Highly recommend this lecture for anyone interested in how central bank fixes the short term interest rate. - very simplified ! #money #lectures
Discussion
#bitcoin is certainly not a currency!
To make something a currency - the fundamental requirement is
- It must provide a fix price for goods and services .
- it must be tax free.
It takes hell lot of management and intervention to stabilize the prices beyond a basic immutable ledger .. unless bit oin network provides that rigor , #bitcoin can't be used as currency ..
A better alternative however is if Fed intervenes to stablize #bitcoin price ...but that would be super fail ..becuse then #bitcoin would cease to an asset ..
And it is THE BEST Asset ... Humans should latch on to it like their lives depend on it :+)
You are not allowed to talk about bitcoin.
Yes .. I noticed that comment :-) ..though I am pretty sure he holds !
And the reason I still recommended cuz I thought it was about Fed functions .. kinda important cuz I think lot of bitcoiners don't fully appreciate how Fed actually works .. and the mechanics of turning a volatile assets into a stable currency .. ( asset being a bond but may generalized for gold bitcoin or equities )
The message I wanted to pass was it is lot of work to turn an asset into a currency besides being a powerful entity with armies :-)