Well, I don't see any problem in this. Governemts and banks have realised there is no use in fighting bitcoin but to use it for their own good. They want to profit just like us. So, they are watching for the bad sides to see how to avoid them and make things functioning better. But I don't see the threath in this for bitcoin or something that we should be afraid of.
This may seems so right, it is just like us they really want to experience the benefits of bitcoin. Because of the situation they always monitored and waiting patiently to attack bitcoin. 
Topic: Governments and banks are using you - page 3. (Read 1862 times)
Crypto-coins introduced by the government and the bank = centralized currency, with them having power and control over your coins.
Bitcoin = decentralized currency, no one except you control your own money. Which crypto-currency has more advantage? The former or the latter?
The government can issue their own crypto, but won't be able to beat the best feature bitcoin has to offer.
Bitcoin = decentralized currency, no one except you control your own money. Which crypto-currency has more advantage? The former or the latter?
The government can issue their own crypto, but won't be able to beat the best feature bitcoin has to offer.
Contrary to the common mantra in the bitcoin community the general public don't mind their money being controlled by a centralized government
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.
High fees.
A case could be made for high fees being a byproduct of DDoS spammed transactions and miners primarily selecting transactions with the highest mining fees to process.
It isn't 100% a design flaw of bitcoin. Its more motivated by politics and profiteering.
According to a British survey, almost four in five people consider that they remain the rightful owners of the money they deposit in their bank. One in three would even be opposed to the bank lending a portion of it.
But in fact, every time someone puts money on their current account or a book, they actually lend it to their bank. It actually does what it wants and therefore grants credits on that basis.
But in fact, every time someone puts money on their current account or a book, they actually lend it to their bank. It actually does what it wants and therefore grants credits on that basis.
It is okay if the banks and government are or will be creating crytocoins in the future, what matters is what we have in the present. These are still speculations, but if ever that'll happen and if they are using us then they just have to create a coin that can surpass bitcoin then.
Crypto-coins introduced by the government and the bank = centralized currency, with them having power and control over your coins.
Bitcoin = decentralized currency, no one except you control your own money. Which crypto-currency has more advantage? The former or the latter?
The government can issue their own crypto, but won't be able to beat the best feature bitcoin has to offer.
Bitcoin = decentralized currency, no one except you control your own money. Which crypto-currency has more advantage? The former or the latter?
The government can issue their own crypto, but won't be able to beat the best feature bitcoin has to offer.
There are also a lot more reasons than crypto. Loans and etc, high fees, taxes.. It's not a big different from old centuries, just modern and legal one as goverment claims.
Crypto is great, especially bitcoin but I agree you, banks will learn on faults (that faults will be bitcoin's faults) and they will offer us their alternative own one which will be better than bitcoin but privacy will be highly under in question.
Crypto is great, especially bitcoin but I agree you, banks will learn on faults (that faults will be bitcoin's faults) and they will offer us their alternative own one which will be better than bitcoin but privacy will be highly under in question.
Every time price of Bitcoin increases significantly there are some people bitching around about what not but lot. governments are watching those few
Early adopters and the current billionaires of our time and can't do any shit mate, they can launch their own cryptocurrencies sure but when it's not like
Bitcoin truly decentralized and open source no one would give a fuck about them just like now. there are thousands of ICO-POW-POS shitcoins emerging
With some huge backing by some governments, when you are unable to mine a coin and see it has a big market share you know it's not a people's coin
Like BTC.
Early adopters and the current billionaires of our time and can't do any shit mate, they can launch their own cryptocurrencies sure but when it's not like
Bitcoin truly decentralized and open source no one would give a fuck about them just like now. there are thousands of ICO-POW-POS shitcoins emerging
With some huge backing by some governments, when you are unable to mine a coin and see it has a big market share you know it's not a people's coin
Like BTC.
High fees.
I'd call them proportional. Do you know any other currency in the world that is worth as much as BTC?
Slow transactions.
They are fast if you ask me. It takes less than 15 min for a transaction to confirm, provided the fees are high enough.
Try sending money on Sunday afternoon. In most cases you'll have to wait 24h for the money to reach its destination.
Volatility.
Traders like it.
Insecurity of wallets and exchanges.
Which wallets? I've been using QT and Electrum for many years without problems.
Public distrust.
There's a large degree of trust. If there wasn't people wouldn't be buying BTC for $4k a piece.
Reactions to media attention.
Don't know what you mean.
Criminality/money laundering.
Ever heard of USD? It's the favourite currency of criminals around the world.
Backed by fiat currency.
It's exchanged to fiat not backed by it. It's like saying USD is backed by the peso.
Lack of patent.
Because of lack of creator. No creators, no patents, no controlling entity.
And on and on.
Please go on.
I'd call them proportional. Do you know any other currency in the world that is worth as much as BTC?
Slow transactions.
They are fast if you ask me. It takes less than 15 min for a transaction to confirm, provided the fees are high enough.
Try sending money on Sunday afternoon. In most cases you'll have to wait 24h for the money to reach its destination.
