Bitcoin Forum

Economy => Economics => Topic started by: BlackBoxRecords on February 08, 2018, 03:03:54 PM



Title: Private Coins from banks and governments
Post by: BlackBoxRecords on February 08, 2018, 03:03:54 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?


Title: Re: Private Coins from banks and governments
Post by: Harlot on February 08, 2018, 03:16:48 PM
Governments can have a shot at it. But other firms or businesses will not because I don't think it is in their legal right to create their own kind of currency, I mean look at other payment methods out their they are always based from the Fiat Currency, you won't see something like "Paypal Gold" as it would be illegal to do so. Also if governments will have their own cryptocurrency, I don't think it would succeed on replacing something not unless they replace their own fiat currency with it. Because some might say that decentralization is one of their main priorities in looking for some cryptocurrency and obviously government controlled ones won't have it.


Title: Re: Private Coins from banks and governments
Post by: Arngrim on February 08, 2018, 03:24:00 PM
They will always need to rely with the USD only.
If they don't want FBI or CIA eyeing them.

Creation of a new currency just means they are trying to break a law already.
Another will be negativity with investors. We all know that many people are still in disapprove with all this crypto currencies specially bitcoin. It would make a big problem for them.


Title: Re: Private Coins from banks and governments
Post by: GREATLOVE on February 08, 2018, 03:30:51 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
If the government know about this I think they can do something if they really want too. So, all of that people will make atleast report in government and the government will do something.


Title: Re: Private Coins from banks and governments
Post by: jtipt on February 08, 2018, 03:37:56 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
Now that cryptocurrency is going mainstream, obviously banks and other big corporations are going to try make their own crypto. There were rumors of Amazon making a new coin, and such. There is no way to stop this, or rather the need to stop this. Most likely these coins will fail like the thousands of other shitcoins.


Title: Re: Private Coins from banks and governments
Post by: Vladv26 on February 08, 2018, 03:44:30 PM
That would be possible to happen because they would make a lot of profit from it and they are going to have their own cryptocurrencies. For companies it would have been easier to do that because they work with money everyday and probably a lot of people are going to use cryprocurrencies to pay for their services. For governments that would be very hard to do since I am 100% sure they are going to add some taxes for using their coins and that would suck. No one wants to own coins that are controlled by the governments because they already control our salaries and they apply a lot of taxes to us.


Title: Re: Private Coins from banks and governments
Post by: Grandifer on February 08, 2018, 03:44:49 PM
You can't prevent banks and affiliated governments from forcing their own coins. Like could you not use US Dollars? Exactly, you couldn't. You have to use them because you're forced to by law. So if any government decide to implement "national" blockchain and trace EVERY transaction you can't do anything legally.

Btw, you mention private coins. Do you know that bitcoin and other cryptocurrency is actually easily traceable?
The only truly private (and fairly distributed) coins are Monero, Karbo and Aeon. You can't trace transactions on their blockchains unless you're allowed to by sender. There are no other options. Everything else is open and traceable.


Title: Re: Private Coins from banks and governments
Post by: RodeoX on February 08, 2018, 03:44:56 PM
I do. However the most important attributes of any money I would use are:

1. Decentralized ledger.
2. Open source code.
3. The inability of any entity to have greater access.

Such a coin would be a Frankenstein monster that the banks could not control. It may just come back to hurt them.  And how are they going to make money from this system? Who is paying for all the infrastructure? And why would I use a banks coins when I could have universal money that works in any country?


Title: Re: Private Coins from banks and governments
Post by: BlackBoxRecords on February 08, 2018, 03:45:10 PM
They will always need to rely with the USD only.
If they don't want FBI or CIA eyeing them.

Creation of a new currency just means they are trying to break a law already.
Another will be negativity with investors. We all know that many people are still in disapprove with all this crypto currencies specially bitcoin. It would make a big problem for them.

But consider for example the Flight Companies' "miles". De facto you can accumulate miles and buy them and I believe you can transfer them, so they are the facto a currency yet internationally legal. What's the difference? The name only?


Title: Re: Private Coins from banks and governments
Post by: BlackBoxRecords on February 08, 2018, 03:46:48 PM
I do. However the most important attributes of any money I would use are:

1. Decentralized ledger.
2. Open source code.
3. The inability of any entity to have greater access.

Such a coin would be a Frankenstein monster that the banks could not control. It may just come back to hurt them.  And how are they going to make money from this system? Who is paying for all the infrastructure? And why would I use a banks coins when I could have universal money that works in any country?

Sure, my point is that many people have heard about bitcoin and banks could potentially use that to attract investors to their own versions. The average investor would not understand a s*ht nor give a FUCK (token) if they just tell them that is "like Bitcoin but better".


Title: Re: Private Coins from banks and governments
Post by: BlackBoxRecords on February 08, 2018, 03:48:19 PM
You can't prevent banks and affiliated governments from forcing their own coins. Like could you not use US Dollars? Exactly, you couldn't. You have to use them because you're forced to by law. So if any government decide to implement "national" blockchain and trace EVERY transaction you can't do anything legally.

