Topic: Bitcoin has the potential to become the central bank of the central banks - page 2. (Read 373 times)
March 28, 2021, 03:01:14 PM
Bitcoin being decentralized is the main issue why banks don't use nor acknowledge it. Also I don't think that we'll ever accept giving up on the volatility of this coin where most of us take advantage to earn some profits. I would like it to remain as is.
March 28, 2021, 01:07:31 PM
I think in this decade Bitcoin will be a used as a reserve asset by some central banks, but it will not replace gold right away, it will start slow and as Bitcoin becomes more adopted and more stable, they will be holding more of it. Before Bitcoin will have a chance at replacing gold or US dollar or whatever other asset, there will be a long phase of slow and gradual adoption.
March 28, 2021, 12:38:19 PM
Bitcoin has come a long way and continues to do so. But I don't think you're ready for that. Because the price fluctuates a lot and this may cause the markets to be badly affected. The most important reason is that states do not allow this. They do not want a power that they cannot control to have that much power.
March 28, 2021, 12:20:02 PM
I mean a decentralized bank because of the nature of bitcoin. If bitcoin makes that centralisation there will be a lot of inflation in bitcoin, controlled by the elites, in contrast to bitcoin where everyone can have it - it can store itself without having to bang. There is nothing to be trusted in cryptocurrency except code.
March 28, 2021, 12:17:08 PM
In coming 10 years, bitcoin may reach new heights. We also need to be aware of the fact that this Bull Run will not continue forever it will come down one day.
No doubt about bitcoin's bullish rally and bullish rally won't be happened until there is a bear market. So, enjoy bull market without being into fomo and buy on every dip or get ready for bear market to fill portfolio with bitcoin. It's now becoming one kind of cycle of bull and bear to teach us what to do and what not to do in every conditions. Within next 10 years, bitcoin might get closer to millions if we get more than 3-4 bull runs, IMHO. March 28, 2021, 12:11:43 PM
10 years ago people were discussing..
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
Quote
Anything lower than 10, I buy buy buy...
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
I don't think there was a connection with the market price in becoming a central bank itself in the case of bitcoin, I don't really think it is possible at all. Maybe if the government can control bitcoin.
Bitcoin will not become the central bank because bitcoin is decentralized and central banks are centralized, maybe what it means is becoming your own bank where you have the control on your own.
But most of the people actually are just stick with banks because they just don't want the responsibility, like if you lose your private key you lose your bitcoin as well, in a bank you could just request another password if that happened.
March 28, 2021, 11:44:44 AM
Still don't make sense because there must be an actual gold somewhere to match with the ones on the little cold storage otherwise it will remain digital and can not be useful in the real world except online, so in essence, having having those tonnes of gold bars is still very important.
Let's be serious.. at this point, any internet connection disruption would cause HUGE trouble for the entire planet. Almost everything depends nowadays on an internet connection.Banks want to go digital anyway. I don't think a plan to move their reserves into BTC rather than gold would be a far stretch. In fact, it'd be easier for them to store & move money this way.
March 28, 2021, 11:30:24 AM
Why should central banks buy something that is shit? The crypto cartel with people including Elon Musk and Michael Saylor investing billions causing a world wide news coverage to make BTC a "ruler" like asset for the 1%.
Central banks are not some dumb social media users or house wifes who fall for that.
Central banks are not some dumb social media users or house wifes who fall for that.
March 28, 2021, 11:29:29 AM
10 years ago people were discussing..
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
The price has grown unbelievably, that's true. But why the central bank of central banks phrase, what does it mean? I'm not sure how I feel about such a comparison because Bitcoin is nothing like a central bank. It's decentralized, the supply is limited, there's no single entity in control of the distribution of money, the price is not regulated by anyone. I just don't understand how a type of money can be compared to an institution. And if you mean that Bitcoin will beat the central banks, I also have to disagree with you because while Bitcoin is very impressive and massive in its own way, the reliance of people on fiat and banks is IMO too strong for Bitcoin to be able to replace them. Quote
Anything lower than 10, I buy buy buy...
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
March 28, 2021, 11:21:22 AM
A lot of things have changed in the world in these 10 years. So why not Bitcoin price? The world moving to digitalization day by day and people realizing the value of digital assets like Bitcoin. Since Bitcoin is backed by the community and is a decentralized asset, I don't think central banks will consider it as a reserve asset. Due to high volatility, it would quite complicated for central banks. Perhaps they would use blockchain technology instead for their users. But I don't expect they will consider Bitcoin as a currency. Anyway, I hope bank would make easier to buy sell and hold bitcoin for citizens by allowing their users to buy and sell through banks. This way they would raise their revenue and the government would get tax as well.
March 28, 2021, 11:13:09 AM
More like bitcoin has the potential to be the reserve asset of central banks, replacing gold. A central bank is a central entity, while Bitcoin is a decentralized asset/protocol.
Oh yeah, imagine banks suddenly switching from having to store tonnes of gold in extremely safe deposit boxes to having everything on a little cold storage device that could be not only moved in an instant but also replicated from bank to bank, recovering any of the funds in case of any kind of emergency.No more trucks and planes filled up with tonnes of gold. All within a single click. It's all a matter of time before it happens.
