Private Coins from banks and governments - page 4.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

Quote from: bitroxis on March 16, 2018, 05:47:04 PM

Quote from: RodeoX on February 08, 2018, 11:44:56 AM

I do. However the most important attributes of any money I would use are:

1. Decentralized ledger.
2. Open source code.
3. The inability of any entity to have greater access.

Such a coin would be a Frankenstein monster that the banks could not control. It may just come back to hurt them. And how are they going to make money from this system? Who is paying for all the infrastructure? And why would I use a banks coins when I could have universal money that works in any country?

I totally agree with this opinion. Banks will not develop their own crypto because they cannot manipulate crypto at their own free will. It's way too transparent.

It's not only about manipulation, it's about the profit, that is the main mechanism that stimulans banks. At their current estimation their own coins wouldn't be supported at the market by the users and wouldn't give them profit. In fact the impact might be just the opposite so banks will not decide to go into such adventure.

cubicus

jr. member

Activity: 55

Merit: 2

Hello from betolucky

bitroxis

full member

Activity: 122

Merit: 100

Quote from: RodeoX on February 08, 2018, 11:44:56 AM

I do. However the most important attributes of any money I would use are:

1. Decentralized ledger.
2. Open source code.
3. The inability of any entity to have greater access.

Such a coin would be a Frankenstein monster that the banks could not control. It may just come back to hurt them. And how are they going to make money from this system? Who is paying for all the infrastructure? And why would I use a banks coins when I could have universal money that works in any country?

I totally agree with this opinion. Banks will not develop their own crypto because they cannot manipulate crypto at their own free will. It's way too transparent.

September11Myth

full member

Activity: 387

Merit: 106

Quote from: BossMacko on March 02, 2018, 07:43:31 AM

They can try, there are lots of programmers that they can hire to create this but the problem in this is that the support of the users or the community. Before they create they should plan on how to get the support of the community because without a user this coin will be useless.

They have the media. This gives them the minds of the people to play with. The community of cryptocurrencies is made by 1% or less of the people. Banks and governments will swallow the other 99% in just one bite or two.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: Noelbetty12 on March 08, 2018, 06:50:39 PM

This a big possibility. Hopefully in future, the government will be making it one of these days. As of now the reason why some countries are yet so silent is that it could be that they are studying how digital currency works and affects people. Some are not calling for a ban on bitcoin and altcoins and some countries are doing nothing because they could study or analyze the market and make it as a reference to the coins they would want to make later. So its like a subject of an experiment.

I do not see why you think that will be a good idea such coins will be no different than the fiat they are already created and in fact a cryptocurrency created by a government has the potential to be way worse than fiat since they will introduce new characteristics like only using one address so that address is forever connect to you, KYC policies or chargebacks of payments which basically means they can steal money from your account and you cannot do anything about it.

Noelbetty12

jr. member

Activity: 168

Merit: 5

Now You Can Be The Bookmaker!

This a big possibility. Hopefully in future, the government will be making it one of these days. As of now the reason why some countries are yet so silent is that it could be that they are studying how digital currency works and affects people. Some are not calling for a ban on bitcoin and altcoins and some countries are doing nothing because they could study or analyze the market and make it as a reference to the coins they would want to make later. So its like a subject of an experiment.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: shezu007 on March 08, 2018, 02:45:36 PM

while in the case of the bitcoin no body have information about your wallet.

Exchanges have. Online wallet services have. Basically any service people ever used have.

Quote from: shezu007 on March 08, 2018, 02:45:36 PM

And the coin from Banks or government may have tax in the future while the bitcoin is free of tax.

Bitcoin isn't free of tax. Legally you are obliged to pay tax over your Bitcoin activities, just like how you are obliged to pay tax over stocks or securities. I don't understand why people still believe that you don't have to pay tax over your Bitcoins. Bitcoin is no tax free paradise man, wake up and welcome back in the reality.

