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Topic: Mining USD? - page 3. (Read 3637 times)

sr. member
Activity: 434
Merit: 250
December 08, 2013, 02:30:19 PM
#11
Banks do it all the time when they buy Treasuries from the Federal Reserve that are destined to be converted to currency.

In my wonderland case, i'm talking about regular bitcoin miners.
Imagine the Fed starts issuing dollars through mining, 0.01 USD per block. Would you be interested on mining?

For that to happen, it would basically put the Federal Reserve and the Banks out of business because there would be no more centralized book keeping.

Bitcoin completely decentralizes the books by giving everyone a copy of the books.

Personally I would not put any extra effort into a currency scheme with centralized book keeping.

I mean I already participate in a currency scheme with centralized book keeping...why would I need another one?
member
Activity: 75
Merit: 10
December 08, 2013, 02:29:12 PM
#10
just keep imagining...

why would they pay you for mining...

when they can just PRINT MONEY right away?

does not make sense...

To provide the illusion of a well-designed currency, of course.
sr. member
Activity: 462
Merit: 250
Free World
December 08, 2013, 02:27:15 PM
#9
just keep imagining...

why would they pay you for mining...

when they can just PRINT MONEY right away?

does not make sense...
full member
Activity: 182
Merit: 102
December 08, 2013, 02:18:21 PM
#8
Banks do it all the time when they buy Treasuries from the Federal Reserve that are destined to be converted to currency.

In my wonderland case, i'm talking about regular bitcoin miners.
Imagine the Fed starts issuing dollars through mining, 0.01 USD per block. Would you be interested on mining?
sr. member
Activity: 434
Merit: 250
December 08, 2013, 02:15:26 PM
#7
Banks do it all the time when they buy Treasuries from the Federal Reserve that are destined to be converted to currency.
hero member
Activity: 728
Merit: 500
December 08, 2013, 02:10:10 PM
#6
USD is loser currency. Who would want any Grin

For what I know, it's  stable and accepted anywhere...

I don't think much anyone takes it around here...
full member
Activity: 182
Merit: 102
December 08, 2013, 01:58:03 PM
#5
USD is loser currency. Who would want any Grin

For what I know, it's  stable and accepted anywhere...
full member
Activity: 182
Merit: 102
December 08, 2013, 01:51:01 PM
#4
Only BANKS can do that

Hypothetically speaking, of course.
hero member
Activity: 728
Merit: 500
December 08, 2013, 01:48:44 PM
#3
USD is loser currency. Who would want any Grin
sr. member
Activity: 462
Merit: 250
Free World
December 08, 2013, 01:45:33 PM
#2
Only BANKS can do that
full member
Activity: 182
Merit: 102
December 08, 2013, 01:44:57 PM
#1
Would anyone be interested on mining USD, if it was possible, @ $0.01  per block (scrypt)?
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