Quote from: Qoheleth on March 23, 2013, 04:43:08 PM

Quote from: cbeast on March 23, 2013, 05:28:47 AM

Quote from: robamichael on March 23, 2013, 05:22:26 AM

This is why I pose the question.

The new Govcoin currency would replace fiat, but not gold or Bitcoin.

It would not embody the fundamentals of sound money.

But, by the power of the State, it may succeed.

So if this were to occur, where would it first happen, and would it succeed?

Canada is trying to do this.

The Canadian solution has a fundamental weakness at the signature chips used for transfer. If one of those ever gets its private keys extracted, the person who did it may as well have stolen a Royal Mint printing press.

A more Bitcoin-like network, ironically, would give the government more control, inasmuch as it wouldn't have to put the access codes to create money in the hands of the users.

Hey, a more Bitcoin-like network already exists! It's called... Wait for it... Bitcoin!