If you cannot beat them, join them....

Trela

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Activity: 1106

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The Decentralized TCP/IP Internet Protocol

Quote from: fiomcorka on September 26, 2017, 05:14:03 AM

Quote from: MMysterious on September 22, 2017, 07:28:22 AM

Quote from: lady pink on September 21, 2017, 01:19:43 AM

Quote from: pooya87 on September 20, 2017, 11:39:29 PM

none of these can really be considered "hopping on crypto wagon". they are just creating their own thing and centralizing it. that goes against the first things that bitcoin as the first big cryptocurrency introduced to the world.

many are actually interested in bitcoin just because it is decentralized and stay away from most altcoins because they are not. a government/bank issued tokens may be good and it may even make the banking system more efficient or even safer but none of them will be the cryptocurrency movement to decentralize money transfer.

The government and conventional banks want to switch their technology to a faster one and that is moving to blockchain. It will bring no change to the currency of the government nor will public except some little portion of the whole will get a wide benefits.
Even if government switches to blockchain it will not be a decentralized currency which will again be in favour of bitcoin which people like it for being decentralized.

I think the government also realized a lot of people are already into bitcoin and the technology is much modernized and faster if they use blockchains, but I really think they will secretly hold bitcoins too aside from creating a cryptocurrency. A lot of investors have realized the use of these coins and decided they'll just join them instead of going against it. It's also a form of tactics on their end.

You are absolutely right that governments have realized that they cannot control the prices of bitcoins because of its increasing popularity and a large number of users from all over the world. So they thinking of joining bitcoins and started investing in bitcoins to ensure their safety if bitcoin damages their country’s economy.

They will invest into Bitcoin, but they do not care Bitcoin can damages their country's economy or not, because the profit they can receive from Bitcoin more than that. Although this word maybe is wrong, but this is my opinion hehe.

liuqi

sr. member

Activity: 1092

Merit: 257

LuckyB.it is Back!

Quote from: Herbert2020 on September 25, 2017, 02:18:32 AM

your title is pretty weird because all these things you named are not really joining bitcoin revolution nor they are joining the decentralization revolution. they are the same old financial systems owned by the same people doing the same thing but the only difference is that they are using a new underlying technology for the same thing.

in a sense this is good since that will improve the financial systems and increase the security of banks to some extent but it is still not the same as bitcoin which is the decentralized and without border money. and it will never be.

Since Japan, India and Philipiness made bitcoin as a legal money to use in their country why you still saying that bitcoin is decentralized money to use.

Banks are not best doing when compare with bitcoin, they regulate everything but consumes unwanted fees but bitcoin only charge you transaction fees and act like investment if we hold the bitcoin as well.

fiomcorka

sr. member

Activity: 496

Merit: 254

Quote from: MMysterious on September 22, 2017, 07:28:22 AM

Quote from: lady pink on September 21, 2017, 01:19:43 AM

Quote from: pooya87 on September 20, 2017, 11:39:29 PM

none of these can really be considered "hopping on crypto wagon". they are just creating their own thing and centralizing it. that goes against the first things that bitcoin as the first big cryptocurrency introduced to the world.

many are actually interested in bitcoin just because it is decentralized and stay away from most altcoins because they are not. a government/bank issued tokens may be good and it may even make the banking system more efficient or even safer but none of them will be the cryptocurrency movement to decentralize money transfer.

The government and conventional banks want to switch their technology to a faster one and that is moving to blockchain. It will bring no change to the currency of the government nor will public except some little portion of the whole will get a wide benefits.
Even if government switches to blockchain it will not be a decentralized currency which will again be in favour of bitcoin which people like it for being decentralized.

I think the government also realized a lot of people are already into bitcoin and the technology is much modernized and faster if they use blockchains, but I really think they will secretly hold bitcoins too aside from creating a cryptocurrency. A lot of investors have realized the use of these coins and decided they'll just join them instead of going against it. It's also a form of tactics on their end.

