Why has crypto failed to break through still? - page 5.

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Quote from: Darker45 on October 21, 2020, 08:40:20 PM

If not the government, then who? Can you imagine the most powerful entity in the entire country turning over the process of money printing to another? That is one huge blunder they would never ever commit. The power which resides in that process alone is immense they would never let it go.

This is what all the economists have been saying for decades, that because all that power is just too much, there is no way they would ever let it go, so the only way is for some workaround (other than blood revolution) which is exactly what Bitcoin is supposed to be!

7788bitcoin

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

Are you telling that you need to rebel against the government and risk going to jail for a very long time Roll Eyes

. The government controls the money and cryptocurrency is not going to make a dent all of a sudden but bitcoin is making inroads and established itself as a major force, even in this market we have major flaws including transaction delays and fees and in a forum we can debate and challenge about status quo but you have to think again, is it possible to change the entire financial structure all of a sudden?.

Wind_FURY

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

It has already made a dent. As said a few times, the genie is out of the bottle, the cat is out of the bag, the Pandora's Box has been opened.

There's nothing the government can do to stop/contain the idea of Bitcoin. That's a dent.

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Quote from: Reid on October 21, 2020, 12:33:35 PM

Doesn't need to dent anything.
An upgrade will be better.
Fiat will remain. If you look at provinces, they need it more daily with a lack of technology.
They can't just take it away.

Make Japan as a good example.
More in digital transactions than cash. But, the cash remains. Right?
Printing money cannot be handled by anyone or any group. Just the government, or else it will be mayhem.

Japan has been using this for a long time and the digital money they use to make fast transactions easier, so it certainly won't damage any commodity, including traditional money.

Crypto will continue to take its current position and take charge of the fiat flow so the government can only control what has been the policy of printing money, I hope the crypto community doesn't break through fiat in a chaotic manner.

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

The circulation amount of fiat money is too huge and crypto total market cap is no where near the fist money.

There is no central body to promote the existence so people has to realize the importance of cryptos by themselves and adopting to the new technology,it may take time but the changes are happening for sure.

davis196

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

I don't understand your first question.I mean,do you want somebody else to control the money printing process?That is a recipe for disaster.I'm not a fan of money printing,but the governments should keep their control over the process of creating new money.
How do you want us to "challenge the status quo"?Do you have any plans about a rebellion,protest or a strike?The "crypto community" isn't that united and it definitely isn't that radical and fanatical. Grin

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

This community has no power regarding actions which are in the hands of the governments. Printing money has nothing to do with the cryptos and this community as a whole. The emergence of cryptos are something to make a change but that won't be as easy as it may seem. There is a process before such thing to occur. And at the end of that process, no assurance still that this would be the "future". Keep in mind the concept of decentralization of cryptos. Knowing that fiat currencies are supported by each of the governments, how come cryptos will just wipe these "papers" in an instant? Digital currencies are now being used through various services, but it is a different case if it is crypto we would like to do so.

Salauddin1994

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Crypto cannot be broken crypto is not in control and no one can manage it is not possible to break it in the case of money printing the government will use fiat currency crypto is still illegal in many countries if crypto becomes legal all over the world the demand for it will more than double. The demand for crypto from fiat currency will increase and banks will replace it there is nothing to fear in crypto it will take a long time to finish.

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?

Because it's only been about a decade. Roll Eyes

Many have lost patience with Bitcoin's supposed failure to "make a dent" over the years......they sold under $10, under $100, under $1K, and so on. Markets are all about patient investors taking money away from impatient investors!

Quote from: stoat on October 21, 2020, 08:08:09 AM

Are we as a community too scared to challenge the status quo?

No. We're voting with our money. That's just about the most powerful statement we can make about the status quo.

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Quote from: Wexnident on October 21, 2020, 09:58:46 PM

You're asking why a collective group with no leader and most are in it for the profits, failed to breakthrough another group that has a clear set of rules, a clear set of hierarchy, and is clearly accepted by the majority of the masses, mostly due to to the power they were asked to hold? The community isn't afraid, just that it's stupid to overthrow the current system we have when our system itself is still flawed and unsuitable for full adoption. Not to mention, how do you think would it impact society if the financial system was suddenly overthrown, not by a group with a central leader, but an overall group? You're basically asking to set us back to the old ages where strength is the rule.

That dependence towards the old and broken system is what makes the old and broken system still running. I have to commend the establishment of this knowing that the perpetuity is fueled by dependence of the masses to the system. OP seems to think that we are not making a dent but I think the gradual and slow adoption of cryptocurrency does its job pretty well, it will be too late to stop it when the time comes.

