Topic: Bitcoin to trigger central bank collapse - page 10. (Read 1751 times)

why should it be replaced? I don't think there is a need to replace fiat money with crypto. and it is not only difficult, but will not be realized. here we cannot forget people who are still alive without needing bitcoin. we will always be side by side. So in my opinion, bitcoin is not a good idea to replace fiat money. let bitcoin be an asset to invest in, and fiat money remains a means of transaction in general.

Never, centralized financial institutions will not hand over the management of financial flows into the hands of technologies such as blockchain! Never - because this is contrary to their survival! They will create the appearance of "freedom", but centralized control will remain - through regulators, financial monitoring, rules for exchanges, etc. Just look at the scale of the crypto market - it's DUST against the backdrop of the daily turnover in the financial / fiat market! Banks and the financial sector can use TECHNOLOGICAL solutions based on the blockchain, but the financial system itself will never become decentralized, in accordance with the blockchain ideology. The state and power is the control of financial flows, therefore, as long as the state exists, the financial system will be controlled and dependent.

It seems to me that it is not profitable for banks to move to blockchain, because it is an open registry, and anyone can see the movement of funds... And everyone knows that banks often use their clients' funds in various frauds, such as issuing loans or mortgages, paying dividends, etc...

At least If we talk about the vitality and future prospects of the banking system, then first of all it is necessary to say that banks are, first of all, an organization or structure that provides specific services. Based on this, the banking system will be able to adapt to new realities. And if the cryptocurrency will have mass adoption all over the world, then the banks will provide all kinds of services not with the dollar, but with the cryptocurrency. Although the dollar Apparently is not going anywhere either.

first based on the text or this article you use our sentences for your country. certainly the possibility that a collapse that damages central banks is not for all the world's banks. but precisely, it is a problem that resides in the country you live in. because in fact every country that is centered on a central bank has not yet fully stated that bitcoin is destroying the fiat currency system. indeed at first glance the demand for money printing will be very large when everyone is spending it on bitcoin. In this case you are very thorough in making articles where you describe the problems that are not felt by every country. are you building propaganda?

I think anyone who believes such an article to be somewhat delusional or naive. Bitcoin is an asset, it has valuable and it is apparently useful as a form of currency - as we can see from the popularity of it's recent rise. However at a fixed amount of 21 million units, with however many satoshi's and to however many decimal places. Bitcoin can barely cope with the capacity demands of speculators and a small fraction of all the people who would need access if it became the sole global currency unit. Bitcoin has its place, and that place is a small portion of a diversified portfolio and it certainly has its limits. It would never be able replace something like the US dollar in its current form.

Until now, even though there are many very good developments from Crypto, there are still many countries that still do not accept Crypto. And this is of course a reason why crypto is still not able to replace fiats. And I think it will be very difficult and even seemingly impossible for crypto to replace fiats.

You should consider if government will allow that bitcoin will take over the fiats in every parts of the world and came to the point that the central bank collapsed? I think no since for sure they will not allow the uncontrollable things to penetrate in their economical system. Remember bitcoin got unpredictable volatility and it has high chances to get manipulated thats why for sure for this reasons many will doubt about holding it for long time period.

When you successfully convince 50% of all your friends in your social network profile, that might increase the odds by 1%, yup, you would still need another 99% to overturn the central bank. That’s how difficult, no need a wall of text of why and why.

Central banks will rather adopt blockchain and evolve. Bitcoin solely is not enough to solve global problems

It's hard to say that Bitcoin triggered the central bank collapse. In 2008 the financial crisis happened not because of Bitcoin. I mean all the things are going on right now just demonstrate that the debt based economy isn't the best economic system.

TL;DR. Anyway, this is next to impossible. The only reason that may cause central banks to collapse is when governments themselves collapse. Otherwise, central banks will always be there. For as long as money is designed, issued, and controlled by governments, central banks will stay relevant. For as long as monetary policies are crafted and subsequently implemented by governments, central banks will exist. There may be changes in the design of central banks but they remain essentially the same.

