Don’t fear the fedcoin. But then again, don’t use one either.

The fundamental and unethical nature of their money will remain unchanged. It will be imposed by force, and its supply will be managed by a secret process. It will be as unreliable as all fiat currency ever was. This is the very definition of lipstick on a pig.

These systems allow for peer-to-peer transactions without central clearinghouses, without central banks.

Weekly P2P trading volume (in Ksh) on LocalBitcoins

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