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Topic: Central Bank of Crypto-Currency - page 2. (Read 2530 times)

sr. member
Activity: 1974
Merit: 450
November 27, 2018, 11:59:40 PM
In my opinion it's good news, where a government makes bank central of crypto that's same to adopt blockchain. the one that is very worried is that country banning cryptocurrency so if in logic they only want to develop a bank from crypto but do not allow cryptocurrency like bitcoin and altcoins to enter the government. Some say that if their project is successful then the prohibitor on the cryptocurrency will be revoked but there is no confirmation.
it's indeed pretty good, but until now, it seems like there hasn't been a real development of this. well, most bank developments for cryptocurrency only occur on the internet. however, I just hope the development can be faster.
hero member
Activity: 1666
Merit: 502
November 27, 2018, 10:55:25 PM
In my opinion it's good news, where a government makes bank central of crypto that's same to adopt blockchain. the one that is very worried is that country banning cryptocurrency so if in logic they only want to develop a bank from crypto but do not allow cryptocurrency like bitcoin and altcoins to enter the government. Some say that if their project is successful then the prohibitor on the cryptocurrency will be revoked but there is no confirmation.
member
Activity: 420
Merit: 14
November 27, 2018, 10:20:24 PM
I don't know if that is a good idea. I mean we are all against ilthe institutionalization of currencies that we are practically doing the same with the currency we are pushing to be decentralized and free from sny single control. A bank where we can store our accesses is good but to put my coins in it? I don't think so.
full member
Activity: 378
Merit: 100
November 17, 2018, 01:44:03 AM
It is good if a central bank has to established for crypto control and in this way we can say that bitcoin will be stabilize by them and crypto currencies are very good if it create a trust for the public and with this many projects and businesses can be operate through this way while it will make some policies and it will be a kind of guarantee for the crypto world.
hero member
Activity: 2268
Merit: 579
Vave.com - Crypto Casino
November 17, 2018, 01:37:55 AM
In the world of cryptocurrency, a bank is not needed because the creation of a special cryptocurrency bank will open opportunities for criminals who take advantage of the existence of the bank to make profits in an unauthorized manner such as fraud and others.
Well banks are not against bitcoin. They only don’t let the policy of bitcoin to be implemented in their current system. It is like a contradiction between bitcoin nature and banks policies. So yes, when government will regularize bitcoin in a country and provide a central banking system for bitcoin so definitely they will adopt just right to nature of bitcoin.
You're totally wrong because the banking sector are against bitcoin and I want you to know that the banks are behind the reason bitcoin was ban in some country like India due to the statement made by their central bank. However, I dont see any reason why we need the creation of a special cryptocurrency bank or central bank of crypto.
full member
Activity: 659
Merit: 101
November 17, 2018, 01:13:26 AM
In the world of cryptocurrency, a bank is not needed because the creation of a special cryptocurrency bank will open opportunities for criminals who take advantage of the existence of the bank to make profits in an unauthorized manner such as fraud and others.
Well banks are not against bitcoin. They only don’t let the policy of bitcoin to be implemented in their current system. It is like a contradiction between bitcoin nature and banks policies. So yes, when government will regularize bitcoin in a country and provide a central banking system for bitcoin so definitely they will adopt just right to nature of bitcoin.
hero member
Activity: 1092
Merit: 523
November 09, 2018, 06:56:11 AM
the central bank might issue their own crypto currency, using blockchain technology. However, the central bank's crypto currency will certainly be different from the crypto currency that currently exists. Because the crypto currency released by the central bank will still have assets that are the basis of the transaction. and the pattern of calculating the circulation of crypto currencies will be adjusted as well as circulation of state money. decentralized, anonymous, and some of the characters of bitcoin as cryptocurrencies may be lost with the central bank. because the state is always present to be able to control and they will not risk something they cannot control. it is inversely proportional to the creation of bitcoin
This goes against everything bitcoin stands for. We can't have a "central" anything in bitcoin, if you ask me even bitcoin foundation is not needed for us and should be disbanded. There is nothing that could make me think any centralized thing could help bitcoin in  any sort of way.

A bank is the reason why I am involved in bitcoin and crypto so if banks get too popular among bitcoin I will certainly move to another coin and never used bitcoin again.

I do not want banks to be part of my life and it doesn't matter how "different" crypto banks will be it will still be a bank and I do not want to be a part of that. Decentralized is the reason why I am using bitcoin and will continue to do so until it becomes some sort of Ripple like coin with centralized ownership.
hero member
Activity: 1092
Merit: 507
btcstakes.com
November 08, 2018, 05:55:50 PM
Central bank does not equal decentralization. That's why I like ($XHV) Haven Protocol, you'll be your own bank. Wait till offshoring is implemented. It's a big game changer.
full member
Activity: 490
Merit: 101
November 08, 2018, 04:53:15 PM
The central bank of cryptocurrency for countries is a welcome idea but it will take time really for the developing nations to have this setup in their country as other modalities have to be fully in place to sustain its operations. so, I don't see it happening any time soon in some African countries despite their high involvement in cryptocurrency.
member
Activity: 174
Merit: 35
November 08, 2018, 11:18:11 AM
I think its too unnecessary to have a physical bank for cryptocurrencies. It is made to ba transparent hence an organization or a group of person must not only handle the central bank for cryptos because it is a risk to theft and scam. Although a government controling the cryptos in its country, we must still think that even huge part of our taxes goes to them in their "projects" that ends being a scam.
member
Activity: 276
Merit: 10
November 08, 2018, 08:11:14 AM
Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
You can't purchase or buy bitcoin, but you can use bitcoin. Logic goals.

