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Best Web OpEds    H4'ed 5/13/21

Unregulated digital cryptocurrencies vs regulated national currencies: Is there a danger?

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From live.staticflickr.com: Bitcoins and Cryptocurrency coins on $10,000 straped stacks of $100 dollar bills cash money
Bitcoins and Cryptocurrency coins on $10,000 straped stacks of $100 dollar bills cash money
(Image by Crypto360 from flickr)
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A decentralized electronic system of payments which is independent of the existing traditional banking system. It is based on a new form of digital ‘currencies’ or ‘electronic currencies’  -  the ‘cryptocurrencies’  -  some observers have called the cryptocurrency innovation a sort of a new 21st Century digital gold rush.

Such private digital “cryptocurrencies” bear little resemblance to traditional national currencies which are issued and supervised by a government and a central bank and which are legal tender to complete sales and purchases.

They are not regulated, they have no physical counterpart, such as gold or silver, and they are not legal tender to serve as a means of payment. They are purely private entities..

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At www.intrepidreport.com

 

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Lance Ciepiela is a retired senior who had an interesting career in government service - a United States Marine Corps (USMC) Vietnam-Era veteran, who became interested in restoring the Constitution after I realized that W Bush had attacked (more...)
 

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