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Topic: If you cannot beat them, join them.... - page 2. (Read 746 times)

sr. member
Activity: 972
Merit: 255
Bear season or just the beginning
September 22, 2017, 07:28:22 AM
#8
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.
member
Activity: 233
Merit: 10
September 22, 2017, 07:17:49 AM
#7
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.
newbie
Activity: 19
Merit: 0
September 21, 2017, 03:24:45 AM
#6
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
newbie
Activity: 49
Merit: 0
September 21, 2017, 01:19:43 AM
#5
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.
legendary
Activity: 3472
Merit: 10611
September 20, 2017, 11:39:29 PM
#4
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.
legendary
Activity: 3122
Merit: 2178
Playgram - The Telegram Casino
September 20, 2017, 05:03:43 PM
#3
Permissioned blockchains as a settlement layer between banks may be viable at one point, nonetheless I yet fail to see the benefit. Governmental issued crypto-currencies however... nah.

I don't think any central bank would be crazy enough to try it. Well, the PBOC maybe, but apart from that I'm sure that deep inside they are themselves aware of the absurdity that such a public-facing crypto-currency would represent.

However if such a digital currency would arise, I wouldn't be surprised if people actually bought in. Just look at XRP for example. Or USDT. We're practically there already.
legendary
Activity: 1218
Merit: 1006
September 20, 2017, 01:33:33 PM
#2
All these coins backed by government or banks can't be anything more than another blockchain based project which will be centralized, heavily monitored and controlled by big banks or government. They might force people to settle their payments in these so called crypto currencies but they will also hold bitcoin like anonymous crypto which is not controlled by anyone to remain in safe side during another financial crisis in near future.

The one with little bit of common sense can easily see difference between all this tokens issued by usual banks and bitcoin like crypto currency.
full member
Activity: 199
Merit: 100
0xB911101025014BfCaA3B17BC7683C0817489bB28
September 20, 2017, 12:38:36 PM
#1

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.
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