Is bitcoin a Trojan horse for government issued cryptocurrency

Mandoy

sr. member

Activity: 644

Merit: 264

Aurox

Quote from: Abigail.Parsons on March 12, 2018, 06:39:51 PM

So a fully decentralised cryptocurrency is probably the best form of money ever invented, instantly transferable, extremely divilable, highly fungable and secure. However all you have to do is replace decentralised with centralised and what we though was the best form of money ever invented is now an instrument we would have took to the street to ban had they been introduced by central banks. I can see a point where governments realise that with a little tweak here or there and they have the ultimate controllable currency, something they could only have dreamed of having

Bitcoin is not a Trojan horse for fiat currency. Rather it gives an option for the citizens as another form of payment method online. Though bitcoin is a valuable currency online but it cannot replace fiat currency. But for a country that is suffering from monetary devaluation then bitcoin is a good way to protect your wealth. Bitcoin must not be seen as a destroyer of fiat currency but rather a support currency that people can use.

fiulpro

hero member

Activity: 1890

Merit: 831

But what benefit would it bring us ? We don't really want the government to control all forms of currencies it's practically very weird .. well to be honest... Government controls more than it should and it's unfair ..
I do think that decentralized ones provides more better approach to.. the ... world at this time .
Also ! There are already too many government regulated currencies in the market that we don't need more of them.
Also q government regulated one won't show that much deviations thats for sure.!

SUDARMONO

full member

Activity: 504

Merit: 100

Bitcoin is the most extraordinary invention of the century in financial matters, which can be transferred anytime and anywhere where there is an internet network, I think it's great for use in central banks.

Simon Eaton

newbie

Activity: 56

Merit: 0

I can't see how bitcoin can ever become decentralised. It's the whole 51% thing. You would need to hack the whole blockchain from the genesis block to overtake bitcoin. That or bribery. Regulations however I suppose could ban any exchanges but peer to peer cryptocurrency trading is almost impossible to fully stop

123exo123

newbie

Activity: 20

Merit: 1

I don't see a problem with the government creating a centralized crypto. If anything, it improves the current fiat system. I actually like the idea, because it adds security to our current monetary systems.

But, anyone who believes in bitcoin will instantly stray away from these centralized currencies. That means that people will remain loyal to decentralized cryptos.

So I think it's not really a big fear if the gov'ts make centralized currencies.

Manoharachan

jr. member

Activity: 93

Merit: 4

It is true that cryptocurrency is the best form of money ever created with decentralized using Blockchain technology, it is very helpful to the government when used by banks in government.

Abigail.Parsons

newbie

Activity: 59

Merit: 0

So a fully decentralised cryptocurrency is probably the best form of money ever invented, instantly transferable, extremely divilable, highly fungable and secure. However all you have to do is replace decentralised with centralised and what we though was the best form of money ever invented is now an instrument we would have took to the street to ban had they been introduced by central banks. I can see a point where governments realise that with a little tweak here or there and they have the ultimate controllable currency, something they could only have dreamed of having

Topic: Is bitcoin a Trojan horse for government issued cryptocurrency (Read 153 times)