Govts want crypto they can control | Bitcointalksearch.org

Lauda

legendary

Activity: 2674

Merit: 2970

Terminated.

Quote from: Karartma1 on February 26, 2016, 01:02:26 PM

Lauda I would not be so sure about it. I think they have some task force to study and analyze how a bitcoin-like cryptocurrency can be implented to be at their absolute disposal.

Again, you didn't see the point behind my post. If they create a centralized blockchain then it loses out once of the important 'features' of this technology (decentralization). Centralized means it will be more susceptible to attacks. Just because they have resources, that does not mean that they know how to use them properly (and we've seen that they usually don't).

Quote from: Karartma1 on February 26, 2016, 01:02:26 PM

I mean the code is out there: even a kid could create a coin(and that happens quite often).

Creating a random coin is one thing, adding new features and improving the infrastructure is another.

phishead

hero member

Activity: 1874

Merit: 840

Keep what's important, and know who's your friend

Quote from: 7788bitcoin on February 25, 2016, 12:24:10 AM

Quote from: OROBTC on February 24, 2016, 10:53:16 PM

I'm with Apple here.

By looking at the case alone, it seems like Apple should help to unlock the phone to extract whatever information within. Many people feel that Apple is wrong for not doing this- I feel the same too!

However, when you look at the broader picture, if Apple decided to help this time round, it will set the "first example" and in future the government can make use of this "example" to request phone makers for whatever they want...

I inclined to agree with you.

But you have to realize that what the government is asking Apple to do, or the warrant they are trying to use is the most ludicrous thing ever. They are expecting Apple to reveal information that they have no way of giving, because that phone doesn't have any "back doors" and they don't have a way of retrieving the info they want... What the government is then asking, is to force Apple start producing phones with back doors from here on out, which is even more ludicrous. Anything you search on your smart phone which is deemed "suspicious" allows them to stalk you for as long as they please.

Keeping phones private without allowing back doors is way better for the innocent than the guilty for actual "terrorism" because "terrorist" with knowledge of hacking could then find these back doors themselves to retrieve personal info on anyone with that phone and can be even more of a threat to your average joe.

Allowing the government to force Apple into this is definitely not the way to go.

bitgolden

legendary

Activity: 2996

Merit: 1132

Leading Crypto Sports Betting & Casino Platform

Quote from: Duomo on February 26, 2016, 01:05:33 PM

Not surprised that the government would basically want to do this. The governments know they are "late" to the game. They have the recognition lag of realizing they are late to the crypto-currency system. Now, they face implementation lag with distributing and thoroughly getting a large majority of individuals to start using this. Finally, impact lag would take quite a while to realize the full potential of how this works out over time.

I dont think so Government will be able to do so. The digital currency like bitcoin would presumably circulate in parallel (and at par) with banknotes and other existing forms of the national currency. Bitcoin is totally out of reach for any Government.

Duomo

hero member

Activity: 588

Merit: 500

☃

Not surprised that the government would basically want to do this. The governments know they are "late" to the game. They have the recognition lag of realizing they are late to the crypto-currency system. Now, they face implementation lag with distributing and thoroughly getting a large majority of individuals to start using this. Finally, impact lag would take quite a while to realize the full potential of how this works out over time.

Karartma1

legendary

Activity: 2310

Merit: 1422

Quote from: Lauda on February 25, 2016, 04:17:37 AM

Quote from: Karartma1 on February 25, 2016, 03:29:51 AM

I'm not a conspiracy guy but having a read I can only think of a gov dictatorship that will get only stronger if they could use a cryptocoin. Credit cards already give this chance of greater control over our money and the more tech goes on the lesser privacy we will have

Well if the blockchain that the government would use was centralized, then it would not be resistant as Bitcoin. The government might want to take advantage of cryptocoins, but we've yet to see examples of their work. A lot of them don't understand the technology at all.

Lauda I would not be so sure about it. I think they have some task force to study and analyze how a bitcoin-like cryptocurrency can be implented to be at their absolute disposal. I mean the code is out there: even a kid could create a coin(and that happens quite often).

