Well this is pretty big news! Central Banks looking for a new reserve currency?
Plan Bitcoin could be happening even sooner than I ever expected.
Many of the who's who of Central Banks are meeting right now in Jackson Hole Wyoming...
During the meeting, this just came out:
(Source: https://twitter.com/APompliano/status/1164982681068814336)
It appears central banks could soon be looking for a new global reserve currency...
Bitcoin anyone?
Japan recently came out saying how they love bitcoin.
The fact that no one knows who created bitcoin makes it a prime candidate for everyone to agree on.
No one wants to use a currency that another country created and has some advantage with.
But bitcoin...
Bitcoin wasn't created by a sovereign nation and it's not controlled by one.
It could easily step in as a global reserve currency.
And it could be happening much faster than I ever imagined.
Stay informed my friends.
-Doc
Guarantee it won't be Bitcoin. They will create their own currency/coin. Maybe call it Bankcoin, lol. They will never give control over their debt instruments to others, that defeats the purpose of their mission at extracting the masses sweat for their luxurious lifestyles.
It won't be their first choice, but remember every other country would also need to go along with it, and if one country appears to have some advantage the others will not go along with it. Japan already stated they love bitcoin. The fact that it wasn't created by any sovereign entity is a huge plus for it in that regard...
rumor mill has them switching to doge...
Ha, it finally has a use case!
Fed coin around the corner and all major banks will have their own crypto... to bad I’m going to be using bitcoin instead 😂
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Other countries won't want to use one another's central bank coin though... bitcoin will likely slowly win out. Fed coin is just the dollar in digital form most likely.
That’s the truth 😎
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What are your thoughts on the coming HF and how it impacts steem?
I’m my opinion we just have to test my it out... many people currently have their opinions already but let’s see what happens 😀
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It is interesting to see of what might happen in the near future.
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I don't think it will happen right away, but I think they will be much more agreeable to using something that none of the others controls.
Interestingly, a DPOS blockchain structure would likely be considered the fairest for this new reserve currency, something along the lines of one "witness node" per country or "percentage ownership" based on estimated GDP or some other metric(s). That's if they want to maintain some semblance of control over the monetary supply, otherwise bitcoin would be an obvious candidate (for the reasons that you briefly mentioned).
Yep, that would make a lot of sense actually. Good thoughts!
It is about time they come to their senses. Fractional reserve banking systemm and quantitative easing are just fancy words to legalize ponzi scheme and printing of money backed by nothing.
Pretty much.
how long till IMF coin😆
Could be, but can they all agree on that??? I am sure that is the route they will try to go. Would be great to see bitcoin adoption reach a point that it forces itself to be a global reserve currency.
figure they'd prob pref to create their own😈
Yea, but if bitcoin entrenches itself before then...
There will be no stopping it eventually as the debt bubble is not sustainable!
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$17 trillion in negative yielding bonds.... sheesh.
I agree
With which part?
Whith this
No one wants to use a currency that another country created and has some advantage with..
Yep, I agree.
It´s incredible how the stars are aligning. One of the most relevant moments to BTC is about to happen (May 2020) and so many news point for a skyrocket in price.
Now we see another incredible factor that could and will (because of speculation) boost BTC price. As you said, it looks like it is the perfect candidate at the moment.
Plus we have Bakkt launching in roughly a month...