Topic: . - page 3. (Read 3273 times)
I doubt that the banks will rely on private individuals to do the mining for them. One of the risks identified so far with Bitcoin seems to be the anonymity of the miners. The
policymakers do not want to run a whole financial system on a decentralized network consisting of a bunch of unidentifiable nodes. They will most probably use decentralized
data centers situated within banks distributed within different countries. They need to know who to trust, if something goes wrong. If they want to make a change to the
protocol, they do not have to wait for consensus, they can just distribute the new client and it's done.
... Time will tell, if I am right or wrong.
policymakers do not want to run a whole financial system on a decentralized network consisting of a bunch of unidentifiable nodes. They will most probably use decentralized
data centers situated within banks distributed within different countries. They need to know who to trust, if something goes wrong. If they want to make a change to the
protocol, they do not have to wait for consensus, they can just distribute the new client and it's done.
... Time will tell, if I am right or wrong. This........AGAIN.
The fiat banking system is too greedy to create a rival blockchain to transfer money like bitcoin. Can you imagine the fees they'd set
It'd be rendered useless as a direct competitor to bitcoin.
The fiat banking system is too greedy to create a rival blockchain to transfer money like bitcoin. Can you imagine the fees they'd set
It'd be rendered useless as a direct competitor to bitcoin.
If their fee is too high, nobody will use the bank coin. However, if the coin is GPU mineable, I will mine the coin to earn some fees.
Well, they can develop whatever they want, nobody will even touch it with a stick. Probably only banks and those who are affiliated with them would use such a centralized currency.
Also, this has nothing to do with Bitcoin, Core, XT, Unlimited, Classic or any other Bitcoin implementation or any altcoin, for that matter, this is about a centralized currency backed by banks which has a blockchain that can be run privately.
Also, this has nothing to do with Bitcoin, Core, XT, Unlimited, Classic or any other Bitcoin implementation or any altcoin, for that matter, this is about a centralized currency backed by banks which has a blockchain that can be run privately.
So this is what this bitcoin classic was about 
I had a feeling something was going on with this mike hearn guy and all the ruckus he caused with just one statement. The banks are getting scared so this is their next move so they can sleep at night not losing anymore minute profits from people getting smart and moving their money out of their hands.
I had a feeling something was going on with this mike hearn guy and all the ruckus he caused with just one statement. The banks are getting scared so this is their next move so they can sleep at night not losing anymore minute profits from people getting smart and moving their money out of their hands.
I would quit worrying about banks and concentrate on China. Chinese miners are tired of waiting for a blocksize increase and are starting to support Classic. Just may be the push core devs need to fork to 2 MB first. This may be a case of first client to 2 MB blocksize wins.
I'm starting to think Core would rather lose this fight than cave. It's a damn shame.
Cannot be possible. I cannot understand the spoken English so I am not able to hear and understand what is told in the video but creating a new FORMAL CURRENCY is not possible to be made by any kind of commercial banks. The only Authority which have such right is only a Central Bank or a similar Authority (for example FED). They can create some coin (even very complicated or using the peer to peer) but there are thousand of those in circulation beginning from the tokens of the games. Any kind of risk cannot have bitcoin from such initiatives (always if will be finalized). Bitcoin is born out of such kind of subjects and have been its activity since today without having even the minimum of need about those. So they can do what will want. Will have to do only with their world. Not with the world of bitcoin.
Millions people in the world will lost their job If Bitcoin kill banks successfully. People surely don't want that happen. However Bitcoin could serve as a kind of minority payment tool to survive. Personally I don't think Bitcoin will take place of Bank, credit card and central bank. I am a Bitcoin fan though.
I would quit worrying about banks and concentrate on China. Chinese miners are tired of waiting for a blocksize increase and are starting to support Classic. Just may be the push core devs need to fork to 2 MB first. This may be a case of first client to 2 MB blocksize wins.
That's certainly worrying..But they will have many disadvantages as well.
Banks are regulated entity. so they can't create a decentralized currency. They will have to employ proper accounting system for that. They will have to keep track of every single transaction. So they will never have the anonymity what bitcoin enjoys. So a lot of people will simple not indulge in to this.
But the most worrying part is that, if the banks are started using blockchain technology to create their own currency...we will soon see an influx of fiat currency in to the organized and regulated market which will decrease the value of traditional currency which will in turn make the people poorer, especially those who have never experienced the crypto world. Bad thing for economy.
Banks are regulated entity. so they can't create a decentralized currency. They will have to employ proper accounting system for that. They will have to keep track of every single transaction. So they will never have the anonymity what bitcoin enjoys. So a lot of people will simple not indulge in to this.
But the most worrying part is that, if the banks are started using blockchain technology to create their own currency...we will soon see an influx of fiat currency in to the organized and regulated market which will decrease the value of traditional currency which will in turn make the people poorer, especially those who have never experienced the crypto world. Bad thing for economy.
This........AGAIN.
The fiat banking system is too greedy to create a rival blockchain to transfer money like bitcoin. Can you imagine the fees they'd set
It'd be rendered useless as a direct competitor to bitcoin.
The fiat banking system is too greedy to create a rival blockchain to transfer money like bitcoin. Can you imagine the fees they'd set
It'd be rendered useless as a direct competitor to bitcoin.
That's why they're getting behind Bitcoin Classic. That's their next move.
https://twitter.com/jerallaire/status/688232046951403520
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The only way to save Bitcoin is for this community to rally around core.
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