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This is a great point that I don't see a lot of people making. The US government would love nothing more than having a USDCoin that allows them to see exactly h
by v64 9y ago
This is a great point that I don't see a lot of people making. The US government would love nothing more than having a USDCoin that allows them to see exactly how money flows from person to person and institution to institution, as well as having a way to revoke your coins at will.
The draconian implications of this technology, like many others, concern me greatly. Thanks for providing this perspective.
- miscreanity 9y agoI would argue that Bitcoin is the coin, not a national cryptocoin. Russia world not trust a US coin, the US would not want to use a Chinese coin, etc. Bitcoin is effectively neutral territory but is effectively controlled through centralized mining operations that can certainly be collectively monopolized by the largest sovereign nations. It would be the modern version of mutually assured destruction. Bitcoin is already a reserve currency in crypto thanks to longevity and stability of the protocol. Another may become the primary transactional currency and there may well be national variants for local trade, but reserve is effectively established.