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The Federal Reserve is worth maybe every dollar on the planet. It's survived almost a hundred years. It bankrolled Bitcoin with it and most cryptocurrencies dep
by nickpsecurity 8y ago
The Federal Reserve is worth maybe every dollar on the planet. It's survived almost a hundred years. It bankrolled Bitcoin with it and most cryptocurrencies depending on dollars for investments, paying employees, etc. From centralized banking to sustaining decentralized platforms, the Federal Reserve is successful beyond anyone's wildest dreams in the 1910's. Except maybe the people that created it.
See why your argument doesn't prove Bitcoin is a good thing in the long term and/or if you're a believer in its superiority to centralized banking?
- seibelj 8y agoI made no comment on Bitcoin or other cryptocurrencies replacing the Federal Reserve. I am arguing that Bitcoin and other cryptocurrencies are, 1) Not worthless, 2) Not a scam, 3) Have interesting technical properties that are worthy of study and improvement, 4) Have real-world utility, and 5) Should not be immediately dismissed by HN groupthink.
- Retra 8y agoAnd blockchain peddlers can certainly over-promise/under-deliver without contradicting any of those points.