Sweden Begins Planning Transition From Cash To Digital Currency

[error08]

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1) It will not be bitcoin
2) It will be state controlled
3) No interest paid
4) Every transaction you make will be fully trackable

5) When implemented a bitcoin ban in that country will soon follow **we will have to wait and see on this prediction **

1+2) ok
3) why no interest? banks should pay interest otherwise what is the point of putting your money with them. i prefer storing it in my mattress (or you know better bitcoin) rather than depositing in a bank if they don't pay any profit
4) money is already fully traceable so no change there

5) actually i think bitcoin usage will grow more if this is implemented. if it is successful people will see the benefits of using a digital crypto currency and it is obvious that a decentralized one which they can use globally is a lot better than a centralized government controlled coin which no other country will accept.

Totally agree,  if they created crypto, I don't think it would be different from cash but the form.
What the difference between their crypto and using cash except people don't need to bring cash anymore.
The value stil same, trackable, still centralized and they could control it.
Bitcoin much better than these kind of banks system, that's why people interested to use it.

[jtipt]

Cash and fiat is going to die off pretty soon as the globe becomes more digitalized. This movement is already beginning. We can see this in the example of India. They recently took out the largest note. Soon there is only going to be coins available.

I wouldn't say pretty soon for fiat. But yes cash will die soon, almost everyone now uses credit or other cash wallets to use fiat mostly cash is only used where these things cannot to used that pretty less. But fiat overall will not die this soon, i dont think it will die at all, the country's government wont allow fiat to die because its kinda a loss for them.

[Kakmakr]

Not anywhere near as appealing as a Decentralized currency.

The general public probably wont care if a currency is centralized or decentralized.  I have no faith in the sheeple, as long as they get paid and can buy the latest iphone with it they couldnt give a shit.  They will also swallow all the "Ban Bitcoin, it is only for drug dealers and child porn" propaganda.

It will help adoption of bitcoin as a matter of fact.

As I stated previously this is exactly what will kill bitcoin.  Governments and central banks will not tolerate direct competition from bitcoin to their shiny new, fully controlled, bank issued crypto.

The public do not care now, but once they lose the freedom that cash offer them now, they might appreciate Bitcoin's pseudo-anonymity more. The other thing is, Bitcoin is out there and it is a decentralized currency that cannot be stopped now. If it has to, it can go underground. < Black markets >

They will also not ban it globally, so you can cross borders and use it in the countries where it is not banned.  

[n0ne]

Its just a transformation from the paper money to digital paper money. This won't make big impact over the economic growth. The current move might be to make advancement among people to use currencies digitally with card swipes. This might get bitcoin acceptance among people in future when they complete get into digital using.

[Xester]

Not anywhere near as appealing as a Decentralized currency.

The general public probably wont care if a currency is centralized or decentralized.  I have no faith in the sheeple, as long as they get paid and can buy the latest iphone with it they couldnt give a shit.  They will also swallow all the "Ban Bitcoin, it is only for drug dealers and child porn" propaganda.

It will help adoption of bitcoin as a matter of fact.

As I stated previously this is exactly what will kill bitcoin.  Governments and central banks will not tolerate direct competition from bitcoin to their shiny new, fully controlled, bank issued crypto.

The public do not care now, but once they lose the freedom that cash offer them now, they might appreciate Bitcoin's pseudo-anonymity more. The other thing is, Bitcoin is out there and it is a decentralized currency that cannot be stopped now. If it has to, it can go underground. < Black markets >

They will also not ban it globally, so you can cross borders and use it in the countries where it is not banned.  

If sweden plans to transform thier currency in Digital Currency, what could it be? There's so many cryptocurrency that they can choose to use. Or will they create a new one that will carry the name of their country? If sweden started using Digital Currency, how would the other country embrace their new way or method of payment. Then what country will follow this steps?

[btccashacc]

As I predicted, as countries move from cash to crypto :

1) It will not be bitcoin
2) It will be state controlled
3) No interest paid
4) Every transaction you make will be fully trackable

5) When implemented a bitcoin ban in that country will soon follow **we will have to wait and see on this prediction **

A government and bankers wet dream - full control over all your wealth, good luck in future banker bailouts.

Remember all those bank runs in Greece and Cyprus when people got wind of the hair cut that was coming, what are you going to do when cash no longer exists to withdraw and they impose a minimal spending limit on your account.

So this is basically like they create their own crypto but a centralized cryptocurrency,  sounds good however it can make the transaction is faster, being eco-friendly and also cutting much cost , I am worried about bitcoin existance in that country if they really create it as you predict bitcoin might be banned out there.
Nowdays government especially banks are interested on blockchain technology, then i truly believe 100 Years later we will not see existence of the cash  anymore.

