Central Bank of Crypto-Currency - page 7.

Vaculin

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Winding down.

Quote from: El_rancho on September 02, 2018, 10:05:12 AM

I think whether having a crypto banks purely speculative and is not important at all.
If banks everywhere wants a piece of the action and wants to be part of the crypto innovation, nothing is really stopping them from doing so.
For me mobile/online wallets and trade sites are quite the essentials anyone needs here.
Maybe at some point, there will be banks, till then I can't really see the big picture.
Good wallets however are crucially important and essential no doubt.

Maybe in the near future,there will be banks already that will accept cryptocurrencies.But in my own opinion,as long as we have our own trusted and secured wallets,then having some banks would not be that useful for us.

ronics

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I think there are rumors to be positive for a market of cryptocurrencies and that's what the government says India has discovered just about anything in a cryptocurrency and that the only problem I've found there is that governments can Taxes of cryptocurrencies to be earned really want them to use it.

jak3

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They are clearly trying there best to keep it under control but sad that all their investment is going to spoil. If they want to develop a central bank then they have to take over the mining power which is not possible to take over because of China. I do want to see them struggling and blaming cryptocurrency for each reason they found to be worthy.

coynedterm

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Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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

May be they can make such type of thing in the country to country but I don't think that they will get a better success to make such type of organisation like things for cryptocurrency because cryptocurrency is totally a independent and free from all type of laws and regulations of the normal rule of Fiat currency , so here I would like to say that Central Bank digital currency by the government of India will not believe a better option for the country .
better for the Indian government will be to make a better rules and regulations I mean to legalize the cryptocurrency with better rules so that everyone can use freely and also can pay tax for use the same .
here news may be different from what we are listening or reading at the news websites maybe the Government of India looking to make a organisation or team off few people who can manage and investigate the cryptocurrency use ( they are going with you better or not use all they are using for illegal activities ) .
hope it will be a better option and step that is taken by the government of India to make such type of team of digital currency to make cryptocurrency market perfectly to spread .

slocker

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Quote from: aso118 on September 02, 2018, 10:24:10 AM

Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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

All these efforts will come to nought. People forget why Bitcoin and other cryptocurrencies became successful in the first place - because of the failures of central banks across the world to manage monetary policy. So a central bank managed cryptocurrency has no chance of succeeding - they will have the same problems as traditional fiat currencies.

Correct. This is why many will still come out of central banks for cryptos. Generally cryptos were create to be decentralized not to be controlled by some bank or something similar to this. This will only come to dividing community in general and maybe it will come to this in near future.

aso118

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Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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

All these efforts will come to nought. People forget why Bitcoin and other cryptocurrencies became successful in the first place - because of the failures of central banks across the world to manage monetary policy. So a central bank managed cryptocurrency has no chance of succeeding - they will have the same problems as traditional fiat currencies.

El_rancho

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I think whether having a crypto banks purely speculative and is not important at all.
If banks everywhere wants a piece of the action and wants to be part of the crypto innovation, nothing is really stopping them from doing so.
For me mobile/online wallets and trade sites are quite the essentials anyone needs here.
Maybe at some point, there will be banks, till then I can't really see the big picture.
Good wallets however are crucially important and essential no doubt.

RudeeTam

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Activity: 299

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I really don't get what the need for banks are in cryptocurrency. If it is about keeping our coins safe, then we have cold storage wallets for that. Even hot wallets are relatively safe if you know how to protect it. I think there are better things to focus on than crypto banks as this can backfire on crypto if it fails.

sheenshane

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Quote from: Ranly123 on September 02, 2018, 07:23:07 AM

Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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

It is like a centralized way of keeping and saving your crypto. Even without these supposed central bank of cryptocurrency, we can still keep our holdings through our wallets be it online or a hardware wallet. So there is no need for a bank if we can have our wallets to keep it.

Technically speaking yes you are right, creating a Central Bank of Crypto-Currencies is sound like very ridiculous. We have our owned wallet that we stored Bitcoin and hold our Crypto-Currencies as an asset. So, why should they have implemented this Central Bank of Crypto-Currency?
Meanwhile, as what I have known Country of India has rejected Bitcoin but they are using Blockchain technology and if I was not mistaken only XRP is allowed to use in their country because it is now centralized and regulated to their government. So, if that happens that having Banking System in Crypto-Currency the word "decentralized" in Crypto will become a legend.

