Topic: Will Digital currency of Banks can replace the Bitcoin? What is your opinion? - page 2. (Read 693 times)
January 26, 2020, 01:17:02 PM
No, blockchain technology built by central banks is centralized and there is still full control. You might know why someone prefers to be free, secure, and privacy maintained. bitcoin and alt are currently resistant to censorship, safe and decentralized. that is, we can call it an asset, day after day, fluctuating prices continue to surge. one of the reasons is that for the past 10 years the community has been very large, and it is not possible to just let it die.
January 26, 2020, 11:51:09 AM
The digital currency of banks can make the crypto currency more popular than it is currently, but i dont think it will replace bitcoin as this is the root of cryptocurrency, but you can not say anything fr sure unless the time comes
January 26, 2020, 11:46:05 AM
At present, no bank cryptocurrency has been created, so we still cannot confirm anything in this market. But most likely it will never replace bitcoin because bitcoin is decentralized. Besides Bitcoin is the first cryptocurrency of this market and certainly no one can overcome it
January 26, 2020, 11:41:34 AM
Will not replace crypto, the banks try only to make new ways to have faster bank transfer probably to be fast as crypto transfer, but crypto will still exist even if banks make their own crypto currency who is backed by fiat money.
Banks can and will surely launch crypto currencies against bitcoin but since they would be centralized so they cannot attract people as bitcoin does. People will still put bitcoin on priority even if they are using bank currencies. The only reason banks can go for launching their own crypto currencies will be that they want faster international transactions. Otherwise as an investment, bank currency cannot flourish. 
January 25, 2020, 11:49:05 AM
Everyone know that the future of economy of the world is connected with digital currency, So the Banks are issuing their own digital currencies and this trend is increasing day by day. Will Digital currency of Banks can replace the Bitcoin? What do you think about it? Share your opinions
As long it's centralized and it will need our identity to make a transaction i'm sure it won't replace bitcoin, because people are using bitcoin for anonymousity even the security is not really safe but people still use it for silent transaction and that's the core reason why people use bitcoin beside for trading to make profits
January 25, 2020, 11:47:12 AM
So the Banks are issuing their own digital currencies and this trend is increasing day by day. Will Digital currency of Banks can replace the Bitcoin? What do you think about it? Share your opinions
That's gonna be a "Hard No" from me, Dawg.
First of all, the currency banks use is already digital. Most transactions in the world are digital. How often do use paper currency?
Second, banks creating currency to be verified over the blockchain is a great idea for them to prevent fraud, and it is not at all a "cryptocurrency"...it's fiat currency being transacted over a blockchain. The money supply isn't finite, the banks get more visibility into how each person is spending their money. There will be know "adoption from the market".
Don't get me wrong, banks and government SHOULD put their transaction system onto the blockchain because it would drastically speed up our payments to and from each other...but any talk of a 'new currency' is just clever marketing.
January 25, 2020, 11:41:27 AM
Everyone know that the future of economy of the world is connected with digital currency, So the Banks are issuing their own digital currencies and this trend is increasing day by day. Will Digital currency of Banks can replace the Bitcoin? What do you think about it? Share your opinions
So the question now is, does the bank's digital currency have advantages like bitcoin? Remember, that bitcoin is as popular as it is now because of its decentralization, the freedom of holding finances. Yeah, I think the bank doesn't have it and it's impossible to apply, people who are fed up with the bank will remain on the side of bitcoin because bitcoin is not regulated by anything, there are no taxes, etc.
January 25, 2020, 11:25:26 AM
no bank-made digital currency can replace bitcoin. altcoin which has sophisticated and decentralized technology can not replace bitcoin. especially digital banks that are centralized and do not yet have a community. it is impossible to beat bitcoin. I think that until the end Bitcoin will remain the king of cryptocurrency.
January 25, 2020, 11:10:31 AM
Everyone know that the future of economy of the world is connected with digital currency, So the Banks are issuing their own digital currencies and this trend is increasing day by day. Will Digital currency of Banks can replace the Bitcoin? What do you think about it? Share your opinions
For now, there's no digital currency will replace Bitcoin besides, as far as I know, Fiat money is already been in the form of digital currency and seemingly it cannot replace Bitcoin. There are things that new digital currency doesn't have unlike Bitcoin and the rest of cryptocurrencies which are the volatility rate and being decentralized. What people make fond of crypto the volatility which is likely better in investment and trading. However, if they got make it volatile then they will probably have a little chance. 
