Reply to post: Trash talk

America, use Bitcoin instead of old-school money? Not likely, says Fed

Anonymous Coward
Anonymous Coward

Trash talk

Good to know how far behind the Fed's people are. The comment from the Mozilla dev was especially amusing. "breaking news, uniformed web developer flapping arms and gums about problem the crypto community already new about, and solved years ago." Even the clickbait title. No one who can to basic math thinks Bitcoin is going to replace traditional money. While that isn't everyone in the DeFI/Web3 world, it does include the ones that will matter. (I suspect most of the crypto junkies that can't do the math are going to zero themselves out on a long enough timeline).

Don't get me wrong, the US Gov will need to lay some regulatory action on dollar backed stable coins especially, and all the shit tokens, loan systems, etc, at least within it's sphere of influence. Whatever cryptocurrencies will become will exist at the intersection of the classical currency and banking markets and DeFI. And they will probably want to make money laundering hard, and the G-men have tools to succeed at that, if they get their shit together.

But they are going to need to get some people at the top that are a little more up to speed with what is happening, and start working with the projects they are going to end up either endorsing or at least tolerating, instead of standing on a podium and shouting at the void.

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