But knowing jpm dirty track record, couldn't they just create jpm coins from thin air then use them to buy up as many bitcoins as they want?
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But knowing jpm dirty track record, couldn't they just create jpm coins from thin air then use them to buy up as many bitcoins as they want?
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In theory yes, though in reality probably not. I would think there is some kind of audit or oversight being done of these coins they create.
Whole development team of the code is background checked, then they will go through the source code of the coin. I know this, because I've been member of development team for several coins. Larger exchanges also require links to any discussion groups to see the size of the active userbase.
This may or may not be anything like a normal cryptocurrency. It may not be a "cryptocurrency" at all.
I divide everything to real cryptocurrencies and token contracts that ride on other cryptocurrencies... If something is neither, then it's not worth mentioning.
Like they say: If it walks like a duck, if it quacks like a duck, then it's a duck...
Yea it is just difficult to say exactly how these will operate considering they aren't even built yet...
We just have to wait and see... Doesn't make sense to speculate even though I'm a coin developer myself...
Yep, very true.
Hopefully, just hard knowing banksters never play by the rules....
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They skim where they can for sure. Hopefully this is something that regulators watch like a hawk.