Government & Bitcoin

[wearepoor]

I hope , they make a physical BTC it better than virtual

Physical bitcoins, not possible and then there will be no difference between the traditional currency and bitcoins. This is not at all a good idea.

[n2004al]

I hope , they make a physical BTC it better than virtual

Who are they? The banks? But one bank cannot make money. Only work with it. The money produced by the Central Banks. The money which count and that accepted to have goods in change of those. Not they which can minted by collectors or passionate. They are only to adorn the home.

[n2004al]

I hope , they make a physical BTC it better than virtual

Physical bitcoins, not possible and then there will be no difference between the traditional currency and bitcoins. This is not at all a good idea.

If it will be possible to make physical bitcoins (almost impossible because to many factors) they will not be equal with the traditional currency never. Don't make equally bitcoin with the traditional money the making of physical coins but to many others things. Which simply are not possibly to happen. I will tell you only one factor that can't make bitcoin equal with the traditional money. Even if it will be physical bitcoins that will not make bitcoin inflationable like the traditional money. Never. Bitcoin don't incurs in any way inflation because the number of bitcoin is fixed and cannot be produced never more. So not inflationable. Traditional money incurs inflation every day. Because can be printed (possibly) how many times want the Central Bank of that tradition money.

[maartenhaha]

ha banks...
we al know all goverments are slaves to their national bank wright? and it get's worse when different countries or states merge  together on economical and political  scale and deside to use 1 main currency.

aaahh history.

there are already sites popping up acting like a bank since last year
should we considder them safe? or just like any other gamble site or scamt thingy.

when goverments deside to unite into 1 global installation with 1 main currency, it WILL be on their master's terms, NOT their peoples terms
remember that well.
it starts small, like everything starts small.
that's why you need to know your history to do it wright, not let it happen by the wrong people.

I just hope this will never happen to btc in the future and will stay as much as possible out of the claws of those greedy power hungry parasites

https://www.youtube.com/watch?v=5IJeemTQ7Vk

[Dotakels]

I hope , they make a physical BTC it better than virtual

Who are they? The banks? But one bank cannot make money. Only work with it. The money produced by the Central Banks. The money which count and that accepted to have goods in change of those. Not they which can minted by collectors or passionate. They are only to adorn the home.

Theres so many things that should must do before you can make a BTC coins or paper money like, world must take or accept bitcoin as a world currency, must have a group with 1 representative every country so that they can plan how they can do that and make that project.

[Abiky]

I hope , they make a physical BTC it better than virtual

You mean like this?



It can be worth 1 BTC, and minted out of pure gold, and can be physically traded

This physical Bitcoin looks luxurious and a very good coin to have. I would like to have one of these. Any idea on where I could buy one? I love to collect physical coins 

[deisik]

This physical Bitcoin looks luxurious and a very good coin to have. I would like to have one of these. Any idea on where I could buy one? I love to collect physical coins 

Gold Bitcoins are winning hands down. Even if Bitcoin is destined to die eventually, those will only get value with time, being few and far in between...

And you can always sell them as scrap gold, lol

[Dotakels]

This physical Bitcoin looks luxurious and a very good coin to have. I would like to have one of these. Any idea on where I could buy one? I love to collect physical coins 

Gold Bitcoins are winning hands down. Even if Bitcoin is destined to die eventually, those will only get value with time, being few and far in between...

And you can always sell them as scrap gold, lol

Its really made in gold? and i think that is limited edition of physical bitcoins. i hope that i have a 1 of that coin and i can use it as a payment in my country.

[deisik]

This physical Bitcoin looks luxurious and a very good coin to have. I would like to have one of these. Any idea on where I could buy one? I love to collect physical coins 

Gold Bitcoins are winning hands down. Even if Bitcoin is destined to die eventually, those will only get value with time, being few and far in between...

And you can always sell them as scrap gold, lol

Its really made in gold? and i think that is limited edition of physical bitcoins. i hope that i have a 1 of that coin and i can use it as a payment in my country.

I don't know, but it reads "fine gold", at least, it looks like gold...



Titanium nitride looks the same, though

[n2004al]

I hope , they make a physical BTC it better than virtual

Who are they? The banks? But one bank cannot make money. Only work with it. The money produced by the Central Banks. The money which count and that accepted to have goods in change of those. Not they which can minted by collectors or passionate. They are only to adorn the home.