Btw, you mention private coins. Do you know that bitcoin and other cryptocurrency is actually easily traceable?
The only truly private (and fairly distributed) coins are Monero, Karbo and Aeon. You can't trace transactions on their blockchains unless you're allowed to by sender. There are no other options. Everything else is open and traceable.

Oh my, the only worse thing about not knowing is thinking that you know. There are a plethora of privacy oriented coins like electroneum, Deep Onion, Token Pay, Sumocoin, ... the list is endless


Title: Re: Private Coins from banks and governments
Post by: boonsterx on February 08, 2018, 03:53:12 PM
I do. However the most important attributes of any money I would use are:

1. Decentralized ledger.
2. Open source code.
3. The inability of any entity to have greater access.

Such a coin would be a Frankenstein monster that the banks could not control. It may just come back to hurt them.  And how are they going to make money from this system? Who is paying for all the infrastructure? And why would I use a banks coins when I could have universal money that works in any country?

Sure, my point is that many people have heard about bitcoin and banks could potentially use that to attract investors to their own versions. The average investor would not understand a s*ht nor give a FUCK (token) if they just tell them that is "like Bitcoin but better".

You are not wrong. Some banks or financial company will probably start to create their own crypto token and market it as the future Bitcoin and sell it to unsuspecting investors. This is akin to the structured products during the sub-prime crisis.. we all know who are these guys who will create  such products.

They will probably come up with their own token and claim it to be the best.. after they spent enough time bashing down btc. Investors who do not know better will buy their products/tokens and make these financial firms/banks rich again.



Title: Re: Private Coins from banks and governments
Post by: fiulpro on February 08, 2018, 04:23:19 PM
I think that they have a fair chance since the government knows that they will be able to lure in investors if they show more secure form of Money investments .
It's centralized, secure, controlled but not wide spread or famous.
Thus I feel it's more of a double edge sword that could do both.
It depends how much Crowd they are able to attract.


Title: Re: Private Coins from banks and governments
Post by: RodeoX on February 08, 2018, 04:31:05 PM
I do. However the most important attributes of any money I would use are:

1. Decentralized ledger.
2. Open source code.
3. The inability of any entity to have greater access.

Such a coin would be a Frankenstein monster that the banks could not control. It may just come back to hurt them.  And how are they going to make money from this system? Who is paying for all the infrastructure? And why would I use a banks coins when I could have universal money that works in any country?

Sure, my point is that many people have heard about bitcoin and banks could potentially use that to attract investors to their own versions. The average investor would not understand a s*ht nor give a FUCK (token) if they just tell them that is "like Bitcoin but better".

You are not wrong. Some banks or financial company will probably start to create their own crypto token and market it as the future Bitcoin and sell it to unsuspecting investors. This is akin to the structured products during the sub-prime crisis.. we all know who are these guys who will create  such products.

They will probably come up with their own token and claim it to be the best.. after they spent enough time bashing down btc. Investors who do not know better will buy their products/tokens and make these financial firms/banks rich again.


That all makes sense to me. But those who do buy the Bank of America coin, or whatever, are going to have buyers remorse. If they create a bitcoin like model, then it will be bitcoin with an additional mouth to feed and limited use. I think it will be hard to compete against other cryptos.


Title: Re: Private Coins from banks and governments
Post by: Idrisu on February 08, 2018, 04:53:28 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
I expect that this is already under way and we should not expect them to accept bitcoin when they know that they can easily made their own coins and build them on the same blockchain.Goldman sachs has spoken very well in favour of blockchain technology and I expect them to come up with their own coin before 2020.


Title: Re: Private Coins from banks and governments
Post by: izanagi narukami on February 08, 2018, 05:05:17 PM
Well if you ask on my government , their answer is no because they forbid bitcoin usage although they still not make any regulation yet.
It means that I can still use bitcoin but with my own risk !

Maybe for other country, bitcoin become a new technology that being wanted so it possible to happen in the future !


Title: Re: Private Coins from banks and governments
Post by: LeGaulois on February 08, 2018, 05:11:48 PM
They are free to create their own blockchain, some are already starting to add to their system such as Credit Agricole experiencing Ripple solution.
 Some have a patent running like Chase or JP Morgan; don't remember, with a crypto-based on Ethereum. But they would do it not to lure people because they can't name it Bitcoin or any other name having already be used with an altcoin. They would rather use to save money on costs, operating faster, securely or any other advantages using the cryptography/Blockchain/cryptocurrencies

Well if you ask on my government , their answer is no because they forbid bitcoin usage although they still not make any regulation yet.
It means that I can still use bitcoin but with my own risk !

Maybe for other country, bitcoin become a new technology that being wanted so it possible to happen in the future !

A government can ban to use Bitcoin it doesn't mean a bank can't create its own blockchain and use it for its customers


Title: Re: Private Coins from banks and governments
Post by: slapper on February 08, 2018, 05:17:06 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
Well this is a really suspicious thought but I don't think they, banks, governments and those investment company can do such a "special" thing like that. The governments have the laws that already prevent such action happens, the crypto technology is not recognized by the governments (or most the governments) so that they cannot just create one and ask everyone to invest into their own private blockchain, the reputation of the governments are really high so they won't risk their countries into such a dangerous action. The same thing happens to banks and big investment companies and they are being kept under the laws.


