Topic: if central bank release cryptocurrency, any effect on current market? (Read 418 times)
January 22, 2018, 12:35:26 PM
They will want to impose individuals to their cryptocurrency and base more of their transactions on their cryptocurrency and place it with high taxes on investors,they can go to extra miles to achieve their goals.
January 22, 2018, 12:25:35 PM
It would make the case for BTC 10 times more compelling. A currency directly controlled by the central bank would be an Orwellian nightmare. They'd have absolute control over every aspect of everything. The current setup can be influenced but it's a ragged mess of companies and routes. With their own crypto they could do anything with the press of their big red button.
That is only if their coin gained enough attention to be used by the majority. We have to remember that they can't make people switch from their legacy fiat accounts to cryptocurrency. Their only way would be to offer this as an option and since this is a novelty not many would decide to switch.
Young people who are already investing in decentralized currency would probably stay away from it or invest some money to differentiate. I just don't see everybody dumping cryptocurrencies and fiat money to get into a bank controlled centralized coin like bit-euro.
January 22, 2018, 12:19:04 PM
It would make the case for BTC 10 times more compelling. A currency directly controlled by the central bank would be an Orwellian nightmare. They'd have absolute control over every aspect of everything. The current setup can be influenced but it's a ragged mess of companies and routes. With their own crypto they could do anything with the press of their big red button.
January 22, 2018, 12:18:33 PM
I think if that happen there is no effect on crypto currency market, but I don't think the central bank will release crypto currency because crypto currency is decentralization, it's difficult to central bank to control their crypto currency.
January 22, 2018, 12:07:50 PM
I am surprised because the central authorities are going to use blockchain like technologies which are purely based on the principle of decentralization and if they are using it then they are killing the core principle of the whole system. It will definitely help them to improve the performance and optimise the process but in that case, it won't be a true decentralisation and decentralisation at all in the whole system. Thus, I don't think that it will affect the real decentralized networks like in Bitcoin or other cryptocurrencies.
January 22, 2018, 11:54:18 AM
Wow, this is a very good news, and it is true that it was a day or so. the bank has realized this fact so far and if it recognizes it then there can be no better than this so it is a good day to say that it very good and not only that our Bitcoin is so bad that it did not understand the bank anymore and the biggest thing is. I am very happy that cryptocurrency will be accepted completely from now on.
Nobody is releasing anything now, slow down or read the thread. It's nothing more than a what if question.
I think that a central bank releasing its own cryptocurrency won't really change anything. It will get some attention from people who support centralization but the rest will remain in the world of decentralized cryptos. It will be a competitive market that's for sure but I doubt any side will be eliminated. They target different groups of people.
January 22, 2018, 11:46:33 AM
It doesn't make a difference as long as it is not decentralized. And I'm pretty sure that banks won't make a currency using blockchain and just let it operate just like Bitcoin. They would probably take such an step only to attract the people from cryptocurrencies towards their coins, but it won't work if the value or the movements of the coin are totally under their control. People use Bitcoin because it is independent, both by value and network.
January 22, 2018, 11:34:48 AM
Wow, this is a very good news, and it is true that it was a day or so. the bank has realized this fact so far and if it recognizes it then there can be no better than this so it is a good day to say that it very good and not only that our Bitcoin is so bad that it did not understand the bank anymore and the biggest thing is. I am very happy that cryptocurrency will be accepted completely from now on.
January 22, 2018, 11:14:43 AM
There seems a sign that central bank are currently interested in the blockchain. So what will be the effect on current cryptocurrency if central bank release their own coins? will it be a good news? 
A lot of banking/financial institutions are interested in blockchain. This shouldn't necessarily mean that they intend to launch their own form of crytpocurrencies. Even if they do, most people won't use it. At least most who understand the concept of crytpo. Can we expect to see a central bank starting an open source project in a Github repository anytime soon??
Banks maybe interested in other capabilities of blockchains like implementing smart-contracts. That too may only be implemented in the form of some products with customers. For example, giving you a bond over their blockchain that you can verify and see on a blockexplorer. Something of a novelty to their old, crazy-rich elites. But there is no chance in hell that they are going to start transacting over a transparent blockchain for everyone to see the movement of funds.
Making that movement transparent amongst the biggest banks is what bitcoin is meant to do in a plausible future.
January 22, 2018, 08:57:23 AM
But of course Central Banks will do everything they can to retain the power within them , they would even go as far as getting themselves involved in bitcoin just like what you said they are currently interested in blockchain who knows what will they enter if the future asks of it they will and if ever banks release their own coins I think that will not be a good news because the banks could force citizens to patronize the coin because it is now the new currency of the country thus affecting all crypto currency in the stock market.
