Mark Carney, Governor of the Bank of England, flirts with the idea of a virtual currency as a substitute for the USD:

"As a consequence, it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of central bank digital currencies. Even if the initial variants of the idea prove wanting, the concept is intriguing."

Bitcoin fixes this.

If it worked properly like digital cash it'd be great for btc, but central banks would never create something you could trade freely without some method of control.

@Firedragon888 Central banks can't control gold much either and yet keep it as part of their reserves. If all goes "well" then by 2030 Bitcoin could reach a market cap in the order of $50 trillion (in today's purchasing power). It would then become unavoidable for central banks to somehow relate to Bitcoin.

Sign in to participate in the conversation
Bitcoin Mastodon

The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!