Topic: Central bank coins vs crypto space coins (Read 1110 times)
Bitcoin is a threat to central banks. Central banks can only produce a fixed cryptocurrency. Otherwise, the economies of the country may collapse with huge manipulations. Bitcoin may seem sympathetic to us. The problem, however, is that it involves huge risks for large organizations.
I think these new centralised coins will just replace their old fashioned analogues and the will be the same in fact, but based on blockchain technology. And of course that will be stable coins.
There is going to be an attempt to do that, governments are trying to spy on you to the best of their ability and what better way to do this than to create a currency in which every single transaction can be viewed by them exclusively and if they want they can take your money with just a few clicks, that has been their dream from the beginning but bitcoin is going to be there so people like us have a way to defend ourselves from those attempts at eroding our privacy. Coins issued by the central bank in my opinion are stable coins because it may be gradually to replace banknotes in circulation in the community. Besides being easier to trace, transactions using crypto will be more transparent and in my opinion this is good for monetary policy
It is evident that Central Bank do really makes their step now to follow the trend of digital currencies and to think about the fiats that they are transitioning to digital currencies, I highly see that the currency they could create will not be a crypto based on blockchain, since whenever that happens, if fiat currencies will be aligned to crypto, conversion of money will be easier and the fiats will just be a tool to mediate people buying cryptocurrency. In which I find good
It is possible that crypto made by the central bank will use blockchain technology but what needs to be considered is the total supply. For central banks, it is difficult to determine the total supply of coins made because this depends on the size of the economy they have
I think mostly these banks will work as normal banks just they will issue crypto coins to customer or i'm wrong? And yes they will be already approved by governments and will bit have any problem to use them, but the main question is if a people need fiat money will can withdraw directly from ATM or can be used only as online payment and direct card payment?
Central bank coins will work like a regulated version of stable coins that we have in crypto space now, there is nothing exciting about CB coins because they aren't volatile, so no one can make profit out of them
I quite agree, 'no one' in crypto space may likely not trade them, but their existence would really boost the crypto market, as it would mean that governments finally understand the value of the tech behind them. Secondly, it might be easier to integrate them to existing crypto exchanges and having not to deal with third party fiat processors.
Central bank coins will work like a regulated version of stable coins that we have in crypto space now, there is nothing exciting about CB coins because they aren't volatile, so no one can make profit out of them
I think these new centralised coins will just replace their old fashioned analogues and the will be the same in fact, but based on blockchain technology. And of course that will be stable coins.
Central coins issued by banks will certainly be stable because the value is not for sale, but only to replace the position of fiat currencies. Therefore, why are many altcoins being banned by the government because it can damage the ecosystem created by banks. They use the excuse if altcoin has the potential to bubble so people are hesitant to have altcoin.
Coins issued by the central bank in my opinion are stable coins because it may be gradually to replace banknotes in circulation in the community. Besides being easier to trace, transactions using crypto will be more transparent and in my opinion this is good for monetary policy
It is evident that Central Bank do really makes their step now to follow the trend of digital currencies and to think about the fiats that they are transitioning to digital currencies, I highly see that the currency they could create will not be a crypto based on blockchain, since whenever that happens, if fiat currencies will be aligned to crypto, conversion of money will be easier and the fiats will just be a tool to mediate people buying cryptocurrency. In which I find good
I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.
1. These new Central Bank coins are they going to be stable coins or not?
Obviously coins made by central bank will be more stable because it is all supported by the local government because it applies to its country only, and whether it will be stable when aligned with Cryptocurrencys in general? Will not be stable 1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
Ii will not happen because the Coin made by a system especially a country, of course this only applies to the country only, and this is clearly different from the more global altcoins and the current BTC USD, this is obviously 2 different things.I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.
1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?
1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?
Coins issued by the central bank in my opinion are stable coins because it may be gradually to replace banknotes in circulation in the community. Besides being easier to trace, transactions using crypto will be more transparent and in my opinion this is good for monetary policy
Central Bank coins to me will be stable coins, with very negligible fluctuations, hence not threat to cryptocurrencies. The more reason why they will be stable coins pegged to FIAT is because the government won't want speculations to affect the price obviously. Well, I don't really have a deep insight on this for now, till any central bank coin is officially launched, then we will know better.
That is not really the way in which those currencies are going to threaten bitcoin, what governments are trying to achieve is to try to deceive people again, they are trying to make people to switch from bitcoin to those currencies in the future in order to keep this market small and they will have some success at the beginning, but when people finally realize the fiat system has been used against them they will renounce those coins and buy bitcoin instead.The government has no intention to do that because so many times the regulators have already stated if they wanna use crypto and they are taking their own risk. Regulators just give awareness.
The fact is if those countries are preparing for the future as anything will be controlled by the technology ( include financial sector).
It's not always to be a threat for bitcoin. I remember when so many people have said if stable coin will be a threat for bitcoin in the past.
I don't even think that they should be put into the same categories as cryptocurrencies.
Sure, they use the underlying mechanisms, but cryptocurrencies generally have the connotation with them that they are decentralized and independent from the government and this is clearly not what central bank coins are for. In fact, they are simply a type of fiat currency which is hosted on a different platform, if you will.
It's very difficult to evaluate the exact impact of these central bank tokens on the wider decentralized crypto market, but it shouldn't be anything overly positive.