January 25, 2020, 11:00:53 AM
no bank-made digital currency can replace bitcoin. altcoin which has sophisticated and decentralized technology can not replace bitcoin. especially digital banks that are centralized and do not yet have a community. it is impossible to beat bitcoin. I think that until the end Bitcoin will remain the king of cryptocurrency.
January 25, 2020, 10:49:23 AM
No it won't. Let us not forget that any bank digital currency will apply specifically to the locale its made for. For instance a Chinese digital bank currency cannot be used in the UK banks or other cou tries banks and as such it won't be able to replace Bitcoin which has a global impact in finance.
Yes, a bank's digital currency will not be able to replace bitcoin, even though the path is equally digital, but between the currency of the bank and bitcoin has a different value and trust in society. January 25, 2020, 10:45:39 AM
No. Even if different banks will create their own digital currency, will you change from Bitcoin to that centralized digital currency? Because if not, then it's not a problem. If people choose to remain with Bitcoin even if there is a lot of bank issuing their own digital currency, it can't replace Bitcoin as long as we remain with Bitcoin. It's our own choice what to choose. If they aren't prohibiting Bitcoin, they can't replace bitcoin.
January 25, 2020, 10:40:20 AM
I doubt it would change anything really, I am both using a digital bank and even tho it doesn't have its own digital currency, it literally is just a purely digital bank, so there is no money in any vault that you can go draw, there are just ATM's if you want to withdraw and even that is usually from other banks. So long story short there is really no need to worry about what you will do or you can do about the impending improvements of banking sector. Bitcoin doesn't care about what the nations or governments or even companies are willing to do against bitcoin because in reality bitcoin is simply better due to being decentralized and not being under control of one place or person.
January 25, 2020, 10:34:20 AM
Everyone know that the future of economy of the world is connected with digital currency, So the Banks are issuing their own digital currencies and this trend is increasing day by day. Will Digital currency of Banks can replace the Bitcoin? What do you think about it? Share your opinions
Why would they replace it? Centralized digital currencies aren't a new thing. They are build on completely different fundamentals. Power of Bitcoin comes from the decentralization and the permissionless transactions it has because of it.
January 25, 2020, 10:29:45 AM
it's too early to talk about comparing or beating. they are different, bitcoin is decentralized, while the bank's digital currency is centralized. both of them may have the same function, but still in their respective versions. at this time, let them provide benefits to each user.
January 25, 2020, 10:16:41 AM
I don't think so. Banks create their digital currency because of they want to have currency in the cryptocurrency. And because they cannot control bitcoin or altcoin, they create a digital currency in which they can take full control of their currency. Maybe their currency will be more stable than the bitcoin or altcoin, but the price is not moving too high or too low compared to the bitcoin and altcoin. Although the banks can create their currency, it won't affect too much with bitcoin because bitcoin will still be the leader of the cryptocurrency.
January 25, 2020, 10:04:43 AM
Will not replace crypto, the banks try only to make new ways to have faster bank transfer probably to be fast as crypto transfer, but crypto will still exist even if banks make their own crypto currency who is backed by fiat money.
January 25, 2020, 10:04:26 AM
In most of the countries digital growth is under progress, but this doesn't talk anything about cryptocurrency usage. The importance is being provided for cashless transactions. In particular credit/debit card transactions as well as cash transactions in the form of digital cash is being promoted. Use and promotion for cryptocurrency usage was in its very early stage, upon which replacement of banking system with bitcoin isn't possible for now.
January 25, 2020, 10:00:15 AM
in this industry it will be difficult to replace bitcoin in its position and usefulness, it is possible that local people will use a lot of platforms from banks but for crypto users it would be better to use bitcoin and will remain the main coin.
January 25, 2020, 10:00:08 AM
in terms of usage, I think it can. because digital currency from banks is likely to be equalized by fiat, so the price will adjust to the fiat exchange rate. and for real use cases, maybe digital currency banks will be more widely used. but in terms of investment, I think bitcoin will still be number one.
The usage of digitalized fiat currency and the cryptocurrency can be different so it will be hard to compare both of them but i agree that in terms of using it in your daily life digital currency in banks can be more convenient than crypto for we don't know if the stores we go will accept cryptocurrency so in terms of usage fiat still dominates crypto but like what you have said when you want to invest then go for bitcoin. So my conclusion is it's still Digitalized fiat/ Digital currency from banks will still sits at the top for some time until most of people can habe their own devices Jump to: