the rest: http://niran.org/bitcoin-fiction/head-fake.html
I'd love to hear your thoughts.
Quote
Fortunately for America, politicians don’t have much of a say in which currencies people use for trade. Markets do. Those markets had seen the relative stability of the dollar over decades as well as the stockpiles in banks around the world, and time and time again, they came to the conclusion that dollars were still the easiest way to trade. Still, the Treasury Department has always been wary that, in the same way we switched from barter to trading shiny things and from shiny things to paper, we’d one day move to something else.
Read the rest: http://niran.org/bitcoin-fiction/head-fake.html
I'd love to hear your thoughts.
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