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RE: The Government Anti-Cryptocurrency Narrative Will Get Louder
I just started debunking a conspiracy that bitcoin is controlled by government. They will also spin it as bitcoin = bad, FedCoin/SDR = good. Hopefully we don't end up with a digital panopticon when the sheep fail to read the fine print on their new currency.
Nice write up. Yeah, when FedCoin/SDR comes out, that's when the narrative will get really, really interesting.
Hadn't seen that before, but logical that they will take SDRs and call it FedCoin.
So is BTC just a trial run, to see if sheeple will fall head over heels to get into this new thing called FedCoin?
I think digital currencies (centralized in nature) were being worked on in the 90's. Then there were some flops such as e-gold. What's new about this technology is the decentralized nature of distributed accounting that uses game theoretical algorithms to ensure fairness.
Lightning Network and Schnorr signatures will help with the scaling and privacy issues when they come out. I'm a programmer from a different field (over 20 years) and since spring have been studying the bitcoin architecture. Semi-retired and own my own business, but put some money in crypto as insurance against social security/private pension failure.
It's an interesting narrative that has been debated endlessly on bitcointalk since the beginning, but I personally don't think it has much weight. Digital currencies have always been in the interests of governments. Decentralized cryptographic ledgers take the control out of their hands and put them into voluntarily agreed upon protocols. The main thing we need is useable privacy, which many projects are working towards now.