Topic: Governments and banks are using you - page 2. (Read 1862 times)

Maybe we became there sock puppet or shall we say a milking cow for them to get a huge benifits from us but there's a good factor about getting some money on each people leave in there state since government need some funds just to have money to used on there good platforms and projects. And I don't know how things work in the bank since the one I know there is we can make our money more safer but in return. And surely they can get more benefit to us and just don't think about it since its so normal in this society today.

What do you mean by these two comments? You're listing mistakes cryptocurrencies have made and these two are on that list.

Bitcoin is backed by fiat currency? Since when?

Bitcoin lacks a patent? Why does it need to be registered as an invention with a company?

I think you may misunderstand a bit how Bitcoin works (and call me out if necessary).

Bitcoin isn't backed by fiat currency. The reason people refer to the value in terms of fiat is because that's the currency that people use to buy and sell it. Bitcoin isn't backed or pegged or hinged to the value of a fiat currency. It's performance or existence isn't dependent on fiat currency.

Bitcoin is a project, creation, invention that isn't bound by any government. A founding principle is that it fills a void in the money system that's been lacking free access, support, and market. For Bitcoin to be registered for a patent would completely and directly undermine what Bitcoin is meant to be. It's meant to operate independent from any central entity (especially government). Trying to gain approval and protection to exist from a government would be the single greatest irony Bitcoin could achieve (and not for the better.)

If I've misunderstood you, please let me know.

Everyone that is currently "investing" in BTC and other cryptos are the "crash test dummies" of the future.

Most major banks and many large/wealthy governments are coming up with their own cryptocurrencies.

Why have these entities not released them yet?  Because they are watching, waiting, and learning from all of the mistakes that other cryptos are making.

High fees.

Slow transactions.

Volatility.

Insecurity of wallets and exchanges.

Public distrust.

Reactions to media attention.

Criminality/money laundering.

Backed by fiat currency.

Lack of patent.

And on and on.

I've been reading this forum for days and I don't see this big picture addressed except in rare cases.  Almost everyone making predictions truly believes that BTC will be around for 50-100 years let alone 2-3.  Every day that goes by is just one more day that forces and entities with far bigger market caps than $100 billion are learning from all of the mistakes and problems plaguing the existing paradigm.

If one is to make a wise investment, they need to be aware of how quickly these markets can change...and literally overnight.  I don't expect much from the fanatics other than irrational reasons why my train of thought is flawed, but I do hope I see some of those individuals that are usually silent come out of the woodwork to offer solutions.  In other words, BTC can only survive if its community takes a mostly pragmatic point of view.  Otherwise it is doomed to be raped and discarded in a way that will leave most reliving their failure to act like that will leave permanent emotional scars like that of PTSD.

Anybody who has invested in crypto during the last couple of years will know that the market can move overnight. It is okay if banks and governments learn from the problems faced by Bitcoin. They will not be able to introduce a coin with Bitcoin's biggest advantage - decentralization.

Both of us are using each other. We used their service to invest or to transact money. And also they used us to be their client. But they are more binificiary compared to us. The more the client is the more they will earn.

Crypto currencies of banks and governments will not be tax free like bitcoins and now even completely decentralized. We will be again charged with high transaction fees etc. Definitely no one is going to use them in the presences of bitcoins. That’s why banks hate bitcoins to bits.

People are found of bitcoins just because they provide complete freedom to the users and they have a full liberty of spending their money the way they want to without paying heavy taxes. Yeah! Even if the banks and governments create their own crypto currencies, no one is going to use them.

Bitcoin is a freedom of transaction that uses crypto. Of course this does not have kaitanya with the government or the bank. the bank is just a tool where we can transfer the bitcoin we have. And could someday the government will work with banks to create crypto for its customers. If this really happened then there is no freedom gained by customers like in bitcoin. And I'm not sure that people will switch from bitcoin, and follow the crypto made by the government. Maybe only a few people will use it.

Everyone that is currently "investing" in BTC and other cryptos are the "crash test dummies" of the future.

Most major banks and many large/wealthy governments are coming up with their own cryptocurrencies.

Why have these entities not released them yet?  Because they are watching, waiting, and learning from all of the mistakes that other cryptos are making.

High fees.

Slow transactions.

Volatility.

Insecurity of wallets and exchanges.

Public distrust.

Reactions to media attention.

Criminality/money laundering.

Backed by fiat currency.

Lack of patent.

And on and on.

I've been reading this forum for days and I don't see this big picture addressed except in rare cases.  Almost everyone making predictions truly believes that BTC will be around for 50-100 years let alone 2-3.  Every day that goes by is just one more day that forces and entities with far bigger market caps than $100 billion are learning from all of the mistakes and problems plaguing the existing paradigm.

If one is to make a wise investment, they need to be aware of how quickly these markets can change...and literally overnight.  I don't expect much from the fanatics other than irrational reasons why my train of thought is flawed, but I do hope I see some of those individuals that are usually silent come out of the woodwork to offer solutions.  In other words, BTC can only survive if its community takes a mostly pragmatic point of view.  Otherwise it is doomed to be raped and discarded in a way that will leave most reliving their failure to act like that will leave permanent emotional scars like that of PTSD.

The spread of crypto currency is death to the banking system. Bitcoin destroyed all the foundations on which the banking system. If we do not destroy bitcoin, he will destroy the banks. This is a war and I'm on the side of bitcoin.

I think that in the future banks will include bitcoins into their system or create a more sophisticated crypto currency. Crypto-currencies have made a serious competition to banks and they think what to do with them.

Anybody who has invested in crypto during the last couple of years will know that the market can move overnight. It is okay if banks and governments learn from the problems faced by Bitcoin. They will not be able to introduce a coin with Bitcoin's biggest advantage - decentralization.