Central bank coins vs crypto space coins - page 4.

mobilestrike

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Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

My observations are saying that these coins will be backed on their state currency so the question of stability skips here because it will have the same fluctuation in price as in the states local currencies which rely on the economy of the state. Then it is right that many people will have trust on it and will not worry to put their money in them but for decentralization and for profit from the price they will also not leave the coins of crypto space. Regulations may come after this in the favor of central bank coins but due to decentralization of crypto space coin people will also not have any problem in adopting the current cryptocurrencies.

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Quote from: avikz on December 30, 2019, 06:31:32 AM

Yes, regulation similar to cash currency will also apply to it. However, it wil become very transparent to the government and they will be able to monitor every single transaction that happens using e-currency. So the scope of cryptos are not reducing. People who wants to use cryptos as a currency or as an investment, will continue to do so!

I guess this still going to be used for surveillance and we will have to submit our data when we are going to be using it. There wouldn't be a choice though if your country will start to impose a new law for this digital currency to effectively be accepted by merchants and to people.

There might not be a chance for those who hasn't yet submit to KYC for the first time to exchange to hide. If they own a digital currency issues by central bank and then bought BTC on exchange he will be then traced.

stephanirain

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Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

Cryptocurrencies made by central banks are more likely to be easily be manipulated to favor their business over market. They might as well make amends with the government for favorable regulations. They will also more likely to be stable coins. The blockchain technology can revolutionize the market but it can also be used to make only some capitalist businesses take more control over the market. Hopefully, things can work out and they can be fair with their clients.

Greatchu

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Quote from: Furious 7 on December 30, 2019, 07:06:08 AM

Quote from: Bttzed03 on December 30, 2019, 01:54:52 AM

Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

They will be stable coins that's backed by each central banks national currency. From what I know so far, they won't be traded on exchanges. They will have a spefic use case and will not be subject for speculations unlike crypto coins with open blockchains (btc, eth, ltc, etc.) so do not expect to profit from them.

So the coins will indeed be stable and cannot be traded on the exchange? is that true, it means there is no partner to btc, eth etc.
Maybe central bank coins will be used only for transactions or used in applications that they apply in their region, but I don't know which bank has set up their own coins.

We need to wait and see how things will go with Central bank coins and crypto coins but i am sure the central bank coins can only be used for means of payment, will surely be backed by fiat too nothing more

ATSgrowth

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Central bank coins promises stability, but the problem is that they promise. Like the whole bank system exist on a lie, we need finally solutions that can´t be owned and managed by central authority.

Bharathi13

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Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

>Yes they will be stable coins based

Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

~They will be stable coins because it will help go government to do audit easily.

Quote from: Furryball on December 30, 2019, 12:29:15 AM

3. Maybe people will just use them as a plus since it's from the government?

~ Yes people's will use them as plus since it's from government means it will be more secure. Also it will open window of opportunity for developers around world building wallets and other products for such central coins.

Quote from: Furryball on December 30, 2019, 12:29:15 AM

4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

~ In so many contries still there are unclear regulation about cryptocurrencies and the government are still working on clear set of regulation.

Obito

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Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

Of course they will be stable coins. Banks are centralized they wouldn't go further from what they are. They will be going to create a coin in which would be as close to what a centralized banks has to offer.

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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?

It will be added to a bunch of coins out there in the market. Just because banks have created a coin which fits the function of what crypto currency are that doesn't mean crowd would going to pay their into such coin.

Quote

4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

A never ending regulations, of course!

mrdeposit

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Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

You can make an addition like this to the first question: with what assets these stablecoins will be backed up, created by central banks? Because it is almost certain that they will be stablecoins. So, will the bank that wants to get rid of the paper money create stablecoin based on it again? Or will it be gold or something? The second option seems more appropriate.

jhontwis

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Central banks must protect the value of their money. It has the power to take many measures. In normal economies, they can lower or raise bank interest rates. Central banks in the blockchain economy may lose their power. In other words, the means to intervene in the economy may be limited.

pikkie

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although like that I think there are still few banks that use cryptocurrency because maybe they don't want to take the risk because some time ago they said they didn't support cryptocurrency but would make their own coins that are stable and use blockchain technology which means this can also be said to be cryptocurrency.

V1saya

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If there is a Central Bank coin then I assume it will be a stable one. Central Banks are owned by government. Rules exist but they will be created by the Central Bank itself.

Xcode7

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Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

This is all just our hope and for sure we want something stable, and the best for cryptocurrency. But here we see a limitation due to the role of the government, but hopefully it will not be a factor that causes instability that has an impact on falling prices and falling markets.

bittick

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Quote from: VDraci on December 30, 2019, 09:14:31 AM

Central bank digital coins are stable coins that wont offer anything than just means of payment and 1:1 with fiat currency of each country, finally the world is going digital and guess what? It's just the beginning of better crypto adoption rate

That's true but that depends on how crypto developers can take it as a big advatage for them all. Remember not so many DeFi has made working product. That means we must need more DeFi with real working product to create a gateway to the digital currencies

CodyAlfaridzi

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Quote from: Furryball on December 30, 2019, 12:29:15 AM

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?

1I haven't read about them but probably yes. If it's not stable then it must be some kind of security instead of currency. I don't see why the central bank would issue a new digital currency instead of making a digitalized system of the national currency. Why would people use it anyway? The main value of cryptocurrency is that it shouldn't have a central governing body. It should be decentralized. That's the thing that makes Bitcoin compelling in the first place.

Ken_terrance

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Quote from: zulfi125 on December 30, 2019, 09:16:23 AM

If Central banks will come in the crypto industry this will be a good sign for the crypto industry,
1- this will be a stable coin
2- As you know sable coin worth remains $1 and not changed so this will be profit and loss features if it will be converted into other cryptocurrencies.
3- People will use it due to Govt. Coin
4- Other coins will be regulated if concern GOVT. wants to regulate them.

Other coins may never be regulated but since all Govt coins are going to be stable coins then it thus make sense to regulate some coins like ripple but they will have to exclude decentralized coins like bitcoin

zulfi125

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If Central banks will come in the crypto industry this will be a good sign for the crypto industry,
1- this will be a stable coin
2- As you know sable coin worth remains $1 and not changed so this will be profit and loss features if it will be converted into other cryptocurrencies.
3- People will use it due to Govt. Coin
4- Other coins will be regulated if concern GOVT. wants to regulate them.

VDraci

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Central bank digital coins are stable coins that wont offer anything than just means of payment and 1:1 with fiat currency of each country, finally the world is going digital and guess what? It's just the beginning of better crypto adoption rate

oktana

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regulations will remain formal and set the digital value of central bank coins to remain stable, they only make changes to the efficient use of them electronically.

the logical thing I'm thinking about is that they can legally replace various crypto stable coins with their own coins. Cryptocurrencies will continue to trade as usual, but their role will be far more central with an active policy on each exchange that provides support for cooperation.

desticy

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Coins of central banks will be stable coins and perform the function of digital analogues of various national currencies.
In fact, this is a transition to a new digital era, in which already unsecured money will be only binary code and numbers on the screen. This is much easier to control.

crzy

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Centralized coin kills the purpose of cryptocurrency and I don’t want to see the government creating their own coin because its a way for them to control their people again. Cryptospace doesn’t need any government coin, we already have bitcoin and many good altcoins, i wish for the government to focus on that.

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