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Author Topic: IBM working with US Federal banks to develop digital currency  (Read 2110 times)
n2004al
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October 25, 2015, 06:35:52 AM
 #41

I see the content of the article of the OP in the post below but any comment. Naturally Cutesakura (the author of post) cannot pretend that is him the author of the article. So remain mister for me the post of this post.

Could its author give some explanations about the "why" of this its post? Some explanations or interpretations? So we can learn more about its idea about this thread and about the posts written on it.

Maybe there are big errors made from some poster in this thread and needed basic corrections. Me, as author of many comments, could be one of them. The probabilities to be me are to high. If me such person, would love to understand where I'm wrong or what's wrong with my thoughts. Everything is totally new and the thoughts can be created erroneous more easily.  

So Cutesakura stay in touch with us ....
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October 25, 2015, 07:11:33 AM
 #42

Some interesting thoughts here guys. Something that banks should also consider is me. I can not be compelled to use their blockchain inventions. I might use them if there is some real advantage but bitcoin is my currency now and any system they want me to participate in must involve bitcoin. Other than that I only need a safe deposit box from a bank. And I only need that to store USB sticks with bitcoins on them.


They will enact laws that will "force" you to use it, or it will make bitcoin so disadvantageous to use that they will crush the membership

Who knows, I hope it doesnt happen, but it is the way the things are headed now.

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October 26, 2015, 10:18:31 PM
 #43

Thay work,work and they will work.IBM is dead,thay have many project like smart planet etc,internt of things,on any of that project thay are getting nice grants from Washington
Banks dont want transparent,fast,payment system.it is against of his interest

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addy boy
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October 27, 2015, 03:19:10 AM
 #44

IBM is considering adopting the underlying technology behind bitcoin, known as the "blockchain," to create a digital cash and payment system for major currencies.The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs. The transactions wouldbe in an open ledger of a specific country's currency such as the dollar or euro.The blockchain - a ledger, or list, of all of a digital currency's transactions is viewed as bitcoin's main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.The proposed digital currency system would work in a similar way.
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October 27, 2015, 02:58:12 PM
 #45

IBM just smell the big cash, so they are rushing to develop digital currency as one of first  Wink First come, first served  Grin
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October 28, 2015, 08:59:51 AM
 #46

OK... the government don't love bitcoin but how it works? Under any circumstances, a digital currency created by goverment or any organization, coorperation will be monitored somehow. This will make digital lose its decentralization. No way I gonna support it
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October 28, 2015, 09:19:51 AM
 #47

OK... the government don't love bitcoin but how it works? Under any circumstances, a digital currency created by goverment or any organization, coorperation will be monitored somehow. This will make digital lose its decentralization. No way I gonna support it

What do you mean you with "support"? To not use those?

If yes, I have some questions for you. Do you use other money in your life? Do your use credit or debit card in you life? For sure yes. If not you cannot live. Those are essential part of life for everyone of us. Why you use those if they are monitored by the Government?

Then if the new coin (if it will be created because until now everything that is sure is that "are only words") will be used in the same way like your national currency used actually in your country and will have the same status like it, why you will use the second and not the first? Both are equally monitored by your Government. If the digital coin will be much more convenient in its use (compared to the other currency) and you will not use it who will have "damages" in this case: you or your Government?
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October 28, 2015, 09:41:00 AM
 #48

OK... the government don't love bitcoin but how it works? Under any circumstances, a digital currency created by goverment or any organization, coorperation will be monitored somehow. This will make digital lose its decentralization. No way I gonna support it

What do you mean you with "support"? To not use those?

If yes, I have some questions for you. Do you use other money in your life? Do your use credit or debit card in you life? For sure yes. If not you cannot live. Those are essential part of life for everyone of us. Why you use those if they are monitored by the Government?

Then if the new coin (if it will be created because until now everything that is sure is that "are only words") will be used in the same way like your national currency used actually in your country and will have the same status like it, why you will use the second and not the first? Both are equally monitored by your Government. If the digital coin will be much more convenient in its use (compared to the other currency) and you will not use it who will have "damages" in this case: you or your Government?
I have to say that's some kind of different story. The coin is still a work in progress and people now are used to using credit cards, bitcoin,... it will take a while to get that currency to work right away. Yes I agree that the paper money or the credit or debit card now are also monitored by the government but they have limitations that make the government to act right away like digital currency ( I mean if you use cash, for example, to buy some drugs, police will not just come out from nowhere and take you money then arrest you) but with digital currency, they can detect it immediately and may somehow block that money. This is still my opinion. When this coin becomes popular of course I will have to but for now maybe not
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