Why raise this possibility in discussions of bitcoin's future?
In order to provide a distraction.
Yes, I think so.
Topic: How Would "Government Coins" Be Different From The Financial System Today? - page 2. (Read 1816 times)
December 24, 2013, 01:27:53 AM
In order to provide a distraction.
Yes, I think so.
December 24, 2013, 01:18:27 AM
Centralized mining.
That would be a very insignificant change from the current centrally-managed financial system with all its digital capabilities. It is an improvement in any way?
December 24, 2013, 01:12:43 AM
The only short term scenario in which I can imagine a government virtual currency being a serious topic of conversation--in the US anyway--is if the (being glib here) goldbug libertarians take it up as their new weapon in anti-inflationary financial battle. Some of them (as an old precious metal bug I should say "some of us" here) naively hope/hoped gold and silver might, in some distant utopia, be reinstated as a base for national currency... now, bitcoin et al are designed to imitate that general principle in the internet age.
But in a more likely reality, bitcoin will slither into the markets and snag its meathooks in before those guys even finish reading the wiki...
Keep an eye on Canada though!
But in a more likely reality, bitcoin will slither into the markets and snag its meathooks in before those guys even finish reading the wiki...
Keep an eye on Canada though!
I see it brought up quite frequently here in this forum.
December 24, 2013, 12:16:46 AM
The only short term scenario in which I can imagine a government virtual currency being a serious topic of conversation--in the US anyway--is if the (being glib here) goldbug libertarians take it up as their new weapon in anti-inflationary financial battle. Some of them (as an old precious metal bug I should say "some of us" here) naively hope/hoped gold and silver might, in some distant utopia, be reinstated as a base for national currency... now, bitcoin et al are designed to imitate that general principle in the internet age.
But in a more likely reality, bitcoin will slither into the markets and snag its meathooks in before those guys even finish reading the wiki...
Keep an eye on Canada though!
But in a more likely reality, bitcoin will slither into the markets and snag its meathooks in before those guys even finish reading the wiki...
Keep an eye on Canada though!
December 23, 2013, 11:39:58 PM
Centralized mining.
December 23, 2013, 10:42:10 PM
Today, most fiat currency is already stored and transacted electronically, so "govcoin" would offer no big change there. Are the people who say that government issued cryptocurrencies will challenge bitcoin suggesting that governments will give up the power to arbitrarily "print" money and instead submit to an algorithmically constrained money supply? Are they suggesting that governments will give up the power to regulate who can send and receive money where and when? Will they give up the power to confiscate money from people they dislike? Will they submit to the transparency and permanence of the blockchain? If the answer to these questions is no, then why would anyone consider govcoin a rival to bitcoin? Would superior attributes would it possess? Why raise this possibility in discussions of bitcoin's future?
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