Quote from: shezu007 on March 08, 2018, 02:45:36 PM

So I think if any bank or Government introduce the crypto , people will not take interest in that.

People will take interest, because it will either be tied to the national fiat currency (and then people will somewhat be forced to use it), or it will be something that comes with various benefits and perks, just to convince sheeples they are using the right thing. It's a system people have been stuck in for many decades, and this will likely never change. Only a small portion of the world will strive for freedom.

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: BartS on March 08, 2018, 04:17:53 PM

Quote from: Strongball on March 02, 2018, 02:05:48 PM

If things go haywire and no compromise or resolution can
be settled and achieves with the issues concerning cryptocurrencies
everywhere with banks and other types of authorities, they could possibly
and likely resort to that kind of solution. It's possible, they have the resources,
the man power, the technology is available, they have the investors and most of all
the legal authority to pull it off. If that happens it's gonna destabilize the decentralized currencies
out there, a formidable opponent to bitcoins and altcoins in the market. Maybe it will happen or maybe
it won't, we don't really know. We still even have questions on the current digital currencies that is still the
hovering with everyone. It is quite hard to speculate but honestly anything can happen from this point onward.

The development of such currencies will be a difficult opponent to bitcoin but it is not unbeatable, those currencies will be the same as the current fiat except with even more monitoring in place, so the reason of being of bitcoin and many other cryptocurrencies will still exist and when the economy crashes those tokens will crash as well and bitcoin will be free to be adopted by everyone that understands the difference between independent cryptocurrencies and those cryptocurrencies backed by the governments.

It doesn't really have any difference with tradition local fiat currencies which this would really be just an upgrade of it but still its still backed by government and centralized and same as you said this would really be more on monitoring since anything can really be seen on blockchain and telling about disappearance of bitcoin is somehow not possible on this matter in fact people would still always love decentralized things.

Shenzou

sr. member

Activity: 1400

Merit: 283

Quote from: BlackBoxRecords on February 08, 2018, 11:03:54 AM

Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

This is an inevitable thing, and it is bound to happen sooner rather than later, as the cryptocurrencies are slowly making their way into the market and more and more investments being pushed toward this new kind of deal, such as ICOS which have proven to be a popular and a succeful bussines model, it will be no suprise that big companies will start implementing and coming with ideas to get more profit, and i don't think that this will be a bad thing, quite the oppiste because it will make lives much easier and will prove our point as a community that cryptocurrency is more than just investments and profit.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: Strongball on March 02, 2018, 02:05:48 PM

If things go haywire and no compromise or resolution can
be settled and achieves with the issues concerning cryptocurrencies
everywhere with banks and other types of authorities, they could possibly
and likely resort to that kind of solution. It's possible, they have the resources,
the man power, the technology is available, they have the investors and most of all
the legal authority to pull it off. If that happens it's gonna destabilize the decentralized currencies
out there, a formidable opponent to bitcoins and altcoins in the market. Maybe it will happen or maybe
it won't, we don't really know. We still even have questions on the current digital currencies that is still the
hovering with everyone. It is quite hard to speculate but honestly anything can happen from this point onward.

The development of such currencies will be a difficult opponent to bitcoin but it is not unbeatable, those currencies will be the same as the current fiat except with even more monitoring in place, so the reason of being of bitcoin and many other cryptocurrencies will still exist and when the economy crashes those tokens will crash as well and bitcoin will be free to be adopted by everyone that understands the difference between independent cryptocurrencies and those cryptocurrencies backed by the governments.

shezu007

full member

Activity: 336

Merit: 121

private coin from banks or Government mean your information is with other which is bank or government. while in the case of the bitcoin no body have information about your wallet. And the coin from Banks or government may have tax in the future while the bitcoin is free of tax. So I think if any bank or Government introduce the crypto , people will not take interest in that.

