When we say decentralization of money, it defines as no central authority that will regulate the flow of economy.
At first, it is good to hear about decentralization right? But what if the money will not be controlled by the government? Do you ever think the negative effects that will happen if there is a decentralized money system?
I think these are the reason that may happen when there is no central authority in regulation of money supply,
1. It will cause inflation.
2. Government spending will be nullified.
3. Central banks will not control the circulation of money in the economy.
These events may lead us in economic crisis. Decentralization is not good. Yet, it will help to banks the unbanked family. At the end, it is just in favor with businessmen and other rich people. We need to have a central authority in order for the economy to become stable specially, in a long run.
Topic: Why decentralized money system is needed - page 2. (Read 468 times)
The existing financial system was formed over the years. Even if the way to build a truly decentralized monetary system is found, it will be years before the masses of people accept it and it will spread around the world.
The mass consists of sheeples only, and for that reason are likely to stick with their by government issued money. That's why I believe that Bitcoin and basically any crypto currency is and will be nothing more than an alternative. But it's all fine. If we want, we can use our current cryptos already as money, where it's just a matter of time before we see a more global form of merchant adoption. I can't wait for the day that I don't need to use fiat anymore in my local stores, or even in local bazaars. The only thing we need to conduct peer to peer transactions is our smartphone or tablet, and an internet connection. MasterCard, Visa, PayPal, Skrill, etc, are all useless.... Win for freedom, loss for centralized ecosystems.
The existing financial system was formed over the years. Even if the way to build a truly decentralized monetary system is found, it will be years before the masses of people accept it and it will spread around the world.
Decentralized money system is needed in order to avoid the control of the government upon the currency. Bitcoin is a decentralized currency and no governments can control it unlike other currency. This kind of currency is needed in order that other crypto holders can use it with out tax.
In the banking system, the central figure has a huge influence on our money. Our 1 dollar bill can be useless if they want it to. But in decentralization, the price is influenced by the demand and supply. If it crashes, there's nobody to blame but us, the holders. So people can be greedy, yes, but atleast the whales will be mindful about their greed.
Right, but decentralization has its cons too. For instance, some rich people bought a lot of BTC and can simply manipulate the price, they can even combine together to achieve whatever price they want and then it becomes not so decentralized and the old story begins. But, it might be even worse, because, unlike the govs, who at least try to treat people nicely and make a good showing, those people with BTC won't give a shit. And we can feel it happening right now. So greediness must be crushed. 
At first i was agreed with your opinion about decentralization because with that the market manipulation isn't done by government and regulation anymore but by the people. However without that kind of power, the government also means nothing since they control the price of the currency and doing foreign trade with economic law which also include manipulation of our own currency whether doing it by tax or interest rates. Then i read about you saying this:
When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
And this is why the money will never be centralized because anyone with enough powerful money and influence could do anything and therefore government is needed to uphold a law to ensure that power doesn't go out of control, you said it yourselves that you could do anything with that either to raise it or ruin it.Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
First of all we need to have a decentralized money system for all our good. The money system now is backed by government and they have the control or the power on it. If you will going to understand and watch some youtube videos you will see that how government is fooling us and make advantage in everything in by the use of money. For this reasons thats why Satoshi created bitcoins which is against to the government on the way how they control the money.
So something like the dollar with such a huge power, why would it need to be under control?
Because there is such science that called Economics. It describes different aspects of the monetary policies of the government. Luckily those stupid people in the US government follow this established science. If you need to understand their logic and find an answer to your question then try to read some books. No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.
Sure. If you want to ruin the world economy asap. Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency.
Comrade! It sounds like you are advicing to establish a crypto cummunism lol.When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Hmm. And why the US government did not deflate the USD to make it worth 100 EUR? For some reason everything works fine.Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Sorry. That's one of the funniest things on this board. I just can't take it serious. You literally describing how US can get back to the stone age.
Everything isn't that fine, trillions of debts, people can't afford most of the things and the basic things like an apartment.
A huge inflation and we saw what happened in 2008, a dollar 50 years ago was valued at much more than what it is right now and it keeps going.
Only natural money growth and produce such as Bitcoin can hold a decentralization healthy economic system forever.
Inflation. Ok, compare the US economy today and 50 yrs before and you will probably find some changes. In the US the inflation is pretty healthy. Also inflation helps to boost the economy of the country. You are offering to replace it with a deflation of bitcoin (that will kill the economy fast af) and call it a "healthy economic system". Well, I already said on the forst post about what kind of books you should read.
I think we can not compare between centralized and decentralized systems because each system has its deficiencies and advantages. But of all the flaws and strengths I think the role of the government is being neutral to optimize its advantages, rather than the shortcomings that must be resolved and well covered without meaning that is so important with regard to the purpose of economic progress of a country.
