Are central banks losing control? | Bitcointalksearch.org

megynacuna

sr. member

Activity: 756

Merit: 253

Quote from: zikel on March 16, 2017, 06:23:53 AM

The central bank does not lose control. There is no reason to think so. Bitcoin does not yet have a strong impact on the economies of countries

Precisely, since they are in control that's why they are injecting such an amount to remedy the situation in case of any unforeseen circumstances. They may only Lise control if they don't have solutions to the pressing financial problems.

deisik

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: iv4n on March 19, 2017, 06:05:46 AM

Quote from: tyz on March 10, 2017, 05:14:06 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?

I wish to ask obvious question: " Where this 200 billion dollars are going every month?" For bonuses and paychecks? With this money there will be no poor and hungry people in the world. Are we aware of that as a community?

200B dollars is not a big amount

The US national debt is around 20T dollars (I don't know the exact figures), so 200B dollars monthly is equal to 2.4T dollars annually, i.e. something like 15% yearly growth in the debt. Obviously, not all these dollars contribute to the US national debt. After all, the amount of money in circulation should be enough to cover the needs of a growing economy. In this way, if an economy is in fact expanding it would evidently need more money. And the whole world economy is estimated to be worth over 100T dollars (indeed, it is not just about dollars), but 200B dollars monthly may not really be a big deal on a world scale

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: tyz on March 10, 2017, 05:14:06 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?

I wish to ask obvious question: " Where this 200 billion dollars are going every month?" For bonuses and paychecks? With this money there will be no poor and hungry people in the world. Are we aware of that as a community?
They are not losing control, they wish situation to stay unchanged because only in this circumstances they can rob people for their own good.
Ask yourself where all that money is going, that is what is important.

posternat

hero member

Activity: 798

Merit: 500

Quote from: zikel on March 16, 2017, 06:23:53 AM

The central bank does not lose control. There is no reason to think so. Bitcoin does not yet have a strong impact on the economies of countries

Yes, exactly, the economic status of one country cannot feel the movement of bitcoin, and so it does not affect it. Central Bank has a good system to lose control, so how does this speculation goes? I Think its too early to say that central bank of any country can lose control because of bitcoins and other digital currency.

jaysabi

legendary

Activity: 2044

Merit: 1115

★777Coin.com★ Fun BTC Casino!

Quote from: tyz on March 10, 2017, 05:14:06 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?

Can you cite this up at all to provide some context for where the assertion is coming from? It makes it impossible to give any kind of meaningful response when the premise provided can't be evaluated for accuracy. I'd like to see where this data point came from so I can read about it.

deisik

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: pearlmen on March 18, 2017, 08:17:42 AM

Quote from: tyz on March 10, 2017, 05:14:06 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?

Central banks to me are not really losing and if the they really pumping that amount then it has a purpose which I believe has an overall effect on the economy. Going down memory lane, the central bank has even been the one holding the economy together with their policies and the moment they start failing, the economy starts crushing. And if they are doing that, its to protect everyone who will be affected in case the economy bloats itself

It is hard to tell what is the cause and what is the effect here

What I mean to say is that it more often seems to be the case when the economy first begins to slow down and then banks fall, not the other way round. Basically, central banks are trying to stimulate a stagnating economy by issuing excessive amounts of fiat (at least, that's what we are constantly being told). This is not to say that excessive amounts of fiat being injected into the economy cannot be dangerous on their own, but if we are to remain realists, there is no reason to think that most central banks would be printing money just for the fun of it. There is always a cause behind them doing that, and it is not always nefarious or evil

pearlmen

sr. member

Activity: 322

Merit: 250

Quote from: tyz on March 10, 2017, 05:14:06 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?

Central banks to me are not really losing and if the they really pumping that amount then it has a purpose which I believe has an overall effect on the economy. Going down memory lane, the central bank has even been the one holding the economy together with their policies and the moment they start failing, the economy starts crushing. And if they are doing that, its to protect everyone who will be affected in case the economy bloats itself.

Vivace92

member

Activity: 112

Merit: 10

Quote from: Mitcsell on March 16, 2017, 07:16:55 AM

It is doubtful, but they may someday lose control. The global process of quantitative easing has moved to a new and yet incomprehensible stage.

Although it lost control, I'm sure the central banks could still improve because supported by law and the government, and rest assured that the central bank will do the best for us.

sportis

sr. member

Activity: 406

Merit: 252

Veni, Vidi, Vici

Quote from: tyz on March 10, 2017, 05:14:06 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?

This a quote from a well known sociologist and historian (as he claims) named Wallerstein. He was doing this question in other words at a recent thought on China China is Confident: How Realistic? In this article he refutes China's declarations; that it performs better in the world-economy than any other country else and the second one that it is growing stronger all the time its geopolitical position. Maybe I could agree for the first but at sure I won't with the second one which refers to geopolitical place. Moreover, I am skeptic because the particular scientist is known for his theories (anti-globalization movement)and certainly is not very objective.

lordquanta

sr. member

Activity: 770

Merit: 268

In Todays world banks are finding bitcoin or digital cryptocurrencies as challenge worthy of taking notice. They might in phase of evaluating possible threat value from cryptocurrencies. If they find more and more people are moving towards cryptocurrencies then they will take strict action against it with help of regulatory bodies. One such example is in New Zealand a bank has closed the accounts of a bitcoin exchange without any reason.

https://www.cryptocoinsnews.com/new-zealand-bitcoin-exchange-bitnz-to-close-in-april-due-to-banks-refusal-to-allow-bitcoin-trades/

Kevin77

legendary

Activity: 1652

Merit: 1057

Quote from: LisaLee555 on March 17, 2017, 01:55:29 AM

I am not an expert, but I am sure everything is possible. We are experiencing a kind of financial crisis today ( according to http://planetaryproject.com/global_problems/economic/ ), and it will provoke kinda chain reaction in every country, in every sphere of life.

With the usage of fiat currency, economic crisis and then stabilization are becoming most common events, happening almost with every country's economy. The inflation and unemployment are few of influencing factors here. I believe bitcoin will be the perfect solution for an individual to protect himself.

When an individual person decides to adopt bitcoin for his financial freedom, there will be no wonder that their central banks will be losing control over their economy. It is a basic human right, one can choose whatever financial system for their betterment. Still this will make the government/central banks to worry because they will be losing control over their financial system in long run.

LisaLee555

member

Activity: 66

Merit: 10

I am not an expert, but I am sure everything is possible. We are experiencing a kind of financial crisis today ( according to http://planetaryproject.com/global_problems/economic/ ), and it will provoke kinda chain reaction in every country, in every sphere of life.

deisik

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: South Park on March 16, 2017, 04:47:53 PM

Quote from: deisik on March 16, 2017, 04:54:50 AM

Quote from: South Park on March 15, 2017, 03:22:27 PM

Quote from: bitbunnny on March 14, 2017, 05:37:45 PM

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

But this is precisely the mistake they are doing, they think they make the rules but they don’t, bitcoin has showed to them that the people can make and change the rules themselves, that is why bitcoin is such a threat to them because they no longer have the control they thought they had over the economy

That's the crucial point of your post

The problem with it is that they still have complete control over the economy, any way you look at it. Indeed, they don't have control over Bitcoin but, honestly, do they really want it? Bitcoin is still essentially nothing in terms of real economy, its impact on it is massively inconsequential and miserable at best. There are only a few merchants that accept Bitcoin in the whole world, and this acceptance is in fact entirely nominal since they convert their Bitcoin proceeds into fiat right away

I will be the first to admit bitcoin is just a drop in a big ocean and that bankers probably don’t care too much about it, but bitcoin is an important development because it gives us an alternative, just a few years ago you used fiat or fiat, bitcoin is the first alternative in a long time.

And what does it change in the end?

It is not enough to be an alternative. It should be a viable alternative in the first place and then it should get widely used to become a working alternative. Transacting with gold or other precious metals is also an alternative to fiat payments (in some sense), but it is as irrelevant as transacting with Bitcoin at a larger, world scale. Ultimately, it is the end result that matters, and Bitcoin influence on the real economy is negligible as of yet. It is just a vehicle for speculation, but that's pretty much all (if we to remain honest and cut the crap)

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: deisik on March 16, 2017, 04:54:50 AM

Quote from: South Park on March 15, 2017, 03:22:27 PM

Quote from: bitbunnny on March 14, 2017, 05:37:45 PM

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

But this is precisely the mistake they are doing, they think they make the rules but they don’t, bitcoin has showed to them that the people can make and change the rules themselves, that is why bitcoin is such a threat to them because they no longer have the control they thought they had over the economy