Theres so many things that should must do before you can make a BTC coins or paper money like, world must take or accept bitcoin as a world currency, must have a group with 1 representative every country so that they can plan how they can do that and make that project.

In my post I wanted to specify only that a (commercial) bank have no possibility to make money but only to use it like everyone else (whether this everyone be human and whether this everyone be business). A commercial bank is like every another common business which only can work with the money but not create (produce) it. The money can be created (produced) only by one Central Banks.

There is nothing written in my post that speak about the conditions (about which you speak in your post) that must be fulfilled in order that a bitcoin (coin or paper money) can be made or the conditions which must be fulfilled that the bitcoin must be created

In your post you speak about the lasts things. Which seems totally different from mines at me.

[deisik]

I hope , they make a physical BTC it better than virtual

Who are they? The banks? But one bank cannot make money. Only work with it. The money produced by the Central Banks. The money which count and that accepted to have goods in change of those. Not they which can minted by collectors or passionate. They are only to adorn the home.

Theres so many things that should must do before you can make a BTC coins or paper money like, world must take or accept bitcoin as a world currency, must have a group with 1 representative every country so that they can plan how they can do that and make that project.

In my post I wanted to specify only that a (commercial) bank have no possibility to make money but only to use it like everyone else (whether this everyone be human and whether this everyone be business). A commercial bank is like every another common business which only can work with the money but not create (produce) it. The money can be created only by one Central Banks

What you say is semantic noise. Commercial banks create money on behalf of a Central bank through credit. When someone takes a loan in a bank, the bank makes two entries on its balance sheet, with the loan as an asset and the deposit (which offsets this loan) as a liability on the bank's balance. Thereby the bank balance gets increased by the loaned amount. This is how the system works, with the new money being created "out of thin air". You could say that it is a Central Bank working through a proxy, but technically it is the banks that actually create new money (some part of). Ultimately, it is all six of one and half a dozen of the other, since money is still created "out of nothing"...

No other business is allowed to do this kind of thing

[Miss Fortune]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

The government has to support advancement in currency and payment technologies, which means it should not be long until governments begin to adopt these technological improvements in their own monetary systems.

[n2004al]

I hope , they make a physical BTC it better than virtual

Who are they? The banks? But one bank cannot make money. Only work with it. The money produced by the Central Banks. The money which count and that accepted to have goods in change of those. Not they which can minted by collectors or passionate. They are only to adorn the home.

Theres so many things that should must do before you can make a BTC coins or paper money like, world must take or accept bitcoin as a world currency, must have a group with 1 representative every country so that they can plan how they can do that and make that project.

In my post I wanted to specify only that a (commercial) bank have no possibility to make money but only to use it like everyone else (whether this everyone be human and whether this everyone be business). A commercial bank is like every another common business which only can work with the money but not create (produce) it. The money can be created only by one Central Banks

What you say is semantic noise. Commercial banks create money on behalf of a Central bank through credit. When someone takes a loan in a bank, the bank makes two entries on its balance sheet, with the loan as an asset and the deposit (which offsets this loan) as a liability on the bank's balance. Thereby the bank balance gets increased by the loaned amount. This is how the system works, with the new money being created "out of thin air". You could say that it is a Central Bank working through a proxy, but technically it is the banks that actually create new money (some part of). Ultimately, it is all six of one and half a dozen of the other, since money is still created "out of nothing"...

No other business is allowed to do this kind of thing

I correct my semantic noise (come from my non being native Englishman). In my post I wanted to specify only that a (commercial) bank have no possibility to print (create) money but only to use it like everyone else (whether this everyone be human and whether this everyone be business). A commercial bank is like every another common business which only can work with the money but not create (produce) it.

Then is not true your part in bold. The bank only do its job and create profit. This profit is the money you mean in your post. Every business is allowed to do this thing (create money in your meaning) but simply not in the way of the bank (only because are not banks and the purpose of their existence is another). Every business is created to do something and to earn. Every business do its work, create profit realizing the purpose for which it is created, and "create" (according to your reasoning) other money (with its profit). Just like the bank. In this meaning every business create money like the your banks and for the which I talk in my post.

