Topic: Is Bitcoin getting global adoption from this statement by central bank governor? (Read 189 times)
September 20, 2019, 07:49:04 AM
As what is happening right now, the global adoption of Bitcoin already started. The fact that central banks have taken interest in taking advantage of it possible potential is a sign of a country taking step to adopt cryptocurrency. On top of that the most possible cryptocurrency to be adopted is Bitcoin because of its popularity and community. Whether central bank taking control or not is out of the question since we are talking about adoption here and adoption of certain country means laying out rules and regulations so that cryptocurrency will comply and not conflict to a country's existing law.
September 20, 2019, 07:11:52 AM
The central bank governor, Mario Marcel has said that central bank cryptocurrencies (CBDC) can provide more freedom during a time of “unconventional monetary policies.” From his statement, he quoted as saying "The governor goes onto highlight that this new tech could be adopted by the banking system in order to mitigate its intrusive potential. On top of this, distributed ledger technology (DLT) could provide us with some benefits which controversial money technology isn’t able to." You can read the rest of the story here: https://cryptodaily.co.uk/2019/09/bank-governor-central-cryptocurrencies-have-further-freedom?utm_source=OneSignal&utm_medium=App
Central Bank cryptocurrencies are not real cryptocurrencies. Like Libra or JPM Coin, those can't be anything other than private money, or even digital version of fiat money. The banks are uncomfortable with real cryptos, since they are decentralized. Their power is based on their control over money. If they can't control the money — they don't have the power. The best we can expect when it comes to the banks adopting crypto is the XRP thing, where they may consider using it for its technology. They won't adopt Bitcoin, not anytime soon, if ever.
September 20, 2019, 06:56:04 AM
The central bank governor, Mario Marcel has said that central bank cryptocurrencies (CBDC) can provide more freedom during a time of “unconventional monetary policies.” From his statement, he quoted as saying "The governor goes onto highlight that this new tech could be adopted by the banking system in order to mitigate its intrusive potential. On top of this, distributed ledger technology (DLT) could provide us with some benefits which controversial money technology isn’t able to." You can read the rest of the story here: https://cryptodaily.co.uk/2019/09/bank-governor-central-cryptocurrencies-have-further-freedom?utm_source=OneSignal&utm_medium=App
Central Bank cryptocurrencies are not real cryptocurrencies. Like Libra or JPM Coin, those can't be anything other than private money, or even digital version of fiat money. The banks are uncomfortable with real cryptos, since they are decentralized. Their power is based on their control over money. If they can't control the money — they don't have the power. The best we can expect when it comes to the banks adopting crypto is the XRP thing, where they may consider using it for its technology. They won't adopt Bitcoin, not anytime soon, if ever.
September 20, 2019, 01:17:56 AM
This is another nation trying to adopt the blockchain technology through creating their own cryptocurrency, the problem is the fact that this cryptocurrency is to be controlled by the central bank which doesn't make it decentralized, which it ought to be to make it a form of digital currency that would grant the freedom they claim it will have.
If I am not mistaken Ripple is one of those who controlled by the bank now and they are not decentralized. the fact that government wanted to control Bitcoin but they cant makes it centralized. Instead, they are making their own cryptocurrency that under by their control and use the blockchain technology behind on this cryptocurrency they made. I think it brings fast exposure on bitcoin and has massive adoption with that statement. 
September 20, 2019, 01:16:13 AM
If you read it very carefully he mentioned central bank cryptocurrencies that would mean that the central bank is planning to create its own cryptocurrency using blockchain technology. There is no mention of bitcoin being adopted and so it leaves no impression that bitcoin will have a chance to be included in their activities. This is no longer a new idea since banks on the west are also planning to this kind of scheme which is the integration of blockchain technology into the banking system.
September 20, 2019, 12:27:36 AM
This is another nation trying to adopt the blockchain technology through creating their own cryptocurrency, the problem is the fact that this cryptocurrency is to be controlled by the central bank which doesn't make it decentralized, which it ought to be to make it a form of digital currency that would grant the freedom they claim it will have.
I'm always not so convinced with all this kind of news, I feel when the Central bank or government tries to create their own cryptocurrencies without adopting the already existing bitcoin, then they have a selfish motive in their minds, which is definitely not to grant anyone freedom or financial growth.
I'm always not so convinced with all this kind of news, I feel when the Central bank or government tries to create their own cryptocurrencies without adopting the already existing bitcoin, then they have a selfish motive in their minds, which is definitely not to grant anyone freedom or financial growth.
September 20, 2019, 12:11:25 AM
The central bank governor, Mario Marcel has said that central bank cryptocurrencies (CBDC) can provide more freedom during a time of “unconventional monetary policies.”
something that is centralized and is fully in control of the bank is never going to provide any kind of freedom to its users. it in fact gives more control to that bank that has created such a token, and takes the freedom from the users. with fiat, at the end of the day you can withdraw it and have full control over your cash. with a token you can never withdraw that and use it on your own, because you still need that bank and their network to be able to use it.
September 20, 2019, 12:10:58 AM
Central banks can and may adopt cryptocurrency using the blockchain technology but who cares? I am that just like the fiat money, state-controlled and sponsored cryptocurrencies will not be attracting that much support except if people are forced to do so. However, I have to admit that there is a good potential here if done and applied the right way but if a central bank will just assume that it gonna introduce its own crypto and that it can be successful then it is just a wishful thinking.
September 19, 2019, 11:17:17 PM
I guess your country's central bank governor isn't a global central bank governor, is he? So why would his statement matters to everyone or have any global impact?
Hope you're not beginning to see EU, Uk, Chile or wherever as the capital of the world because I don't think much people are familiar with the central bank governor you are talking about.
However, it is our wish that Bitcoin really becomes the global currency, of which it's pushing really hard to become, irrespective of any one persons or group's statement.
Hope you're not beginning to see EU, Uk, Chile or wherever as the capital of the world because I don't think much people are familiar with the central bank governor you are talking about.
However, it is our wish that Bitcoin really becomes the global currency, of which it's pushing really hard to become, irrespective of any one persons or group's statement.
September 19, 2019, 06:47:47 PM
The central bank governor, Mario Marcel has said that central bank cryptocurrencies (CBDC) can provide more freedom during a time of “unconventional monetary policies.” From his statement, he quoted as saying "The governor goes onto highlight that this new tech could be adopted by the banking system in order to mitigate its intrusive potential. On top of this, distributed ledger technology (DLT) could provide us with some benefits which controversial money technology isn’t able to." You can read the rest of the story here: https://cryptodaily.co.uk/2019/09/bank-governor-central-cryptocurrencies-have-further-freedom?utm_source=OneSignal&utm_medium=App
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