Title: Re: Private Coins from banks and governments
Post by: Grandifer on February 08, 2018, 09:40:19 PM
You can't prevent banks and affiliated governments from forcing their own coins. Like could you not use US Dollars? Exactly, you couldn't. You have to use them because you're forced to by law. So if any government decide to implement "national" blockchain and trace EVERY transaction you can't do anything legally.

Btw, you mention private coins. Do you know that bitcoin and other cryptocurrency is actually easily traceable?
The only truly private (and fairly distributed) coins are Monero, Karbo and Aeon. You can't trace transactions on their blockchains unless you're allowed to by sender. There are no other options. Everything else is open and traceable.

Oh my, the only worse thing about not knowing is thinking that you know. There are a plethora of privacy oriented coins like electroneum, Deep Onion, Token Pay, Sumocoin, ... the list is endless

You lost the most important part: they should be fairly distributed, which means no premine/instamine, no "ninja mining". Just fair mining and/or buying from miners.
Also using a public blockchain behind Tor does not make coin "private". There are cases when Tor has been compromised.
Thus we are left with CryptoNote coins only. And I listed all of them which are fair.


Title: Re: Private Coins from banks and governments
Post by: sofi@ on February 08, 2018, 09:49:11 PM
It's not possible, especially to the government who wants to have their full control over the market. Since they can't find ways to get into bitcoin and established regulations over it, they might consider having their own national crypto currencies so that full control and monitoring can be established and they can prevent abuse of cryptos and possibilities to use it for illegal activities.


Title: Re: Private Coins from banks and governments
Post by: pitiflin on February 08, 2018, 10:00:08 PM
They are known to be manipulative cunts so why not. The possibility of them not doing so is zero. They shall try to lure people into invest in such blockchains and they shall succeed not everyone sees the real motive of people. So how can we prevent? You just don't. People won't listen to a random person on the investment when it comes to investments.
Governments are trying to create their own coins/blockchain as they have mentioned publicly.


Title: Re: Private Coins from banks and governments
Post by: Vaskiy on February 08, 2018, 10:00:21 PM
Already there are several countries with their own digital currency, namely Switzerland is one among them. Banks and financial institutions were much focused on developing their own blockchain and as a part few has come up with plans of creating their own token for internal transactions. This too could add value to the technology as the future is completely dependent on technology based living.


Title: Re: Private Coins from banks and governments
Post by: yosemit on February 08, 2018, 11:44:24 PM
I suppose in the nearest future everybody will use digital coins, which can be a good business for big financial institutions and governments. SO why not?


Title: Re: Private Coins from banks and governments
Post by: boboking on February 09, 2018, 03:02:17 AM
This is very possible, this billionaires can also use the block chain technology and may also put up an ICO. I do not think someone can stop them. It is not illegal and moat likely it will be successful.


Title: Re: Private Coins from banks and governments
Post by: orions.belt19 on February 09, 2018, 04:32:36 AM
They are free to create their own blockchain, some are already starting to add to their system such as Credit Agricole experiencing Ripple solution.
 Some have a patent running like Chase or JP Morgan; don't remember, with a crypto-based on Ethereum. But they would do it not to lure people because they can't name it Bitcoin or any other name having already be used with an altcoin. They would rather use to save money on costs, operating faster, securely or any other advantages using the cryptography/Blockchain/cryptocurrencies

Well if you ask on my government , their answer is no because they forbid bitcoin usage although they still not make any regulation yet.
It means that I can still use bitcoin but with my own risk !

Maybe for other country, bitcoin become a new technology that being wanted so it possible to happen in the future !

A government can ban to use Bitcoin it doesn't mean a bank can't create its own blockchain and use it for its customers

Then to avoid this from happening, the government can impose a ban on creating new coins for banks and financial institutions. It's going to be hard for them to create such a thing anyway since they would have to be very reliant on their country's local currency. There may be not so many who would buy such a coin when there is the option to buy a coin that is not 'controlled' by them. With decentralisation in hand, people would choose a coin that would enable them to have full access of. I don't think they would do such a thing, unless they believe it to be profitable. I wouldn't see the point in creating their own coin anyway. 


Title: Re: Private Coins from banks and governments
Post by: September11Myth on March 01, 2018, 12:45:19 PM
They will do that FOR SURE. We are going towards electronic money anyway, and governments will surely create their cryptocurrencies. And so will banks and so will corporations. We simply cannot envision yet the change of paradigm that all this will cause. Decentralization of cryptocurrencies will probably disappear as a phenomenono, but to a big extent is already a myth today, as whales get bigger and bigger in every cryptocurrency and de facto are able to manipulate markets just like central organizations.


Title: Re: Private Coins from banks and governments
Post by: IndzheborgC on March 02, 2018, 11:38:26 AM
I believe that they can create this, but most investors adhere to conservative approaches and will not risk and buy a currency that does not have history.


Title: Re: Private Coins from banks and governments
Post by: BossMacko on March 02, 2018, 11:43:31 AM
They can try, there are lots of programmers that they can hire to create this but the problem in this is that the support of the users or the community. Before they create they should plan on how to get the support of the community because without a user this coin will be useless.


