Perhaps I have a whole roll of tinfoil wrapped around my head, but why is this alleged form of ‘currency’ not being smashed by the Fed? Setting up ATM’s is a bold move forward and nary a peep from the powers that be. Is this the new global currency based on ‘mining’ nothing yet requiring a passport or DL to access? Yes, I am well aware of the whole Federal Reserve power trip. Does it not seem odd that ‘they’ are ‘allowing’ this to progress?
My thoughts exactly. Try to use gold or silver bullion for legal tender and you will see the walls of the graybar hotel real quickly.
How can this play money be used to “buy stuff” with?
It’s easier for the Feds to track this than to track cash. Even easier than credit card transactions since they don’t have to strong arm or inflitrate any corporations.
Well, Bitcoins don’t, afaik, claim to be anything like “legal tender” or “dollars”.
So I’m not sure the FED has any jurisdiction. I mean I could go on Amazon and sell single hairs off the top of my head and the FED wouldn’t have power to stop it.
But that, sadly, is the failure of our system. Even if the FED were to admit it didn’t have the power to stop it, if Bitcoin (or anything else) became a threat to the dollar (FRN), then the FED would somehow INVENT the power to stop it!
And the courts and police would suck up and agree.