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A comment on Former top official says Fed should ‘Maybe’ create ‘FedCoin’ to rival Bitcoin. Parent comment

Re:Former top official says Fed should ‘Maybe’ create ‘FedCo... by whataretensors on Saturday May 05, 2018 @05:24AM (#17001042)
> We tried the "anyone can issue money" model in the 1800s, all it led to was bank runs and scams.

And now it's back with technology behind it. A lot of people call ICOs scams. What's the equivalent bank run? Perhaps a panic flee from fiat reserves?

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Re:Former top official says Fed should ‘Maybe’ create ‘FedCo... by pjc50 on Saturday May 05, 2018 @05:37AM (#17001072)
The equivalent is exit scams and flash crashes; a lot of people keep pointing out that Tether is a non backed token pretending to be a backed one.
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Re:Former top official says Fed should ‘Maybe’ create ‘FedCo... by paulgb on Saturday May 05, 2018 @07:50AM (#17001425)
> What's the equivalent bank run?

Bitconnect is sure to be one of the first of many examples. https://en.wikipedia.org/wiki/Bitconnect

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Re:Former top official says Fed should ‘Maybe’ create ‘FedCo... by whataretensors on Saturday May 05, 2018 @10:22AM (#17001912)
I'm more curious how the sporadic economy and capital flight will hit our existing centralized structures. They haven't been load tested against hyper-liquidity of cryptocurrency with mass adoption.
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