Bitcoin to trigger central bank collapse - page 3.

yananda

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Quote from: StanleyBoyle on August 23, 2021, 11:23:15 PM

The first thing to look at should be what is the practical significance of Bitcoin itself to the world's finances?
Is it to replace the central bank? Or to change the current financial system. I don't think the central bank will collapse. If the central bank collapses, it means that the world's government organizations will be completely subverted. Then whether it is capitalism or socialism, the societies of various countries The system will change.This will be a war to break a huge social system that has been going on for a hundred years. I don't think it is necessary.Impossible.

it is clear that regulation has been hindering the development of cryptocurrencies
they are looking for a way to be less visible, clever and cunning way

livingfree

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Quote from: imstillthebest on August 23, 2021, 09:28:40 PM

Quote from: livingfree on August 23, 2021, 05:44:30 PM

Quote from: mckinleeanael07 on August 23, 2021, 12:07:58 PM

this is really hard to say bitcoin is triggering the collapse of the central bank because at the moment central banks are still the real payment place for many people and they hate BTC they think BTC is a virtual currency and is not stable.

Not all central banks hate bitcoin.

You can acknowledge those countries that have been open to bitcoin and their central banks are supporting it. They're looking at the chances and possibility that it may bring good outcome to their citizens and as well as economy.

i think he didnt mean banks but he mean the people hate btc .
there are people that btc and there also people that dont know yet if what is btc ,
that is why they just stick on the traditional payment system but your also correct here that there banks that are willing to collab with btc and maybe the banks can be the one that will introduce btc to those btc haters and to the people that have no idea what btc is .

Yes, he didn't.

But what implying to say is that not all the central banks hate bitcoin. It is what I'm trying to say not implying that all of them or some of them hates it.

Well, obviously he said it's all about the central banks not the people working for it as it is in general.

StanleyBoyle

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What you worry about will control you

The first thing to look at should be what is the practical significance of Bitcoin itself to the world's finances?
Is it to replace the central bank? Or to change the current financial system. I don't think the central bank will collapse. If the central bank collapses, it means that the world's government organizations will be completely subverted. Then whether it is capitalism or socialism, the societies of various countries The system will change.This will be a war to break a huge social system that has been going on for a hundred years. I don't think it is necessary.Impossible.

imstillthebest

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Quote from: livingfree on August 23, 2021, 05:44:30 PM

Quote from: mckinleeanael07 on August 23, 2021, 12:07:58 PM

this is really hard to say bitcoin is triggering the collapse of the central bank because at the moment central banks are still the real payment place for many people and they hate BTC they think BTC is a virtual currency and is not stable.

Not all central banks hate bitcoin.

You can acknowledge those countries that have been open to bitcoin and their central banks are supporting it. They're looking at the chances and possibility that it may bring good outcome to their citizens and as well as economy.

i think he didnt mean banks but he mean the people hate btc .
there are people that btc and there also people that dont know yet if what is btc ,
that is why they just stick on the traditional payment system but your also correct here that there banks that are willing to collab with btc and maybe the banks can be the one that will introduce btc to those btc haters and to the people that have no idea what btc is .

livingfree

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Quote from: mckinleeanael07 on August 23, 2021, 12:07:58 PM

this is really hard to say bitcoin is triggering the collapse of the central bank because at the moment central banks are still the real payment place for many people and they hate BTC they think BTC is a virtual currency and is not stable.

Not all central banks hate bitcoin.

You can acknowledge those countries that have been open to bitcoin and their central banks are supporting it. They're looking at the chances and possibility that it may bring good outcome to their citizens and as well as economy.

Abiky

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Quote from: TheGreatPython on August 18, 2021, 05:04:21 AM

You’re very accurate. People keep saying this without knowing the meaning what they are saying. Some of them really do think it would be a good thing if the central bank should collapse. For the central bank of a state to collapse means that the state has fallen, and it’s very bad. In countries where the central bank is at the brink of collapse, people goes through a lot and the rate of crimes increases in such places.

And nobody likes living in a country where there is crisis and all that bad stuff. So, this is never something to wish for. It is not bad to have both Bitcoin/cryptocurrency and fiat. They are all good and they have a different role to play.

Bitcoin is and will always be an alternative to the current financial system. Governments don't want to lose control over people's lives, so they'll continue to support banks no matter what. Despite Bitcoin's success, Fiat is still the most dominant form of money worldwide. The vast number of merchants and businesses alike accept Fiat on top of crypto simply because it's stable, reliable, and backed by a trusted authority.

One thing for sure is that Bitcoin is good as a store of value, but terrible as a currency for day-to-day payments. Besides, banks already announced the launch of CBDCs. This will enable them to gain all of the benefits of crypto, without the issues of volatility and limited transaction capacity. Considering that banks are still relevant even with crypto/Blockchain tech in play, it seems to me that Fiat and crypto will co-exist for many generations. Just my thoughts Grin

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this is really hard to say bitcoin is triggering the collapse of the central bank because at the moment central banks are still the real payment place for many people and they hate BTC they think BTC is a virtual currency and is not stable.