You are absolutely right that governments have realized that they cannot control the prices of bitcoins because of its increasing popularity and a large number of users from all over the world. So they thinking of joining bitcoins and started investing in bitcoins to ensure their safety if bitcoin damages their country’s economy.

Herbert2020

legendary

Activity: 1946

Merit: 1137

your title is pretty weird because all these things you named are not really joining bitcoin revolution nor they are joining the decentralization revolution. they are the same old financial systems owned by the same people doing the same thing but the only difference is that they are using a new underlying technology for the same thing.

in a sense this is good since that will improve the financial systems and increase the security of banks to some extent but it is still not the same as bitcoin which is the decentralized and without border money. and it will never be.

Flor1982

full member

Activity: 714

Merit: 100

Quote from: Prem.Soorajpaul on September 20, 2017, 12:38:36 PM

Given the explosion of interest in bitcoin and blockchain, the underlying
technology that is said to have applications even more far-reaching than creation of
currency, central banks seem to want to hop on to the crypto bandwagon.

The US Fed came up with the idea of a Fedcoin whereas, a consortium of
Canadian private banks is already exploring the possibility of clearing and settling
large value payments using blockchain using a token called CAD-coin.

The report said that Indian Reserve bank might be named after the Indian
goddess of wealth ‘Lakshmi’ - coin.
But twist is The premise of cryptocurrencies is based on the very fact that it is
a) public and b) not controlled by governments or central banks.

If possible, I would like to share this phrase to JP Morgan personally because i believe he was very obsessed to the down fall of bitcoin and altcoin so that his self interest hidden agenda will prevail. He is trying to hard to use the media so that it will broadcast to everyone in the world for sure that bitcoin is wrong but instead until this very moment bitcoin and altcoin value is at very stable situations.

celested

full member

Activity: 211

Merit: 100

Quote from: Prem.Soorajpaul on September 20, 2017, 12:38:36 PM

Given the explosion of interest in bitcoin and blockchain, the underlying
technology that is said to have applications even more far-reaching than creation of
currency, central banks seem to want to hop on to the crypto bandwagon.

The US Fed came up with the idea of a Fedcoin whereas, a consortium of
Canadian private banks is already exploring the possibility of clearing and settling
large value payments using blockchain using a token called CAD-coin.

The report said that Indian Reserve bank might be named after the Indian
goddess of wealth ‘Lakshmi’ - coin.
But twist is The premise of cryptocurrencies is based on the very fact that it is
a) public and b) not controlled by governments or central banks.

Business is like a battlefield forever. Everyone wants to beat his opponent. But doing business we should turn enemies into you should cooperate. And anything that should make money in the right way will last long and grow later. What is the law of cause and effect.

mozillaspez

full member

Activity: 504

Merit: 102

Quote from: sana54210 on September 23, 2017, 12:35:30 PM

Government been looking for ways to have a centralized digital currency since 2011 and we care less if any of them create their own coin and try to control it.

Let their citizens buy it and keep using while we concentrate on using our own bitcoins. We all know this is totally against the gospel of satoshi and it is so paining them that people are now becoming wiser by the day seeing a way they can give themselves freedom without the government cheating them anymore and controlling their living status.

If it is about government and freedome then it is totally freedom because i also decentralized things and it is totally decentralized and freedom while government cheat everyone which is fair from government.

Duzter

sr. member

Activity: 1092

Merit: 256

Leading Crypto Sports Betting & Casino Platform

What the Op has stated is clearly the real fact, if you can't beat with an innovation it's good to be a part of the network. Already several countries focused making their own digital asset for transaction within the country and cross border. One such seems to be the fedcoin. Maybe in future more banks starts adopting the technology.

Gastotade

sr. member

Activity: 545

Merit: 250

Colletrix - Bridging the Physical and Virtual Worl

Quote from: MyIdeas on September 24, 2017, 06:25:03 PM

Quote from: Tecumseh666 on September 21, 2017, 03:24:45 AM

i’m not think government will enter to buy or sell or start it is own coins like bitcoins because it is out control of central bank and cant add more funds to it

I don’t think so, government will definitely invest in bitcoins in order to make their economy strong and to make it more stable through bitcoins. Government will also try to impose certain restrictions on bitcoins transactions in order to control its price and for monetary purposes.

