Coins and Bank mesh! | Bitcointalksearch.org

timotron

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Quote from: hatshepsut93 on August 18, 2019, 04:54:54 AM

First, those companies are only working on their coins, but they haven't launched them, and it's not yet clear if they will ever be, because there's regulatory uncertainty whether the governments will allow them to launch their coins. It all also might just turn out to be a failed experiment. Banks aren't going to massively switch to coins, traditional electronic banking is still very strong.

The other thing is that those coins are completely centralized, they are not true cryptocurrencies, so they shouldn't be compared to Bitcoin or viewed as its competitors.

hahaha, if gov could control if anyone is launching a coin ... It is for sure 100% that sooner or latter we will see a Facebook coin and expanding...

I dont like LIBRA, But it will make BTC gain atention Cheesy

Quote from: bitbunnny on August 18, 2019, 06:08:06 AM

Bitcoin doesn't have similarities with coins you mentuoned. Still they are all part of crypto family. With time whole are of cryptocurrencies and the market will become more regulated and that is inevitable. That is also condition for better adoption especially by businesses.
Also banks will get more involved with cryptocurrencies and they will begin to offer crypto related services and that is not distant future.

I speck mayor discounts and bonuses when Libra comes the way.

Quote from: joelsamuya on August 18, 2019, 08:53:43 AM

All I can say is that we are under an open market therefore anybody including big financial and banking institutions can use the blockchain technology to come up with their own coins or tokens. Basically, I can see nothing wrong with this development so let's just allow the market to take its course someday we can see which of them will be successful and which happened to just went kaput. In fact, I am considering this as exciting times when companies and organizations are experimenting with different options they got at hand...at the end I am sure the consumers will be the ultimate winners with this trend.

Depends, if we lose on anonimity and control over our cryptos we not winning much...
this is Way Libra is BS at all...But it will make a ++ impact in crypto ...probably :S

joelsamuya

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All I can say is that we are under an open market therefore anybody including big financial and banking institutions can use the blockchain technology to come up with their own coins or tokens. Basically, I can see nothing wrong with this development so let's just allow the market to take its course someday we can see which of them will be successful and which happened to just went kaput. In fact, I am considering this as exciting times when companies and organizations are experimenting with different options they got at hand...at the end I am sure the consumers will be the ultimate winners with this trend.

avikz

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Quote from: timotron on August 16, 2019, 01:25:03 PM

So,
now that we have Facebook with Libra, China, India, JpMorgan... a lot more big names creating the own crypto coin/token -

This will be a super mesh for banks and regulators, What are you guys thoughts and visions about this??

Enjoy the show!

Bank controlled coins will not become a traditional cryptocurrency in any way because of their centralized structure. Those will be just another virtual representation of what we already have, fiat currencies! Just the way we carry wallets, will be changed to a handheld device like smartphones! Only Libra is trying to build something different but again it will be strictly centralized and facebook will have to comply with various regulatory rules and regulations. There will be huge competition in the virtual currencies market in coming future because even countries are planning to offer digital coins. This space will become super messy because of all these and eventually they will have to come under a global regulation. Because without global regulation, it is impossible to maintain the risks below the belt.

But firstly don't get excited about the big names creating cryptos because no coins will give you the power like bitcoin does in its decentralized operating structure.

bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

Bitcoin doesn't have similarities with coins you mentuoned. Still they are all part of crypto family. With time whole are of cryptocurrencies and the market will become more regulated and that is inevitable. That is also condition for better adoption especially by businesses.
Also banks will get more involved with cryptocurrencies and they will begin to offer crypto related services and that is not distant future.

hatshepsut93

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First, those companies are only working on their coins, but they haven't launched them, and it's not yet clear if they will ever be, because there's regulatory uncertainty whether the governments will allow them to launch their coins. It all also might just turn out to be a failed experiment. Banks aren't going to massively switch to coins, traditional electronic banking is still very strong.

The other thing is that those coins are completely centralized, they are not true cryptocurrencies, so they shouldn't be compared to Bitcoin or viewed as its competitors.

BrewMaster

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There is trouble abrewing

we don't want average Joes to come in just because it is hyped up or they only hear about bitcoin as a cryptocurrency. we want only people to come in when they seek what bitcoin offers as a decentralized currency.
so in my opinion all these "big names" are good for bitcoin because the more they push for restrictions, regulations, surveillance, control,... the more they are going to push people in the other direction escaping their tyranny. and bitcoin provides that escape route for them.

timotron

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Quote from: bitart on August 16, 2019, 04:08:04 PM

I don't really get what do you mean, but bitcoin is totally different from these kind of coins, because bitcoin is decentralized and others are (or will be) centralized.
There were several threads about the difference, and unfortunately the average joes don't really care if a coin is centralized or decentralized. If facebook will start the marketing for it's new 'currency' average joes will be happy to start using it, and they won't care about the background or about the technical details. People are lazy enough to just use the tools they get from somewhere and they don't really want to understand/deal with the details... Just an example, most of the people don't have a clue how the engine of the car works, they only know that they have to fill it up with gasoline and turn the ignition key, and it works, they don't care about the rest...
Bitcoin is for those who care, that's all... so I bet that libra will have much quicker adoption among everyday people then bitcoin... But this also can help bitcoin, because if people get used to use 'cryptocurrencies', they won't be afraid of bitcoin anymore, I hope...

Bitcoin is totally different, ofc... And it seems you got it really good based on your answer.

I agree on you thoughts about average Joe´s, but this makes me fear...
I think this will make mass adoption happen, this big names coming in, so I would say it will make Bitcoin grow.

anyways,
I found this amazing video from Andreas Antonopolous explaing related stuff: https://www.youtube.com/watch?v=Pkgo05Hdnfg

bitart

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Vires in Numeris

I don't really get what do you mean, but bitcoin is totally different from these kind of coins, because bitcoin is decentralized and others are (or will be) centralized.
There were several threads about the difference, and unfortunately the average joes don't really care if a coin is centralized or decentralized. If facebook will start the marketing for it's new 'currency' average joes will be happy to start using it, and they won't care about the background or about the technical details. People are lazy enough to just use the tools they get from somewhere and they don't really want to understand/deal with the details... Just an example, most of the people don't have a clue how the engine of the car works, they only know that they have to fill it up with gasoline and turn the ignition key, and it works, they don't care about the rest...
Bitcoin is for those who care, that's all... so I bet that libra will have much quicker adoption among everyday people then bitcoin... But this also can help bitcoin, because if people get used to use 'cryptocurrencies', they won't be afraid of bitcoin anymore, I hope...

timotron

sr. member

Activity: 924

Merit: 281

Trooper Founder & CEO

So,
now that we have Facebook with Libra, China, India, JpMorgan... a lot more big names creating the own crypto coin/token -

This will be a super mesh for banks and regulators, What are you guys thoughts and visions about this??

Enjoy the show!

Topic: Coins and Bank mesh! (Read 165 times)