You can call them stable coins, digital currencies or simply centralized cryptocurrencies but whatever name they receive the concept behind them will not change and the intention behind them will not change either, it is obvious those coins are going to be created to create competition for bitcoin in this market because if they let bitcoin to keep moving completely free at some point it is going to be adopted by enough people that it will allow the smart people to quit using their fiat and that is something they cannot allow.Sure, they use the underlying mechanisms, but cryptocurrencies generally have the connotation with them that they are decentralized and independent from the government and this is clearly not what central bank coins are for. In fact, they are simply a type of fiat currency which is hosted on a different platform, if you will.
It's very difficult to evaluate the exact impact of these central bank tokens on the wider decentralized crypto market, but it shouldn't be anything overly positive.
They're not created for the sole purpose of competing with BTC.
In fact I think a lot of these coins were going to be created whether or not it's directly competitive against BTC, simply because of the fact that once a technology is mature enough, governments and institutions are obviously going to utilize it to the best of their ability to support their internal structures and monetary policy, in the case of central banks.
So no, don't think of them as some foe to BTC, but their news is quite irrelevant to the decentralized cryptos.
Central Bank coins to me will be stable coins, with very negligible fluctuations, hence not threat to cryptocurrencies. The more reason why they will be stable coins pegged to FIAT is because the government won't want speculations to affect the price obviously. Well, I don't really have a deep insight on this for now, till any central bank coin is officially launched, then we will know better.
That is not really the way in which those currencies are going to threaten bitcoin, what governments are trying to achieve is to try to deceive people again, they are trying to make people to switch from bitcoin to those currencies in the future in order to keep this market small and they will have some success at the beginning, but when people finally realize the fiat system has been used against them they will renounce those coins and buy bitcoin instead.
Central Bank coins to me will be stable coins, with very negligible fluctuations, hence not threat to cryptocurrencies. The more reason why they will be stable coins pegged to FIAT is because the government won't want speculations to affect the price obviously. Well, I don't really have a deep insight on this for now, till any central bank coin is officially launched, then we will know better.
I don't even think that they should be put into the same categories as cryptocurrencies.
Sure, they use the underlying mechanisms, but cryptocurrencies generally have the connotation with them that they are decentralized and independent from the government and this is clearly not what central bank coins are for. In fact, they are simply a type of fiat currency which is hosted on a different platform, if you will.
It's very difficult to evaluate the exact impact of these central bank tokens on the wider decentralized crypto market, but it shouldn't be anything overly positive.
You can call them stable coins, digital currencies or simply centralized cryptocurrencies but whatever name they receive the concept behind them will not change and the intention behind them will not change either, it is obvious those coins are going to be created to create competition for bitcoin in this market because if they let bitcoin to keep moving completely free at some point it is going to be adopted by enough people that it will allow the smart people to quit using their fiat and that is something they cannot allow. Sure, they use the underlying mechanisms, but cryptocurrencies generally have the connotation with them that they are decentralized and independent from the government and this is clearly not what central bank coins are for. In fact, they are simply a type of fiat currency which is hosted on a different platform, if you will.
It's very difficult to evaluate the exact impact of these central bank tokens on the wider decentralized crypto market, but it shouldn't be anything overly positive.
These coins will not be what crypto enthusiasts want to see them because banks and the government want to control everything. Personally, I do not see much interest in this.
I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.
1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?
1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?
It would be an attempt at a stable coin. But if there's anything the conventional currency market has taught us is that there's nothing as such as a stable coin if it is not decentralized and backed by another asset. So the Central Bank issued coins are more like digitized national currencies with probably more security, and will have similar functions to those of the already existing fiat currencies.
Frankly, there's no innovation there.
I don't even think that they should be put into the same categories as cryptocurrencies.
Sure, they use the underlying mechanisms, but cryptocurrencies generally have the connotation with them that they are decentralized and independent from the government and this is clearly not what central bank coins are for. In fact, they are simply a type of fiat currency which is hosted on a different platform, if you will.
It's very difficult to evaluate the exact impact of these central bank tokens on the wider decentralized crypto market, but it shouldn't be anything overly positive.
Sure, they use the underlying mechanisms, but cryptocurrencies generally have the connotation with them that they are decentralized and independent from the government and this is clearly not what central bank coins are for. In fact, they are simply a type of fiat currency which is hosted on a different platform, if you will.
It's very difficult to evaluate the exact impact of these central bank tokens on the wider decentralized crypto market, but it shouldn't be anything overly positive.
banks also until now only want to think of their products as digital money even though they also use blockchain. they will concentrate on stable coins, and as we know, the impact will be the same as stable coins that have been involved with the crypto market, the full function of their coins still cannot be analyzed, but I believe it will still involve efforts to lead to more controlled circulation in a decentralized space, and it will be positive to bring new investor interest.
I think the coin central bank that you say is the same as Fiat, will it be profitable if held?
and how do you say that the coin is not stable, if like BTC or ETH and others are experiencing fluctuations, how do they back it up whether there will be a guarantee that the coin is up or down?
of course those who control the coins will benefit, and of course these coins will not be of interest at all.
and how do you say that the coin is not stable, if like BTC or ETH and others are experiencing fluctuations, how do they back it up whether there will be a guarantee that the coin is up or down?
of course those who control the coins will benefit, and of course these coins will not be of interest at all.
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