Topic: Can Bitcoins kill Central Banks? - page 10. (Read 1736 times)
I don't think bitcoin shots can kill central banks currently use countries with dominant structures to manage their economies. They have the exclusive power and will not give up that power without a fight bitcoin and other digital currencies have generated significant interest but their acceptance rates are declining and government support for them is virtually nonexistent. Unless and until the government recognizes bitcoin as a legal tender soon it has little hope of killing central banks note that central banks around the world are watching and studying bitcoin based on this it is more likely that central banks will one day issue their own digital currency.
I don't think so, not all people can adapt the digitalization and not all people are willing to risk their money knowing bitcoin market is too volatile. Cashless transaction is possible but not tru bitcoin being the primary currency and removing fiat by circulation so bitcoin cant kill banks.
First of all, Bitcoin isn't created to kill these Central Banks. Bitcoin is created to have a peer to peer transaction. It is created to remove these third party establishments like banks but it doesn't mean that it will kill it.
One thing more is that, not all people have access to Bitcoin and there are some Bitcoin investors who are preferring banks when it comes to transferring money than using cryptos like Bitcoin. I don't think of any way that Bitcoin will kill these banks. I don't use Banks that often and I see them as a storage of funds for my future only but not for transaction purposes. Banks also plays a big role in the economy so it isn't that easy to eradicate these banks even though there are some problems with them with regards to charges, interest etc.
One thing more is that, not all people have access to Bitcoin and there are some Bitcoin investors who are preferring banks when it comes to transferring money than using cryptos like Bitcoin. I don't think of any way that Bitcoin will kill these banks. I don't use Banks that often and I see them as a storage of funds for my future only but not for transaction purposes. Banks also plays a big role in the economy so it isn't that easy to eradicate these banks even though there are some problems with them with regards to charges, interest etc.
i dont know why people are thinking that bitcoin will kill the existence of central banks? do they have solid basis on why they think about this scenario? i do agree, bitcoin will just be an alternative option to people, the adoption may grow thru the years but as a replacement to fiat? i dont think so.
people should be realistic with the situation. not because you are now a crypto user, you think, btc will kill the usage of fiat??? wake up people!
It's just that some people do not fully understand what normal and stable public administration is, what central banks are really needed for, and that's why they express such ideas people should be realistic with the situation. not because you are now a crypto user, you think, btc will kill the usage of fiat??? wake up people!
Some ideal world without state structures, which when necessary are engaged in the suppression of excessive freedom of citizens, of course, can take place on our planet, but in the end leads to bad results for the citizens themselves in the face of chaos and lawlessness. Therefore, central banks in any form will always have a place to control the financial system of the state and this is a sufficiently effective system for such management, tested by time and circumstances. 
It is not going to happen. It's never going to happen (unless a huge revolution takes place after few decades and freedom is actually a thing). Think about it. A decentralized coin taking over the central bank. A coin that government has no control over. Can you imagine that? Nope, you can't. Because the government like to keep power and control its citizen. And with the help of central banks they are even able to indirectly control bitcoin. This has both bad and good bad sides. So no, bitcoin won't kill central banks, but maybe a centralized coin controlled by the government by change how a central bank works.
Even up into my dreams, this thing wont never happen because government aren't really that dumb for letting things that will totally be opposing their existence.If they had able to control up bitcoin from the start then they had already done it a long time ago but it turns out that they wont able to do so but doesn't
mean that bitcoin could totally kill central banks but rather be staying up as an alternative and wouldn't become the mainstream.
Im not against with adoption or into its potential but we should really be practical and realistic on here.
i dont know why people are thinking that bitcoin will kill the existence of central banks? do they have solid basis on why they think about this scenario? i do agree, bitcoin will just be an alternative option to people, the adoption may grow thru the years but as a replacement to fiat? i dont think so.
people should be realistic with the situation. not because you are now a crypto user, you think, btc will kill the usage of fiat??? wake up people!
Biden is now currently killing bitcoin, there are humors that the taxation will bombard us traders. Up to 20% in our commission returns. Years ago bitcoin killed the banks and still slaughtering more bigger institutions.
It is not going to happen. It's never going to happen (unless a huge revolution takes place after few decades and freedom is actually a thing). Think about it. A decentralized coin taking over the central bank. A coin that government has no control over. Can you imagine that? Nope, you can't. Because the government like to keep power and control its citizen. And with the help of central banks they are even able to indirectly control bitcoin. This has both bad and good bad sides. So no, bitcoin won't kill central banks, but maybe a centralized coin controlled by the government by change how a central bank works.
Even up into my dreams, this thing wont never happen because government aren't really that dumb for letting things that will totally be opposing their existence.If they had able to control up bitcoin from the start then they had already done it a long time ago but it turns out that they wont able to do so but doesn't
mean that bitcoin could totally kill central banks but rather be staying up as an alternative and wouldn't become the mainstream.
Im not against with adoption or into its potential but we should really be practical and realistic on here.
It is not going to happen. It's never going to happen (unless a huge revolution takes place after few decades and freedom is actually a thing). Think about it. A decentralized coin taking over the central bank. A coin that government has no control over. Can you imagine that? Nope, you can't. Because the government like to keep power and control its citizen. And with the help of central banks they are even able to indirectly control bitcoin. This has both bad and good bad sides. So no, bitcoin won't kill central banks, but maybe a centralized coin controlled by the government by change how a central bank works.
