It is known, that one of the mandates of the
Federal Reserve system, when it was originally
created, was to CONTROL INFLATION. That is what we
need to take very seriously right now.
If the Federal Reserve actually takes that seriously,
they (Federal Reserve) should take Bitcoin seriously,
because Bitcoin was DESIGNED to control or at least
minimize inflation and it's affect. That digital
currency (bitcoin) does control inflation, in one way
by enforcing a "cap" on the quantity of bitcoin that
will ever exist. There will never be more than twenty-
one million (21,000,000) bitcoin in existence. The
bitcoin network, will simply "reject" or ignore any
effort to acknowledge new bitcoins that it does not
recognize, through verification within the blockchain
Maybe, the reward for producing or "mining" one
bitcoin can be interpreted as a subtle form of
controled inflation, but that reward is a carefully
controlled reward which is cut in half every four
(4) years. That makes it controled and programmed to
decrease and eventually go away.
People or members of the Federal Reserve should be
happy, content and maybe even "overjoyed" at the
very real and very practical chance of finally removing
"inflation" from their (Federal Reserve's) job.
Why doesn't the Federal Reserve jump on the Bitcoin
bandwagon? Is it because they might think that they
will be out of a job, or lose their employment?
I don't think that will happen like that. There will
always be people and organizations that will still
need the central banking system. It may just have to
downsize a little, from a big bank system to a small
bank system for people that want to "upgrade" and the
organizations that can't or won't change because of
contracts.
Finally, "Too big to fail" will become "small enough
to swallow and digest" and deal with as if it would
never be a problem for any large global or local
economy. The decentralized system of bitcoin is
quickly headed for a solution like the ability to
digest what the big gas-bloated banks cannot.
Bitcoin is under consistent and conscientious
development and adapting. Bitcoin is the "Alpha"
digital currency and although it may spin-off a
child (alternative) coin, bitcoin is the parent
and will always be the mother of all decentralized
digital currencies. That motherhood, in history will
never be able to be unwritten, without a nuclear
bomb or EMP (Electronic Magnetic Pulse) being detonated
over every country with users and miners or the
network.
Wait...mandate or not do you think the Fed tries to control inflation?
I think they try, I'm not sure of their goals. They have the public to contend with if people think its failing.
@decentralization:
Do you @decentralization, think the Fed tries to control inflation?
Be honest, tell your thoughts...
Oh the Fed definitely controls inflation, that's a fact. They control how much money gets put into the supply. The problem is they use that power for private political and monetary gain.
I like to make predictions based on the political climate. I think they're going to prop up the economy as much as they can for as long as they can through inflation before letting it crash as close to the 2020 election as possible. That way it looks like a result of Trump instead of Obama. Because whatever your opinion of Trump I think it's plain to see that he's hated by the world's elite.
Please make and keep making predictions. Trump is hated even by the least elite, such as an immigrant woman with a baby And I know she is and has been worried about her baby's healthcare being removed from her baby... We told her that POTUS needs approval from other parts of the government to remove her baby's healthcare and then she felt better, most of the time.
Thank you for the comment.
the biggest problem the US wants something it can control and manipulate lets see how they handle this new craz
@rogerblu
...others manipulate this craz. Lets see how russia wants to compete with china mining, if that is even true. I cant believe everything I read.
You hit the nail on the head @rogerblu!
Bitcoin isnt the only think causing deflation...the entire technology sector is causing downward pressure on pricing. As we approach 5% of the economy being under the laws of informational technology, we will see this only increase.
I just wrote an article about this earlier today:
https://steemit.com/technology/@taskmaster4450/technological-deflation-the-curse-of-governments
Thank you @taskmaster4450 , I just read the article with the link you posted. I liked it, but tried to upvote it and that did not work. Whatever... Thanks for responding! :D
I need to study what you said.