Trust is everything in a decentralized system. This will apply to the Blockchain, and any future crypyocurrencies based on a decentralized system. Tho time consuming, to achieve the ultimate goal of cutting out third parties such as the bank should be well worth the time and effort. The attempt to centralize will always be present. Trust, faith, and accountability will always be the heart of decentralized technologies and cryptocurrencies. Without these you will remain in a centralized system. Like a battery to a flashlight you have the keys to make this work. cooperative networks and cooperative applications take: cooperative people. Tho created by the bank to make the transfer of value more efficient, it has evolved.
The rise and fall of value of all such crypto currencies such as Bitcoin will depend on a network of trust. Beware Fedcoin, do not forget the idea is of the banker. Take heed in his ways and his coin, centralized is a world of most any currency.
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yeah, I heard also sound like that. Over the past few weeks, investors have been flocking to bitcoin, the digital currency whose value has soared by about 2,000 percent in the past year alone. And while many economists are cautioning against excitement about bitcoin — which is caught up in what may be one of the biggest speculative bubbles in history — it’s important to note just how revolutionary the technology may be.
Indeed, the technology underlying bitcoin could fundamentally change the way we think of money.
It is only a matter of time before paper money is phased out. Sweden, where about 2 percent of value of transactions are done in cash, may eliminate physical money within five years. Most central banks are working on technologies to power a future digital currency.
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