Ranly123

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Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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

It is like a centralized way of keeping and saving your crypto. Even without these supposed central bank of cryptocurrency, we can still keep our holdings through our wallets be it online or a hardware wallet. So there is no need for a bank if we can have our wallets to keep it.

Hell-raiser

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Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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?

Technically, such news should be irrelevant as this is not specific to cryptocurrencies as such. Apart from that, I don't believe in the governmentally-issued cryptocurrency because it simply doesn't make sense. Today, any digital fiat can be considered a cryptocurrency in its own right. The difference between real cryptocurrencies, as we understand the idea, and fiat consists only in the way new money tokens are issued - in a centralized, via a banking system with a central bank, or decentralized manner with the help of miners and using some algorithm.

However, if something like a governmentally-controlled crypto actually emerges, it could eventually contribute to more awareness about cryptocurrencies in general, so people, after trying out this defective and utterly flawed currency, which without doubt will be heavily abused, may switch to a real cryptocurrency at the end of the day. In this sense, if this effort comes to fruition (which I doubt), it could actually turn out beneficial for us all in the long run.

chocolah29

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Quote from: Kelvinid on September 01, 2018, 06:58:55 PM

Quote from: BTC-BTC-BTC on September 01, 2018, 06:18:14 PM

I do see the benefit of be centralized bank. Fast speed, revere transactions, and keep all the profits themself. But, there is no need for centralized cryto bank and it's against what crytos are for.

For me,i don't see any positive news about having a central bank because once there is a presence of a bank,the nature of crypto will be automatically centralized.And for that,banks will have the full control of our own accounts.

Hearing the word centralized just make me sick as this just spoil everything that we all hope for a long time. And now that banks are putting their feet here just means they want to be part of this while their agenda is beneath on their promises.

Seems middle east countries had lost on their thoughts and forget that they banned crypto currency but here they are proposing something in opposite on their regulations. Honestly, I don't know what will they do next.

peter0425

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Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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

It's possible that what they are going to do is have a bank dedicated for Ruppies-backed, Central bank digital currencies (CDDC). So it only makes sense for them to build it just like a ordinary fiat Banks we found around. But if they are thinking of applying this to crypto sphere that we know of, it won't work and sounds ridiculous. What they need to do is regulations and not Central Banks to tackle the issue with crypto (scams, criminal use, etc..)

Grayy

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There may be manipulations to some extent so far as we are dealing with banks. There may be players and stake holders whose primary may be geared towards making profit. It's better to take control of your own bitcoin.

petermike

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This is good news for the world of electronic money in general and for electronic money traders in particular. It is the stepping stone for creating Bitcoin perfectly and possibly through all government bans.

Kelvinid

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Quote from: BTC-BTC-BTC on September 01, 2018, 06:18:14 PM

I do see the benefit of be centralized bank. Fast speed, revere transactions, and keep all the profits themself. But, there is no need for centralized cryto bank and it's against what crytos are for.

For me,i don't see any positive news about having a central bank because once there is a presence of a bank,the nature of crypto will be automatically centralized.And for that,banks will have the full control of our own accounts.

BTC-BTC-BTC

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I do see the benefit of be centralized bank. Fast speed, revere transactions, and keep all the profits themself. But, there is no need for centralized cryto bank and it's against what crytos are for.

buharikx31

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I think that it's really positive news for mass inventing crypto as a depost currency which could be hold at banks. That would be greate if you could hold your money in some bank with legal guarantees or would be better if some currencies will have that option, because in totall crypto are decentralized so it will be cool to have currencies centralized which can be hold on banks like xrp or other

djgtr

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Quote from: jrrsparkles on August 31, 2018, 10:14:34 AM

Quote from: GymClassHeroes on August 30, 2018, 05:56:49 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 don't think the article speaks about the crypto currency. Roll Eyes

Because they mentioned that the printing of the currency every year causes much so they want to have some bank called central bank of digital money where they don't use any paper currency just only the online transactions I think which is not the crypto which is the digital form of fiat money.

We have different ideas and understanding about the project it is up to us on how are we going to understand it wisely. The bank called central bank for cryptocurrencies is very helpful especially to us bitcoiner. It guarantee the securities of the digital money that we have.

vintages

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I think Central Bank of cryptocurrency is more like a centralized system than a decentralized system and it seems kind of irrelevant and unneeded because the exchange is more like a bank for cryptocurrencies. If there is ever a bank set up as that, then be quiet assured that there will be a hundred percent involvement and restrictions from the government.

Topic: Central Bank of Crypto-Currency - page 7. (Read 2530 times)