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Oh Oh, sounds like the Fed wants to put shitcoins out of business (yup, talking to you $XRP Army "of the Brain Dead" & transactional shitcoins like $LTC $BCH assuming they are used)
But it's NO threat to #Bitcoin:
- Unconfiscatable
- Uncensorable
- Uninflatable
https://twitter.com/CNBCnow/status/1158431388082855936 …
Great move Fed, compete with the (soon to not be so?) loyal users of your currency (Visa, MasterCard, PayPal, Square, Stripe, Venmo, ApplePay, etc).
tbh most of Europe has had systems like this for a long time and it does nothing but make for a more enjoyable experience across the entire ecosystem.
Enjoy the "negative interest rates" this allows them to extract.
Lmao. So true. I do think generally it'll be good for the ecosystem though. People will still use these services you listed because per usual it'll likely be impossible to use for traditional consumers. So overall I don't think it'll compete - just a win for everyone.
Australia tried this: RBA announced in 2013, launched in 2018 2 years late, local banks still stubbornly resisting implementation beyond basic functions. If US Fed rolls out by 2030 it'd be surprising - resistance from incumbent banks will be ferocious.
Indian government had launched something similar in 2012 https://en.m.wikipedia.org/wiki/RuPay
By 2021-2022 Mainstream begins to accept that Bitcoin is here to stay.Widespread retail adoption of BTC by the end of 2022. By 2025 the world already have efficient payment system and store of value - Bitcoin(BTC) and people feel safe to spend because the parabolic phase is over.
I can get down with this...
Well, it's really the Treasury who is over the currency. It's a good example of how bureaucracy and departments create confusion and mis-allocation even when they're supposed to have the same end goal.
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