Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
jmw74
on 03/12/2014, 19:41:28 UTC
Yes, I was saying they are different coins and different attempts. The first wave were the clones (which we've already had), the next wave a) will have some level of actual innovation, and the wave after that b) would be government attempts to resist Bitcoin and regain control.

the creation of USDCoin would be a tacit admission by the govt that Bitcoin has merit and, paradoxically to their wishes, money will always flow to that platform which treats it best.  that can't happen with an inflationary, violent coin.

It would be an admission by the government that Bitcoin has merit. It would also be sold to the public as having all the benefits of Bitcoin with all the security of government money. Given the history of money, this has worked. It did for the FED in the 1930's.
Let's be clear here. Taking the existing banking system, add in lower fees and faster transactions, is nothing like bitcoin.  It's just the same old shit, but not quite as stuck in the dark ages as it is now.

The concept of a government-controlled blockchain is complete nonsense.  Those two things are mutually exclusive, as soon as a central authority has control of the blockchain, the entire thing becomes a waste of resources. You'd get the same effect from the government just running a centralized database, except it's much more efficient.