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Quote from: TheGreatPython on August 18, 2021, 05:04:21 AM

Quote from: AndySt on August 16, 2021, 07:59:40 PM

This is just said for a beautiful word, because the collapse of the central bank is the collapse of the state itself and it can lead to nothing good, especially for the ordinary population.

You’re very accurate. People keep saying this without knowing the meaning what they are saying. Some of them really do think it would be a good thing if the central bank should collapse. For the central bank of a state to collapse means that the state has fallen, and it’s very bad. In countries where the central bank is at the brink of collapse, people goes through a lot and the rate of crimes increases in such places.

And nobody likes living in a country where there is crisis and all that bad stuff. So, this is never something to wish for. It is not bad to have both Bitcoin/cryptocurrency and fiat. They are all good and they have a different role to play.

Those people who say that are mostly newbies so they believe that this one will happen since for them they really think spread of bitcoin could make certain currency fall, while in reality there's a law and if there's a law the government is there so make this as strong barricade on why we cannot see central bank collapsed. If they see bitcoin then provably this might happen so maybe lets just think about bitcoin as a good alternative since if people push this maybe we see massive banning the usage of it on certain countries.

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Quote from: AndySt on August 16, 2021, 07:59:40 PM

This is just said for a beautiful word, because the collapse of the central bank is the collapse of the state itself and it can lead to nothing good, especially for the ordinary population.

You’re very accurate. People keep saying this without knowing the meaning what they are saying. Some of them really do think it would be a good thing if the central bank should collapse. For the central bank of a state to collapse means that the state has fallen, and it’s very bad. In countries where the central bank is at the brink of collapse, people goes through a lot and the rate of crimes increases in such places.

And nobody likes living in a country where there is crisis and all that bad stuff. So, this is never something to wish for. It is not bad to have both Bitcoin/cryptocurrency and fiat. They are all good and they have a different role to play.

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Quote from: ampu on August 13, 2021, 12:11:50 PM

The central banking system has existed for many years and it has great economic and political significance, so its collapse will have a huge impact on the whole world. Bitcoin is only a payment solution, so we should not exaggerate.
The central banking system would still function well without Bitcoin. Loans, mortgages, savings accounts to receive interest will continue to take place according to the Government's regulations. Bitcoin could infiltrate the banking system as part of the solution. That would probably be better than competing directly with the banking system.

Exactly. Banks dominated the mainstream economy for a long time. Even with crypto/Blockchain tech in play, Fiat is still "king" when it comes to paying for goods and services anytime, anywhere in the world. The vast majority of merchants and businesses accept Fiat on top of crypto because of its stability, trust, and backing by the government. One thing for sure is that central banks have the power to manipulate the economy to their own convenience. They can inflate Fiat currencies, increase or decrease interest rates, and more. These financial institutions will never collapse as long as governments are backing them. Only a full shift from Fiat to crypto will make banks disappear for good. But that's very unlikely to happen anytime soon. Time will tell us the fate of both crypto and Fiat as technologies evolve in the mainstream world. Just my opinion

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Quote from: dezoel on August 16, 2021, 03:05:12 PM

There is no way central banks to "collapse" without themselves doing it first, they are already sort of doing it, central bank never really collapses period, because their job is to print money and they could be like Zimbabwe where they are printing more and more money, they can keep printing it and the economy could suck big time but just because everything sucks doesn't mean that they will be collapsing, they will just do a horrible job but they will continue to do their job, even badly but still do it.
There was a video of an African dictator (movie scene based on real life) who kept printing more money, even while their money begin worth less than a toilet paper in value, so what did he do? Asked central bank to print even more, that is just how it is in the world of central banks and crypto will not change it, most of them will be doing a horrible job like Venezuela or Zimbabwe eventually, they are a joke now but everyone will be like that in 50 years.

This is just said for a beautiful word, because the collapse of the central bank is the collapse of the state itself and it can lead to nothing good, especially for the ordinary population. The state exercises its power, including through monetary policy, the activities of which are regulated through the central bank. The central bank can print as much money as it wants, but it will never do it on its own initiative, and if the amount of money exceeds all reasonable limits, it means that very bad events have occurred in the state or there is simply a problem of the state administration itself and its competence. Bitcoin is a great idea, but by itself it is not capable of both fixing state problems and arranging problems in the presence of normal state power.

TimeTeller

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Quote from: mirakal on August 16, 2021, 05:26:08 PM

Quote from: ?? on ??

this is really hard to say bitcoin is triggering the collapse of the central bank because at the moment central banks are still the real payment place for many people and they hate BTC they think BTC is a virtual currency and is not stable.

They did not hate BTC, they just have no idea what is Bitcoin.

But on the question, I think there's no reason to think that Bitcoin will make the central bank collapse because the Central bank is government, so it's tantamount to saying that the government will collapse, IMO, it's not gonna happen and it's very unrealistic to think about that.

Getting hype is okay and bitcoin really has a good potential of increase in adoption in the future, but not to the same level as the number of fiat users now.