BlueStackz

legendary

Activity: 1204

Merit: 1028

Yes, this is what the Government wants. They want to control the Crpto currencies so that they can generate their profits
from it. Bitcoins is build on the idea that no Govt. controls it and it is only controlled by the people who uses them.
That's the best part of bitcoins.

ATguy

sr. member

Activity: 423

Merit: 250

Quote from: Funny on February 25, 2016, 04:16:32 AM

What's the point of a cryptocurrency that is centralized and controlled by the government? If they want to do that, visa and mastercard are already doing the job for them. No point integrating crypto into it.

Actually centralized cryptocurrency is bit better than visa and mastercard. You still use Crypto so you can sign pubkey and thus prove ownership. With visa and mastercard you send card ID and pin and they tell you if it match database entry.

But Centralized cryptocurrency does not need blockchain because it can be run on one or few centerally controlled servers, so all it needs is SQL database so in this respect similar to visa and mastercard.

~Bitcoin~

legendary

Activity: 994

Merit: 1000

Quote from: Cranky4u on February 24, 2016, 10:14:09 PM

http://www.news.com.au/finance/money/wealth/the-warning-signs-for-the-future-of-cash/news-story/2a5607982ba7bbbb679cf058135bbc0e

Govts want to do away with cash BUT only for a crypto-coin they can control!

Article in Australia today!

there is no difference between current digital cash system and centralized cryptocurrency if they are planning to open one.

n0ne

hero member

Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

Quote from: SFR10 on February 25, 2016, 01:47:50 AM

First of all, the article was good and agreed on most points. The thing with governments is that, they never do their job and would always like to jump from level 1 straight to level 10 difficulty, without knowing the basics and that's were all the complications arises. They never seem to correct whats wrong from the base and expect to take control of something far more than they could handle. Not sure if their only worried about control or their worried about losing the battle among cash vs digital currencies. There's a reason that there is already a cashless country (Sweden IIRC) and more will surely follow. They could try to take control of crypto currencies but they would never be able to control it in full terms.

Yes thats the reality once they figure out something getting boomed. They try to be within that without any further study. This leads to great collapse of systems running properly. I have seen various technologies undertaken by government when they found systems with much advancement. The bad part is after taking over the control they won't maintain properly. This is what happening in most governments.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: pogress on February 25, 2016, 04:11:04 AM

Quote from: Amph on February 25, 2016, 03:40:58 AM

eth is not centralized afaik, ripple yes, in fact i don't consider it an altcoin at all, and its value is always the same

Both Ethereum and Ripple are premined, and this premining or giving coins to itselves is the control Goverment is looking as well. Actually I think some Ripple clon is best for government as this is not even blockchain based crypto, which can be run at few authorized servers under Goverment control.

every coins has a form of premining even bitcoin(not exactly a premine, but instamine because of very low diff), if it is fair in some way, not dumped by the dev and not too big, and used for example for the project itself, then i don't have anything against it

Lauda

legendary

Activity: 2674

Merit: 2970

Terminated.

Maybe there is a future where centralized (government) and decentralized crypto-currencies exist. However, one of the fundamental points is being lost if the crypto-currency is centralized. People need to wake up from the delusion that they're living in.

Quote from: Karartma1 on February 25, 2016, 03:29:51 AM

I'm not a conspiracy guy but having a read I can only think of a gov dictatorship that will get only stronger if they could use a cryptocoin. Credit cards already give this chance of greater control over our money and the more tech goes on the lesser privacy we will have

Well if the blockchain that the government would use was centralized, then it would not be resistant as Bitcoin. The government might want to take advantage of cryptocoins, but we've yet to see examples of their work. A lot of them don't understand the technology at all.

