Fed Bank VP on bitcoin: Banks must adapt or die

[beckeswins]

VP of Federal Reserve Bank of St Louis on BTC:

“What do we have here? A stroke of genius, I think.” 

“I think that the Federal Reserve can compete with bitcoin as a currency. But not the payments portion.” 

“The hope is to basically slay the inflation dragon. And to drive transactions costs down to zero. That’s the vision.”

“Well-run central banks should welcome the emerging competition.”

http://www.coindesk.com/federal-bank-vp-bitcoin-threat-means-banks-must-adapt-die/

[~Coinseeker~]

And here's the best takeaway from this awesome news.

http://aworldofcurrency.com/?p=1919

[Alley]

Very good read!

[jc01480]

And banks across the nation just defecated on themselves at such a gross deviation from the status quo.  I contend that the industry would be grossly negligent in failing to embrace this ideal.

[cypherdoc]

And here's the best takeaway from this awesome news.

http://aworldofcurrency.com/?p=1919

Ripple?  are u kidding me?

[~Coinseeker~]

And here's the best takeaway from this awesome news.

http://aworldofcurrency.com/?p=1919

Ripple?  are u kidding me?

No, I think Andolfatta's pretty serious.   Then again, he actually knows a thing or two about monetary systems, currency and payment rails. So it makes sense he would be able to understand something like Ripple, that's pretty complex for the average person, and see it's true benefits.

[cypherdoc]

And here's the best takeaway from this awesome news.

http://aworldofcurrency.com/?p=1919

Ripple?  are u kidding me?

No, I think Andolfatta's pretty serious.   Then again, he actually knows a thing or two about monetary systems, currency and payment rails. So it makes sense he would be able to understand something like Ripple, that's pretty complex for the average person, and see it's true benefits.

or maybe since he missed out on Bitcoin, he's pumping his book?

[Velkro]

banks will not adapt, they are obsolete

[BittBurger]

Don't tell anyone, but I have always had a sneaking suspicion that the Fed invented Bitcoin, and Dorian's secret government projects were just that.

But I try not to say that out loud, for fear of having to buy stock in tinfoil.

Still.  Why has the Fed repeatedly been the agency to blatantly support the one technology that was created to destroy it?

This inconsistency is an elephant in a room.

-B-

[Bit_Happy]

VP of Federal Reserve Bank of St Louis on BTC:

“What do we have here? A stroke of genius, I think.” 

“I think that the Federal Reserve can compete with bitcoin as a currency. But not the payments portion.” 

“The hope is to basically slay the inflation dragon. And to drive transactions costs down to zero. That’s the vision.”

“Well-run central banks should welcome the emerging competition.”

http://www.coindesk.com/federal-bank-vp-bitcoin-threat-means-banks-must-adapt-die/

“What do we have here? A stroke of genius, I think.”
Is this an April Fools joke too? 

[~Coinseeker~]

And here's the best takeaway from this awesome news.

http://aworldofcurrency.com/?p=1919

Ripple?  are u kidding me?

No, I think Andolfatta's pretty serious.   Then again, he actually knows a thing or two about monetary systems, currency and payment rails. So it makes sense he would be able to understand something like Ripple, that's pretty complex for the average person, and see it's true benefits.

or maybe since he missed out on Bitcoin, he's pumping his book?

If it leads to Ripple integration, so be it. 

[FreeJack2k2]

Want to know why so many of these Fed suits and banking class people like Ripple so much? It isn't really decentralized. Hence, it's easier to manipulate.

[Lethn]

lol That guys going to get replaced if his superiors ever hear about that.

[Beliathon]

And here's the best takeaway from this awesome news.

http://aworldofcurrency.com/?p=1919

0 comments on an article from a site no one has ever heard of.

Sorry my friend, but that article STINKS of ripple propaganda.

[~Coinseeker~]

And here's the best takeaway from this awesome news.

http://aworldofcurrency.com/?p=1919

0 comments on an article from a site no one has ever heard of.

Sorry my friend, but that article STINKS of ripple propaganda.

Uh...it was about Ripple.  

[twiifm]

Id rather invest in Ripple (the company not the currency) than bitcoins.  Too bad ripple is not public.

[atp1916]

China is the reason for 90% of the volatility in the bitcoin market.  They don't care about the technology, they just want to speculate and make a buck.

Bitcoin will rise back up to $750-850 and pitch a tent for the long term not long after 4/16.

Fortunately, venture capitalists and tech entrepreneurs are finally winning the battle against the fringe anarchists and libertarians for the soul of Bitcoin .

It's about the tech, not about the coin and its ability to go "off the grid"!

[twiifm]

Want to know why so many of these Fed suits and banking class people like Ripple so much? It isn't really decentralized. Hence, it's easier to manipulate.

They like it cause the technolgy can be integrated into curent banking system.   It has real world use value. 

[FreeJack2k2]

Want to know why so many of these Fed suits and banking class people like Ripple so much? It isn't really decentralized. Hence, it's easier to manipulate.

They like it cause the technolgy can be integrated into curent banking system.   It has real world use value.  

Yes...it can be "integrated" into the current banking system. Because it's such an awesome idea to continue pouring money into the corrupt banking system. Of course the banking class wants a digital currency they can control.

[Beliathon]

This is really splitting hairs, but the banking industry technically must abandon fiat or die.