That's the crucial point of your post

The problem with it is that they still have complete control over the economy, any way you look at it. Indeed, they don't have control over Bitcoin but, honestly, do they really want it? Bitcoin is still essentially nothing in terms of real economy, its impact on it is massively inconsequential and miserable at best. There are only a few merchants that accept Bitcoin in the whole world, and this acceptance is in fact entirely nominal since they convert their Bitcoin proceeds into fiat right away

I will be the first to admit bitcoin is just a drop in a big ocean and that bankers probably don’t care too much about it, but bitcoin is an important development because it gives us an alternative, just a few years ago you used fiat or fiat, bitcoin is the first alternative in a long time.

Yanisumin

hero member

Activity: 648

Merit: 502

Yes it is. Central banks are slowly getting drowned by their debts. There are so many factors that making in losing their control. The endless needs by the people of the country, by enriching the rich companies, losing track of what they are injecting to keep it from imploding, by the greed's of the leaders of the country. Central banks is at the brink of destruction, we don't even know if the USA still has their gold reserve. The fort Knox is said to be empty. The middle East is losing the oil reserve because people are turning into renewable energy. For about 20 years more middle East won't be able to sustain the luxury that they are experiencing right now. Is this our fault? Is our country at fault? No one won't give an answer and no one will claim. They have said that the world is a couple of trillion of dollars in debts but who the world owned? Pluto?
Even if we don't research about this, you can see that a central bank of a country is losing control when it's people is starving for death. When the countrie's population average is way too poor. A big yes for me tho'

Mitcsell

full member

Activity: 121

Merit: 100

It is doubtful, but they may someday lose control. The global process of quantitative easing has moved to a new and yet incomprehensible stage.

zikel

full member

Activity: 188

Merit: 100

The central bank does not lose control. There is no reason to think so. Bitcoin does not yet have a strong impact on the economies of countries

bravehearth0319

hero member

Activity: 1022

Merit: 500

Quote from: Rockie1234 on March 10, 2017, 05:21:51 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.

But nowadays it will become difficult to adopt by the masses of that kind of payment. if that's the case the people would get frustrate and disappoint of usage in bitcoin just for a coke only they need to wait 30 mins. for confirmation, that's totally holy cow Grin

So I think it will take more years before it become convenient for the bitcoin users. In my point of view then bank is also losing control in some other way too.

deisik

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: South Park on March 15, 2017, 03:22:27 PM

Quote from: bitbunnny on March 14, 2017, 05:37:45 PM

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

But this is precisely the mistake they are doing, they think they make the rules but they don’t, bitcoin has showed to them that the people can make and change the rules themselves, that is why bitcoin is such a threat to them because they no longer have the control they thought they had over the economy

That's the crucial point of your post

The problem with it is that they still have complete control over the economy, any way you look at it. Indeed, they don't have control over Bitcoin but, honestly, do they really want it? Bitcoin is still essentially nothing in terms of real economy, its impact on it is massively inconsequential and miserable at best. There are only a few merchants that accept Bitcoin in the whole world, and this acceptance is in fact entirely nominal since they convert their Bitcoin proceeds into fiat right away

Pettuh4

sr. member

Activity: 812

Merit: 251

Quote from: tyz on March 10, 2017, 05:14:06 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?

I think they are but I don't know the extent to which they've list control but it might take some time before it becomes evident for all to see.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: bitbunnny on March 14, 2017, 05:37:45 PM

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

But this is precisely the mistake they are doing, they think they make the rules but they don’t, bitcoin has showed to them that the people can make and change the rules themselves, that is why bitcoin is such a threat to them because they no longer have the control they thought they had over the economy.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: tyz on March 10, 2017, 05:14:06 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?

Probably they are now and the lending system of each banks needed to be moderated by them or else worst situation will come again. Debt will always lose them in control. But I guess they know the risk and they are already doing something for the amount that they need to cope up.

pokerplayer

newbie

Activity: 52

Merit: 0

Yea they are loosing control and that can be good because we will not need so much banks anymore I really hate banks because they just want take our money with any way which they know.