January 22, 2018, 08:12:46 AM
There seems a sign that central bank are currently interested in the blockchain. So what will be the effect on current cryptocurrency if central bank release their own coins? will it be a good news?
Let's just say that this things is likely to happen, central bank's crypto will just be like some other crpytos in the market right now. We can never truly say that it will be the one who'll get total control of the block chain. Just like other cryptos, its success depends on how its campaign goes and the amount of investors they attract. But the budget of the said crypto will be its advantage among others because it has the fund of the central bank that will support them. 
January 22, 2018, 07:30:06 AM
I don't think it's a good idea. The popularity of the cryptocurrency due to the fact that people totally do not trust the government and banks that are part of the existing financial system. What will be different cryptocurrency which would release banks from Fiat? Nothing. So I think that any impact on the market of public cryptocurrencies to be able to.
Right. The basis of cryptocurrencies is decentralization and anonymity. If the bank releases its own currency, will it have total control over its blockchain?
January 22, 2018, 07:27:53 AM
There seems a sign that central bank are currently interested in the blockchain. So what will be the effect on current cryptocurrency if central bank release their own coins? will it be a good news?
I dont think their interest stems from wanting their own crypto currency. Blockchain has so many applications. BTC is just the beginning of it. It successfully proved to many that the blockchain technology works and people are just beginning to understand all the possible application it has. For instance, blockchain could significantly boost their security. They'll basically be protected from data lost. Plus i dont think they'll be willing to shift to crypto because it's a threat to their existence. What makes them powerful is that they're centralized and they have all the control. Why would they give away that control?
January 22, 2018, 07:13:01 AM
I don't think it's a good idea. The popularity of the cryptocurrency due to the fact that people totally do not trust the government and banks that are part of the existing financial system. What will be different cryptocurrency which would release banks from Fiat? Nothing. So I think that any impact on the market of public cryptocurrencies to be able to.
January 22, 2018, 07:05:43 AM
If they chime in, It will increase the cost of all the crypto. Big Profits for all the crypto traders 
January 22, 2018, 07:03:45 AM
I dont think it will do some huge damage to market price, i mean if they really launch ICO and barrely can sell their coin at that time, they would make any big different. cause you see almost everyday new coin born with billion of marketcap or something.
January 22, 2018, 06:39:07 AM
central banks have already released a currency, that is called fiat. then they released a digital currency, which is their banking systems, cards,... making the same thing using cryptography and blockchain technology doesn't make any difference. it is the same thing using some different underlying technology.
so no it has no effect on bitcoin and any other altcoin that is not centralized.
so no it has no effect on bitcoin and any other altcoin that is not centralized.
yeah! this is the best defenition i read.. thank you
January 22, 2018, 06:13:08 AM
There seems a sign that central bank are currently interested in the blockchain. So what will be the effect on current cryptocurrency if central bank release their own coins? will it be a good news?
Yes all the banks are interested in implying blockchain technology even if they consider bitcoin as their rival.Even some central banks have shown interest in issuing their own crypto coins.If they do so,it would be mostly bought and used by the already existing customers of banks and not by customers using crypto coins.We all know that such coins would be centralized unlike crypto coins which are decentralized.No one would be willing to come under the radar of taxing authorities and so it would not have any significant impact on the crypto market. 
January 22, 2018, 05:54:41 AM
There seems a sign that central bank are currently interested in the blockchain. So what will be the effect on current cryptocurrency if central bank release their own coins? will it be a good news?
Cryptocurrency backed by government has never enjoyed support from their locals. Why? Because they tend to impose high taxes on it. Look at Russia's crypto rubble, as far as I can remember they are going to put 10-15% tax on it, logic dictates that you should not buy it, but stick to bitcoin or altcoins to get a better returns on your investment.
And no impact at all to the current market, I doubt that they will moves their funds around and shift to Central Bank coins. There are no money to be made there. Unless the government really impose everyone to go and buy the coins, I doubt that government back coins will really flourish as compare to bitcoin and the whole crypto for that matter.
January 22, 2018, 05:45:47 AM
There seems a sign that central bank are currently interested in the blockchain. So what will be the effect on current cryptocurrency if central bank release their own coins? will it be a good news?
Several countries are intended to create own criptocurrency. I think it is not bad for criptocurrency market. It proves the importance of criptocurrency
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