Read_774 – Bitcoin Won’t Fix the Federal Reserve

"Will Bitcoin adoption improve the monetary policy behaviors of the Federal Reserve? I submit that it won’t. I do not see the incentive for the Federal Reserve to give into anyone or anything, let alone Bitcoin. Be honest, Bitcoin is surely not big enough to be a threat to the U.S. dollar. The United States is far more concerned with U.S. dollar dominance being threatened by, say, the Chinese yuan. Bitcoin on its own has not destabilized anything." — George Kaloudis

Will the Federal Reserve be "reigned in" thanks to Bitcoin? Will the continued success of Bitcoin's growth and network effect mean that the Federal Reserve capitulates? That they admit the failures of their approach and start appeasing the sound money tropes and calls for austerity? George Kaloudis makes an entertaining case in today's read, that the answer is in fact, "No."

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