Bitcoin Forum
December 10, 2016, 09:15:00 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: "They" could use bitcoins.  (Read 861 times)
grondilu
Legendary
*
Offline Offline

Activity: 1134


View Profile
April 20, 2011, 12:24:35 AM
 #1



Cash exists.  It's anonymous.  Decentralised (not issueing, but existence, as it is dispatched everywhere).  And yet the government seems Ok with it.

So they could use bitcoin to issue "electronic cash".

Basically they would modify the bitcoin source code, and make a new block chain with all the 21 millions "FEDcoins" generated all at once, in the genesis block.   They could also make it so that a special private key could generate any number of new coins anytime they want.

And then they would guarantee the convertibiliy between FEDcoins and Federal Reserve Notes.

FEDcoins would be just like FDR notes, except that they are designed to be exchanged on the net, and not in person-to-person physical exchange.

That would cost them almost nothing. 
1481361300
Hero Member
*
Offline Offline

Posts: 1481361300

View Profile Personal Message (Offline)

Ignore
1481361300
Reply with quote  #2

1481361300
Report to moderator
1481361300
Hero Member
*
Offline Offline

Posts: 1481361300

View Profile Personal Message (Offline)

Ignore
1481361300
Reply with quote  #2

1481361300
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
MacRohard
Member
**
Offline Offline

Activity: 103


View Profile
April 20, 2011, 12:30:42 AM
 #2



Cash exists.  It's anonymous.  Decentralised (not issueing, but existence, as it is dispatched everywhere).  And yet the government seems Ok with it.

So they could use bitcoin to issue "electronic cash".

Basically they would modify the bitcoin source code, and make a new block chain with all the 21 millions "FEDcoins" generated all at once, in the genesis block.   They could also make it so that a special private key could generate any number of new coins anytime they want.

And then they would guarantee the convertibiliy between FEDcoins and Federal Reserve Notes.

FEDcoins would be just like FDR notes, except that they are designed to be exchanged on the net, and not in person-to-person physical exchange.

That would cost them almost nothing. 

They already have this, it's called FedWIRE.

http://en.wikipedia.org/wiki/Fedwire
grondilu
Legendary
*
Offline Offline

Activity: 1134


View Profile
April 20, 2011, 12:32:27 AM
 #3

They already have this, it's called FedWIRE.

http://en.wikipedia.org/wiki/Fedwire

Well, it's not for the average Joe, is it?
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!