[2014-08-19] USDcoin May Become Reality, Says Cryptolina Bitcoin Regulation Pane

[erono]

http://www.cryptocoinsnews.com/news/usdcoin-may-become-reality-says-cryptolina-bitcoin-regulation-panel/2014/08/17

This weekend’s Cryptolina Bitcoin Expo sought to be the Carolinas’ “defining Bitcoin event.” The expo featured a diversity of presentations, which focused both on high-level Bitcoin theory and topics specific to cryptocurrency in the Carolinas. One of the more lively discussions took place during the Cryptolina Bitcoin Regulation Panel. The panelists discussed a variety of topics related to the government’s present and future role in the cryptocurrency industry, and several panel members suggested the United States government may try to implement its own fiat cryptocurrency – a USD coin.

[TraderTimm]

I doubt that the US Government would even dare try.

They already have their hands full trying to manage ballooning debts and dwindling tax revenues. Crypto may displace fiat, but it won't be because they welcomed it with open arms, that's for sure.

[aigeezer]

Mint chip lite?       

[CryptInvest]

May be easier to just make the state a fork with 100% Amero premine and and the possibility of additional issue?

[bitbouillion]

and several panel members suggested the United States government may try to implement its own fiat cryptocurrency – a USD coin.

Technically possible, but

Bitcoin = decentralized, international, consensus currency
USD =  centralized, national, fiat currency

It's like integrating freedom of speech into a dictatorship. There will be not much left of the original idea.

On the other hand, with the USDCoin we don't need banks anymore to convert USDCoins into Bitcoins and vice versa, just send your USDCoins to the exchange and receive Bitcoins. You can do it even step by step in small amounts to reduce the risks.

[bitcool]

Yep, try to issue a 100% PoS coin with unknown annual new coins creation rate. Good luck with that.