Quote from: Biomech on October 14, 2014, 12:14:41 AM

Quote from: jbreher on October 13, 2014, 07:14:46 PM

Quote from: Biomech on October 13, 2014, 03:31:11 AM

Right now the actual calculation of how many dollars exist is... Well, convoluted would be a compliment. With blockchain technology, the creation and distribution of the currency is reduced to a common protocol that all the banks can use for the price of a few servers. By comparison to just the regulatory compliance softwares in banks, that's a pittance. Whether they'll have the brains and balls to actually do it is another story, but the public ledger/blockchain idea for transmission of data and tracking the money supply would simplify really a lot of modern finance.

While agreeing with your above-quoted statement, I still disagree with your disagreement.

You seem to have the impression that easy tracking of the entire money supply is something of value to those whom have been granted a charter to zap money into existence at their leisure. I assert that this would actually be counter to their interests, as it would wake the masses to the chicanery of the entire system.

Just look at how hard the entrenched interests have been fighting -- year after year -- the intent to conduct an audit of the FED. (be you American - otherwise, the example may admittedly be rather obtuse)

I am American, though I do not consider myself a citizen. Subject is a more accurate word, and I'm not good with that either.

However, while I can't disagree with your assessment, I tend to look to where they might go if pushed. Bitcoin and associated blockchain based coins are not likely to go away. The very existence of a disruptive technology, especially one as potentially devastating to them as this, requires a response. Since it is in the best interests of the powers to APPEAR benevolent, and since the cracks in the foundation of the Federal Reserve Act and it's egregious succesors are becoming obvious even to the sheeple, it behooves them to try to co-opt it. Destroying it is impossible, and I think they learned that lesson with the Internet.

Think, then, what advantage such a thing would give them. The disadvantages are somewhat obvious and are discussed on this forum on an hourly basis, but few have bothered to look what the powers might GAIN from this technology.

First, let's dispense with the idea that they care a great deal about money. They don't. The currency they deal in is power. Money is merely an aspect or symbol of that power. Losing control of it it is catastrophic to the way they currently do business, but if you look at the history of rulership, they're incredibly adaptable. In America, they have turned a nation of renegades and individualists into a sociofascist empire that maintains and appearance of liberty. So, looking to that, how might blockchains be incorporated?

One that I find obvious is that they can hide their legerdemain in plain sight. Instead of fractional reserves, they have an adjustable rate of proof of stake, based on some metric they control. It appears that all money creation is above board and clean... but they control the metric.

I could go on for a while on the ways they might subvert the technology while APPEARING to "fix" the economic system. If they can come off as heroes, then they elevate themselves and again appear to be the benevolent overlords.

EDIT. Just saw your flavor text. Lose and loose Cheesy

I hate that shit. Bravo!

Sorry to step in here, but it's very interesting stuff, your perspective seems clear and true.

The bolded part, that is the part that seems illogical to us... One party able to tweak issuance destroys the fairness of a blockchain.

But then as you allude to, it only needs to "look good" to the majority, the more objective minds don't seem to be considered nowadays as we've seen in so many of the farces over the past few decades.

So a "cryptofiat" system although an oxymoron might be implemented and lauded by the dumb masses. Undecided