Topic: central banks and Bitcoin (Read 2066 times)

The fact still remains that bitcoin can never replace fiat money reason being that bitcoin is not coming from the government and the government don't have total control over bitcoin even if bitcoin is centralized today the technology behind it, will make it impossible for the government to have total control over bitcoin and at that the government can not take the risk of replacing what their have control over with what their can't control. The highest the government can do is to allow bitcoin to be use as a secondary currency.

Các ngân hàng, nếu bạn muốn tồn tại trong tương lai gần, phải tìm một cách để hòa giải với bitcoin để tìm một cách để phát triển với bitcoin nhưng không quản lý nó. Không dễ dàng để các quốc gia và hệ thống tài chính của họ chấp nhận điều đó nhưng thực tế là nếu các ngân hàng không thích nghi với thị trường mật mã toàn cầu thì ngày ngân hàng sẽ bị loại. Cuốn sách sẽ không quá xa.

I think about central banks and bitcoin is if bitcoin come to a success that many people now trust bitcoin to use them it their daily routine I think central banks will ask the government to be a part of it also because they may lose their job on their own currency they have and I think it will possible to make banks a part of bitcoin maybe soon.

bitcoin or other altcoin has nothing to do with the central bank because bitcoin is a crypto currency whose value can not be affected by its government policy

Absolutely, banks and bitcoins are so different. They are totally flip at a side. Banks always want to control all the circulation of money where bitcoins are decentralized. No one control bitcoin directly whereas policies of banks are totally opposite.

Bitcoin and bank are two things that are difficult to put together, the presence of bitcoin becomes a threat to the bank so the bank will not accept bitcoin. if one day the bank receives bitcoin then the user will increase significantly and the fiat money will decrease in value.

everything will be fine just according to what we want. bitcoin and central bank

I don’t think so that bit coins need a central banking system for stability and monetary purposes because bitcoins are well known because they decentralize the economic system developed by governments.

People owning bitcoins don’t need any special permissions from their banks to spend bitcoins in any way they want.

According to your opinions people will do not want to keep their bitcoin in central or any other bank as you mentioned because of the return rates. Any bank gives a very low profit of interest and direct dealing will give you much higher profit.

Therefore in my mind central banks are not a good option for your bitcoin. If you want more and more profit in less time you should keep bitcoin in your blockchain or other wallet.

It is precisely at this time that causes a monetary crisis in a country is due to the bank policy that only benefits to their people and instead take advantage by draining the small people who do not know anything. they are all forced to pay a large interest even greater than what they borrow from the bank. bitcoin present offers to us to be free from our dependence on the bank. so I think the monetary crisis can be pressed with the bitcoin system right now.

Most of central banks are crashing their heads to walls. And thinking the reason of why they didn't make their own crypto currency 5 years ago.
Most of them trying to integrate to blockchain but they don't have enough IQ to do this

Yes this is better for people that as they do not need any bank for holding bitcoin, they are free from the government rules for money making and controlling. People are free to buy and use their bitcoin wallet which is totally out of the control of the officials.

You can hold your bitcoin in your blockchain wallet or any other wallet you like. The central bank has no command and approach to your personal bitcoin wallet for anything else.

Yes that is the main reason of bitcoin popularity that it has no interference and also no rival to stay in the path of its popularity and increasemnet. No central bank and any other bank involve in bitcoin business because it is not a paper money.

It is digital currency and the people are so interested in buying and dealing in bitcoin. I think if any bank interferes in bitcoin then it may does not gain so much importance all over the world.

Bitcoin have more scope than central bank and investing in bitcoin can gave more profit than central banking system so one should prefer BTC. Bitcoins are the future of the world economy systems and banks are really afraid of bitcoins since people are skipping bank accounts and saving their money in the form of bitcoins for big profits than the banks offer.

Central Bank is the head of anything related to finance of the country financial system and if anything happens like financial crisis the only thing that will happen is the central bank introduced a momentary policy that will stabilize the financial system and help every thing to normality. Bitcoin also can stabilize financial system during economic crisis through inflationary control as most times what create inflation is the cost of production of fiat money.

We all accept banks as something that have being written in old testament and it supports sky from falling down on our heads. Banks is just weird optimization for loans provision and double spending prevention. Bank provides trusted consensus on value of the money,and contorols money supply. They are inherently unstable because its such a heavy burden to care about all people and provide them with means to buy food and shelter, so they do mistakes from time to time (in regular cyclic way).What will you do when inflation erases all your savings, and you cannot buy bread for your children. Nevermind that inflation is constantly generated by banks. But enough with sarcasm. Banks have clear way to go with cryptocurrencies. They need to embrace them, provide guidance in terms of financial instruments development. Banks have to retreat to monitoring,analytics,and customer support roles, abandoning currency emissions and loans business. But off course they wont do it. They will fight it as newspapers fought internet for ads, as music companies fought mp3, as movie companies fought with torrent networks. I tnink we will hear interviews with bank workers who will complain loosing jobs to blockchain and telling that they only want to earn they money with some dignity.

I suppose it will in some way try to regulate and start dealing in bitcoin and accept bitcoin because it is a big threat to banks but there is no way other than accepting and dealing in bitcoin for banks and bitcoin is the future and it is unstoppable because of its nature.  

Yes, Bank and bitcoins have different infrastructure and they are not compatible with each other.  Banks are centralized and they have proper control over the money which bitcoin is decentralized and no one is the owner of that currency.  Bitcoin wallets can serve as own banks for individual users where they can send receive the bitcoins , but there cant be a central repository for bitcoins. There is no connection  between banks and bitcoins.

Central banks acts as buffers when situations gets out of control but the question to ask is that, what were they looking at before it got to that point where they have to start talking about revival rather than avoidance. Their argument against bitcoin is something I like to see as mere jealousy and as it relates to financial instability, I don't see how that will happen in bitcoin because the origin of that is spending beyond what you have which personally I don't see it happening in bitcoin or say on a high level.

Yes, this is also a problem for governments and its central banks that if they need more bitcoin, it is not in their reach that they arrange the supply. Because it is not paper currency and they do not print it. So, I feel that any central bank of any country would not be able to fulfill the demand of the people for bitcoin. That’s why they do not take any part in bitcoin mining and anything else related to bitcoin.