Topic: New Body Of Control? - page 3. (Read 1187 times)
Technically speaking, we already have a body which tries to do so, known as FATF. And even though their rules do not have binding power, the states which are not following the "recommendations" are facing severe repercussions including partial or full cutting off from the international financial systems.
If the banking system falls, we will need a new more advanced financial system that will adjust the rate of the main cryptocurrency.
I don't think we need bodies of control. We won't need central banks anymore if we all were to adopt bitcoin as the mainstream currency, but it's yet to be seen if it is going to transform in a world-wide adopted currency or it is going to be a point of reference for the value of assets like Gold is today.
Exciting things are to come and I'm happy to be alive during these times.
Exciting things are to come and I'm happy to be alive during these times.
I will be more agree if bitcoin to be payment, but not replace fiat. I think replace fiat is not that easy to do. But be something that can be as payment with fiat and another digital payment. With that, people can choose what they want to use and not afraid if they are break the law in country that he use bitcoin as payment.
yes that's what I want, bitcoin can be used to buy things or shop in a number of more countries that haven't been able to use it, it's true, to make bitcoin replace fiat money is not easy, and certainly requires a long process, even though bitcoin can already be used to shop or buy things, and fiat money is still going well, someone can have the choice of wanting to use the payment system with bitcoin or other digital currencies or with fiat money.If we were to go to a 100% bitcoin currency system. The banks and governments would loose control of whole financial system. The present governments would loose control.
Therefore a new system would be needed to run each country. What do you think would be the new body of control?
How could this work?
What type of system would be put in place on this.?
I don't think the people can control themselves as too many minds and ideas of where things can go in a direction. Therefore you still need a council or kingdom of control.
your thoughts.
This is not even going to happen. If such thing is close to happening the government would look for a way to stop it from happening because what’s the need for a government if they don’t have any control on money?Therefore a new system would be needed to run each country. What do you think would be the new body of control?
How could this work?
What type of system would be put in place on this.?
I don't think the people can control themselves as too many minds and ideas of where things can go in a direction. Therefore you still need a council or kingdom of control.
your thoughts.
Money is an important factor in the economy, so without it what else are they really governing? So, if they find out that people are really leaving the main system and switching to a new method which is 'cryptocurrency’, they would declare it illegal and anyone found with cryptocurrencies would be seriously dealt with to the extent they won’t ever try it again.
So trust me, that’s never going to happen. I even prefer as things are right now, at least we have peace of mind in the community and the government are not disturbing us.
First of all that's never gonna happen. Governments and other centralized bodies have already started taking measures against crypto.
In true decentralized crypto there is no council and controlling body, everyone who owns bitcoin has the voting right.
In true decentralized crypto there is no council and controlling body, everyone who owns bitcoin has the voting right.
never that the government will ever lose control specially when we are talking about financial ways because they can put any barricade to crypto if this near to come so let us not belittle the capacity of governments in such a way.
they can put taxation or even find ways on banning crypto if they see these issues sooner that is why i believe that the control will always be from the government and not from anyone else.
they can put taxation or even find ways on banning crypto if they see these issues sooner that is why i believe that the control will always be from the government and not from anyone else.
I will be more agree if bitcoin to be payment, but not replace fiat. I think replace fiat is not that easy to do. But be something that can be as payment with fiat and another digital payment. With that, people can choose what they want to use and not afraid if they are break the law in country that he use bitcoin as payment.
there are no ways that Bitcoin will replace fiat or either Bitcoin will be killed by fiat so nothing can be done against each other instead they will be used both together in future. 
Bitcoin is decentralized and hard to control it and track its transactions.Currently an activity held in London by a Technology firm to train the students how to track the transactions of BTC and how to find amount of crypto hacked by the hackers.
If it become a successful and came with a software which help to track the transactions then it will more comfort for the government t legalize the crypto. This is era of technology so possibilities are there,hopefully mystery will be solved to track the crypto transactions.
If it become a successful and came with a software which help to track the transactions then it will more comfort for the government t legalize the crypto. This is era of technology so possibilities are there,hopefully mystery will be solved to track the crypto transactions.
The government's reason to ban bitcoin is not only because it is difficult to track but there is no agency responsible for this currency. Just like other currencies, to become a legal currency requires licensing that must be recognized in every country. Therefore, every time the government discusses bitcoin, the question is who is responsible for it? because for some rules in every country, bitcoin always has a conflict with the regulation of the Act.
Control of Bitcoin or crypto currencies is a very difficult job to do because the almost crypto currencies are decentralized and some of them anonymous.
There is possibility if all crypto exchange comes under regulation by government then we can identify anyone convert the crypto currencies to fait currencies so we need strong regulation for that otherwise it is not possible to track.
There is possibility if all crypto exchange comes under regulation by government then we can identify anyone convert the crypto currencies to fait currencies so we need strong regulation for that otherwise it is not possible to track.
Bitcoin is decentralized and hard to control it and track its transactions.Currently an activity held in London by a Technology firm to train the students how to track the transactions of BTC and how to find amount of crypto hacked by the hackers.
If it become a successful and came with a software which help to track the transactions then it will more comfort for the government t legalize the crypto. This is era of technology so possibilities are there,hopefully mystery will be solved to track the crypto transactions.
