ZEROHEDGE - Central Bank Digital Currencies Are Doomed To Fail - And Here's Why
(www.zerohedge.com)
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This my questions about who creates and controls the digital currency and it's transfer mechanisms.
This is how Bitcoin is designed to more or less maintain itself. There is a core group of developers tasked with updating or tweaking the current version of the Bitcoin client that everyone uses. Beyond that the system runs itself. It's hardwired in exactly how many fresh Bitcoins will be mined each day. And it's also hardwired in that each user's name and identity is not directly connected to their blockchain wallets. The whole system is designed to be as private and tamper proof as possible, and has been very successful in that respect.
What is the value of the email protocol? Priceless. It's an extremely valuable protocol to move messages, just as Bitcoin is a protocol to move wealth.
Any Central Bank Digital Currency will be a pale copy of Bitcoin, a Frankenstein tool to remove all privacy and not be a sound money, but an infinitely manipulated currency capable of enslaving those who use it.
Anything that is "programmed" or "hard-wired" can be changed. But, it is likely to be destructive to the entire system. A bothersome notion.
To the best of my knowledge, no one has been able to compromise the blockchain by altering the Bitcoin client.