You can only store a digital gold in a little cold storage device and not physical gold, between I don't think digital gold can be compared to having a physical gold at all,
Still don't make sense because there must be an actual gold somewhere to match with the ones on the little cold storage otherwise it will remain digital and can not be useful in the real world except online, so in essence, having having those tonnes of gold bars is still very important.
March 28, 2021, 11:00:41 AM
More like bitcoin has the potential to be the reserve asset of central banks, replacing gold. A central bank is a central entity, while Bitcoin is a decentralized asset/protocol.
Oh yeah, imagine banks suddenly switching from having to store tonnes of gold in extremely safe deposit boxes to having everything on a little cold storage device that could be not only moved in an instant but also replicated from bank to bank, recovering any of the funds in case of any kind of emergency.No more trucks and planes filled up with tonnes of gold. All within a single click. It's all a matter of time before it happens.
March 28, 2021, 10:10:19 AM
does not rule out if in the next 10 years all institutional institutions will agree on bitcoin as the only agency that will be responsible for an economic monetary policy in a certain country. however, to achieve all of this, we have to go through several stages and obstacles, while the central bank is currently not fully supportive. because fiat money remains the sole symbol in carrying out a legal payment transaction system, and also as a symbol of state.
March 28, 2021, 09:56:46 AM
Re: Bitcoin has the potential to become the central bank of the central banks
More like bitcoin has the potential to be the reserve asset of central banks, replacing gold. A central bank is a central entity, while Bitcoin is a decentralized asset/protocol.
Check out how much gold they're holding, and how bitcoin could potentially be once they decide to hold some: https://www.gold.org/goldhub/data/monthly-central-bank-statistics
March 28, 2021, 08:49:40 AM
Ark Invest CEO: “$1 trillion is nothing” compared to where Bitcoin is going
“If we add all of the potential demand relative to the limited supply, we come up with incredible numbers over the long term. We have just begun. One trillion dollars is nothing compared to where this ultimately will be.”
https://cryptoslate.com/ark-invest-ceo-1-trillion-is-nothing-compared-to-where-bitcoin-is-going/amp/
Once we reach this level, the volatility will disappear.
“If we add all of the potential demand relative to the limited supply, we come up with incredible numbers over the long term. We have just begun. One trillion dollars is nothing compared to where this ultimately will be.”
https://cryptoslate.com/ark-invest-ceo-1-trillion-is-nothing-compared-to-where-bitcoin-is-going/amp/
We shouldn't forget that Bitcoin is a VOLATILE cryptocurrency. It is not a stable coin or something like that.
Once we reach this level, the volatility will disappear.
March 19, 2021, 06:58:27 AM
10 years ago people were discussing..
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
Quote
Anything lower than 10, I buy buy buy...
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
Yes, things have changed at a high rate for Bitcoin price and its adoption process. But it is a very big claim that 'Bitcoin can be the central bank of all other central banks'. We shouldn't forget that Bitcoin is a VOLATILE cryptocurrency. It is not a stable coin or something like that.
March 19, 2021, 05:35:14 AM
10 years ago people were discussing..
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
Quote
Anything lower than 10, I buy buy buy...
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
Beyond any doubt Bitcoin has made a massive progress in last ten years and still making progress. In coming 10 years, bitcoin may reach new heights. We also need to be aware of the fact that this Bull Run will not continue forever it will come down one day.
March 18, 2021, 01:30:38 PM
I don't think it's simply a question of price. The value that central banks destroy is acquired by Bitcoin. More and more.
Neither I think it will happen as Max Kaiser said that "one of the major Central Banks will close in 2021-2022, utterly and completely". But what I think is they are going to realize that they can't fight Bitcoin so they have to buy it.
Neither I think it will happen as Max Kaiser said that "one of the major Central Banks will close in 2021-2022, utterly and completely". But what I think is they are going to realize that they can't fight Bitcoin so they have to buy it.
March 18, 2021, 12:49:34 PM
I do not think we are yet ready to let go of the volatility.
Even though it is deserving such role but at the same time Volatility is what makes people more interested in the bitcoins and at the same time it does not only gives us fair chances to buy / hold / win big but it also gives the currency a non traditional touch enabling people to work with it differently with different ideas. I do not know how a bank would function with the volatility and how would it even control everything when the apparent price would be down. Everyone would go bankrupt in a day or might be millionaires the next , does not seem fit for a bank.
Right now I think we should not put down a competition between Bitcoins and banks , they both are very much needed and they both are really important to the society. They both are not only coexisting but at the same time doing a wonderful job till Government comes in between.
Even though it is deserving such role but at the same time Volatility is what makes people more interested in the bitcoins and at the same time it does not only gives us fair chances to buy / hold / win big but it also gives the currency a non traditional touch enabling people to work with it differently with different ideas. I do not know how a bank would function with the volatility and how would it even control everything when the apparent price would be down. Everyone would go bankrupt in a day or might be millionaires the next , does not seem fit for a bank.
Right now I think we should not put down a competition between Bitcoins and banks , they both are very much needed and they both are really important to the society. They both are not only coexisting but at the same time doing a wonderful job till Government comes in between.
March 18, 2021, 09:59:06 AM
10 years ago people were discussing..
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
Quote
Anything lower than 10, I buy buy buy...
https://bitcointalksearch.org/topic/m.56581970
Now we're discussing 40000, 50000, 60000.
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