It is another thing the Central Bank. The Central Bank not only create (print) new money (real money which increase the physique number of banknotes in circulation; things which is not made by any other institution including your banks) but decide the amount of money in circulation. In this meaning that if the economy need more money in circulation it is only the Central Bank (and only the Central Bank) which can put new amounts of money in the market - THIS IS THE NEW MONEY - money printed (created) ONLY by it (before that moment in order to be ready for the moment in which they is needed). This cannot be made by your banks. They cannot create (print) new money to put in market but earn only money existing in the market. Because your banks are a simple business which create profit and not money. Same with the other businesses which create profit and not money.

[deisik]

At first I thought that you wanted to say that a Central bank backs up commercial banks (as a lender of last resort), thereby, in a sense, creating new money through them (that's what I called semantic noise), but now I see that was not your point. The money that banks create through loans (credit money) is no different from any other money (including paper notes emitted directly by a Central bank). You can pay for goods and services with the entries that a bank makes in its balance sheet and which you see as your deposit account balance when you take a loan in the bank. This is possible since every asset is offset by a liability (and vice versa), and the whole system as a conglomerate of banks is thereby balanced. Moreover, this form of money accounts for over 90% of all the money circulating in the modern economy, and when you pay with your debit card, it is most likely someone else's loan issued by the bank in the past to and spent by that person. In case there are multiple defaults of borrowers (or a bank-run), a Central bank comes into play providing liquidity to the system (otherwise it would not be required)...

In short, you pretty much don't understand how the modern monetary system works

[n2004al]

At first I thought that you wanted to say that a Central bank backs up commercial banks 9as a lender of last resort), thereby, in a sense, creating new money through them, but now I see that was not your point. The money that banks create through loans (credit money) is no different from any other money (including paper notes emitted directly by a Central bank). You can pay for goods and services with the entries that a bank makes in its balance sheet and which you see as your deposit account balance when you take a loan in the bank. Moreover, this form of money accounts for over 90% of all money in the modern economy...

In short, you don't understand how the modern monetary system works

Thanks for the opinion. While I see that you are not capable to understand nothing which don't fit with that is the meanings of things in your mind. I don't want to discuss your capacity of meanings.

[mordekaiser]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

Whether we like it or not bitcoin requires a regulatory approval is a major source of heated debate on bitcoin discussion forums, but the regulation issue will remain prominent as long as significant amounts of wealth are at stake.

[Abiky]

I always imagined Bitcoin being the national currency of a country. What if in the future, physical Bitcoins would be minted by the government with the face of a US president (or from another country)? That would certainly be cool, but I doubt that it would happen. Just living my dreams..lol 

[n2004al]

I always imagined Bitcoin being the national currency of a country. What if in the future, physical Bitcoins would be minted by the government with the face of a US president (or from another country)? That would certainly be cool, but I doubt that it would happen. Just living my dreams..lol  

You have the right to dream everything you want. Without the dreams the humanity wouldn't be here where it is. Read this article:

https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/

[deisik]

At first I thought that you wanted to say that a Central bank backs up commercial banks 9as a lender of last resort), thereby, in a sense, creating new money through them, but now I see that was not your point. The money that banks create through loans (credit money) is no different from any other money (including paper notes emitted directly by a Central bank). You can pay for goods and services with the entries that a bank makes in its balance sheet and which you see as your deposit account balance when you take a loan in the bank. Moreover, this form of money accounts for over 90% of all money in the modern economy...

In short, you don't understand how the modern monetary system works

Thanks for the opinion. While I see that you are not capable to understand nothing which don't fit with that is the meanings of things in your mind. I don't want to discuss your capacity of meanings.

In a totally cashless system a Central bank would be required only as a supervising body (e.g. to prevent subprime loans). In fact, the first precursors of today's fiat system started to develop even without a Central bank at all. I suspect you tried to figure out how this system works but failed at some point and came up with mental chimeras as a substitute for true comprehension...

[jaysabi]

I hope , they make a physical BTC it better than virtual

You mean like this?



It can be worth 1 BTC, and minted out of pure gold, and can be physically traded

It looks pretty fancy, and I see a QR code on the coin, but how does that work? It can't be both physical and digital at the same time. The whole point of a digital ledger is to prove who owns the digital coin, whereas with a physical coin, whoever physically holds the coin owns it. There is no need for a physical coin to have a digital ledger, which means there is no need for a QR code on the coin. So I don't exactly understand the concept here.