All the reserve banks already created their own cryptocurrencies. It's called the dollar and it's a stablecoin. Instead of an algorithm controlling supply like Bitcoin (probably mined for by the Chinese or whoever has a lot of excess hydropower), it's someone editing some database.
I definitely have more faith in Bitcoin than the Dollar, but I plan to diversify just in case an EMP or a terrorist attack on a power grid (or even a winter snowstorm; looking at you, ERCOT) make digital transactions impossible even for short periods.
It’s time to embrace full Bitcoin
i pay for my gab pro with bitcoin, can't complain
Now, can gab pat it's hosting and employees in bitcoin?
So what do you use to convert USD to BTC, that isnt part of the Fed? (And their "rules")
Asking for a friend.
There are sites out there for trading locally. Haven't checked in a while, but a quick Duck search should confirm.
At some point, a bitcoin has to be converted back into currency. That's why it's not a solution to all the problems.
Until bitcoin becomes accepted as the standard currency.
All the reserve banks already created their own cryptocurrencies. It's called the dollar and it's a stablecoin. Instead of an algorithm controlling supply like Bitcoin (probably mined for by the Chinese or whoever has a lot of excess hydropower), it's someone editing some database.
Why?
Bitcoin is currency.
Currency that isn’t controlled by the central banks, robbed by politicians (taxes) or seized/blocked by wile banks/credit card providers
In a lot of ways broader adoption IS the solution to many of our problems
I've never seen a bitcoin option to pay at the grocery store. Or the farmers market.
They have coin backed debit cards that do the conversion automatically
I definitely have more faith in Bitcoin than the Dollar, but I plan to diversify just in case an EMP or a terrorist attack on a power grid (or even a winter snowstorm; looking at you, ERCOT) make digital transactions impossible even for short periods.
This is the smart way.
Debt backed fiat currency has already lost, the central banks and governments just don’t know it yet.
But no one said the journey will be a straight line so like always it’s smart to not put all your eggs in one basket