Because Chase customers feel comfortable with Chase. BoA customers feel comfortable with BoA, etc. People would be less willing if it came from the fed. The Fed would relinquish nothing as they would still be pegged to the dollar. Think Tether, but coming from banks. Manipulate the dollar, manipulate the coin
Discussion
Good point but wouldn’t the competition between the banks keep each other honest?
it doesn't keep em honest now. And since there are only a few 'big banks', it would be easier to collude. Think Master Card and Visa. They can increase fees and change ToS all they want, but because they are the two major players, there isnt much customers can do. Either use it or don't. I see it as a slow walk to it like all their other plans. Its not like next week they will suddenly switch, know what I mean? There will be test programs here and there to acclimate people. People will talk. More people will try. Which will increase demand for more businesses to accept it. Network effect weaponized against and most will sleep walk right into it. We got time on this I feel safe saying, but it will be slow walked into existence that we can be sure of. Will it succeed? That's another topic, but pretty certain they will try. Its needed for their total control desires so that alone ya know they will try something
Yeah I get what you’re saying. I guess the nice thing for us is that whatever they do and how they decide to do it is mostly irrelevant for Bitcoiners.