What Christine Lagarde's position on digital currencies says about their future

cynical

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Quote from: avikz on November 15, 2018, 02:16:01 PM

Quote from: JealousCup on November 14, 2018, 04:50:14 PM

In a turn of events, the head of the IMF is now advocating that states across the world should consider issuing digital currencies. Let's not forget that at some point, the institution was a bit wary of the rise of crypto-currencies, so... why are they now switching their position?

Please understand the meaning of the statement made by IMF chief. She was advocating countries and states to issue their own virtual currencies. It has nothing to do with cryptocurrency adoption. She is suggesting to adopt the technology of virtual currency and create own VCs. These cuurrencies will be strictly centralized and controlled by the central banks. Nothing for us to cheer!

Yes they call it crypto, but not our crypto, more like fiatcrypto or digitalfiat.
They aint gonna adopt or issue bitcoin or litecoin or whatever other crypto on coinmarketcap you like.

JealousCup

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Quote from: wxa7115 on November 15, 2018, 12:46:47 PM

They are not switching their position, the keyword here is issuing, which means that she is advocating for countries to create their own cryptocurrencies and this is something that people in the forum have speculated for quite some time, governments cannot leave the door open for decentralized cryptocurrencies to dominate the market, since they cannot destroy them they are going to create competition, even if we know that competition is fake because they will never create something like a decentralized currency.

At least they're going to deceive enough people and are going to slow down the adoption of the real cryptocurrencies and this could give them time to try to develop a solution to the huge problem that decentralized cryptocurrencies could become in the future.

I think the issue lies with regulating who can emit crypto-currencies in order to protect users but decentralized currencies would do more good than harm if globally adopted, especially in terms of currency parity.

Sama517

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Quote from: avikz on November 15, 2018, 02:16:01 PM

Quote from: JealousCup on November 14, 2018, 04:50:14 PM

In a turn of events, the head of the IMF is now advocating that states across the world should consider issuing digital currencies. Let's not forget that at some point, the institution was a bit wary of the rise of crypto-currencies, so... why are they now switching their position?

Please understand the meaning of the statement made by IMF chief. She was advocating countries and states to issue their own virtual currencies. It has nothing to do with cryptocurrency adoption. She is suggesting to adopt the technology of virtual currency and create own VCs. These cuurrencies will be strictly centralized and controlled by the central banks. Nothing for us to cheer!

I think she doesn't want to be explicit in her advocacy for cryptocurrency. If she actually supports countries to create their own digital currencies, I can bet with you that she is probably also giving a positive nod for cryptocurrency adoption. She doesn't want to say it directly due to her postion as the IMF chief.

avikz

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Quote from: JealousCup on November 14, 2018, 04:50:14 PM

In a turn of events, the head of the IMF is now advocating that states across the world should consider issuing digital currencies. Let's not forget that at some point, the institution was a bit wary of the rise of crypto-currencies, so... why are they now switching their position?

Please understand the meaning of the statement made by IMF chief. She was advocating countries and states to issue their own virtual currencies. It has nothing to do with cryptocurrency adoption. She is suggesting to adopt the technology of virtual currency and create own VCs. These cuurrencies will be strictly centralized and controlled by the central banks. Nothing for us to cheer!

wxa7115

hero member

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Bitcoin is GOD

Quote from: JealousCup on November 14, 2018, 04:50:14 PM

In a turn of events, the head of the IMF is now advocating that states across the world should consider issuing digital currencies. Let's not forget that at some point, the institution was a bit wary of the rise of crypto-currencies, so... why are they now switching their position?

They are not switching their position, the keyword here is issuing, which means that she is advocating for countries to create their own cryptocurrencies and this is something that people in the forum have speculated for quite some time, governments cannot leave the door open for decentralized cryptocurrencies to dominate the market, since they cannot destroy them they are going to create competition, even if we know that competition is fake because they will never create something like a decentralized currency.

At least they're going to deceive enough people and are going to slow down the adoption of the real cryptocurrencies and this could give them time to try to develop a solution to the huge problem that decentralized cryptocurrencies could become in the future.

JealousCup

newbie

Activity: 28

Merit: 1

In a turn of events, the head of the IMF is now advocating that states across the world should consider issuing digital currencies. Let's not forget that at some point, the institution was a bit wary of the rise of crypto-currencies, so... why are they now switching their position?

Topic: What Christine Lagarde's position on digital currencies says about their future (Read 166 times)