|
|
|
|
|
|
by buryat
532 days ago
|
|
|
> how to get the maximum seigniorage for the central bank If I were the state I wouldn't be targeting wins by removing the value from people's hands through small scale things like collectibles where there still production element involved. I'd try to push it further into completely virtual worlds. Bitcoin comes in mind as a perfect tool for long-term removal of value from potential materialization in the real world that would use resources of the planet. I can see how the US state is involved in orchestrating bitcoin. Lots of value has been transferred into bits on the blockchain. The blockchain itself is slow which prevents people from moving coins around and pushing them further holding longer. It's also prone to mistakes which further destroys value. It was also a good way to teach people to check all details in the real world. The US and others have full visibility into all movements of coins which is great for controlling money flows. Creation of new economic models allowed to capture bad elements of the society in the process. And the global construct of bitcoin pulled value out of the whole world creating another win for the US. I would like for cryptocoins to keep increasing in prices so more people could lock the value they hold. As long as we maintain the idea that some control virtual worlds that value never has to materialize in the real world keeping the planet better for everyone. Of course, electricity was spent on it but relative to the $2T of value captured in a virtual world, it's amazing ROI. Plus we got infrastructure for AI just in time. |
|
|
Bitcoin (and all other blockchain currencies together) are small fry compared to the regular financial system, and eg banks' reserve accounts at the Fed. At least at the moment.
I'm not sure the US would be so hostile to bitcoin and crypto in general, if they wanted to move people to it? Here in Singapore our regulations are much more crypto friendly.
Btw, there's some technology in the works to make blockchain currencies much, much harder to trace. But people haven't really taken it up so far.