Hell-raiser

sr. member

Activity: 462

Merit: 515

Quote from: BlackBoxRecords on February 08, 2018, 11:03:54 AM

Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

I think nothing can or should be done here because there is no need to do anything. Banks as well as other financial corporations are not allowed to create their own fiat money, so we can leave everything to the government. They will take care of the situation if some bank decides to issue their own currency. If I'm not mistaken, some company in Canada already tried something of that nature but was quickly dismissed by the Canadian government. On the other hand, though, we have Ripple which seems to fit your definition of private money quite well.

DesmondHayes

member

Activity: 182

Merit: 14

Quote from: BlackBoxRecords on February 08, 2018, 11:03:54 AM

Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

They can try to do so but I don't think they have so much power to actually do anything in regards to exchanging decentralized currencies to centralized. Decentralized crypto has made to much reputability for the government, banks and investment companies to change that status.

All crypto users are actually independent and they are highly against the government which is well known for their desire to control everything.

Decentralized crypto cannot be controlled by these institutions and that is its greatest power!

CHENIEN

member

Activity: 616

Merit: 11

Decentralized Ascending Auctions on Blockchain

There are many kinds of businesses all over the world, and has also different forms of strategy. All we want to know that all businesses are not totally become successful, there are also business that's failed. And if we see other kinds of businesses today that created by other people and compete into original cryptocurrency, all we need to do are by watching their competition, because we all know that the winner is the better one. And talking about coins from banks and governments, it is sounds likely good, but how about the total satisfactions of the users, can banks and governments coin give that? And if not, their coin would become worthless.

mulukey

member

Activity: 308

Merit: 10

Quote from: GregoryPorter on March 08, 2018, 09:47:17 AM

I think it's inevitable the world is going to head in this direction to be honest. My hope is that bitcoin will become the digital cash of the future that is decentralised. And I'd say this will only happenen if we really get behing bitcoin which is looking less and less likely as time goes by

I also hope bitcoin will become a digital coin for the whole world. At that time, there will be no much difference between the currencies of the countries and everyone can exchange bitcoin everywhere in the world. Bitcoin will change the way people use the currency and manage the financial system.

GregoryPorter

jr. member

Activity: 54

Merit: 3

I think it's inevitable the world is going to head in this direction to be honest. My hope is that bitcoin will become the digital cash of the future that is decentralised. And I'd say this will only happenen if we really get behing bitcoin which is looking less and less likely as time goes by

batang_bitcoin

hero member

Activity: 3080

Merit: 603

They can create their own coin or upgrade and use the blockchain technology. They are business and they know how to play the game of money. There's nothing that we can do to prevent that, it will come later on when things are already set. There are companies now that are interested with blockchain technology that can help them to make their business better and another example is that amazon wants to be our bank, what does it mean? It's either they will create their own token can be use for their service.

charlotte04

full member

Activity: 504

Merit: 102

Quote from: BlackBoxRecords on February 08, 2018, 11:03:54 AM

Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

You don't have anything to do with that if they decided to buy and hold those coins. We just have to live with them and try to do the best to adapt.

cabin

sr. member

Activity: 604

Merit: 250

The only part of coins that the Government can control if peradventure they were able to create their own private coin on the existing Blockchain is that part that is solely projected and created by them. Never can the Government replace the existing Blockchain in avoidance of law breakage..

matuson

sr. member

Activity: 420

Merit: 255

Quote from: tanxingwo1215 on March 08, 2018, 08:55:04 AM

I think after the bank may develop their own digital encryption currency, on the support of digital currency bank is easy to get people to believe that the bank of the ico can raise some money for research and development of block chain!

The bank's digital cryptographic currency is a medium for promoting economic growth.

That's possible. But I am sure that banks can attract only those people who do not believe in the future of cryptocurrencies. Those who know the benefits of crypto-currencies will never be money in the Bank. I don't see prospects for Bank cryptocurrencies. They will be no different from traditional non-cash money.

Topic: Private Coins from banks and governments - page 4. (Read 758 times)