21 sats \ 2 replies \ @Cje95 21 Oct \ on: Minneapolis Fed Bitcoin Paper | Article Review BooksAndArticles
Kinda funny that they called BTC a security after the SEC already came in and said it was a commodity 😂
Next couple of days I plan of looking through this cause it reminds me a lot of the Hamilton Project which freaked people out.
EDIT: It’s important we note to that this is a working paper. Essentially it is a rough draft and if it ever moves be being published it likely will be pretty different. Case in point calling BTC a security. It’s a simple correction that they can make and is the point of working papers. Gives others in the academic space a chance to see it and give their input.
Personally, I think this paper will make it easier to orange pill.
You can literally tell people that economists at the Fed proved Bitcoin prevents indefinite government deficits. (The word "prove" is with heavy caveats of course)
If the person you're talking to is inclined to distrust persistent government deficits (as most peace-loving people should), this is a positive for Bitcoin.
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Agreed! The use of BTC here as a non government controlled and capped quantity wise is huge. I agree this paper seems to delve into the theoretical more than anything and while I get it sounds scary that the Fed is doing research into this like you said it shows the Fed is waking up and paying attention.
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