I agree that decentralization is important in order to achieve independence, but there is one catch. People are different and mostly people are greedy, truly, they don't want to be equal. People say that equality is important, when they're not superior and feel oppression. When everyone becomes equal, but there's no control of it - such a situation generates greediness, emulation and, eventually, chaos. Only when people learn to be peaceful genuine decentralization may be achieved.
I agree to some point. But the world cannot eliminate greed, let alone chaos. This is a utopia you are dreaming and it is impossible at the state of the world right now. The world cannot sit around and wait for the world change in order to achieve genuine decentralization. At least, in bitcoin, it offers a glimmer of hope that people can become equal and independent in a financial sense - a utopian vision. Bitcoin is what we have now and all we are able to do is to take advantage of what it can offer.
In the banking system, the central figure has a huge influence on our money. Our 1 dollar bill can be useless if they want it to. But in decentralization, the price is influenced by the demand and supply. If it crashes, there's nobody to blame but us, the holders. So people can be greedy, yes, but atleast the whales will be mindful about their greed.
I agree that decentralization is important in order to achieve independence, but there is one catch. People are different and mostly people are greedy, truly, they don't want to be equal. People say that equality is important, when they're not superior and feel oppression. When everyone becomes equal, but there's no control of it - such a situation generates greediness, emulation and, eventually, chaos. Only when people learn to be peaceful genuine decentralization may be achieved.
The payment platform based on blockchain technology is increasingly being adopted by the financial services industry and will become the next payment platform to take over the bank transaction.
"Blockchain" democratization, anyone can benefit from immediate, transparent and cost-effective transactions, regardless of where they live, education levels.
Unlike Banks, Banks could be hacked or robbed because of the central storage of data or assets. In contrast, the block-based platform is almost impossible to penetrate because it requires access to every computer system on the network at the same time to be successful.
Understanding the potential of the blockchain technology, more than 40 Banks around the world are investing a lot of time and assets to integrate this technology into their systems.
"Blockchain" democratization, anyone can benefit from immediate, transparent and cost-effective transactions, regardless of where they live, education levels.
Unlike Banks, Banks could be hacked or robbed because of the central storage of data or assets. In contrast, the block-based platform is almost impossible to penetrate because it requires access to every computer system on the network at the same time to be successful.
Understanding the potential of the blockchain technology, more than 40 Banks around the world are investing a lot of time and assets to integrate this technology into their systems.
Decentralization. Once there's decentralization, no one has ownership of the currency. No one can control and ruin millions of people's lives. That's why it's so important.
There will always be countries like China who ban cryptocurrency and put people in jail (with the threat of execution) if disobey.
We're never going to get a completely decentralised world because govts willing to hurt their citizens through violence will always exist.
We live in a word with over seven billion population. There are so many people that you can't even imagine. So many different cultures, countries, rules and appraoches. Eventually, we are all human and living by a money system where you work for something and this something most of the time called money and with money, you can trade whatever you are looking for if it's food, clothes or anything that basically exist. By that, money is playing a huge role in our world. There are trillions of dollars, unbelievable amount of debts. But I went too far, let's go to your country. Let's say the USA, there are hundreds of millions of people who use the currency called dollar every single day to live. They work for it, they pay with it, they can't live without this. So something like the dollar with such a huge power, why would it need to be under control? With this thing, you can kill, change and build empires. No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.
Decentralization. Once there's decentralization, no one has ownership of the currency. No one can control and ruin millions of people's lives. That's why it's so important. Money? isn't owned by a single person, corporation, bank or anything like that. Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency. It's like air, we all need it and we all have it some of them less and some of them are but we are all equal, no hierarchy. This decentralization gives equal rights to everyone. We, the average person bring power to banks and governments that they don't need to have. We need to pay taxes, but no one should get the power of controlling the money supply. No one obviously also should have the power to delete a debt. The money system, the supply should belong to every human on this earth. Centralization is the killer of equality. When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Of course, at those moments we don't have pure decentralization, but that's should be our vision. That's should be what we are aiming for.
Becuase if you want to have a healthy money system with a pure kind you need a decentralization.
I would like to hear your opinions on this topic.
Decentralization. Once there's decentralization, no one has ownership of the currency. No one can control and ruin millions of people's lives. That's why it's so important. Money? isn't owned by a single person, corporation, bank or anything like that. Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency. It's like air, we all need it and we all have it some of them less and some of them are but we are all equal, no hierarchy. This decentralization gives equal rights to everyone. We, the average person bring power to banks and governments that they don't need to have. We need to pay taxes, but no one should get the power of controlling the money supply. No one obviously also should have the power to delete a debt. The money system, the supply should belong to every human on this earth. Centralization is the killer of equality. When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Of course, at those moments we don't have pure decentralization, but that's should be our vision. That's should be what we are aiming for.