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You're asking why a collective group with no leader and most are in it for the profits, failed to breakthrough another group that has a clear set of rules, a clear set of hierarchy, and is clearly accepted by the majority of the masses, mostly due to to the power they were asked to hold? The community isn't afraid, just that it's stupid to overthrow the current system we have when our system itself is still flawed and unsuitable for full adoption. Not to mention, how do you think would it impact society if the financial system was suddenly overthrown, not by a group with a central leader, but an overall group? You're basically asking to set us back to the old ages where strength is the rule.

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process?

What kind of question is this lols. You are asking why the government is still in control of the money printing?? Who do you think will have control of it? They are the most powerful people in every country so they can do anything they want to do.

Quote from: stoat on October 21, 2020, 08:08:09 AM

how has cryptocurrency failed to make a dent?

The fact that cryptocurrency isn't regulated at all is one of the reason why it hasn't been used by many people right now. Fiat is still very useful right now and many people are still preferring to use it and it is the only money that they have right now that is acceptable by all of the merchants.

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

Simple, Because we live with rules and laws, Without it, There will be chaos around the world just like what happened during world war. The government is the reason why each country is control and being decentralized means there's no law that needs to be follow in order for these crypto to circulate that's why most people that abiding the law are still clinging on the use of the traditional cash rather than crypto because it has an assurance for its value because government regulating it unlike crypto that nobody/group of individuals are the one in control with your money. So guess what is more convenient?

Darker45

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If not the government, then who? Can you imagine the most powerful entity in the entire country turning over the process of money printing to another? That is one huge blunder they would never ever commit. The power which resides in that process alone is immense they would never let it go.

But that is not just the issue. While the government's role in the creation of money has been constantly questioned and challenged; while it has failed over and over again the people and their trust in them in such role; the question as to who will take care of it if not them is larger than it seems.

Bitcoin does not have business over it. Bitcoin is an alternative. It is enough dent that a lot of people are trusting and using the alternative more than the main currency. That in itself is a challenge to the status quo.

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

We cannot force our government to adopt cryptocurrency and they still have the power to print any amount of fiat money. The good thing is, we as individual, we have the option now to use cryptocurrency and that’s freedom, we did not fail , we are still working out for the mass adoption that is about to begin, keep waiting and stay productive.

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

No other thing on this world would have the rights/power when it comes to money printing.I dont really get it too much when it comes on making out some dents or whatsoever.

For sure fiat or paper money would exist like forever.It might become digital but it would still exist as long government do exist then this thing would always been part.Also,

we crypto community isnt really trying to challenge or something but rather we are having an option for those people who does hate centralization and the rest
will really be just a dream on believing that replacing fiat anytime soon? Making out some arguments will be pointless and would be a long one.

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

Okay so what you are trying to suggest is that we people should storm towards our respective government offices and force them to declare cryptocurrencies as a global currency? Right? You think the economic system is a joke? or were you daydreaming while writing this post? Cryptocurrency is a technology that merely is 10 years old. Trust me it is yet to see the real-world problems. Merely less than 0.1% of the global transactions are carried in cryptocurrencies and you expect the government to stop minting money for it? We are not a community of government lobbying or anarchists. We are a community that spreads awareness regarding the use of bitcoin and meanwhile developing other ways to use bitcoin and cryptocurrencies to solve our daily problems. Moreover considering the size of the world we as a community are pretty small and would have almost negligible effects anywhere. Moreover, implementation is a process. There are millions of issues that need to be resolved before inculcating cryptos in the mainstream system. Stop imagining useless scenarios.

Reid

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Doesn't need to dent anything.
An upgrade will be better.
Fiat will remain. If you look at provinces, they need it more daily with a lack of technology.
They can't just take it away.

Make Japan as a good example.
More in digital transactions than cash. But, the cash remains. Right?
Printing money cannot be handled by anyone or any group. Just the government, or else it will be mayhem.

avikz

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Quote from: stoat on October 21, 2020, 08:08:09 AM

Why are governments still in control of the money printing process?

Who should that be?? Crypto community? Day dreaming is good, it keeps your mind fresh!

Quote

how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

Was cryptocurrency invented to make a dent on the traditional financial system? I don't think so! It was created to become an internet based p2p currency system and bitcoin has long achieved this status! We are not here for a rebellion! I personally am very happy on what cryptocurrency has achieved till date.

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Do you know what you’re talking about? First, the money printing process is already in the hands of the government, and just because bitcoin is digital doesn't mean eradicating the printed money. We would love for Bitcoin to be the most used currency, but i doubt either one will cease to exist. It’s for sure going to be living together, backing each other. The concept of CBDC’s are most likely the application. Don’t get me wrong. I support BTC 100%, but as we progress with the digital currency, most of the Banks want their own, and it’s just a result because of Bitcoin.

I’m not too sure about not making a dent because it has already in some of the financial institutions are already adopting some kind of technology that is relatively near to bitcoin.

By using the cryptocurrency itself, You are already challenging the status quo. So I don’t know what you’re talking about here, but the majority of the members here in the forum are already supporting it, including me.

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