My friend was telling me some things that warrant some real discussion.
First of all, Bitcoin was created by DARPA. In the early 2000s, they were working on a project called LifeLog. You can look this up, and it was supposed to be a system that could track important events in people's lives. Apparently development of LifeLog never completed but they did have a working currency tracker aka Bitcoin.
In 2008, when the financial crisis hit, the FED created massive amounts of US dollars to keep the financial sector from caving in. They printed well in excess of the public figures and they destroyed the dollar but this information could not be leaked. Today people talk all the time about how the dollar is trash and this and that and the FED does almost nothing to counter this kind of talk because they already know.
In 2009, shortly after the crisis. The FED anonymously released Bitcoin and played it off like an indie developer created it, Satoshi Nakamoto. Even though the dollar was toast, they knew they couldn't just switch over to a new currency without jeopardizing the integrity of the United States. Releasing Bitcoin the way they did allowed for both currencies to coexist and allowed time for an ecosystem to build up around Bitcoin.
Now, as Bitcoin has matured and is beginning to stabilize. How will the next series of events unfold? The FED might express its support for Bitcoin signaling the end of the dollar. Or are they going to usher in an official US crypto and exert their power to force out Bitcoin and other cryptos?
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