Topic: Can Bitcoins kill Central Banks? - page 4. (Read 1736 times)
I know it was a sort of market competition and bank owners will think negatively with the existence of Bitcoin as it will slow down their business or even thinking it will be their end. Well, that they are too naive to think that way and that is because they don't know about Bitcoin, about cryptocurrency yet. I can blame them neither as that is business but hopefully, they also understand the situation. And besides, not all are in crypto so they still have clients and they could still able to survive.
Bitcoin have the potential of killing central banks of course. But as long as central banks don't insist on supporting only fiat money, there will be no problem at all. For example, some banks in the USA already started letting people use cryptocurrencies also.
Sorry, but if your theory is correct - casino chips and promotions can also kill banks ?! Cryptocurrencies are now no different from them. You can also pay with chips on the territory of the casino, and trade and speculate with shares.
Come to think of it, a currency note serves a purpose more than being a currency, a purpose bitcoin cannot serve and that is, being a unique trade mark. So, how does this go away? It's just not going to happen.
Bitcoin have the potential of killing central banks of course. But as long as central banks don't insist on supporting only fiat money, there will be no problem at all. For example, some banks in the USA already started letting people use cryptocurrencies also.
Sorry, but if your theory is correct - casino chips and promotions can also kill banks ?! Cryptocurrencies are now no different from them. You can also pay with chips on the territory of the casino, and trade and speculate with shares. But it is the banking sector that essentially sets the rules of the game for both casinos and exchanges. I'll clarify - I'm talking about central banks. Therefore, I would like to hear quality arguments
Bitcoin has to kill the fiat system in order to kill the central bank, which I think is impossible.
Regulators are more powerful than the decentralized system we are trying to invest and promote, and we are wrong to think that it could replace fiat because whether we like it or not, it will just stay as a substitute currency or alternative.
Did we know how a negative action from the regulators against crypto would result in the market?
I'm sure we are all familiar with the China banning bitcoin, especially the crypto mining business and we are experiencing the effect now.
Bitcoin have the potential of killing central banks of course. But as long as central banks don't insist on supporting only fiat money, there will be no problem at all. For example, some banks in the USA already started letting people use cryptocurrencies also.
Sorry, but if your theory is correct - casino chips and promotions can also kill banks ?! Cryptocurrencies are now no different from them. You can also pay with chips on the territory of the casino, and trade and speculate with shares. But it is the banking sector that essentially sets the rules of the game for both casinos and exchanges. I'll clarify - I'm talking about central banks. Therefore, I would like to hear quality arguments
Bitcoin can never kill or affect a bank, before mentioning a whole central bank which is impossible. Banks don't have their own money, people like myself owns the money in the bank so, we can only kill a bank if we decided to withdraw all our money from the bank which is very much hard.
I don't think their is any correlation between bank and Bitcoin. Even most banks are now investing in Cryptocurrency just to be stable and versatile. Bitcoin can not kill a bank not matter it's price.
I don't think their is any correlation between bank and Bitcoin. Even most banks are now investing in Cryptocurrency just to be stable and versatile. Bitcoin can not kill a bank not matter it's price.
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May not depend on Bitcoin alone and maybe the Bank makes a new coin that might generate big profits later. but I didn't find it in my country so this is just a small picture that can't be sure what will happen in the future. All the people's picture of what they want might be realized from the thousands of people who think about crypto in the bank.
Profits for the people or the bank itself? Decentralized projects are not controlled by anyone so user itself make a profit but if a bank creates a project then it is going to be like the same old fiat system in the new technology called blockchain while government is keep printing the money or token and the holders are going to face the inflation and everything that is what are the things existing now. May not depend on Bitcoin alone and maybe the Bank makes a new coin that might generate big profits later. but I didn't find it in my country so this is just a small picture that can't be sure what will happen in the future. All the people's picture of what they want might be realized from the thousands of people who think about crypto in the bank.
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
Crypto should be a new program from a bank that is willing to accept Crypto. So if people go to the bank they will have two different investment options than the rest. but I haven't seen any such bank. maybe in the next few years we will find it.
May not depend on Bitcoin alone and maybe the Bank makes a new coin that might generate big profits later. but I didn't find it in my country so this is just a small picture that can't be sure what will happen in the future. All the people's picture of what they want might be realized from the thousands of people who think about crypto in the bank.
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
Crypto should be a new program from a bank that is willing to accept Crypto. So if people go to the bank they will have two different investment options than the rest. but I haven't seen any such bank. maybe in the next few years we will find it.
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
Crypto should be a new program from a bank that is willing to accept Crypto. So if people go to the bank they will have two different investment options than the rest. but I haven't seen any such bank. maybe in the next few years we will find it.
This is why bitcoin will not replace the money that Central Banks are releasing. Because they have no full control when it comes to bitcoin. CBs may just create their own digital currencies but it will not go to the option of using bitcoin as their sole currency. So nope, bitcoin will not kill Central Banks. The usage of bitcoin may increase but it will never replace the money produced by CBs.
The most expected scenario is that the crypt will have a certain status of a "limited asset", but the technology itself will be used both in the financial and, of course, in the banking sector, though with one caveat - all state financial systems are CENTRALIZED and nothing else! Decentralization in the financial system of the state = lack of state power, anarchy, and most likely the collapse of the state or its degradation.
First of all I do not believe that just because one nation decides to have a decentralized currency doesn't mean that it will be suddenly anancy, things are not as simple as that and I believe it is not going to be whole chaos that crashes the whole nation.However even with that in mind, we do not have to have decentralization as a whole, think about having your own fiat currency as a nation but also allowing bitcoin to be a currency that everywhere can accept. Look at El Salvador and you can see how it can be done, or look at Germany and how they are allowing banks to handle it as well. Just be supportive and turn crypto into alternative method of payment. Think about how you either pay with a card or cash when you pay somewhere, well add in crypto to that and it would be enough to shake up any nation and it will suddenly make things easier for crypto people in that nation as well.
