submitted by /u/twigwam [link] [comments] |
source https://www.reddit.com/r/btc/comments/cd9xt8/bitcoin_cash_a_shortterm_data_availability_layer/
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https://www.scribd.com/document/417056845/Keep-Big-Tech-out-of-Finance-Act-Discussion-Draft
Short Title: This Act may be cited as the ‘‘Keep Big Tech Out Of Finance Act
PROHIBITION RELATED TO CRYPTOCURRENCIES
(1) GENERAL
A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of ex-change, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System.
PS: Exchange rates, Thailand, BX, 07:50 AM, Bangkok time.
I don't completely understand how Bitcoin works, but from what I have watched, I get that mining bitcoin involves keeping up the massive ledger by which all transactions are held. My only question is, what stops a massive company from using many supercomputers to process fraudulent transactions that fill their wallets?