But it was hard to monitor and to control theres no way yet to control it, that's why China bans the ICO and exchanges since it's not only in their country goes it's distributed to other countries due to Ico.

MyIdeas

sr. member

Activity: 734

Merit: 250

Quote from: Tecumseh666 on September 21, 2017, 03:24:45 AM

i’m not think government will enter to buy or sell or start it is own coins like bitcoins because it is out control of central bank and cant add more funds to it

I don’t think so, government will definitely invest in bitcoins in order to make their economy strong and to make it more stable through bitcoins. Government will also try to impose certain restrictions on bitcoins transactions in order to control its price and for monetary purposes.

VegaAISolutions

member

Activity: 130

Merit: 10

a lot of people have been saying for years it was inevitable that the federal government's of the world catch up to what's going on with Bitcoin another cryptocurrencies and begin to regulate in an organized way, several countries have already laid Frameworks long before now and even the state of New York in America has had a framework in place for quite a long time, the American IRS has had a framework in place since 2013. they've always acknowledged it was a problem for them or possibly even a solution however the major issue and reason they haven't started regulating it until now is because they themselves were using it for profit and other means.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: Tecumseh666 on September 21, 2017, 03:24:45 AM

i’m not think government will enter to buy or sell or start it is own coins like bitcoins because it is out control of central bank and cant add more funds to it

Who will purchase the coins if the government comes up with them? The most important aspect of Bitcoin is that it is protected from inflation by the principle of limited supply. The government authorities may not be able to adhere to this principle, which means that it is not viable for them to mint their own crypto-coins and release it to the public.

sana54210

legendary

Activity: 3346

Merit: 1128

Government been looking for ways to have a centralized digital currency since 2011 and we care less if any of them create their own coin and try to control it.

Let their citizens buy it and keep using while we concentrate on using our own bitcoins. We all know this is totally against the gospel of satoshi and it is so paining them that people are now becoming wiser by the day seeing a way they can give themselves freedom without the government cheating them anymore and controlling their living status.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: Prem.Soorajpaul on September 20, 2017, 12:38:36 PM

Given the explosion of interest in bitcoin and blockchain, the underlying
technology that is said to have applications even more far-reaching than creation of
currency, central banks seem to want to hop on to the crypto bandwagon.

The US Fed came up with the idea of a Fedcoin whereas, a consortium of
Canadian private banks is already exploring the possibility of clearing and settling
large value payments using blockchain using a token called CAD-coin.

The report said that Indian Reserve bank might be named after the Indian
goddess of wealth ‘Lakshmi’ - coin.
But twist is The premise of cryptocurrencies is based on the very fact that it is
a) public and b) not controlled by governments or central banks.

With all these options being considered by government and its agencies, they are turning everything into a joke and that is something that will ensure its not successful because it then means that the one promoted by the fed would not be accepted by the ones by the India government and at the end of the day they create a foreign exchange market which then lead to the same failure the fiat has gone through.

The point is government can go to any length to promote an agenda but they can force citizens to go that route. For me, I see two options

1. The bitcoin will still be the ultimate to be use for international transactions such as the dollars now that is accepted virtually every where.

2. They want to kill the bitcoin and every of their alts failed because I don't see myself using it if I wouldn't be allowed to use bitcoin.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: MMysterious on September 22, 2017, 07:28:22 AM

I think the government also realized a lot of people are already into bitcoin and the technology is much modernized and faster if they use blockchains, but I really think they will secretly hold bitcoins too aside from creating a cryptocurrency. A lot of investors have realized the use of these coins and decided they'll just join them instead of going against it. It's also a form of tactics on their end.

You know Im against of the comparison between faster transactions between by using blockchain and the current electronic transfers of fiat. If you will look and research how fast the current system of fiat transfer thru banks e-cash system, it will just take seconds with no fees*. Still way better compare to the current status of bitcoin transaction speed. Im a bitcoin enthusiast but let's not be one sided just because we are here in bitcoin. Let's must also accept the real happenings.

