The U.S. Federal Reserve announced through Gov. Lael Brainard that, in testing the virtual currency, no adoption commitment has been declared at this time. The revival of the prospect of government-backed virtual currencies has been directly linked to the errors in the existing monetary formula that have been exposed through the poor distribution of stimulus controls; many are still waiting to get the first and more than a billion dollars sent to the deceased (not even for the first time), the cracks are widening. At this point, the assumption is that the virtual dollar will operate in parallel to the fiat currency, which means it will not be a decentralized currency and will be open to the Influence of the Fed.
So what is a virtual currency? Digital currency is what it looks like, it exists only in a virtual format, not physical, and has the characteristics of the fiat currency. When it comes to virtual currencies, think about cryptocurrencies at most, which is the right type because cryptocurrencies are a type of virtual currency, there are key differences.
Most of the apparent differences come from the comparison between centralized and decentralized network structures, the point of anonymity, and the point of transparency. Much of what has attracted and continues to attract Americans to cryptocurrencies is its decentralized structure, which provides the highest degrees of anonymity and transparency, and also makes regulation or manipulation difficult. Digital currencies are actually the opposite, they are centralized with a central or regulatory authority, with legal frameworks that allow a safe point of overpayments, systems and users.
It’s attractive to see the Fed replace its brain over the virtual currency, not 12 months ago, it was too critical with Facebook Inc and the Pound coin, especially Bitcoin before that. In any case, the Fed aimed at security, confidentiality, cash laundering and monetary stability. I can only believe that a giant component of your tests is dealing with those same problems, creating a dollar-backed virtual currency that can be widely adopted.
The biggest consultation for me is what about the prices of existing cryptocurrencies? There is no underlying asset from which a cryptography can derive the price, so if we integrate a government-regulated and government-backed virtual currency, what happens to bitcoin, Ethereum or Ripple? They won’t disappear, but they will keep the same price as they do today, so it’s not hard to see that even regulators who want to have more virtual users can simply impose more restrictions or tighten the reins more than they already do.
Bitcoin vs USD – 4 hours – Will Bitcoin do the same as a virtual USD?
The persistent weakness of the dollar and the high costs of gold were the main explanation for the AUD/USD uptick. Shiny steel has regained its leadership, reaching point 2000, while expansion figures remain very disappointing while coronavirus cases continue to increase.
Gold remains in recoil mode with a key Fibonacci impediment in 1994 untouched$. Yellow steel has recovered more than $100 from the low of $1,862, however, an upward recovery is not yet confirmed as the resistance to $1,994.
In the past analysis, the design known in weekly and daily delays, with a downward bias and 105.95. The value met any of the designs and the goal of decline was achieved.
After taking flight from a maximum of several days above $43.00, WTI changed to around $43.10 in Tuesday’s initial Asian session. While short-term horizontal resistance questions the indicator in the energy benchmark, bullish MACD signals and strong RSI favor buyers.
Gold remains in recoil mode with a key Fibonacci impediment in 1994 untouched$. Yellow steel has recovered more than $100 from the low of $1,862, however, an upward recovery is not yet confirmed as the resistance to $1,994.
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