Title: Re: Private Coins from banks and governments
Post by: muzica0519 on March 02, 2018, 11:47:19 AM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

Maybe they are planning on doing it. Today blockchain is the most trending business and to be able to catch up with the technology, those businessmen you mentioned might be thinking of making their own blockchain. I believe they are trying to kill the current trend in cryptocurrency for them to create and lure investors for their own greed on money.


Title: Re: Private Coins from banks and governments
Post by: alyssa85 on March 02, 2018, 12:02:01 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

There is nothing stopping Goldman Sachs from issuing their own coin. After all the source code for most crypto is open source, they can just do a copy/pasta job and launch their own coin.

Whether that coin has any worth is a whole other matter. Why would you buy Goldman Sachs coin instead of bitcoin?


Title: Re: Private Coins from banks and governments
Post by: FoBoT on March 02, 2018, 12:10:29 PM
We can't be talking of control, combat, checkmate, cub or total stop, when existence of something is nullity. This is totally impossible. Banks can't legitimately or possibly create any new fiat on new Blockchain independently, and if they are to develop their secret crypto on the Block chain, probably to be given a kind of regulation, they must have accepted the existence and potentialities of Bitcoin.


Title: Re: Private Coins from banks and governments
Post by: Semaj123 on March 02, 2018, 12:47:12 PM
They can try, there are lots of programmers that they can hire to create this but the problem in this is that the support of the users or the community. Before they create they should plan on how to get the support of the community because without a user this coin will be useless.
Well, if there coin has something good to offer then I think there will be some people that will try to participate. Also, this depends on how does the platform will work and can it be a profitable. The only problem with this is about the tax  and how this will be working. Banks these days are trying to find ways on how they can not be left behind with crypto.


Title: Re: Private Coins from banks and governments
Post by: Elsie123 on March 02, 2018, 12:56:08 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
Governments can have a shot at it. But other firms or businesses will not because I don't think it is in their legal right to create their own kind of currency, I mean look at other payment methods out their they are always based from the Fiat Currency, you won't see something like "Paypal Gold" as it would be illegal to do so.


Title: Re: Private Coins from banks and governments
Post by: alyssa85 on March 02, 2018, 12:57:58 PM
Speaking of government coins, the Marshall Islands is going to issue a govt coin to be used alongside USD:

http://bitcoinist.com/marshall-islands-to-issue-crypto-legal-tender-sovereign-sov-a-global-first/

Quote
The Marshall Islands is set to create the first ever legal tender issued as a cryptocurrency, the Sovereign (SOV).

The decision comes straight from the sprawling chain of over 1,1000 volcanic islands’ parliament, who have declared that Sovereign (SOV) will be exchanged and distributed as a digital coin.

The Marshall Islands — a sovereign nation located halfway between Hawaii and Australia — currently use the United States dollar (USD), despite being a sovereign nation. However, the country will still continue to use the USD as the SOV will initially be created as a supplementary currency.

It looks like they are doing this because they don't control the USD (and it's interest rates) and they want something more local and flexible, and have decided digital is more modern than cash.


Title: Re: Private Coins from banks and governments
Post by: ProofOfLambo on March 02, 2018, 01:24:51 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

You donīt need to prevent it, there is natural space for cryptos and that is the common people. Business will do their business as usual and we donīt need them.


Title: Re: Private Coins from banks and governments
Post by: FrueGreads on March 02, 2018, 02:02:55 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

I think that is a very likely scenario, and governments will create their own centralized cryptocurrencies backed by central banks. There nothing we can do to prevent that, and I don't even if that's a bad idea. It's probably better than fiat, specially if the blockchain they use it's public like bitcoin blockchain, as it would be easier to track certain transfers. Maybe it would help with fraud and money laundry. It would still be centralized, so I don't think it would affect bitcoin, since it's still not competing with it, and never will.


Title: Re: Private Coins from banks and governments
Post by: emezh10 on March 02, 2018, 02:26:50 PM
That would be possible to happen because they would make a lot of profit from it and they are going to have their own cryptocurrencies. For companies it would have been easier to do that because they work with money everyday and probably a lot of people are going to use cryprocurrencies to pay for their services. For governments that would be very hard to do since I am 100% sure they are going to add some taxes for using their coins and that would suck. No one wants to own coins that are controlled by the governments because they already control our salaries and they apply a lot of taxes to us.
It is possible in the sense that government can really create a form of currency just like how  bitcoin moves in the market that could actually give them profit. Yet, if they would create it , support of bitcoin are more compare to the new thing that they would offer and most of people trust bitcoin system in terms of transactions and does like decentralized system which makes bitcoin volatile and give us a chance to earn.


Title: Re: Private Coins from banks and governments
Post by: krauzzer02 on March 02, 2018, 02:29:07 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

You donīt need to prevent it, there is natural space for cryptos and that is the common people. Business will do their business as usual and we donīt need them.
That's the thing it's all about the business but the fact that some of them crossed the line from being a businessman to market manipulators and Fudders just for the sake of increasing their wealth and control, spread some false news to mislead the community then create a panic selling scenario then whose the beneficiaries? they will buy cryptocurrencies at the lowest price just to gain more richness, you can't stop them unless you've proven they violated some laws, just ignore them nor auspices them with their private blockchains, tell your friends about this, that's all we can do.


