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RE: THIS TIME IS SERIOUS. The United States Congress: “Digital currency: the future of money”
In principle, this sounds like a good thing, but to give that power to central banks to control will at best be redundant. The ledger and built in inflation rates perform the duties of the central banks to start.
At worst; central banks will just use this power to best determine how to manipulate the algorithms to their own benefits. This would offset any benefits cryptocurrencies bring to the table to start.
I totally get your point however, you and I, and many people that understand the evolving algorithmic side of blockchain and crypto know that this can’t be altered nor modify without us knowing about it.
If this happens, then we’ll know for sure decentralization and our power to choose will take effect.
True, and IMO, if central banks were to play a role in crypto, the service would best be performed as a type of enforcement of the rules. To ensure that the markets are actually making apples to apples comparisons in terms of pricing (ex: bth <-> steem) but sitting back and allowing the tasks to be performed.
Also, would be important that the capacity of the currencies be able to accommodate the 10's of millions of transactions per second required of a real world currency.
I'll stop there for criticism and keep an eye on the good, that this is a real move to what many have wanted to see from crypto since it became a thing.