I don't think we will see in our lifetime that bitcoin will indeed trigger the collapse of central banks.
I understand a lot of people are very happy with this new invention in digital currency.
But it is too early to think that it will significantly impact the traditional way of banking system.
Let us be grateful that some banks are already accepting crypto but replacing the local fiat, I don't think that's gonna happen in the coming years.

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Quote from: ?? on ??

this is really hard to say bitcoin is triggering the collapse of the central bank because at the moment central banks are still the real payment place for many people and they hate BTC they think BTC is a virtual currency and is not stable.

They did not hate BTC, they just have no idea what is Bitcoin.

But on the question, I think there's no reason to think that Bitcoin will make the central bank collapse because the Central bank is government, so it's tantamount to saying that the government will collapse, IMO, it's not gonna happen and it's very unrealistic to think about that.

Getting hype is okay and bitcoin really has a good potential of increase in adoption in the future, but not to the same level as the number of fiat users now.

dezoel

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There is no way central banks to "collapse" without themselves doing it first, they are already sort of doing it, central bank never really collapses period, because their job is to print money and they could be like Zimbabwe where they are printing more and more money, they can keep printing it and the economy could suck big time but just because everything sucks doesn't mean that they will be collapsing, they will just do a horrible job but they will continue to do their job, even badly but still do it.

There was a video of an African dictator (movie scene based on real life) who kept printing more money, even while their money begin worth less than a toilet paper in value, so what did he do? Asked central bank to print even more, that is just how it is in the world of central banks and crypto will not change it, most of them will be doing a horrible job like Venezuela or Zimbabwe eventually, they are a joke now but everyone will be like that in 50 years.

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Quote from: Alfreed on August 14, 2021, 07:46:52 PM

such a scenario cannot be ruled out, China is very actively trying to stop the cryptocurrency rush for a reason, they have one of the strongest economies in the world and they see a threat to it. this anonymous payment method clearly causes irreparable damage to many economies, I believe that in the near future we will feel it

But aren't they out of the game already? They've already banned mining in their country and it's only a matter of time for a total prohibition of cryptocurrency in their country as the release of their very own digital yuan is nearing it's due date. I don't think that it can cause a damage, the tax bureau can see irregularities in someone's assets when there's some spikes that didn't get taxed so it's not going to damage the economy plus the money goes back to the economy because it's spent by the owners, no point hoarding fiat right? Bitcoin can't trigger financial collapse, I don't how it can and given the current market cap of bitcoin, I don't think there's enough to do some damage.

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Quote from: Tomoko Kawagushi on December 19, 2020, 09:58:40 PM

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.

What are you talking about, how do you know Bitcoin can bring down the central bank, you talk don't analyze using your mind and brain, you know Bitcoin is almost 14 years in the future, if the central bank collapsed, it might have happened two or three years ago, why is it still there today, even the profits of the central bank since the presence of bitcoin have doubled from year to year.

You are just making up news that is hoax, you yourself don't know the working process of the central bank, don't always rely on media news, 70% are hoaxes, 30% may be true, Media reporters, if the pay is the highest, that's what they load, you know what I mean.

What you need to know is: Central banks since the presence of Bitcoin they are progressing and big profits, that's what actually happened, fact.

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Quote from: (o)(o)ilikeboobs(o)(o) on April 12, 2021, 11:32:10 AM

Businesses need to have a country to register a company, they are required to pay taxes in that country's currency. It is not a big deal for businesses and citizens to accept Bitcoin and use it because central banks will have regulations for Bitcoin and cryptocurrencies. Banks are on the side of the government, so they will find a way to put Bitcoin on their side. Take a look at Goldman Sachs, Paypal, Visa, they are integrating cryptocurrency and making it a tool that benefits their business.

This means that if bitcoin is under the leadership of the government, bitcoin has lost its freedom. We can no longer freely determine how much profit it will make. Everything is under the control of the government.

Wong Gendheng

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Quote from: Alfreed on August 14, 2021, 07:46:52 PM

such a scenario cannot be ruled out, China is very actively trying to stop the cryptocurrency rush for a reason, they have one of the strongest economies in the world and they see a threat to it. this anonymous payment method clearly causes irreparable damage to many economies, I believe that in the near future we will feel it

I think this is too much, I believe that crypto will be able to stop it, many countries are afraid of crypto which continues to skyrocket and become the best choice of many people and companies, this is certainly very dangerous for banks and centralized financial systems so that many countries are banned from crypto .

Alfreed

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such a scenario cannot be ruled out, China is very actively trying to stop the cryptocurrency rush for a reason, they have one of the strongest economies in the world and they see a threat to it. this anonymous payment method clearly causes irreparable damage to many economies, I believe that in the near future we will feel it

nakamura12

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Bitcoin can't trigger central bank but it can be adopted by the government to earn profit in bitcoin. As you can read in some reply here bitcoin is being adapted in some platforms like paypal and many more so I don't think bitcoin can trigger collapse since fiat is useful for those who can't use technology like phones and others.

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