THIS IS THE PERFECT TIME FOR CRYPTO TO SHINE. THE FED IS OUT!!

in #community6 years ago

The Fed wants no part of a national cryptocurrency, Full Article By Clicking Here


To the point, they noted, a central bank cryptocurrency isn’t really a crypto-currency at all. If it’s not run on a “permissionless” network—with nodes free to join or leave as they wish—then effectively, it’s just centrally-managed electronic money, with an inconvenient blockchain component. “Once we remove the decentralized nature of a cryptocurrency, not much is left of it.”

Berensten and Schar observed that such centralized electronic money doesn’t even require a blockchain. In fact, “the technology for issuing virtual money in a centralized way existed long before the invention of the blockchain.” They concluded, “cryptocurrency is still a very young technology and there are large operational risks. Overall, we believe that the call for a ‘Fedcoin’ or any other central bank cryptocurrency is somewhat naïve.”

Sort:  

Congratulations @melip! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You received more than 35000 upvotes. Your next target is to reach 40000 upvotes.

Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

Christmas Challenge - The party continues
Christmas Challenge - Send a gift to to your friends

Support SteemitBoard's project! Vote for its witness and get one more award!

HOLA AMIGA MELIP GRACIAS POR TU POST EXCELENTE, ESPERO QUE HAYA PASADO UNA LINDA NAVIDAD AL LADO DE TUS SERES MAS QUERIDOS, QUE EL NIÑO JESÚS TE PREMIE CON MUCHAS BENDICIONES, SALUD, PROSPERIDAD Y SIGAS COSECHANDO MUCHOS ÉXITOS

Surprise surprise. Fed is happy with current system thank you very much.

Gold has been on a rise now waiting for a dip there and we will see crypto to rise

New to Steemit?