Tuesday, July 18, 2017

In Japan with the ever popular bitcoin

One of the large consumer banks will open a branded side chain, everyone will put their personal Brc on account and grab the Btc card, spending under the bank's bitcoin brand. The new S&L site can guarantee loss limits to 1.5%, run very accurate stacks.

See how the Japan central bank has frigged itself?  They can get leaped into a bad coordination failure.  Central banks, get a clue, fast.

What can the Japanese government do?

Mine their own coins. Do the deal, let the major banks go to branded bitcoin, but the central bank gets all the mining business. The central banks can inject their own block chain, maintain it separately, then update the central bank main block address infrequently with adjustments, mostly gains.

Good idea?
I dunno, but legal in the sandbox as long as personal ownership and personal access to the main block chain is not restricted by government. It is a fine line, the sandbox encourages insider plots, they cause innovations and the pit boss gets some exercise.

The central bank queue to the main block chain is observable, as would be the ledger calls from large banks to the central bank.  The par trade should be maintained back to the block chain as pricing equalizes queues, and so also risk.  It seems a fair deal for the pit, I am not biased one way or the other. Most other central banks will want to mine bitcoin. Kind of like a gold standard with a bit of alchemy.

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