Volatility.
Traders like it.
Insecurity of wallets and exchanges.
Which wallets? I've been using QT and Electrum for many years without problems.
Public distrust.
There's a large degree of trust. If there wasn't people wouldn't be buying BTC for $4k a piece.
Reactions to media attention.
Don't know what you mean.
Criminality/money laundering.
Ever heard of USD? It's the favourite currency of criminals around the world.
Backed by fiat currency.
It's exchanged to fiat not backed by it. It's like saying USD is backed by the peso.
Lack of patent.
Because of lack of creator. No creators, no patents, no controlling entity.
And on and on.
Please go on.
I know government and banks may be nuture this in their mind but I think bitcoin will still defeated all of them as it has been doing to others opposition since it inception. We can see that bankers and elites has been fighting and raise opposition against bitcoin to find out it limitations.
This is ridicolous, bitcoin and crypto in the general had exposed fiat issues and big abusive behaviour from some companies that provide remitances. Even banks were catched on this, with their fixed fees, bitcoin and crypto had showed all those companies and countries its possible to keep money into circulation without a third person, and no such high fees. Why would someone invest into any countrie currencie knowing it will be controlled, manipulated and centralized..... think again only stupids and those idiots that believe fiat, bank savings are the most safe investment, those that reject crypto will buy those shitcoin from the countries.
A large and important reason for Bitcoin's creation is the freedom from bank-controlled fiat currency. If a bank wants to increase the supply in a cryptocurrency, they would have to hard fork and update software each time, which the public would not be able to follow, nor would they want to.
So if the bank wanted to create a cryptocurrency, they would have to either:
-Create a centralised coin which crypto enthusiasts decide not to use because of their original reasons for using BTC
-Create a decentralised coin which they don't have much control over, which is pointless as they wouldn't have any more power than they can have in BTC.
So if the bank wanted to create a cryptocurrency, they would have to either:
-Create a centralised coin which crypto enthusiasts decide not to use because of their original reasons for using BTC
-Create a decentralised coin which they don't have much control over, which is pointless as they wouldn't have any more power than they can have in BTC.
Banks and government can create their own cryptocurrency, and it will still be considered an alt. After creating their crypto, what will they do with their fiat? Will they discard it as well? Government will not let go of centralization even if they create their own crypto. That is the greatest advantage of bitcoin against them.
Every one is using everyone so it is not a news to know that government and banks are using us. We live in the world that of "no man is an island". Even Bitcoin community are using each other. Holders use new comers by dumping their expensive bitcoin to the new comer. Then this new comer will dump their bitcoin in a higher price to another batch of new comer. I am not being negative here but it is a universal law to use each other. This is what we called mutualism / commensalism.
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.
i agree bank can issue a coin but it will not decentralized they are not watching if they can make it they already made it
bitcoin is already more than 8 years and still a lot of room to grow
when i start in bitcoin i also think that it will never last but until now bitcoin price keep growing
and it leave permanent emotional scars in me because i didint buy a lot when the price is still low
That's true, all banks are centralized which is nothing difference in the system of the government. which means they are same only the banks and the government, That's why thanks into bitcoin due to it is decentralized.
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.
Yes, anybody can make a coin and have them distributed anywhere and this is the reason why we have so many ICOs right now. Now, having said that, there is no guarantee that a government-backed and issued cryptocurrency can really succeed because one of the intrinsic value of Bitcoin is its being decentralized meaning nobody is really controlling it.
OP seems to be afraid of what the government and central banks can do but as far as cryptocurrency is concerned as long as we are not evading tax then we can be okay. The future looks so bright for Bitcoin despite the government or anyone else.
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.
We don't have to worry about what government can do, because whatever they wanted to do or plans into bitcoin they can't do anything nor touch bitcoin because of the decentralization of bitcoin has. This features of bitcoin is the powerfull tools we had against the government of each country.
Well, I don't see any problem in this. Governemts and banks have realised there is no use in fighting bitcoin but to use it for their own good. They want to profit just like us. So, they are watching for the bad sides to see how to avoid them and make things functioning better. But I don't see the threath in this for bitcoin or something that we should be afraid of.
With all of the SEC regulation and either pending legislation or rumors of legislation I don't see where you get this idea that there isn't a "boiling-frog" style of silent war going on. Not only this, but it's as I said above, banks and governments are developing their own cryptos that will compete directly or indirectly with BTC. Governments do not do things for profit. If they wanted to make money, all they need is to adjust taxes to maximize revenue relative to an economy. Banks cannot profit from a currency unless they can make fractional reserve loans out of it. The threat is that if government or bank altcoins come out that are "bigger, faster, and stronger" than BTC leading to a large % of the general public using it....BTC will be facing a threat that could reduce it to nearly without value overnight...literally.
Well, I don't see any problem in this. Governemts and banks have realised there is no use in fighting bitcoin but to use it for their own good. They want to profit just like us. So, they are watching for the bad sides to see how to avoid them and make things functioning better. But I don't see the threath in this for bitcoin or something that we should be afraid of.
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