If it become a successful and came with a software which help to track the transactions then it will more comfort for the government t legalize the crypto. This is era of technology so possibilities are there,hopefully mystery will be solved to track the crypto transactions.
I will be more agree if bitcoin to be payment, but not replace fiat. I think replace fiat is not that easy to do. But be something that can be as payment with fiat and another digital payment. With that, people can choose what they want to use and not afraid if they are break the law in country that he use bitcoin as payment.
yes that's what I want, bitcoin can be used to buy things or shop in a number of more countries that haven't been able to use it, it's true, to make bitcoin replace fiat money is not easy, and certainly requires a long process, even though bitcoin can already be used to shop or buy things, and fiat money is still going well, someone can have the choice of wanting to use the payment system with bitcoin or other digital currencies or with fiat money. If we were to go to a 100% bitcoin currency system. The banks and governments would loose control of whole financial system. The present governments would loose control.
Therefore a new system would be needed to run each country. What do you think would be the new body of control?
How could this work?
What type of system would be put in place on this.?
I don't think the people can control themselves as too many minds and ideas of where things can go in a direction. Therefore you still need a council or kingdom of control.
your thoughts.
Therefore a new system would be needed to run each country. What do you think would be the new body of control?
How could this work?
What type of system would be put in place on this.?
I don't think the people can control themselves as too many minds and ideas of where things can go in a direction. Therefore you still need a council or kingdom of control.
your thoughts.
It is very unlikely that this type of scenario would even come close to becoming reality.
The fact is that BTC is likely going to continue to coexist alongside prominent fiat currencies, instead of actually replacing them as some people suggest that BTC is able to do. While it could be possible that BTC can act as an interim currency for crisis stricken countries it's very hard to imagine BTC replacing fiat altogether, at least in this current international structure.
It could become a global reserve asset, but I don't think that it'll come close to the new order that you describe.
I will be more agree if bitcoin to be payment, but not replace fiat. I think replace fiat is not that easy to do. But be something that can be as payment with fiat and another digital payment. With that, people can choose what they want to use and not afraid if they are break the law in country that he use bitcoin as payment.
Banks and government will never lose control over money as complete transition from fiat to digital cryptocurrency is not possible and bankers have already launched so many digital payment facilities so that users don't get tempted towards crypto payments and for someone who has used UPI payments and other digital payment methods he/she will find crypto bit difficult, but yes there will be users and business tycoons who don't want their money to be controlled by banks will opt for crypto but banks and government will not collapse.
there is no new system that allows it, some countries have begun to adopt their own coins without seeing bitcoin and others.
although in the end there are institutions that can control it, it will still consider bitcoin not as a currency. the government will continue to prevent public use if it has entered an average ratio of 40%, they can make policies that are truly related to limiting the use of BTC in the real world.
although in the end there are institutions that can control it, it will still consider bitcoin not as a currency. the government will continue to prevent public use if it has entered an average ratio of 40%, they can make policies that are truly related to limiting the use of BTC in the real world.
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If we were to go to a 100% bitcoin currency system. The banks and governments would loose control of whole financial system. The present governments would loose control.
Thing is that you are constructing this thought on the basis that fiat existed and banks controlled them and then bitcoin came in. But this is unrealistic however optimistic we become. Bitcoin being the only mode of transacting would take a long time for the people to accept and use. Then again banks are way more clever than us. They know how the tables can be turned and they may end up being pro-bitcoin with the actual thought of being the big whales of bitcoin. Nobody knows what will happen in future but bitcoin will be a cult system for now.
I don't think Bitcoin will become the official cryptocurrency around the world. Why.? because every government has rules and control over the security of his country. Bitcoin is a system without control. so, that is very much against the government. the only possible option is that the government creates its own crypto currency to collaborate with bitcoin. so that economic control, finance, and state security can be held. humans without rules will be destroyed. will knock each other down.
If we were to go to a 100% bitcoin currency system. The banks and governments would loose control of whole financial system. The present governments would loose control.
Therefore a new system would be needed to run each country. What do you think would be the new body of control?
How could this work?
What type of system would be put in place on this.?
I don't think the people can control themselves as too many minds and ideas of where things can go in a direction. Therefore you still need a council or kingdom of control.
your thoughts.
Therefore a new system would be needed to run each country. What do you think would be the new body of control?
How could this work?
What type of system would be put in place on this.?
I don't think the people can control themselves as too many minds and ideas of where things can go in a direction. Therefore you still need a council or kingdom of control.
your thoughts.
This won't happen in the real world,but if we think about such hypothetical scenario,the governments can still control bitcoin,if they start buying and holding large amounts of BTC and if they start mining BTC.
Acting as a crypto whale and a BTC miner at the same time will be the ultimate form of government control.
The downside of this is that governments will create more bureaucracy and corruption,by taking power and resources from the people and governing them for the "benefit of the public".
There will surely be adjustments. The control will never be totally gone. The government will stay in place. The banks are starting to also make adjustments in order to be somehow compatible with the growing crypto usage. It will only be a change of systems and paradigms.
At least we don't have some government's financial systems manipulating our current national currencies. If BTC is regulated all over the world we will have a free banking system that doesn't need to have some big country to support it. we still far from this, but at least we have progress. Maybe if Satoshi will show He is the one will control it.
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