Title: Re: Private Coins from banks and governments
Post by: Glaseseye on March 02, 2018, 03:26:12 PM
They can be free to try it, there are so many programmers in the world that they can rent to create their own coin but the problem is only in terms of support for them from the users or the community. Before they make this plan they will think how to get community support like bitcoin that is supported by many people in some countries because they too will lose if without their coin users this would be a waste.


Title: Re: Private Coins from banks and governments
Post by: Toden1379 on March 02, 2018, 03:43:08 PM
Blockchain tech can be used by anybody so there's not much we can do about it. It comes down to the people if they will opt to use the financial institutions coins or not. What's good about it is we get more options for our money.


Title: Re: Private Coins from banks and governments
Post by: soname12 on March 02, 2018, 03:48:17 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
No need to try to change this, the big companies around the world want to develop their blockchain technology is also good news for us. The growing number of organizations and companies that use it and develop it as an option will help the world accept it as an economic sector.


Title: Re: Private Coins from banks and governments
Post by: BartS on March 02, 2018, 04:25:43 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
They will surely try to do it, it would be a mistake to not take that opportunity and I'm sure that many are going to fall and buy those coins, this is similar to all of those that are only holding paper gold instead of the real thing but like them they are going to regret not holding gold or bitcoin when the time comes, but you need to understand that there is nothing we can do to stop banks and governments of creating their own coins in the same way we cannot stop scammers to create a bunch of useless coins either.


Title: Re: Private Coins from banks and governments
Post by: reverseflash on March 02, 2018, 05:06:51 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
In essence the tokens made by bank are the same virtual currency. I read that it becomes to distract attention from other tokens, especially that whose transactions cannot be traced.


Title: Re: Private Coins from banks and governments
Post by: Strongball on March 02, 2018, 06:05:48 PM
If things go haywire and no compromise or resolution can
be settled and achieves with the issues concerning cryptocurrencies
everywhere with banks and other types of authorities, they could possibly
and likely resort to that kind of solution. It's possible, they have the resources,
the man power, the technology is available, they have the investors and most of all
the legal authority to pull it off. If that happens it's gonna destabilize the decentralized currencies
out there, a formidable opponent to bitcoins and altcoins in the market. Maybe it will happen or maybe
it won't, we don't really know. We still even have questions on the current digital currencies that is still the
hovering with everyone. It is quite hard to speculate but honestly anything can happen from this point onward.


Title: Re: Private Coins from banks and governments
Post by: xaviervilla on March 02, 2018, 06:21:09 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?


Well honestly, I think that it can be a possibility if they really wanted it and tried to pursue it. The reason as to why I have said this is because clearly, if you think about it, the banks and the governments together with the elites that run them are truly very powerful and can really be able to do whatever their minds thinks of if they decided they really wanted to do it. Just imagine how they control media and have the luxury to bend the laws in their favor. Because let's face it, most of the people here are very greedy and would not give a fck's ass about anything as long as they get paid, this is the sad truth.


Title: Re: Private Coins from banks and governments
Post by: surfinonmyownwavebaby on March 02, 2018, 06:47:21 PM
Nothing can be done to stop it as blockchains are open source in nature. They wouldn't be "luring" their own customers but it the characteristics of that blockchain are not decentralized and open, then you don't have a blockchain built in the spirit of crypto. What you have is a centralized entity changing the way it issues money, nothing new there.


Title: Re: Private Coins from banks and governments
Post by: Ilegendph on March 02, 2018, 07:08:32 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
Actually it was happenned before, ripple is a coin which is not open-sourced and at the same time bank owned. Also in our country, banks will used blockchain technology to make thwir transaction faster but not transparent. You can just simply ignore this kind of altcoin and blockchain since the true nature of cryprocurrency is being decentralized and open sourced for security purposes.


Title: Re: Private Coins from banks and governments
Post by: z38630610 on March 02, 2018, 09:01:26 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

I hope to see banks that has own coins. But it seems hard. Because disbursements will increase if they create private coin. They may have problems with governments. Beside this situation is against with cryptocurrency.


Title: Re: Private Coins from banks and governments
Post by: w5pn73 on March 02, 2018, 09:04:59 PM
It will probably happen banks are also interested in the technology behind ripple. But as soon as one of them creates it it won't be decentralized which is the whole attraction of crypto.


Title: Re: Private Coins from banks and governments
Post by: BitCryptex on March 02, 2018, 09:52:22 PM
Banks have already started trying to implement "blockchain technology" into their current system. I think that they are trying to lure people who have heard about cryptocurrencies but they are not into more technical things. We can't really prevent it, can someone enlighten me why would they replace their system with something that won't change much for them and will only generate huge costs? The rich might try to create their own coin without any distinguishing features, pump it and then sell it.