Funny

sr. member

Activity: 343

Merit: 250

Bonus Claim Url: http://betonline.wager.bz

What's the point of a cryptocurrency that is centralized and controlled by the government? If they want to do that, visa and mastercard are already doing the job for them. No point integrating crypto into it.

pogress

member

Activity: 96

Merit: 10

Quote from: Amph on February 25, 2016, 03:40:58 AM

eth is not centralized afaik, ripple yes, in fact i don't consider it an altcoin at all, and its value is always the same

Both Ethereum and Ripple are premined, and this premining or giving coins to itselves is the control Goverment is looking as well. Actually I think some Ripple clon is best for government as this is not even blockchain based crypto, which can be run at few authorized servers under Goverment control.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: Kakmakr on February 25, 2016, 12:42:16 AM

To be honest the governments could not control cash, how would Crypto currencies give them more control? There are two types of control, namely :

a. Manipulating the value of the currency < Printing it like toilet paper, like they are doing now >
b. Tracking the money flow to catch criminals < Marking notes and surveillance systems in ATM's when you withdraw it >

Right!
You can not control cash.To get control over the whole money supply cash has to be banned and a digital government coin be released.
Or just juse the actual fiat money only in pure digital shape.
But people are not dumb.They will look for other payment methods to circumvent that control and suveillance.An underground and backyard economie will develop and government has achieved absolutely nothing.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: NUFCrichard on February 25, 2016, 02:39:54 AM

Quote from: Amph on February 25, 2016, 02:31:27 AM

sadly for them any crypto coin was especially designed to not be contorlled, contorlling a cryptocoin, goes against the fundamental rule about what crypto is in comparison to fiat

aside from this there is no real 100% decentralization, in fact bitcoin is a bit controlled by the most powerful entity that are mienrs and merchants especially, or at least they have a better position than a simple node

I am no Alts expert, but Ripple, Nxt and ETH are all centralized, along with I am sure many others. Ripple especially could be easily controlled by someone who chooses too.
The question is, if a controlled/controllable cryptocurrency starts to take off, as ETH has been doing recently, will the bitcoin community buy into it and abandon bitcoin?

I expect most would use both, but greed would move many into the newly expanding currency, so that would fluorish, just as the government want.

eth is not centralized afaik, ripple yes, in fact i don't consider it an altcoin at all, and its value is always the same

Karartma1

legendary

Activity: 2310

Merit: 1422

I'm not a conspiracy guy but having a read I can only think of a gov dictatorship that will get only stronger if they could use a cryptocoin. Credit cards already give this chance of greater control over our money and the more tech goes on the lesser privacy we will have

FlyingSaucer

member

Activity: 78

Merit: 10

It makes sense, they just want to substitute one thing for another they would have a greater control of.

unamis76

legendary

Activity: 1512

Merit: 1012

Nice article. Similar has been discussed previously on the forums... Government and banks want to issue their own cryptocurrency and then control pretty much everything you make...

This sentence really made me think:

Quote

But it could make sense for governments to dump cash.

I know "dump" here is in the sense of leave cash behind, but maybe a government's cryptocurrency may have a hidden premine for them to spend however they please Grin

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Quote from: Amph on February 25, 2016, 02:31:27 AM

sadly for them any crypto coin was especially designed to not be contorlled, contorlling a cryptocoin, goes against the fundamental rule about what crypto is in comparison to fiat

aside from this there is no real 100% decentralization, in fact bitcoin is a bit controlled by the most powerful entity that are mienrs and merchants especially, or at least they have a better position than a simple node

I am no Alts expert, but Ripple, Nxt and ETH are all centralized, along with I am sure many others. Ripple especially could be easily controlled by someone who chooses too.
The question is, if a controlled/controllable cryptocurrency starts to take off, as ETH has been doing recently, will the bitcoin community buy into it and abandon bitcoin?

I expect most would use both, but greed would move many into the newly expanding currency, so that would fluorish, just as the government want.

Amph

legendary

Activity: 3248

Merit: 1070

sadly for them any crypto coin was especially designed to not be contorlled, contorlling a cryptocoin, goes against the fundamental rule about what crypto is in comparison to fiat

aside from this there is no real 100% decentralization, in fact bitcoin is a bit controlled by the most powerful entity that are mienrs and merchants especially, or at least they have a better position than a simple node

Topic: Govts want crypto they can control (Read 1055 times)