Bitcoin Forum

No it won't. Useful for the people who are in power maybe, but not for the people who use it. This is another trick set upon us by banks to control and manipulate us, and to make us believe that we need them.

In reality we don't. Bitcoin has proven that a community of users can maintain its own ecosystem with a decentralized form of money as its backbone.

They will keep arguing for their central back crypto narrative for the next 10 years, I reckon. Be careful and do not listen.

https://media.coindesk.com/uploads/2017/10/Man.jpg

A senior executive for Goldman Sachs believes that cryptocurrencies - at least those that might one day be created by central banks - could be "incredibly useful."

Sharmin Mossavar-Rahmani, chief investment officer for Goldman's Private Wealth Management unit, spoke with Business Insider in an interview published Tuesday. During the conversation, Rahmani notably remarked that "we think cryptocurrencies in their current format, meaning that in the current incarnation, are in a bubble."

"The bitcoin prices are astronomical. Then we compare that to ether, and ether is even more astronomical," she went on to say. "So clearly, these valuations don't make sense to us."

Yet on the topic of a central bank-backed cryptocurrency, Mossavar-Rahmani struck a more positive tone - even going as far to say that those prospective currencies would be more useful than the coins in existence today.

Read in full https://www.coindesk.com/goldman-sachs-exec-central-bank-cryptos-incredibly-useful/

The idea can be attractive when not being scrutinized. A central issued and backed cryptocurrency can never be decentralized because it can just be another tool which the state can control the financial system and indirectly the people. Soon people will realize this truth. The government should better not try to wade into this arena as it will just be a waste of time for them and a waste of taxpayers' money. They can all regulate the cryptocurrency movement if they want...let's leave at their own discretion without leaving what people might say on the matter. We should realize that in the past many decades there have been many ideas and actions which the government introduced that ultimately resulted into more hardship and pain for the people.

Do you reckon that any government cares if they are wasting tax payers' money or not? They are doing it right now by living lavish lifestyles.

What's worse is the government of 3rd world countries. Their government borrow money from the IMF or the World Bank for infrastructure, but they use that money to party, and then leave the tax payers to pay for the bill.

I'm not surprised I have seen this very same argument by an economist in my country, what they do not see or are incapable to understand since they are paid to not understand is that bitcoin is something different, it may become successful or not but it is an attempt not only to create a new currency but a complete new model about how the economy should work and those in power do not want things to change, why would they want that? They are the winners of the current system.

Central bank cryptos will be an incredible monitoring tool for governments. If they can slowly edge out cash, it will work even better for them. Governments can feel free to loot our money (through negative interests) at their whims and fancies. There is no way I will be touching central bank/government-issued cryptos even with a 10-foot long pole.