Mist
REEEEeyore
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Edaw
Parody
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Sanrith Descartes
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Edaw
Parody
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Sanrith Descartes
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Tmac
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Edaw
Parody
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Edaw
Parody
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Sanrith Descartes
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Daezuel
Potato del Grande
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Edaw
Parody
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Caliane
Avatar of War Slayer
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Tmac
Adventurer
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I was expecting something novel in it. It's just saying "gold went high when people were suspect of gov financial policies" and "BTC is the same thing".
swayze22
Elite
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Seems to be missing the point of crypto in general like many articles I read.
It's not necessarily a commodity, it is the groundwork and basis for a decentralized financial system of which the exact value and scope is yet to be determined. The main point of the article in comparison to gold (which is silly) is the government ended the fixed price and therefore caused massive flux in the market. This is the exact scenario crypto is looking to avoid, any one party or entity with power making broad sweeping changes or policy to the market (and stumbling at times to do so).
Crypto is not about value relative to the dollar. The crypto is the value and we most commonly use the dollar to purchase it at present. There seems to be some viewpoints entrenched in outdated thinking. It's easy to be blinded when you work in a finance role in an advanced economy and have buttered your bread on fiat and the gold standard like all the old whites taught you.
So it seems most people fall into two camps - you think its magic internet coins that are like beans or lumber and trade them as such. Or you are investing in the decentralized future. (not mutually exclusive in totality)
Edaw
Parody
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This is why I found it interesting because I fear that some form of regulation of crypto is coming. No question many see crypto as a threat for the very strengths/reasons you stated.
Tmac
Adventurer
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That thread didn't even have the most interesting parts:
"Most immediately, we are taking a critical step to build a strong foundation with the introduction of the FedNowSM Service, a new instant payments infrastructure that is scheduled to go into production in two years. The FedNow Service will enable banks of every size and in every community across America to provide safe and efficient instant payment services around the clock, every day of the year. Through the banks using the service, consumers and businesses will be able to send and receive payments conveniently, such as on a mobile device, and recipients will have full access to funds immediately."
"To deepen our research on the technological design of a CBDC, the Federal Reserve Bank of Boston is partnering with Massachusetts Institute of Technology's (MIT) Digital Currency Initiative on Project Hamilton to build and test a hypothetical digital currency platform using leading edge technology design options.16 This work aims to research the feasibility of the core processing of a CBDC, while remaining agnostic about a range of policy decisions. MIT and the Boston Fed plan to release a white paper next quarter that will document the ability to meet goals on throughput of geographically dispersed transactions with core processing and create an open source license for the code. Subsequent work will explore how addressing additional requirements, including resiliency, privacy, and anti-money-laundering features, will impact core processing performance and design."
Exactly which members, how do we find out, and how do we track their mf'ing crypto portfolio?
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Edaw
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