What do Central Banks Do? Among other things, they create money (no exactly print, but they control the money demand)
Would you trust a crypto that is not capped and where the creator (or any entity) can control the total supply? Not me. That is exactly what Bitcoin is going to change for good
Topic: What happens to Bitcoin if Central Banks start issuing their own cryptocurrency? - page 3. (Read 1440 times)
September 18, 2017, 04:33:38 PM
September 18, 2017, 04:12:09 PM
Bitcoin has its own value, no matter if Central Banks start issuing their own cryptocurrency it will be simply cash in form of online money nothing else as it will be controlled by a group of people who can increase and decrease the price according to theirs profit. The biggest difference between these 2 currencies would be that one would be Decentralized that will be Bitcoin and other will be Centralized. So there will be very less effect on Bitcoin.
September 18, 2017, 01:06:46 PM
If the central banks starts to issue their own cryptocurrency then it will not affect bitcoin a lot because people are now smarter and they will use bitcoin more than the central bank's cryptocurrency because bitcoin has a higher potential in profiting because it is decentralized and it is not controllable by the central banks or even the government.
yes, the trust rate and news of the currency will heighten. Since there was no international central currency before now, it will just assume the position. U think Government don't know what it will look like, the only help it bring to government is to have reserve for bitcoin now at a larger quantity so it can be like every other hardfork. 
September 18, 2017, 12:59:54 PM
Even if the banks issue their own crypto currency,i think that it will not get much popular because people would not want once again to deliberately get caught in the hands of banks.Such currency would not be a decentralized currency like bitcoin.It would not gain support globally and in no way,it could replace bitcoin which has been the ultimate choice of investors world wide since it has given them the true financial freedom.Such currency issued by banks may be only bought by people who don't know the true potential of bitcoin.
Banks and governments can force people to use their currency, if they give salaries in their new crypto currency people will need to use it for many things paying and buying. Country with most population will have high demand for this crypto, because many store's, companies, will sell their products for their own crypto currency.
Bitcoin is good because of the story behind it, countries that make their new alt will have alt that have s flag, and bitcoin doesn't have it. Satoshi Nakomato is you and me, that means everyone. Without a flag, origin and religion, anyone can adopt it and to not be nervous because of it. Russians will never adopt dollar, US will never adopt Kuwait dinar, and so on but bitcoin is suitable for all the countries and people in the world.
September 18, 2017, 12:07:28 PM
Even if the banks issue their own crypto currency,i think that it will not get much popular because people would not want once again to deliberately get caught in the hands of banks.Such currency would not be a decentralized currency like bitcoin.It would not gain support globally and in no way,it could replace bitcoin which has been the ultimate choice of investors world wide since it has given them the true financial freedom.Such currency issued by banks may be only bought by people who don't know the true potential of bitcoin.
September 18, 2017, 12:02:39 PM
Posted today on Reuter's wire:
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
It will be beneficial for Bitcoin unless Central Bank launches it as in opposition to Bitcoin or to eradicate the use of Bitcoin from country.
Otherwise the concept of cryptocurrency will automatically ponder the buzz about Bitcoin among the public. Public would like to keep Bitcoin all along with National cryptocurrency because when people compare the two, Bitcoin will be one with more return as the latter one will be more stagnant since it will be regulated one.
Hence it will only lead to prosper Bitcoin.
September 18, 2017, 11:53:51 AM
Nothing will happen to Bitcoin, because banks are already working with virtual currencies using encryption right now. They will never issue a crypto currency, that
a. is confirming transactions completely decentralized
b. people can mine with their computers
c. has a public ledger
d. has a limited amount
e. is open source
f. ...
Means, that everything a bank will issue might even be called "Cryptocurrency", but it will definitely not replace the idea of Bitcoin.
This is so true. If they issue their own cryptocurrency it's gonna be an electronic money (though they already have it) it's not similar to the bitcoin so it will never replace bitcoin. This is a topic that is always discussed in this forum, I personally think that blockchain will be used by the banks in order to make their service cheaper, faster, and more efficient. There are so many considerations that they must think before issuing their own crypto, like they said in that article the risks of issuing crypto could not yet be fully assessed. a. is confirming transactions completely decentralized
b. people can mine with their computers
c. has a public ledger
d. has a limited amount
e. is open source
f. ...
Means, that everything a bank will issue might even be called "Cryptocurrency", but it will definitely not replace the idea of Bitcoin.
September 18, 2017, 10:01:56 AM
Posted today on Reuter's wire:
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
Issuing digital currency on a private blockchain is not much different from legacy systems where the central bank has full control over the money supply. If you have a private blockchain then you have a central authority or at best a group of influential players who can change the rules. Countries cannot win this one.
September 18, 2017, 09:59:12 AM
THAN the scenario will change totally,
every country will have own crypto , That may be effect on bitcoin value.
Bitcoin still has advantage if central banks issue own crypto because bitcoin is decentralized,
every country will have own crypto , That may be effect on bitcoin value.
Bitcoin still has advantage if central banks issue own crypto because bitcoin is decentralized,
September 18, 2017, 09:54:56 AM
Posted today on Reuter's wire:
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
Its just all the same and this news isnt really new anymore which Banks would really issue their own coin but i guess why would they do such thing and would bother to do so? It would be just like on local fiat itself if they would made their own coin and people will really still look up on a decentralized one rather than on a centralized one.They can really stop people on using such thing.http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
they can surely made their own Altcoins and not exactly like another bitcoin, and I think it will not be very competitive just like other Altcoins today but I think people that knows about that bank will surely use it, banks right now have a tendency to control bitcoin but they don't have the power to do so, so instead of controlling or stopping it, they will make their own.
September 18, 2017, 09:26:31 AM
A government backed cryptocurrency might increase the efficiency of a centralized financial system, but is it going to have any impact on Bitcoin? No. The concept behind a centralized cryptocurrency is the same as the concept behind cash, just digitalized tokens of Fiat money. Unlimited supply, same old flawed monetary system, backed by the government, and still prone to hyperinflation.
The ideology behind Bitcoin as a cryptocurrency is a decentralized, apolitical, permissionless, trustless system. It offers an alternative to people who have lost faith in the flawed monetary system. Representing Fiat as cryptocurrency isn't going to change the underlying flaw.
The ideology behind Bitcoin as a cryptocurrency is a decentralized, apolitical, permissionless, trustless system. It offers an alternative to people who have lost faith in the flawed monetary system. Representing Fiat as cryptocurrency isn't going to change the underlying flaw.
September 18, 2017, 08:45:59 AM
Posted today on Reuter's wire:
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
Its just all the same and this news isnt really new anymore which Banks would really issue their own coin but i guess why would they do such thing and would bother to do so? It would be just like on local fiat itself if they would made their own coin and people will really still look up on a decentralized one rather than on a centralized one.They can really stop people on using such thing.http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
they can surely made their own Altcoins and not exactly like another bitcoin, and I think it will not be very competitive just like other Altcoins today but I think people that knows about that bank will surely use it, banks right now have a tendency to control bitcoin but they don't have the power to do so, so instead of controlling or stopping it, they will make their own.
September 18, 2017, 08:37:46 AM
Posted today on Reuter's wire:
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
well they already have digital currency which is faster than bitcoin and other crytocurrencies so, why do they need to create an altcoin? they only want is the blockchain technology which is the public legder of all transactions stored in the blockchain and the reason is they want to track all of the bank transactions. http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
September 18, 2017, 08:30:29 AM
Posted today on Reuter's wire:
http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
Its just all the same and this news isnt really new anymore which Banks would really issue their own coin but i guess why would they do such thing and would bother to do so? It would be just like on local fiat itself if they would made their own coin and people will really still look up on a decentralized one rather than on a centralized one.They can really stop people on using such thing. http://www.kitco.com/news/2017-09-17/Too-Soon-to-Determine-Risks-of-Central-Bank-Issued-Cryptocurrencies-BIS.html
They are thinking about it! Bitcoin has made an inroad, but will it make bankers honest? Or is it just a ploy to regain control of the money supply?
September 18, 2017, 08:28:06 AM
bitcoin will continue to grow, ignoring it. all know at cryptocurrency is currently growing rapidly, taking part of the world's business control.
September 18, 2017, 08:26:51 AM
I would understand why it could get to that instance but i guess its just another economic problem to have a cryptocurrency version of any fiat that is out there. Its like making another money with the same value. They already have electronic money and it would take many years to put there currency in regulation and i think they would also need there own blockchain if they want that currency to have free and fast transactions.
September 18, 2017, 08:23:18 AM
Nothing going to happen with bitcoin because it's the original form of cryptocurrency even it will gain more value for being the trendsetter the oldest thing gain more value.
Yes I agree with you, since Bitcoin is base of all coin so when central bank creating their cryptocurrency it'll become altcoin, their coin can't replace Bitcoin even it's made from central bank 
September 18, 2017, 08:10:55 AM
Yet another premine altcoin 
September 18, 2017, 07:17:39 AM
Nothing going to happen with bitcoin because it's the original form of cryptocurrency even it will gain more value for being the trendsetter the oldest thing gain more value.
September 18, 2017, 06:55:34 AM
Nothing happens.
Banks can do whatever they want, but a cryptocurrency that is regulated, inflationary and centralized is no different or actually worse than FIAT due to the technical limitations that encumber it.
Bitcoin will thrive no matter what.
Banks can do whatever they want, but a cryptocurrency that is regulated, inflationary and centralized is no different or actually worse than FIAT due to the technical limitations that encumber it.
Bitcoin will thrive no matter what.
Jump to: