Topic: What happens to Bitcoin if Central Banks start issuing their own cryptocurrency? - page 2. (Read 1440 times)

That would be the surge of btc, and for bank having their own crytocurruncies they will having some way of any possible problem to implement it on the people out side the world

The old institutions are outdated and where they might have served to benefit civilizations in the past, their power has waned to the point that they must focus only on self preservation and this is only to the detriment of civilization. populations are unable to percieve this because our worldviews are carefully narrowed by our own processes of personal growth within a complex and frightening real world that would paralyse us with fear and indecision.

Governments are completely under the control of banking cartels. and the media, academic cartels head up our pantheon of exalted gods who thrive in harmonious cooperation because of their shared strategic interests.

The fiat coin will be called cryptocurrency and the belief will be reinforced by powerful propaganda campaigns that permeate all areas of life.The adoption by merchants will be compulsory, usage convenient, and incentive campaigns will abound.

Misinformation about the nature of cryptocurrency will be encouraged because it makes it difficult for the ignorant to differentiate between the false crypto and the real.
It will also cause the ignorant to make more mistakes and take greater losses and this effect is desired because it will hurt the image of bitcoin.

In their hubris the intelligence community will continue to hoard security exploits and leak them to criminals who can then terrorize the vulnerable public.
Many will flee into the arms of authority.

But cybersecurity is much more difficult for the centralized systems. and serious incidents will spur people to educate themselves and one another.
The vulnerable human persons who operate even from within the great and terrible organizations will feel the cooling of the fires of fiat privilege by the incentive of real cryptocurrency ecosystems.
Finally, the coming of new generations will continue to place greater and greater disruptive pressures on the outdated institutions as they age and begin to crumble.
Every glimpse of truth helps us find our way to wend closer to the path of reality and allows life to continue to stave off extinction.

This is happening and the rates of what happens and to what degree and when they do are not yet written.

We got to know that just if bitcoin can increase its value all the more so does our chances to mitigate a cataclysmic transition into the future.

Nothing will happen if they just start their cryptos.
The scenarios depend on a lot of facts and most important on the laws that will be passed.

Let's assume that once the crypto is launched the government of Angola decided to ban all other cryptos.
Probably the effect on the ban will be 0 as well as the launch of the coin cause everybody is so damn poor they don't have BTC in the first place.

Now, let's say the one that does this move will be the US government.
You can expect the price of BTC to plunge to the levels of the Silk Road shut down.

It doesn't matter what currency they would issue and how they will do this, what is most important would be thier attitude to BTC afterwards.
And allow me to be a little pessimistic about his. Especially if we talk about China, Russia and the other countries with same politics.

We and also bitcoins need to adapt to economic civilization, if bitcoin develops unreasonably, it will destroy all the economic and sovereign structures of the world. The government needs to set the conversion center into their currency, it will not be problematic with bitcoin because this is just a way to prevent inflation in Fiat.

I think it will be more suitable for the prevailing of bitcoin all over the world. If the banks start trading and dealing in their own crypto currency then the trust of the people will build up very quickly over the digital currency, and the market cap and the value of bitcoin will rise in days. I think there is nothing to be panic that if the central banks have started bitcoin then what will happen. Nothing will happen.

There are a few possibilities. National and private cryptocurrencies can bring more attention to decentralized cryptocurrencies and serve as gateway for them. They can also help fight a myth that cryptocurrencies are bubble and ponzi scheme, because the launch of national cryptocurrencies would mean that the technology is sound. But there's also a possibility that national cryptocurrencies would be very centralized and have very few things in common with decentralized cryptocurrencies, and their proponents might use it to criticize the last ones. And right now it's not clear what effect will be more noticeable.

although central bank has their own cryptocurrency, I don't think it will influence the bitcoin or even replace it. There is nothing happen with bitcoin because it is the first cryptocurrency and the origin. Nothing to be worried. Bitcoin will continue to grow, it is just tricks and controls of business.

It's quite understandable. How would you feel when something threatens the existence of your entire system? Governments are just trying to offer people an alternative, but they fail to understand that people no longer invest in crypto just because they are going up and down in value badly, or use it as digital currency, but also to escape from their barbaric governmental system. It's called financial freedom that people are after. At a later point when things become even more serious than is the case right now, the governments will slowly start to notice that change. Governments are very slow in catching up with things, regardless of what they are trying to get hold of.

They probably should ask themselves what is attracting so many to Bitcoin/cryptocurrency.
If they can identify and provide a better solution I bet nobody will be interested in Bitcoin. So can these elites aka government issued Cryptocurrencies offer 100% Privacy, Anonymity, true Decentralization and anti-inflation which Bitcoin currently offers.

Really funny how rival countries are seriously scheming everyday to bring down a Single Coin.

Am silent on the attack because their every moves  tend to push Bitcoin really high eventually.

Nothing will happen, it will be one more cryptocurrency in the market. The main idea of cryptocurrency is its descentralization, so If you have a Central Bank issuing their own cryptocurrency, be sure that this isnt good. The whole idea of a Bank controlling cryptocurrency is unacceptable. History has shown us that Banks controlling fiat currency already is dangerous for people and with cryptos that wouldn't be any different. Since Bitcoin has became popular, they try in everyway have even a minimum control of cryptocoins and everyday we watch news of banks being related to cryptocurrency. Today I saw an article saying that the Barclays Bank, Credit Suisse, CIBC (Canadian Imperial Bank of Commerce),  HSBC, MUFG (Mitsubishi UFJ Financial Group) e State Street have joined forces to work on the so-called "single settlement currency" created by the Union Bank of Switzerland (UBS) to make financial markets more efficient. This single settlement currency aims to enable financial groups to pay for transactions between them or to buy securities and stocks without having to wait for traditional transfers to be completed. Now they want to work with central Banks from all around the world, but for me that just won't work!

Nothing new here, every country is planning to create their own crypto, the idea is to gained control of the transaction and taxed the users, everyone already know the government trick, the country just creating another alt coin and not  a lot people like this idea and not a lot of people  will interested

Nothing! Btc is to strong nowadays.

A crypto currency distributed by a central bank, I don't see how that wold be any different that the local fiat.
Maybe because crypro currencies get more popular every day the central banks thought they want to participate and bring something similar on the market.
But I don't see who would want to buy a state controlled crypto currency.

yeah when they really making their own cryptocurrency it will break the tag line of bitcoin (and other cryptocurrency) about "decentralized currency" central bank will control all about their up coming alternative coin which they going to make. we don't see decentralized aspects  coin anymore of their coin.

i think that in someday if the banks finished to learn bitcoin, they will make their own coins/tokens. if this is happen then people have more option to invest their money. if they want to use full decentralize then they can choose with the existing coins, but if they want to use centralized then they can use the coins from the banks. and now we can see that many companies is interesting with the blockchain technology and they are released their own coins like above me said.

I doubt that banks will make such thing. But if ever they create their own coins/tokens, I think bitcoin won't be affected that much. Bitcoin, for me, will remain as the best and most reliable cryptocurrency. Also, you can see that a lot of new companies today have created their tokens (most of these are ethereum-based), but only a few (or little) has been successful.

This is actually old news. We've been hearing about this for years. One of the key points of Bitcoin is the trust the community has in it. While we distrust central banks. Them issuing a crypto currency is not going to make us suddenly trust them.

It will only mean one thing, they surrendered to bitcoin and accepted bitcoin, as the saying goes, if you cannot beat them join them. If central.banks started to issue their own cryptocurrency, the question is how much is it going to worth, since they are also listed in yhe stock market, they can say, it may be priced as the their price in the stock market, but are people.be wlling enough to use their cryptocurrency, if there are other banks that arr much known and has a lot of branches, which fiat will they choose as equivalent to their ctptocurrency. I think banks will really need to to think twice reagarding the creation of their own cryptocurrency, and there is also another thing that they will have to face, if they can make their oen cryptocurrency, so does other companies that has a value than them, so why would people try to invest on them if there is something better. What insee here is, if this happen, bitcoin's price will skyrocket, because if these banks will have cryptocurrency, it will only mean, that they will need to follow bitcoin, and for sure fiat by then is alrrady obsolete and bitcoin will be the standard, it is possible that 1xcoin from the bank will equivalen 1000 satoshis, that's how i see it, since it had happened before with gold, silver and copper, gold still valued high, though a lot are already using silver.

Altcoin is better than whatever they intend to create. It would be the perfect definition of what some forum members call s*** coin.
They seem not to get it. It is over for centralization, abuse of powers, opaque governance,  extreme Corruption, extreme poverty, currency manipulation, fascism, elitism, domination, lack of respect for fellow citizens, lawlessness, etc..
 IT IS complete waste of time to resist change whose time has come.

Central banks can't manage fiat currencies so I don't see them being successful managing a cryptocurrency, even with the help of the law.
Also, many people invested in BTC for the very precise that it has no link to any central bank.

Does anyone think the Federal Reserve or the European Central Bank, so good at quantitative easing (printing money), can be good at managing a cryptocurrency?