Maybe it is better if bitcoin stay like this, for investment purpose or maybe what people use beside to replace fiat. Because Central Banks itself is really big power and can control anything, me who amateur maybe only think don't let they make bitcoin banned and we just not disrupt them if not any problem happened to bitcoin itself.
Why though? Why would bitcoin kill central banks? What would benefit bitcoin, and what would the society benefit from no more central banks? Do you really know what they are suppose to do and what they are there for?
Central banks are the places that take a look at a nations economy and make decisions based on that, and if you remove it all together it becomes the wild west and outlaws and there won't be anything that decides on what's going to happen, I am not saying that would be bad compared to now because I do not know, maybe a liberal economy without a central bank is the solution to all the economical problems we have but I can guarantee you the first few decades will be horrible because liberal economies allow rich to do whatever they want so instead of the Central bank it would be people like Elon or Jeff that decides the economy, I rather not deal with that.
Central banks are the places that take a look at a nations economy and make decisions based on that, and if you remove it all together it becomes the wild west and outlaws and there won't be anything that decides on what's going to happen, I am not saying that would be bad compared to now because I do not know, maybe a liberal economy without a central bank is the solution to all the economical problems we have but I can guarantee you the first few decades will be horrible because liberal economies allow rich to do whatever they want so instead of the Central bank it would be people like Elon or Jeff that decides the economy, I rather not deal with that.
That would be nigh impossible. Bitcoin does not and will not fulfill the roles of central banks. They are still vital for controlling the economy and stimulating it whether we like it or not. Also, why would the governments let that happen anyway? It would be hard for them to control the economy, the inflows and outflows of money, and everything in between if central banks aren't existing.
Honestly, I didn't have time to read the entire content of your topic, but I only aim for your question in the topic title.
For your answer, 99% of the answers are below.
Can Bitcoin Kill Central Banks?
For your answer, 99% of the answers are below.
Can Bitcoin Kill Central Banks?
Though bitcoin have so much popularity among people around the world and a huge number of people invest their money in Bitcoin but Bitcoin can never kill Central Banks. This is not possible. Because everyone believe banks because bank is centralized and Provide fiat. On the other hand bitcoin is a virtual coin. Not all the people in the world depends upon bitcoin. But most of the people like 80/90% people depends upon banks because they keep their money from banks. Bank give people loan. On the other hand bitcoin have no facility like loan. So bitcoin can't kill banks.
No, this is inevitably not the purpose of Bitcoin. And not all countries have announced Bitcoin legal. I have explained before that banks regulate all the financial activities of a country. In that trial, the government will not expect Bitcoin to be turned off. And banks are bound to a government in many paths, but since Bitcoin is virtual, it doesn't appear to be stricken. But Bitcoin will not be eligible to kill the bank.
We may be in the digital era but it's hard to be seen that bitcoin will kill the central banks. The government won't allow that to happen. The central banks can give the go signal for establishments to go and adopt bitcoin.
But they'll never allow it to replace the central banks and let it control its role in a country. Central banks have vital roles which they cannot hand over to bitcoin.
But they'll never allow it to replace the central banks and let it control its role in a country. Central banks have vital roles which they cannot hand over to bitcoin.
The answer is simple - no, bitcoin will not kill banks!
Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
I agree, I get that people can dream whatever scenario they may like but we need to be realistic here, the goal of bitcoin has never been to kill banks, the goal of bitcoin is just to offer a currency with a scarce supply that is permissionless, that is it, anything more than that is nothing but a dream.Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
Governments are never going to allow this to happen and banks instead of remaining static and accept defeat will just adapt to the new reality just as they have been doing for hundreds of years, so while a world without banks sounds like a good idea to some it is never going to happen.
No, it won't. Central banks will remain. Bitcoin cannot take over any country's central bank's monetary and financial functions. A central bank's role in a country is more than just issuing money. I'm afraid Bitcoin is not a central bank's replacement. Bitcoin may not even be fiat's complete replacement. At best, it is a major alternative from which central banks may learn a lesson or two as regards monetary development. I think Bitcoin has played a significant role in several countries' plan to shift to CBDC.
Bitcoin will never kill the Central banks there is no capability that bitcoin can delete or kill the central banks, the government won't let this thing happen, they won't allow any decentralized system take over the banks and besides central banks is much important because we still need it to cash out our cryptocurrency, imagine if there is no longer a bank then for sure no one can convert their bitcoin or any altcoin into fiat currency, that would be so hard for everyone's life.
for what reason is Bitcoin killing banks? I think it doesn't need to be enforced, and it can't be as if it is a murderer. let bitcoin grow with all its systems and the bank will be the balance so that the resilience of the value of Bitcoin remains a top priority for bitcoiners. we as bitcoin holders don't have to be aggressive.
Why would government give up a system where they can control and influence the economics on their country? That will be plain stupid. On top of that, the goal of Bitcoin is not to kill anything, but simply provide a way for people to transact digitally without relying on a centralized entity. It won't solve the problem of GDP, microeconomics, etc.
Exactly, why would they go that route knowing that their power will be useless in a decentralized fashion. I also have to add that it will take years to really uproot the established system and bitcoin has a lot of things to fill in. Jump to: