With the big surge this week in the price of Bitcoin, an official of the federal reserve recognized the value and potential of Bitcoin and more so the block chain itself. In an article written by Lindsay Dunshmuir of Reuters, she states that Neel Kashkari, Minneapolis Federal Reserve President, stated that “I would say I think conventional wisdom now is that blockchain and the underlying technology is probably more interesting and has more potential than maybe bitcoin does by itself.” With Bitcoin trading at $1700 according to coinmarketcap.com and Steem trading at $ .95, the future of crypto-currency and the block chain are starting to gain more notoriety across the globe.
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With the majority of China starting to eliminate the use of fiat throughout the country, the use of crypto is becoming a more viable alternative, as pointed out in an article by Jamie Fullerton with Vice; Motherboard. If the US can pass an ETF (Exchange Trade Fund) for investors the use of cypto can become easily accessible for people in the states. This could not only make way for the use of Bitcoin but any alt-currency backed by the block chain. I see this being a big step forward to the growth of Steemit and crypto-currency as a whole. The only thing that I’m skeptical about are governments trying to alternate the working of the block chain to further line their pockets like they have done with fiat.
That very well could be the conspiracy theorist in me though. Not being that tech savvy and relatively new to crypto, I’m not entirely sure how that would be possible but I know that there are many people that are a part of this community that have the best interest of Steemit and crypto in mind will make any of those details known. Not only known but solution driven to make sure that doesn’t happen. With the popularity of the block chain technology progressing to the point where major governments are starting to take notice has me excited to be a part of and see where the growth of this community is a year or two from now.
Any further information, comments, insights on this matter are welcomed. As always, thank you for your attention.
fuck the fed yo
fuck em right in their face :)
This is real progress.
Upvoted and followed.
4 damn sho
Real progress indeed. I only see it progressing further from here. It's amazing the things "like minds" can accomplish without government intervention.