Also I don't see a BIG SUBJECT anywhere about banking system will try to beat crypto. Why do that in the first place? Banks is not always about investing so still even people used bitcoin, nothing will changed.

erikmatik

member

Activity: 69

Merit: 10

so basically they will also be having an ICO right? And it's up to the purpose and use of the coin that will make the said created coin successful. And maybe one of the use of the said coins is for trading with bicoins and other cryptocurrencies just like on the real money is. Hmmm, we'll just look into the future and witness if the said possibilities will come true.

ipanks

hero member

Activity: 1610

Merit: 507

i am agree with the title because if we don't have big money, we can not beat them and the only we can do is join with them and trying to make money with them. don't push ourselves to against but follow their way and as long as we can do with good, i am sure we can make profit too like them.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: RenBct on September 22, 2017, 07:17:49 AM

Yep KD's words, like JP Morgan who said it will eventually blow up actually bought Btc in europe like why you're so bias about btc and then when you see it go low you just bought the dip.

It's a pretty easy, but at the same time low level form of manipulation that only a bank as JPMorgan can come up with ~ they are abusing their dominance basically.

Funny thing is that such actions would likely come from a bandit bank such as Goldman Sachs, but they are extremely bullish on Bitcoin, and they have accurately predicted the peak, and maybe even the bottom in the coming weeks.

Don't forget that those financial institutions that are heavily against Bitcoin, at least, which is what they want people to believe, are in fact bullish on Bitcoin ~ one way or another, they end up taking a position in this market.

Just look at what JPMorgan did in Europe. If they were really anti Bitcoin, where they even called it a fraud, they wouldn't 'tarnish' their reputation by buying themselves into something like Bitcoin ~ it's one big troll show.

imyashir

copper member

Activity: 448

Merit: 110

Quote from: Prem.Soorajpaul on September 20, 2017, 12:38:36 PM

Given the explosion of interest in bitcoin and blockchain, the underlying
technology that is said to have applications even more far-reaching than creation of
currency, central banks seem to want to hop on to the crypto bandwagon.

The US Fed came up with the idea of a Fedcoin whereas, a consortium of
Canadian private banks is already exploring the possibility of clearing and settling
large value payments using blockchain using a token called CAD-coin.

The report said that Indian Reserve bank might be named after the Indian
goddess of wealth ‘Lakshmi’ - coin.
But twist is The premise of cryptocurrencies is based on the very fact that it is
a) public and b) not controlled by governments or central banks.

what does cd coin mean? kubg relative to bitcoin can be good if it is not in government. You know the government is getting money for all gagaein for money only when they get hurt that they are just fine. but if bitcoin is going to talk I'm sure this is the fear of the government because bitcoin has no taxes.

pearlmen

sr. member

Activity: 322

Merit: 250

Quote from: Prem.Soorajpaul on September 20, 2017, 12:38:36 PM

Given the explosion of interest in bitcoin and blockchain, the underlying
technology that is said to have applications even more far-reaching than creation of
currency, central banks seem to want to hop on to the crypto bandwagon.

The US Fed came up with the idea of a Fedcoin whereas, a consortium of
Canadian private banks is already exploring the possibility of clearing and settling
large value payments using blockchain using a token called CAD-coin.

The report said that Indian Reserve bank might be named after the Indian
goddess of wealth ‘Lakshmi’ - coin.
But twist is The premise of cryptocurrencies is based on the very fact that it is
a) public and b) not controlled by governments or central banks.

The only way this will succeed is if government is ready to breed another new set of the population who have no contact with any cryoto currency especially bitcoin before to start using their backed coin because if they relying on those who be have been exposed before, its going to be a pure waste of time without any outcome as I don't see the need why I want to abandon bitcoin and any other coins I have interest for the one backed by government.

Topic: If you cannot beat them, join them.... (Read 746 times)