This is not good. Such a cryptocurrency would allow the government to track all monetary transactions. I discuss the dangers of such here: Federal Reserve Board Governor: The Fed is Looking Into Creating Fedcoin.
Remarkably, bitcoin surged past $10,000 on Powell’s comments.
Note to Bitcoin fanboys: If the Fed gets in the game, they are not going to allow other cryptocurrencies such as your bitcoin to hang around and compete.
End of warning.
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