Title: Re: Private Coins from banks and governments
Post by: eaLiTy on March 02, 2018, 10:27:06 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
The big corporates or any government around the world can come up with any new token but it does not mean that it can replace bitcoin,i am here in the crypto currency market simply because of bitcoin and the decentralized freedom it gives and there are a lot of alt coins in the market and i will just consider these government coins or tokens as alt coins and there is nothing you can do to prevent anyone from creating their own coin.


Title: Re: Private Coins from banks and governments
Post by: achsan fauzy on March 06, 2018, 06:12:01 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
Now that cryptocurrency is going mainstream, obviously banks and other big corporations are going to try make their own crypto. There were rumors of Amazon making a new coin, and such. There is no way to stop this, or rather the need to stop this. Most likely these coins will fail like the thousands of other shitcoins.
Many governments are banning the use of bitcoins, and are interested in making new coins that are new in their country. But most of their coins die and do not sell in the international market.


Title: Re: Private Coins from banks and governments
Post by: passwordnow on March 06, 2018, 06:31:13 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
Now that Goldman Sachs is involved with buying poloniex as he invested to Circle and JP Morgan bought bitcoins after Jamie Dimon spread FUD that bitcoin is fraud. There is a chance that they are luring their clients to invest to crypto, not saying with their own plan but that's what I can say.


Title: Re: Private Coins from banks and governments
Post by: pisston on March 06, 2018, 07:59:34 PM
Banks have already started trying to implement "blockchain technology" into their current system. I think that they are trying to lure people who have heard about cryptocurrencies but they are not into more technical things. We can't really prevent it, can someone enlighten me why would they replace their system with something that won't change much for them and will only generate huge costs? The rich might try to create their own coin without any distinguishing features, pump it and then sell it.
those people who will do this, he will not have the opportunity and knowledge. For us it is not possible to comprehend it, but so the result will be seen that the crypto currency will not be able to do anything with the banking system. It is even possible that the banking system will absorb the entire crypto-currency market.


Title: Re: Private Coins from banks and governments
Post by: mrcash02 on March 06, 2018, 09:35:30 PM
Banks have already started trying to implement "blockchain technology" into their current system. I think that they are trying to lure people who have heard about cryptocurrencies but they are not into more technical things. We can't really prevent it, can someone enlighten me why would they replace their system with something that won't change much for them and will only generate huge costs? The rich might try to create their own coin without any distinguishing features, pump it and then sell it.

Crypto-Currency is unstoppable, or the old system joins it or they are over. So that is what these guys are trying to do, joining Crypto-Currency, learning Blockchain technology and developing their own projects (centralized ones). For them it's a survival game.

Some people say they make people exchange their Bitcoins into centralized digital currencies, then these big guys use the profit received to buy Bitcoins and hold. This way they are accumulating Bitcoins on long term, while the fools exchange all their coins into centralized digital currencies. The goal is to have enough Bitcoins on their hands to be able to heavily influence the market. Though that is just a theory.


Title: Re: Private Coins from banks and governments
Post by: shield132 on March 06, 2018, 09:49:42 PM
Banks have already started trying to implement "blockchain technology" into their current system. I think that they are trying to lure people who have heard about cryptocurrencies but they are not into more technical things. We can't really prevent it, can someone enlighten me why would they replace their system with something that won't change much for them and will only generate huge costs? The rich might try to create their own coin without any distinguishing features, pump it and then sell it.
Can you tell me which banks started to implement blockchain technology? I don't know.
What I have heared about others trying to implement blockchain technology is that Georgian goverment works on some blockchain projects with Bitfury and currently their aim is to implement it on Land Registry.


Title: Re: Private Coins from banks and governments
Post by: BlackBoxRecords on March 08, 2018, 12:22:29 PM
Nothing can be done to stop it as blockchains are open source in nature. They wouldn't be "luring" their own customers but it the characteristics of that blockchain are not decentralized and open, then you don't have a blockchain built in the spirit of crypto. What you have is a centralized entity changing the way it issues money, nothing new there.

I think that many people that are looking for a quick buck are not much into the spirit of crypto, they have heard that they can make money but they donīt really understand the concepts behind it.


Title: Re: Private Coins from banks and governments
Post by: lvincent on March 08, 2018, 12:43:42 PM
Those people and companies you mentioned are really powerful another one is the government i think they can do it if they create their own coin and blockchain all of them are really ifluential even to the public so they really have the chance to pull this kind of thing if they want to let's just hope they not cause we can't do anything if it started.


Title: Re: Private Coins from banks and governments
Post by: tanxingwo1215 on March 08, 2018, 12:55:04 PM
I think after the bank may develop their own digital encryption currency, on the support of digital currency bank is easy to get people to believe that the bank of the ico can raise some money for research and development of block chain!

The bank's digital cryptographic currency is a medium for promoting economic growth.


Title: Re: Private Coins from banks and governments
Post by: matuson on March 08, 2018, 01:04:28 PM
I think after the bank may develop their own digital encryption currency, on the support of digital currency bank is easy to get people to believe that the bank of the ico can raise some money for research and development of block chain!

