Are central banks losing control? - page 3.

lukew

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Quote from: Rockie1234 on March 10, 2017, 04:21:51 PM

Cryptocurrencies are vastly superior to typical fiat currencies, but they are nowhere near as convenient at the moment. It will take a long time until a bitcoin world appears. For example, if you wanted to pay for a beverage like a Coke with Bitcoin, as of now it would be take around 30 minutes for the transaction to be confirmed, not to mention having to input the restaurant's address. It is just much quicker to hand over a note and get your Coke instantly.

I just made my first "payment" using Bitcoin on an Ingenico iCT250 using a card and PIN system. The video I made was 30 seconds long as I was having to balance the terminal, enter a card and operate the hardware with one hand. Still 20 times quicker than waiting for a single confirmation on the network

There was no actual transaction made, however that is just a case of pulling more data from the database, constructing the transaction and sending it to my local node. As a proof of concept, it works and the server generates an on the fly user balance from the available UTXO's rather than an account balance in a table

Cherylstar86

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Quote from: Rude Boy on March 11, 2017, 10:57:55 AM

Yeah they losing their control.The people have an freedom opportunity to take their financial freedom into their own hands finally. So, they tried to hand over crypto but, it is not easy. so, we'll wait and see.

Well, its doesn't really that term of losing control but actually they just allow it because of currency exchange profit from digital currency. It has a bigger impact to the income that may get from it and however these days of digital and fiat currency were very exciting about earning online, and has very fast transaction towards exchanging as well as spending online.

Rude Boy

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Yeah they losing their control.The people have an freedom opportunity to take their financial freedom into their own hands finally. So, they tried to hand over crypto but, it is not easy. so, we'll wait and see.

v1ryspro

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Quote from: Maslate on March 11, 2017, 03:29:59 AM

Quote from: Xester on March 11, 2017, 03:01:36 AM

Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

The central banks are not losing control but in fact has complete and absolute control. Those injection in billions of amount in US dollars monthly are not caused by them having no control over the system but the other way. The reason for injections is that the central banks have a complete control and well aware of the situation, they know what they are doing and possibly have a reason why they are doing it.

Central bank are a government agency to take care of financial system of a country and this world runs every government, thus I don't see in the future that we can fully get the freedom that we are looking, the government will not allow that as long as they have the power to create laws.
With their power, they can reject things that is not in favor for their agenda and worst thing is to make it illegal.

Yes, you are right - central banks are a tool for manipulating people. And this tool is in the hands of the government. And it is only interested in having full control over the citizens. Therefore, I am confident that central banks will never lose control

olushakes

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

The real question is where is the amount of $200 billion coming from obviously not from mars and definitely not that they are printing it every month. Its actually from other people money who have excess and decided to keep it either in their country or outside the country either way its coming from somewhere and that's it. Over the years, there are challenges of demand and supply and the Central banks are needed to maintain balance to avoid crisis.

bitart

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Quote from: Rockie1234 on March 10, 2017, 04:21:51 PM

Cryptocurrencies are vastly superior to typical fiat currencies, but they are nowhere near as convenient at the moment. It will take a long time until a bitcoin world appears. For example, if you wanted to pay for a beverage like a Coke with Bitcoin, as of now it would be take around 30 minutes for the transaction to be confirmed, not to mention having to input the restaurant's address. It is just much quicker to hand over a note and get your Coke instantly.

I really don't understand these kind of problems. I have a XAPO debit card for years now, and I wasn't the first one who started to use it, so it's a known thing. It's linked to my wallet directly, and I can pay with that debit card instantly. The same as a normal debit card. Of course, it's not free, XAPO charges for the card yearly or I don't know, but it works for me, so I don't care.
And it's not only XAPO, who can provide you these kind of cards, so you can choose. This is a temporary solution, until most of the merchants will accept bitcoin directly. In that case, only the speed of the confirmation will be important, but if the bitcoin debit cards can handle this problem, most of the people will live with it as it is. For the merchants, the bitcoin debit card is easier to handle, and it can also be important for them.

Central banks are OK, and are handling the financial situation, and in my country they are sending out messages to the peope periodically to be aware of bitcoin and to be really cautious

Maslate

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Quote from: Xester on March 11, 2017, 03:01:36 AM

Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

The central banks are not losing control but in fact has complete and absolute control. Those injection in billions of amount in US dollars monthly are not caused by them having no control over the system but the other way. The reason for injections is that the central banks have a complete control and well aware of the situation, they know what they are doing and possibly have a reason why they are doing it.

Central bank are a government agency to take care of financial system of a country and this world runs every government, thus I don't see in the future that we can fully get the freedom that we are looking, the government will not allow that as long as they have the power to create laws.
With their power, they can reject things that is not in favor for their agenda and worst thing is to make it illegal.

Xester

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

The central banks are not losing control but in fact has complete and absolute control. Those injection in billions of amount in US dollars monthly are not caused by them having no control over the system but the other way. The reason for injections is that the central banks have a complete control and well aware of the situation, they know what they are doing and possibly have a reason why they are doing it.

deisik

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

Honestly, I don't quite understand your question

That is, it heavily lacks specific details (let's assume that you figures are correct for the beginning). It is not clear which central banks are injecting this amount of liquidity. If it is the genuine US dollars themselves, then it is the Fed which is just printing dollars, but they are just printing more dollars (which they have been doing since times immemorial), and it would first of all affect the dollar exchange rate, surely not the "global financial system" itself. If you talk about all central banks printing so much money in dollar terms (more specifically, in terms of purchasing power parity), then 200B a month roughly equals 1.2T dollars a year. Given that the size of world economy totalled approximately 107.5T dollars in terms of purchasing power parity in 2014 (according to the CIA's World Factbook), this is not a great amount, which roughly equals annual world economic growth

Amph

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i'm still wondering how the bank can keep their "scammy game" active, with all the debt that is increasing each da while maitaining the same inflation...y, no wonder some of them ae moving to blockchain technology, they know their whole system will implode one day

Quote from: Rockie1234 on March 10, 2017, 04:21:51 PM

Cryptocurrencies are vastly superior to typical fiat currencies, but they are nowhere near as convenient at the moment. It will take a long time until a bitcoin world appears. For example, if you wanted to pay for a beverage like a Coke with Bitcoin, as of now it would be take around 30 minutes for the transaction to be confirmed, not to mention having to input the restaurant's address. It is just much quicker to hand over a note and get your Coke instantly.

address are memorized in the client, you don't ned to imput it each time, just do it with a click, you can't tell me this is a pain to do, it can't be faster really

for small transaction like that many business are not waiting a single confirmation, you can do a offline transaction with them most of the time, the only problem remain the high fee, which can be $1 to pay for a cofee, which is stupid...

Hydrogen

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I saw an article on this topic posted on zerohedge yesterday.

Many state run programs are not sustainable over the long term.

Sometimes, I wonder if they were designed to be that way. Designed to fail.

The repeal of glass steagall, which separated commercial and investment banking to prevent economic crisis like the Great Depression.

And many other recent legislature over finance and banking industries contribute to economic lack of stability over the past few decades.

Banking derivatives being thoroughly unregulated with trillions in exposure has been a massive problem for a long time.

cpfreeplz

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Yes slowly but surely they are losing control. The people have an opportunity to take their financial freedom into their own hands finally, w and we're just loving it.

pitham1

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

The real impact will be seen once inflation starts rising. All this money which has been printed will show its effect at some point.
That is when the central banks will realize how little control they have.

shield132

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Nowdays everyone is trying to get bitcoin in their hands and it won't be surprise if we see that someone will lose control and someone will gain, that is and will be provisory with current situation.

Quote from: Rockie1234 on March 10, 2017, 04:21:51 PM

Cryptocurrencies are vastly superior to typical fiat currencies, but they are nowhere near as convenient at the moment. It will take a long time until a bitcoin world appears. For example, if you wanted to pay for a beverage like a Coke with Bitcoin, as of now it would be take around 30 minutes for the transaction to be confirmed, not to mention having to input the restaurant's address. It is just much quicker to hand over a note and get your Coke instantly.

Such servises aren't working the way you said because no one will wait 30 minute for buying coca or etc. For example look Foldapp, they offer us to buy starbucks coffee with bitcoins instantly but you have to use their wallet so transaction is instant without any confirmation.

Rockie1234

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Cryptocurrencies are vastly superior to typical fiat currencies, but they are nowhere near as convenient at the moment. It will take a long time until a bitcoin world appears. For example, if you wanted to pay for a beverage like a Coke with Bitcoin, as of now it would be take around 30 minutes for the transaction to be confirmed, not to mention having to input the restaurant's address. It is just much quicker to hand over a note and get your Coke instantly.

spazzdla

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Completely. The debt system will collapse.. but it could take some time.

tyz

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Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

Topic: Are central banks losing control? - page 3. (Read 2627 times)