A central bank of crypto,its ridiculous. It has bank in its name, how can it be good? Oh god, we are seeing countries making absolutely worse decisions, and its hypocrisy that's evolving here.

You have just  summed it all up. Besides, the interest of  the regular bank in cryptocurrency is  highly suspicious. It could be  a means of trapping funds as in the case of XRP.,..

I don't see this as a cause for jubilation either  ways
legendary
Activity: 1596
Merit: 1034
November 08, 2018, 07:59:37 AM
In the world of cryptocurrency, a bank is not needed because the creation of a special cryptocurrency bank will open opportunities for criminals who take advantage of the existence of the bank to make profits in an unauthorized manner such as fraud and others.
copper member
Activity: 672
Merit: 270
November 08, 2018, 07:45:27 AM
Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
There is nothing like having a central bank for cryptocurrency, that’s not going to happen. Blockchain is open software and there is no one in control, everyone is in control of their money. If you’ve read Satoshi’s definition of cryptocurrency, he said that he wanted to create something that can help people send and receive money without the middleman, so cryptocurrency is like giving you complete freedom over your money and the risk is also on you. So there is no need for any bank.
I agree to that because crypto known as a decentralized which means no one can control to it. Also if Cryptocurrency have central bank then it will change a lot, the essence of being send and receive with out the third party or no middleman, also once we put our crypto in bank it will never be the same especially in transaction. So I think cryptocurrency will never be have a central bank and its impossible to happen.
newbie
Activity: 31
Merit: 0
November 08, 2018, 06:01:59 AM
Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
There is nothing like having a central bank for cryptocurrency, that’s not going to happen. Blockchain is open software and there is no one in control, everyone is in control of their money. If you’ve read Satoshi’s definition of cryptocurrency, he said that he wanted to create something that can help people send and receive money without the middleman, so cryptocurrency is like giving you complete freedom over your money and the risk is also on you. So there is no need for any bank.
sr. member
Activity: 496
Merit: 254
November 07, 2018, 01:51:26 AM
What about a central bank of bitcoin? A bank that can loan you bitcoin (with interest of course) but because it is bitcoin, they cannot print money from nothing. Frankly, I like not banks either, however what I have said is much different than current banks.

This is interesting that you mentioned how will they "print" bitcoin. In paper money case that is easy they print it and back up with gold like in most of developed countries in the world. But what could they do with the crypto or bitcoin as example.Will they be forced to create some coin that will have for example constant price and that it cannot go up and down, hardy. Why cuz banks want more money if this somehow comes to see light of the day this wont be good in any scenario. Personally like the system as it is.
Lol, so how do you expect anyone to create a so called bank for cryptocurrency and starting giving loans on Bitcoin? It’s only fool that can do that. If you try it you’re never going to get back the money you loaned to people, cause scammers are going to use that opportunity to collect millions of dollars worth of Bitcoin as loans and escape with it. We don’t even need banks, wallets are enough and there even wallets that offer you the same services as you would get in banks.
sr. member
Activity: 616
Merit: 252
November 04, 2018, 08:36:09 PM
This is a positive news for the cryptocurrency community, with the creation of  Central Bank of crypto-currency there will be regulation in the space which will ultimately increase the numbers of investor base on trust they have , thou this might not happen soon as several countirs have policies against cryptocurrency, but in the near future this is a platform to be accepted by all.

Yes, it may attract more people to use cryptocurrency due to it being regulated but then it would be opposite then of what Satoshi envision before of having a cryptocurrency that has a trustless system and people wouldn't use a third party or even ask for permit in their transactions. It is a good thing that the government is recognizing cryptocurrency but then it is still under their control so it is still like making another money under their control so there's no difference to what we have now.
member
Activity: 532
Merit: 10
November 04, 2018, 07:54:03 PM
When ready for central bank of crypto currency is the best way how bitcoin member could save and hold their money with bitcoin, its the best way for getting much profit not only as safe money only but we can take profit with bitcoin too.
member
Activity: 532
Merit: 10
BITCOIN IS THE CURRENCY OF THE GLOBE
November 04, 2018, 06:57:36 PM
This is a positive news for the cryptocurrency community, with the creation of  Central Bank of crypto-currency there will be regulation in the space which will ultimately increase the numbers of investor base on trust they have , thou this might not happen soon as several countirs have policies against cryptocurrency, but in the near future this is a platform to be accepted by all.
sr. member
Activity: 1193
Merit: 251
November 04, 2018, 02:13:42 PM
Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
I do not think that the Central Bank of cryptocurrency will be created.What will it look like, why do we need it and who will use the services of this Bank?More questions than answers.As for India and all other countries in General, I think in the near future, each country will create its own national cryptocurrencies that will be tied to Fiat money.I do not doubt it and this question is a matter of time.
sr. member
Activity: 672
Merit: 253
November 04, 2018, 01:29:43 PM
In order to control crypto market, goverments could take such a decision. Basically, it won't be different digital currecy at some respects. If this happens, reaction of crypto currency investors will be determinative where market goes. I think, most of the investors would prefer at decentralization side.
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