I already wrote above - my assumption is that a place will be found for cryptocurrencies in the market, but they will not become full-fledged payment instruments and will not replace fiat. Perhaps even some groups of goods / services will allow you to pay with crypto, and withdrawal to fiat - only through banks admitted to this procedure and adopted by the rules issued by the regulator. Those. it will be a highly limited, isolated and fully controlled market for specialized assets
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
Crypto should be a new program from a bank that is willing to accept Crypto. So if people go to the bank they will have two different investment options than the rest. but I haven't seen any such bank. maybe in the next few years we will find it.
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
Crypto should be a new program from a bank that is willing to accept Crypto. So if people go to the bank they will have two different investment options than the rest. but I haven't seen any such bank. maybe in the next few years we will find it.
The most expected scenario is that the crypt will have a certain status of a "limited asset", but the technology itself will be used both in the financial and, of course, in the banking sector, though with one caveat - all state financial systems are CENTRALIZED and nothing else! Decentralization in the financial system of the state = lack of state power, anarchy, and most likely the collapse of the state or its degradation.
First of all I do not believe that just because one nation decides to have a decentralized currency doesn't mean that it will be suddenly anancy, things are not as simple as that and I believe it is not going to be whole chaos that crashes the whole nation.However even with that in mind, we do not have to have decentralization as a whole, think about having your own fiat currency as a nation but also allowing bitcoin to be a currency that everywhere can accept. Look at El Salvador and you can see how it can be done, or look at Germany and how they are allowing banks to handle it as well. Just be supportive and turn crypto into alternative method of payment. Think about how you either pay with a card or cash when you pay somewhere, well add in crypto to that and it would be enough to shake up any nation and it will suddenly make things easier for crypto people in that nation as well.
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
Crypto should be a new program from a bank that is willing to accept Crypto. So if people go to the bank they will have two different investment options than the rest. but I haven't seen any such bank. maybe in the next few years we will find it.
We all know that the central bank serves as the economic key to a country. It performs various functions on behalf of the government and assists in the running of the country by implementing various government projects and providing loan assistance. Moreover, the central bank plays an important role in controlling the monetary system of a country. Bitcoin, on the other hand, has become known as a decentralized cryptocurrency and its use is increasing day by day. Although people around the world are investing in Bitcoin and its use is increasing, it is unlikely that the central banks of many countries will go bankrupt. Central banks can work with other cryptocurrencies, including Bitcoin. Central Banks will not shut down.
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
Central banks will still be good and bitcoin is still good, I am very much looking forward to the adoption and consolidation of the sector. Central bank is one of the keywords that many people still wonder about its feasibility, in my opinion, the impact and application on the Central Bank is only sooner or later and there will be clear information for it. But it's probably too early to discuss this, I don't see many concrete factors for this trend to play out right now, and I would coin the future rather than the trend.
As long as banks keep up with digital currencies, I don't think that Bitcoin or this market in general can kill central banks. I've heard already that there are some banks which have started accepting cryptocurrencies also. And that's the right thing to do for them to survive in the future.
I think its possible but in recent not possible to overcome the central Banks.The reason behind government won't let this thing happen, they won't permit any decentralized framework take over the banks and other than central banks is much imperative since we still require it to cash out our cryptocurrency, imagine if there's now not a bank at that point for beyond any doubt no one can change over their bitcoin or any altcoin into fiaJust think for a moment if BTC overcome so fast how will manage the variable rates and retailers will not accept to early till they well trained and aware about Bitcoin.
I very much agree with your point of view. Because of China’s recent anti-bitcoin policies, we can understand that sovereign states will not allow such decentralized institutions to replace our fiat currency banks. At least for now, it’s not possible. We Someone needs supervision to maintain the normal operation of the country. After all, Bitcoin is not able to replace legal currency. There are still some problems in payment. Of course, these problems may be solved technically or gradually in the future. Rather, it is worth asking the question - will the central banks, through their regulators and other state restrictive structures, cryptocurrencies and the crypto market be killed? Banks (included in the financial systems of states) have much more leverage on the crypto market than the crypt on banks. It is enough for banks to prohibit any interaction of banks with crypto-exchanges, and that's it - the value of the crypt will collapse instantly, because it will no longer be possible to convert tokens to fiat for which you can buy something
Very well said, banks will always stay and they will grow, we can never replace fiat with crypto when it's the currency that everyone is trusting. Crypto just came into the picture, and we are even begging crypto to be regulated so it will be accepted by everyone, but thinking one day it will kill the central bank, that's being unrelistic.
The most expected scenario is that the crypt will have a certain status of a "limited asset", but the technology itself will be used both in the financial and, of course, in the banking sector, though with one caveat - all state financial systems are CENTRALIZED and nothing else! Decentralization in the financial system of the state = lack of state power, anarchy, and most likely the collapse of the state or its degradation.
Rather, it is worth asking the question - will the central banks, through their regulators and other state restrictive structures, cryptocurrencies and the crypto market be killed? Banks (included in the financial systems of states) have much more leverage on the crypto market than the crypt on banks. It is enough for banks to prohibit any interaction of banks with crypto-exchanges, and that's it - the value of the crypt will collapse instantly, because it will no longer be possible to convert tokens to fiat for which you can buy something
Very well said, banks will always stay and they will grow, we can never replace fiat with crypto when it's the currency that everyone is trusting. Crypto just came into the picture, and we are even begging crypto to be regulated so it will be accepted by everyone, but thinking one day it will kill the central bank, that's being unrelistic.
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