Becuase if you want to have a healthy money system with a pure kind you need a decentralization.
I would like to hear your opinions on this topic.
One thing is for sure,money is today the main driver of the world and all civilization depends on money.If you have more money you have more power and influence on people and things that are happening around you.So those who are rich and powerful actually shape the world according to their wants.In order to do that they must control everything,and they do that by control money.How much you will get pay for your work,what is the price of bread and milk,how much is the tax,everything is controlled and centralized.This is the way the system works,you have to accept it or you can go to some isolated part of the country and try to live by your own rules.
Decentralization of money is something which does not fit in any way in the present way of life which was built for a long time from powerful organizations and individual families.It undermines the very essence of control they have today,and even the bigger controls they want to impose to the world.Let's just take the example of terrorism which is used to drastically restrict human freedoms and privacy-but no one asks how it came to terrorism,it is just the outcome and the result of very bad political and military actions, and many will agree they are been made with very clear intentions.The old saying says: Divide and conquer.
Something like BTC does not fit the vision of most of today's power elites,whether they are politicians or business people.The idea of money that can not be controlled is something like the end of their way of life.People need to know that there is a choice,I can send and receive money first time in history and some fat bankers and corrupt politicians can only imagine to get % from that.
I completely agree with the need for decentralization. Governments call for decentralization in their own country, usually related to the services they offered. In my country most services were held in the capital, and now the want to make them available all over the country. They are still owned by the government, but they are ruled by decentralized entities, in each town.
I know that this is different, but it proves the point that decentralization is important to make services more efficient and fair. I think it's the same thing about money. It can't be controlled by banks. and it shouldn't be tied to governments as well, because when they crash, there goes the value of that coin as well.
This is not fair for the citizens that own the coin, and need it to live. A decentralized monetary system, is more efficient and fair.
I do believe in paying taxes, defending decentralization is not the same as defending chaos, but people should be in control of their own money.
I know that this is different, but it proves the point that decentralization is important to make services more efficient and fair. I think it's the same thing about money. It can't be controlled by banks. and it shouldn't be tied to governments as well, because when they crash, there goes the value of that coin as well.
This is not fair for the citizens that own the coin, and need it to live. A decentralized monetary system, is more efficient and fair.
I do believe in paying taxes, defending decentralization is not the same as defending chaos, but people should be in control of their own money.
This system was created and necessary in order that all transactions in network were transparent and in too time anonymous for users. Payments are visible to all users of network, in it and the main idea consists. There is no management, everything is decentralized. There is a lot of advantages, before the centralized systems.
Decentralization does not necessarily mean no one owns it. It only means that we all own a part of it. Control will be constantly up for grabs but that doesnt mean it's impossible to fully gain control. I get the rationality and the heart of not letting a single person own 1% of the currency, but the truth is, that's socialism. And we all know socialism doesnt work. Capitalism is not perfect as it creates a huge division between the poor and the wealthy but it's the only system that works for now. Bitcoin alone wont change that. What it could change is the distribution of power between the banks and the people. As we take power from the banks, hopefully they would stop being "too big too fail" and they would start making good decisions knowing that the government will no longer bail them out.
We shouldn’t have to rely on banks to hold our money. We should have control over where we store it and how we use it and what method we use to pay for things or transfer money.
I have no problem with using US dollars, but I would have a problem if I lived in a country with high inflation. Another benefit to a decentralized currency is that it has no nationality and there is no conversion needed from one country to another.
I have no problem with using US dollars, but I would have a problem if I lived in a country with high inflation. Another benefit to a decentralized currency is that it has no nationality and there is no conversion needed from one country to another.
There is always AN authority, a third party, necessary for economic transactions, but in the decentralized system it is the algorithm and the stakeholders who are arbiters. The change is subtle, but profound. Nonetheless, there is always a framework through which a monetary system can exist.
So something like the dollar with such a huge power, why would it need to be under control?
Because there is such science that called Economics. It describes different aspects of the monetary policies of the government. Luckily those stupid people in the US government follow this established science. If you need to understand their logic and find an answer to your question then try to read some books. No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.
Sure. If you want to ruin the world economy asap. Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency.
Comrade! It sounds like you are advicing to establish a crypto cummunism lol.When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Hmm. And why the US government did not deflate the USD to make it worth 100 EUR? For some reason everything works fine.Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Sorry. That's one of the funniest things on this board. I just can't take it serious. You literally describing how US can get back to the stone age.
Everything isn't that fine, trillions of debts, people can't afford most of the things and the basic things like an apartment.
A huge inflation and we saw what happened in 2008, a dollar 50 years ago was valued at much more than what it is right now and it keeps going.
Only natural money growth and produce such as Bitcoin can hold a decentralization healthy economic system forever.
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