Gameroid

hero member

Activity: 798

Merit: 501

Quote from: SvenBomvolen on March 12, 2017, 10:32:37 AM

Bitcoin appeared exactly in the year of the world's financial crisis and I am sure it appeared exactly with the target to skip the banking system and government's control. With bitcoin you are your own banker and i think bitcoin's spreading over the world makes banks to loose control.

i do not think that it is so easy, to me i think every government have full control over their fiat currency and currently bitcoin or any other fiat currency is not creating any problem for fiat currency anywhere.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Ron~Popeil on March 11, 2017, 05:58:23 PM

Quote from: v1ryspro on March 11, 2017, 11:34:35 AM

Quote from: Maslate on March 11, 2017, 04:29:59 AM

Quote from: Xester on March 11, 2017, 04:01:36 AM

Quote from: tyz on March 10, 2017, 05:14:06 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

I agree with you as the central banks are just like soldiers who are dictated by the government to suck the money out of people and hence central bank will never ever lose control and they have authority to make illegal as legal and legal as illegal in simple words they can mould the law as per their convenient to rule with iron fist. Some are even planning to tern bitcoin as illegal but now it is not possible

It is the other way around governments are slaves to the bankers, bankers are the ones that tell the government how they will like to shape the laws to their convenience, if governments make bitcoin illegal, make no mistake it will be because the bankers want it that way.

Carlsen

hero member

Activity: 910

Merit: 501

I don't think they are losing controle.
In case of emergency they print some fresh money and pump it into the market.
In case of real emergency they even help one another because in the end they are all depending on each other.
Central banks are in the game now for a very long time.
Maybe one day a scenario will occure they can not handle. But right now we are not in it.

dirokkl

full member

Activity: 235

Merit: 250

I do not think that central government banks will ever lose control. They control the circulation of the national currency in the country. And the government will never take this function from them

Mometaskers

hero member

Activity: 1764

Merit: 584

I don't see these banks losing control anytime soon. After all, this is an arm of the government and the government have the means to impose its will. Hard to trust it though when you have a financial crisis every few decades or so. Hopefully bitcoin will reach the point where it will be hard for the government to ban and regulate it so we can avoid getting dragged into whatever mess they end up making.

lol3c

hero member

Activity: 518

Merit: 500

Quote from: SvenBomvolen on March 12, 2017, 10:32:37 AM

Bitcoin appeared exactly in the year of the world's financial crisis and I am sure it appeared exactly with the target to skip the banking system and government's control. With bitcoin you are your own banker and i think bitcoin's spreading over the world makes banks to loose control.

This is the first time i have heard about this information. Thanks for provding it to me. Thanks Satoshi for making a great design for us to use. And to all the people who do not know that Bitcoin is or still doubt that bitcoin can become the next currency, you should better learn to accept it because in the future, there will be another crisis and the inflation will appear

SvenBomvolen

hero member

Activity: 588

Merit: 500

Bitcoin appeared exactly in the year of the world's financial crisis and I am sure it appeared exactly with the target to skip the banking system and government's control. With bitcoin you are your own banker and i think bitcoin's spreading over the world makes banks to loose control.

deisik

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: LeGaulois on March 12, 2017, 07:07:56 AM

The real question is: Are the people behind the central banks losing control? Lot of europeans countries, for exemple, have all moved to impose negative interest rates in a bid to prevent their currencies from rocketing in value

I would be much interested to hear how negative interest rates mean that central banks are losing their grip on finances

Or, in other words, why would more expensive money (since this is basically what you imply) really mean that, i.e. losing control? It is typically quite the other way round. It is said that central banks are losing control over the money they issue when this money loses all value due to excessive printing, and inflation rates are surging to hundreds of percentages. A glaring example of that is the notorious Zimbabwean dollar, which was ultimately completely driven out of circulation by the US dollar and other currencies when it simply ceased to be money in the end. I guess this was an example of a central bank (as well as government) completely losing touch with reality (not just control over money)

LeGaulois

copper member

Activity: 2940

Merit: 4101

Top Crypto Casino

The real question is: Are the people behind the central banks losing control? Lot of europeans countries, for exemple, have all moved to impose negative interest rates in a bid to prevent their currencies from rocketing in value

alexey199773

newbie

Activity: 37

Merit: 0

World central banks lost control over the interest rate market, which means that when they begin to reduce their financial assistance to the economy - and sooner or later it will happen anyway - we are in for a hard time. There is still no reason to say that we are a step away from a global sell-off in the global bond markets, but now we know a little more about what will happen when successive monetary easing measures begin to consistently curtail. The prospect is depressing.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: tyz on March 10, 2017, 05:14:06 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?

In a way yes, but at the same time you need to look from their perspective, they are injecting this massive amount of cash to to world economy and it has not imploded, I’m sure they fell like they have the control but soon they will find out how mistaken they were.

user27

sr. member

Activity: 266

Merit: 250

Quote from: tyz on March 10, 2017, 05:14:06 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?

Well sooner or later yes.

They have never had full control of the economy. No way they can predict what the people are thinking and all that.

Interest rates can only be manipulated to a certain point and then it's not going to work.

Same with printing more money.

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: v1ryspro on March 11, 2017, 11:34:35 AM

Quote from: Maslate on March 11, 2017, 04:29:59 AM

Quote from: Xester on March 11, 2017, 04:01:36 AM

Quote from: tyz on March 10, 2017, 05:14:06 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

I agree with you as the central banks are just like soldiers who are dictated by the government to suck the money out of people and hence central bank will never ever lose control and they have authority to make illegal as legal and legal as illegal in simple words they can mould the law as per their convenient to rule with iron fist. Some are even planning to tern bitcoin as illegal but now it is not possible

ivanst776

legendary

Activity: 1540

Merit: 1003

Quote from: tyz on March 10, 2017, 05:14:06 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?

Where are these $200 billion a month coming from? Aren't they just printing the money and use for this purpose. The debt is really high and especially U.S debts where we can see live here: usdebtclock.org

There can be some moves in backstages into blockchain technology or at least they are in testing phase.

And people are getting more and more involved in cryptocurrencies and the money soon will be only online and digitalized.

Myfe

sr. member

Activity: 476

Merit: 255

Quote from: tyz on March 10, 2017, 05:14:06 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?

I may be splitting hairs here, but I don't think it's the central banks that have lost control, it's the government's the central banks support that have lost control. The central banks aren't doing the spending, they just have to react to the spending and the consequences. Governments need to stop spending so much money. Every social service doesn't have to be made available to every citizen. Citizens need to understand the consequences for not earning their own way through life.

giveen

hero member

Activity: 826

Merit: 1004

Nope you are just over thinking central banks have been controlling from years and they will continue to control. Even though nowadays we see many people getting aware of what the truth id and alsp protesting but I don't think anything is ever going to happen the protest will dissolve soon. Plus there isn't any alternative to it so no use

lukew

jr. member

Activity: 81

Merit: 4

Quote from: Rockie1234 on March 10, 2017, 05:21:51 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

sr. member

Activity: 1484

Merit: 253

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

hero member

Activity: 770

Merit: 500

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

sr. member

Activity: 282

Merit: 250

Quote from: Maslate on March 11, 2017, 04:29:59 AM

Quote from: Xester on March 11, 2017, 04:01:36 AM

Quote from: tyz on March 10, 2017, 05:14:06 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

sr. member

Activity: 476

Merit: 254

Quote from: tyz on March 10, 2017, 05:14:06 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

hero member

Activity: 1442

Merit: 629

Vires in Numeris

Quote from: Rockie1234 on March 10, 2017, 05:21:51 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

hero member

Activity: 2954

Merit: 672

Message @Hhampuz if you are looking for a CM!

Quote from: Xester on March 11, 2017, 04:01:36 AM

Quote from: tyz on March 10, 2017, 05:14:06 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

hero member

Activity: 994

Merit: 544

Quote from: tyz on March 10, 2017, 05:14:06 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

legendary

Activity: 3486

Merit: 1280

English ⬄ Russian Translation Services

Quote from: tyz on March 10, 2017, 05:14:06 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

legendary

Activity: 3248

Merit: 1070

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, 05:21:51 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

legendary

Activity: 2562

Merit: 1441

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

legendary

Activity: 966

Merit: 1042

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

legendary

Activity: 1232

Merit: 1000

Quote from: tyz on March 10, 2017, 05:14:06 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

hero member

Activity: 2352

Merit: 905

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, 05:21:51 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

sr. member

Activity: 476

Merit: 251

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

legendary

Activity: 1722

Merit: 1000

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

tyz

legendary

Activity: 3360

Merit: 1533

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? (Read 2612 times)