Craptocurrency

[E7]

Instead of the Dollar, we could call the basic unit the Orwell. Not an idea I am wildly enthusiastic about. Twitcoin? Smokeupyourarsesium? Coming our way whether we like it or not?

[Mitch]

The Fed has been pushin' to get rid of cash for quite some time because it's too hard to trace cash. If you can't trace it, you can't tax it. Too bad for the professional counterfeiters! They were getting so good at it that even the professionals (Secret Service) were having a tough time figuring out what's real and what isn't.

[E7]

The Fed has been pushin' to get rid of cash for quite some time because it's too hard to trace cash. If you can't trace it, you can't tax it.

Thus my suggestion of Orwell for the name of the currency unit. 1984 has arrived.

[E7]

`Too bad for the professional counterfeiters! They were getting so good at it that even the professionals (Secret Service) were having a tough time figuring out what's real and what isn't.

As best I recall, the main impediment to the counterfeiters has long been the paper used to make bills. That brings to mind, how many foreign governments are involved in counterfeiting efforts? Seems to me there are a lot less messy ways to bring down a country than bombs.

[Rufus T. Firefly]

As best I recall, the main impediment to the counterfeiters has long been the paper used to make bills.

It was for a long time, and then it wasn't. So they added microprinting and embedded bits that only show up under UV lighting and other fun stuff that you can't replicate with your high end copier and printer.

That brings to mind, how many foreign governments are involved in counterfeiting efforts?

All of them. It's a time honored tradition that goes back to the invention of currency.

In part, that's the attraction of cryptocurrencies.

[E7]

That brings to mind, how many foreign governments are involved in counterfeiting efforts?

All of them.

In part, that's the attraction of crytocurrencies.

And they'll have hackers working to bust that 24/7. Crytocurrencies??? Is that for those frozen cats?

[Rufus T. Firefly]

That brings to mind, how many foreign governments are involved in counterfeiting efforts?

All of them.

In part, that's the attraction of cryptocurrencies.

And they'll have hackers working to bust that 24/7.

Not easily actually; the computing power required is well beyond mere mortals and exceeds that of some countries. It has been interesting watching the flux in values leading up to and then after Russia's invasion. You can see who has substantial holdings in that area as it shifted.

Personally, would not touch it; reminds me too much of tulips.

[HONDO74]

China has been trying to push another currency to do away with the dollar as the world currency for goods

[Rufus T. Firefly]

China has been trying to push another currency to do away with the dollar as the world currency for goods

Nobody is buying that -- nothing behind it.

[HONDO74]

China has been trying to push another currency to do away with the dollar as the world currency for goods

Nobody is buying that -- nothing behind it.

And yet China and India are both bypassing the banks that have been sanctioned to buy coal and oil from Russia. China has already been bypassing sanction to buy oil from Iran