Now, Bitcoin is not created to bring down governments. If at all, it prefers that money is out of their control.

This short crypto-economic piece explores the probability and impacts of Bitcoin triggering a collapse of our central banking systems and a reordering of the world's wealth structure.

Pre-Bitcoin, individuals were all trapped in a system where the Federal Reserve and other central banks around the world could create money at will and force people to purchase assets and consumer items so they would avoid inflation.  When fiat is saved, the velocity of money slows and economic activity grinds lower - for this reason the planners wished to encourage spending, and not saving, through quantitative easing.

Now we are seeing the wealthy, investment banks and treasury departments of companies OPTING OUT of this monetary riddle by taking their money "out of the matrix" and hiding it in Bitcoin to send their value into the future.  They do this because the value of assets today is too high, yet their cash and bonds are being eaten by fiat printing so they have to invest in something, anything.  Before they had no rational spending options and had to buy ever more overvalued real estate, stocks, and other financial instruments, but now they have a much better option: buying Bitcoin. 

The difference now is printing fiat does not encourage people to spend their money, the reverse is actually true when that lever is pulled, it encourages purchasing and HOARDING of Bitcoin in much the same way people hoarded cash during the great depression.  The more central banks print fiat, the more popular Bitcoin becomes as the smart money escapes the legacy monetary system, but it also works the other way around: the more Bitcoin that is bought, the more central banks are forced to print due to fiat leaving the system for Bitcoin, and a negative feedback loop ensues. 

To throw gas on the fire, this disappearing act of fiat into Bitcoin is starting to accelerate since the 2020 halvening event in May.  Not a day goes by when we don't hear of multiple billions being sunk into Bitcoin by a new financial institution, and much fewer Bitcoin are being sold than bought.  The Federal Reserve is seeing weakness in the economy and Congress announced they are printing another 1 trillion dollars to hand out to Americans; on the same day Bitcoin skyrocketed to all time highs.  At a certain point, the exponential flow into Bitcoin will begin to affect the fiat money supply by reducing it significantly.  This will cause deflation and the central bank will print orders of magnitude more fiat, which encourages ever more panicked Bitcoin purchases to preserve wealth, and the cycle continues.

This "Bitcoin Option" represents the leaks in the system our monetary planners didn't anticipate.  They either still do not see them or feel that they are impossible to stop due to the completely decentralized nature of Bitcoin.  There is no CEO to drag before congress, no central server to shut down.  These leaks may ultimately end up disrupting the entire banking system through hyperinflation with Bitcoin as an accelerant, and without a shot being fired.

I see a very uncomfortable future for those who don't own Bitcoin.  The transition to the new system is going to impoverish many of the middle class that weren't impoverished before.  The price of a whole coin is accelerating away from the financial reach of the middle class now and will continue to do so ($24,000 USD per coin as of today).  As Bitcoin appreciates higher and higher, the US dollar and other currencies continue to debase themselves trying to catch up in overall value, the planners fill the gas tank faster as it continues to pour out onto the road. 

In the end, a complete reordering of the entire global economic system will need to occur as the world economy stalls in its depreciating orbit and is caught in the gravity well that is Bitcoin, the new world reserve currency.  Millions of people will lose their fixed income, cash and bonds to hyper-inflation while Bitcoiners become the new global wealthy, leisurely floating over the tidal wave of devalued dollars, in an ocean of paper money.  The Federal government disappears like the Soviet Union as their financial instruments fail completely and there is a physical struggle for control as the power structure decentralizes.  Crypto exchanges become our new economic pillars that control transfer into and out of the financial matrix as people desperately attempt to secure a handful of Satoshis, as the price of a full Bitcoin moves completely out of sight. 

The haves and the have nots are reordered, into the early adopters and the late comers, those with Bitcoin and those without.