The bank's digital cryptographic currency is a medium for promoting economic growth.
That's possible. But I am sure that banks can attract only those people who do not believe in the future of cryptocurrencies. Those who know the benefits of crypto-currencies will never be money in the Bank. I don't see prospects for Bank cryptocurrencies. They will be no different from traditional non-cash money.


Title: Re: Private Coins from banks and governments
Post by: cabin on March 08, 2018, 01:17:13 PM
The only part of coins that the Government can control if peradventure they were able to create their own private coin on the existing Blockchain is that part that is solely projected and created by them. Never can the Government replace the existing Blockchain in avoidance of law breakage..


Title: Re: Private Coins from banks and governments
Post by: charlotte04 on March 08, 2018, 01:38:52 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

You don't have anything to do with that if they decided to buy and hold those coins. We just have to live with them and try to do the best to adapt.


Title: Re: Private Coins from banks and governments
Post by: batang_bitcoin on March 08, 2018, 01:43:14 PM
They can create their own coin or upgrade and use the blockchain technology. They are business and they know how to play the game of money. There's nothing that we can do to prevent that, it will come later on when things are already set. There are companies now that are interested with blockchain technology that can help them to make their business better and another example is that amazon wants to be our bank, what does it mean? It's either they will create their own token can be use for their service.


Title: Re: Private Coins from banks and governments
Post by: GregoryPorter on March 08, 2018, 01:47:17 PM
I think it's inevitable the world is going to head in this direction to be honest. My hope is that bitcoin will become the digital cash of the future that is decentralised. And I'd say this will only happenen if we really get behing bitcoin which is looking less and less likely as time goes by


Title: Re: Private Coins from banks and governments
Post by: mulukey on March 08, 2018, 02:02:00 PM
I think it's inevitable the world is going to head in this direction to be honest. My hope is that bitcoin will become the digital cash of the future that is decentralised. And I'd say this will only happenen if we really get behing bitcoin which is looking less and less likely as time goes by
I also hope bitcoin will become a digital coin for the whole world. At that time, there will be no much difference between the currencies of the countries and everyone can exchange bitcoin everywhere in the world. Bitcoin will change the way people use the currency and manage the financial system.


Title: Re: Private Coins from banks and governments
Post by: CHENIEN on March 08, 2018, 02:43:37 PM
There are many kinds of businesses all over the world, and has also different forms of strategy. All we want to know that all businesses are not totally become successful, there are also business that's failed. And if we see other kinds of businesses today that created by other people and compete into original cryptocurrency, all we need to do are by watching their competition, because we all know that the winner is the better one. And talking about coins from banks and governments, it is sounds likely good, but how about the total satisfactions of the users, can banks and governments coin give that? And if not, their coin would become worthless.


Title: Re: Private Coins from banks and governments
Post by: DesmondHayes on March 08, 2018, 02:50:27 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

They can try to do so but I don't think they have so much power to actually do anything in regards to exchanging decentralized currencies to centralized.  Decentralized crypto has made to much reputability for the government, banks and investment companies to change that status.

All crypto users are actually independent and they are highly against the government which is well known for their desire to control everything.

Decentralized crypto cannot be controlled by these institutions and that is its greatest power!


Title: Re: Private Coins from banks and governments
Post by: Hell-raiser on March 08, 2018, 04:27:25 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?

I think nothing can or should be done here because there is no need to do anything. Banks as well as other financial corporations are not allowed to create their own fiat money, so we can leave everything to the government. They will take care of the situation if some bank decides to issue their own currency. If I'm not mistaken, some company in Canada already tried something of that nature but was quickly dismissed by the Canadian government. On the other hand, though, we have Ripple which seems to fit your definition of private money quite well.


Title: Re: Private Coins from banks and governments
Post by: shezu007 on March 08, 2018, 06:45:36 PM
private coin from banks or Government mean your information is with other which is bank or government. while in the case of the bitcoin no body have information about your wallet. And the coin from Banks or government may have tax in the future while the bitcoin is free of tax. So I think if any bank or Government introduce the crypto , people will not take interest in that.


Title: Re: Private Coins from banks and governments
Post by: BartS on March 08, 2018, 08:17:53 PM
If things go haywire and no compromise or resolution can
be settled and achieves with the issues concerning cryptocurrencies
everywhere with banks and other types of authorities, they could possibly
and likely resort to that kind of solution. It's possible, they have the resources,
the man power, the technology is available, they have the investors and most of all
the legal authority to pull it off. If that happens it's gonna destabilize the decentralized currencies
out there, a formidable opponent to bitcoins and altcoins in the market. Maybe it will happen or maybe
it won't, we don't really know. We still even have questions on the current digital currencies that is still the
hovering with everyone. It is quite hard to speculate but honestly anything can happen from this point onward.
The development of such currencies will be a difficult opponent to bitcoin but it is not unbeatable, those currencies will be the same as the current fiat except with even more monitoring in place, so the reason of being of bitcoin and many other cryptocurrencies will still exist and when the economy crashes those tokens will crash as well and bitcoin will be free to be adopted by everyone that understands the difference between independent cryptocurrencies and those cryptocurrencies backed by the governments.


Title: Re: Private Coins from banks and governments
Post by: Shenzou on March 08, 2018, 08:53:06 PM
Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
This is an inevitable thing, and it is bound to happen sooner rather than later, as the cryptocurrencies are slowly making their way into the market and more and more investments being pushed toward this new kind of deal, such as ICOS which have proven to be a popular and a succeful bussines model, it will be no suprise that big companies will start implementing and coming with ideas to get more profit, and i don't think that this will be a bad thing, quite the oppiste because it will make lives much easier and will prove our point as a community that cryptocurrency is more than just investments and profit.


Title: Re: Private Coins from banks and governments
Post by: Zadicar on March 08, 2018, 09:22:49 PM
If things go haywire and no compromise or resolution can
be settled and achieves with the issues concerning cryptocurrencies
everywhere with banks and other types of authorities, they could possibly
and likely resort to that kind of solution. It's possible, they have the resources,
the man power, the technology is available, they have the investors and most of all
the legal authority to pull it off. If that happens it's gonna destabilize the decentralized currencies
out there, a formidable opponent to bitcoins and altcoins in the market. Maybe it will happen or maybe
it won't, we don't really know. We still even have questions on the current digital currencies that is still the
hovering with everyone. It is quite hard to speculate but honestly anything can happen from this point onward.
The development of such currencies will be a difficult opponent to bitcoin but it is not unbeatable, those currencies will be the same as the current fiat except with even more monitoring in place, so the reason of being of bitcoin and many other cryptocurrencies will still exist and when the economy crashes those tokens will crash as well and bitcoin will be free to be adopted by everyone that understands the difference between independent cryptocurrencies and those cryptocurrencies backed by the governments.
It doesn't really have any difference with tradition local fiat currencies which this would really be just an upgrade of it but still its still backed by government and centralized and same as you said this would really be more on monitoring since anything can really be seen on blockchain  and telling about disappearance of bitcoin is somehow not possible on this matter in fact people would still always love decentralized things.


Title: Re: Private Coins from banks and governments
Post by: 1Referee on March 08, 2018, 10:01:45 PM
while in the case of the bitcoin no body have information about your wallet.
Exchanges have. Online wallet services have. Basically any service people ever used have.

And the coin from Banks or government may have tax in the future while the bitcoin is free of tax.
Bitcoin isn't free of tax. Legally you are obliged to pay tax over your Bitcoin activities, just like how you are obliged to pay tax over stocks or securities. I don't understand why people still believe that you don't have to pay tax over your Bitcoins. Bitcoin is no tax free paradise man, wake up and welcome back in the reality.

So I think if any bank or Government introduce the crypto , people will not take interest in that.
People will take interest, because it will either be tied to the national fiat currency (and then people will somewhat be forced to use it), or it will be something that comes with various benefits and perks, just to convince sheeples they are using the right thing. It's a system people have been stuck in for many decades, and this will likely never change. Only a small portion of the world will strive for freedom.


Title: Re: Private Coins from banks and governments
Post by: Noelbetty12 on March 08, 2018, 10:50:39 PM
This a big possibility. Hopefully in future, the government will be making it one of these days. As of now the reason  why some countries are yet so silent is that it could be that they are studying how digital currency works and affects people. Some are not calling for a ban on bitcoin and altcoins and some countries are doing nothing because they could study or analyze the market and make it as a reference to the coins they would want to make later. So its like a subject of an experiment.


Title: Re: Private Coins from banks and governments
Post by: BartS on March 14, 2018, 04:31:34 PM
This a big possibility. Hopefully in future, the government will be making it one of these days. As of now the reason  why some countries are yet so silent is that it could be that they are studying how digital currency works and affects people. Some are not calling for a ban on bitcoin and altcoins and some countries are doing nothing because they could study or analyze the market and make it as a reference to the coins they would want to make later. So its like a subject of an experiment.
I do not see why you think that will be a good idea such coins will be no different than the fiat they are  already created and in fact a cryptocurrency created by a government has the potential to be way worse than fiat since they will introduce new characteristics like only using one address so that address is forever connect to you, KYC policies or chargebacks of payments which basically means they can steal money from your account and you cannot do anything about it.


Title: Re: Private Coins from banks and governments
Post by: September11Myth on March 16, 2018, 09:36:49 PM
They can try, there are lots of programmers that they can hire to create this but the problem in this is that the support of the users or the community. Before they create they should plan on how to get the support of the community because without a user this coin will be useless.

They have the media. This gives them the minds of the people to play with. The community of cryptocurrencies is made by 1% or less of the people. Banks and governments will swallow the other 99% in just one bite or two.


Title: Re: Private Coins from banks and governments
Post by: bitroxis on March 16, 2018, 09:47:04 PM
I do. However the most important attributes of any money I would use are:

1. Decentralized ledger.
2. Open source code.
3. The inability of any entity to have greater access.

Such a coin would be a Frankenstein monster that the banks could not control. It may just come back to hurt them.  And how are they going to make money from this system? Who is paying for all the infrastructure? And why would I use a banks coins when I could have universal money that works in any country?

I totally agree with this opinion. Banks will not develop their own crypto because they cannot manipulate crypto at their own free will. It's way too transparent.