Topic: Central Bank of Crypto-Currency - page 8. (Read 2515 times)
Creating a central bank of crypto in crypto sense sounds ridiculous because it goes against the decentralization feature of cryptocurrency. However, from a different perspective, I think the junction we are now the crypto community needs the government for quicker and massive adoption of cryptocurrencies, for more stability with fair regulation of the volatile market. Therefore I believe it will be a win-win for both the government and the crypto community. It's really not a bad news.
Creating a Central Bank of Crypto-currency may no longer sound ridiculous
It still sounds ridiculous. Decentralization is what makes cryptos different from fiat, and if there are crypto banks just like the traditional banks then there is no meaning of using cryptos. Because, such a bank would obviously make it centralized and they will be in control of all the cryptos people deposit in there.
Countries adopting the technology does not change anything about the concept of the technology which is decentralization, and creating a bank would change that which is not good.
It sounds ridiculous! Cryptocurrency shouldn't be centralized. Cryptocurrency would have ZERO value over money or gold if any bank can govern it, so there will be nothing to do with blockchain technology. It will be a failed attempt to make the world better then. So, stop thinking nosense, let crypto be more strong without centralization. All hail to mr. Satoshi.
We no need any authority to control the crypto currencies because it will be same as the old centralized system if someone controls it and this is all about digital money not the crypto currency so completely misleading title here.
I think this is a bit positive. But in my opinion, if crypto has central then the cryptocurrency will lose its identity a bit. because for me crypto must be decentralized
Oh! I would be nice if such a bank were founded but unfortunately I am sure that it will not happen in this year. I am wondering where such a bank will be situated? What a country will confirm to found the central crypto currency bank on its territory? What a currency will that bank be focused on? Anyway I consider that such initiatives are very useful for the entire crypto market although even bitcoin ETF was rejected not so logn ago but we are discussing the opening of the central crypto currency bank it seems tha it is too early to talk about it now.
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.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
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.
Yes they just don't mix together. How is this even a thing.
Of course, that shows how much they just want to keep being in control and in the center of everything, so I am not surprised at how ridiculous they are.
this is very funny, the Indian bank banned cryptocurrency but Indian banks made cryptocurrency and now my head is bothered to hear this news hehe lol ...
I just say good luck to Indian banks
I just say good luck to Indian banks
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
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
The thing is that these central banks can only assert control over cryptocurrencies that they issue themselves, and they must be centralized. They can't just all of a sudden assert direct control over bitcoin, for example, which seems like what the article is making it sound like.
India creating a central bank for crypto simply would mean that they are looking into creating some centralized digital tokens on a blockchain, or perhaps a special branch of operations of the central bank to deal with crypto policies. There's nothing more to it than that.
It's no different to the Petro, or any other "state owned" cryptocurrency, which is not necessarily something that positive.
The idea with the central bank of crypto-currency is probably premature, but will soon become relevant.
its an attempt to control the crypto, a desperate idea but i think they really needed that. the most pathetic way that they have to go this down just to regain their position in the future of money. it may not be as bad for those who are not really into crypto but are now wanting to go can benefit from this type of bank.
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. 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
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.
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. 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
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.
This division of their central bank won't be dealing with cryptocurrencies at all. They'll be in charge of digital fiat, basically:
If this really happens, we can only expect India to be even more hostile towards cryptocurrencies, as they're going to be competition. Heck, they're already being quite unfriendly now, saying that they'll be keeping an eye on peer-to-peer trades.
India’s central bank, the Reserve Bank of India’s (RBI), has confirmed the creation of an inter-departmental group tasked with analyzing the feasibility of issuing a rupee-backed central bank digital currency (CBDC), the Economics Times reports August 30.
If this really happens, we can only expect India to be even more hostile towards cryptocurrencies, as they're going to be competition. Heck, they're already being quite unfriendly now, saying that they'll be keeping an eye on peer-to-peer trades.
Perhaps this is not a central bank, but a central server, from which the currencies of crypto currencies will be managed.
That doesn't make any sense.You have a strange sense of humor.
I think that really working crypto central bank might look like a crypto reserve fund,where most of the crypto exchange platforms might hold a part of their crypto holdings.The crypto reserve fund will release cryptocurrencies to the crypto exchange platforms that face problems with their liquidity.It's just an idea.
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
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
The Indian government insists that virtual currency is not a legitimate means of payment in India, the government will also reduce activities related to the use of virtual currencies, because they assume that virtual currencies that are not monitored by a government fear they will be used as criminal activities such as money laundering.
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
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
Having a Central Bank of crypto only sound ridiculous when it comes to ones not backed by the states such as bitcoin, ethereum, monero and others. For state backed ones, it just sound real and reasonable which is what is happening here. Central banks are known to be the only one with legal backing to print the fiat that is spent in the country and its outrightly illegal for anyone to provide such services. Take that responsibility from them and they lose every other power they have as they can no longer say for certain the amount of money in circulation, ensure the availability of forex or being able to maintain the balance of demand and supply etc. I am sure the new crypto they are proposing won't be mined like we have it as that is giving everyone who has the capacity to literally print money.
Wishing them all the best but I hope they are going all out with massive publicity in other to get those that will adopt as I don't see anyone involved in this current ability dropping it for government backed crypto with all the restrictions that will come with it.
This is ridiculous... The whole point of crypto currencies is to have everything decentralized.
Whoever came up with this bright idea has a lot to learn about crypto currency and why it was designed in the first place.
Whoever came up with this bright idea has a lot to learn about crypto currency and why it was designed in the first place.
It's a bit misleading though. Governments are in it to have fiat become a tokenized means of exchange, and not necessarily an actual crypto currency.
In the end I do believe that every government will eventually tokenize its financial structure to at least be able to compete with actual crypto currencies such as Bitcoin. Seriously, fiat currencies have never been in such a bad position with Bitcoin being around the corner to eat through their market share on a massive scale. Governments have no choice but to follow this path.
People however shouldn't be afraid that Bitcoin will lose to any of these government issued tokens. These tokens are maybe more convenient than legacy fiat, but they are still doomed to fail due to insane amounts of value creation and unstable governments. In other words, fiat is and will always remains a ticking time bomb.
I'm not so negative into this news. This can help a lot our cryptocurrency's world to become bigger and bigger.
We need to let people come into this world, so every news can be a good news.
We need to let people come into this world, so every news can be a good news.
This cannot be good from one point. This will only meant that government and major bank will try to manipulate price for every single crypto on he market as they see fit. Maybe im mistaken but this is my point of view, maybe for countries that have legalized or in the process of it can this solution be good but this is something else.
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