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Keyword: ecurrency

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  • Federal Reserve to Launch Its Own E-currency: Fedcoin

    09/23/2017 11:10:02 AM PDT · by PPSman · 39 replies
    EconomicPolicyJournal.com ^ | September 23, 2017 | Robert Wenzel
    The U.S. Federal Reserve will not only issue its own cryptocurrency but will also make sure Americans use it, according to Doug Casey. “To start with, I suspect it’s going to be a parallel currency. Perhaps usable just within the U.S. which, in effect, would be a form of foreign exchange controls even more effective than the inability of Americans to open up foreign bank and brokerage accounts today [due to monetary control through FATCA]…I think it’s a near certainty that they’re going to do something like this and soon.” They will call it Fedcoin. David Andolfatto, vice president at...
  • Spam and the Byzantine Empire: How Bitcoin tech REALLY works

    05/23/2013 10:54:42 AM PDT · by ShadowAce · 7 replies
    The Register ^ | 23 May 2013 | Ken Tindell
    Analysis Why does Bitcoin work? Fraudsters should have left it in cinders years ago, and might have done, if it wasn’t for two things: spam and the Byzantine Empire. A Bitcoin is basically an entry in a ledger that is distributed across a network of computers. Bitcoins are transferred between parties by noting the transaction in the ledger. This might sound just like any other banking system except there’s a crucial difference: no one is in charge of the ledger. It’s held across a network of computers and anyone can add their computer to the network when they wish -...