[davis196]

Sweden Begins Planning Transition From Cash To Digital Currency

As Reuters writes, the RIksbank could become the first major central bank in the world to create its own virtual money as the use of cash declines, Deputy Governor Cecilia Skingsley said on Wednesday.

The major difference between digital and paper currency is that every single transaction is logged, and the value of money can be remotely "adjusted", making it impossible to use cash as a value-preserving alternative to negative interest rates.

http://www.zerohedge.com/news/2016-11-17/sweden-begins-planning-transition-cash-digital-currency

As I predicted, as countries move from cash to crypto :

1) It will not be bitcoin
2) It will be state controlled
3) No interest paid
4) Every transaction you make will be fully trackable

5) When implemented a bitcoin ban in that country will soon follow **we will have to wait and see on this prediction **

A government and bankers wet dream - full control over all your wealth, good luck in future banker bailouts.

Remember all those bank runs in Greece and Cyprus when people got wind of the hair cut that was coming, what are you going to do when cash no longer exists to withdraw and they impose a minimal spending limit on your account.

This is the dark future,i guess.

Let`s see if this will become true and will this experiment work.

This might work in Sweden,but won`t work in other countries,i quess.

[QuestionAuthority]

If they ban cash how will they pay for their illegal drugs and prostitutes?

[sportis]

         But there is a significant difference between  the logic that created bitcoin and those who are considering to do the swedish government. Sweden is considering to create a virtual currency, they call it 'ekrona',  that is under the control of the Central Bank of Sweden and not the decentralized nature between bitcoins exchange. Also they think of different technologies not only the blockchain technology http://uk.businessinsider.com/swedish-central-bank-considers-digital-national-currency-ekrona-2016-11.

[hv_]

If they ban cash how will they pay for their illegal drugs and prostitutes?

You need to establish a secondary market / economy and go f_ck for drug ...

 

BTW India might be next.... that's some magnitudes higher than Sweden. China ?

[DimensionZ]

Damn digitalized fiat is like the ultimate spying tool for the government. We are headed towards a dystopian future where the world is controlled by big evil corporations. And the worst thing is that the government could shutdown your finances with the snap of a finger because all they have to do is contact the bank you have an account at and freeze your money permanently or temporarily and because you have no paper cash any more you are basically screwed. I see a big sinister plot of world domination unfolding in the far future  

[PantminerS7]

All scandi countries have been talking about this for at least 5 years. That the Swedes are making some kinda spreadhsheet really isn't news.

[mindrust]

A great way to rip people off. Truly a nightmare. Instead of fighting against the crime lords, they are punishing innocent people. Unacceptable.

That's one of the things i was afraid of when i created this topic: https://bitcointalk.org/index.php?topic=1632435.0

It seems Gold is about to make its all time high soon. Gotta collect moar while its cheap.

[prabowo96]

It will help adoption of bitcoin as a matter of fact.

As I stated previously this is exactly what will kill bitcoin.  Governments and central banks will not tolerate direct competition from bitcoin to their shiny new, fully controlled, bank issued crypto.

That's exactly what will happen, since they will can track their digital currency, they will ban every other that's anonymous.

Rich and small countries will be the fisrt to take this position about digital currency, it's much more hard to cheat the system in this way, some people can see something good here and some people can see something evil...

[ROT13]

It's a no-brainer that when this happens in Sweden and other countries, people become accustomed to going fully digital and later see just what governments and banks are then able to do that bitcoin or a substitute peer to peer crypto currency will then make sense to the average person and will become much more widespread.

[Liad.Services]

This is a move that can be really good to bitcoin as more people will see bitcoin as an example for a virutal currency that successed and will become more aware to bitcoin.
The more governments start be aware to digital currencies and blockchain,then the better chance  that bitcoin will keep growing.

[markj113]

It's a no-brainer that when this happens in Sweden and other countries, people become accustomed to going fully digital and later see just what governments and banks are then able to do that bitcoin or a substitute peer to peer crypto currency will then make sense to the average person and will become much more widespread.

And you think the governments and banks will allow this?

The whole point of a move to digital currency is to enable central banks to have tighter control and more tools to influence the economy.

[calkob]

Sweden Begins Planning Transition From Cash To Digital Currency

As Reuters writes, the RIksbank could become the first major central bank in the world to create its own virtual money as the use of cash declines, Deputy Governor Cecilia Skingsley said on Wednesday.

The major difference between digital and paper currency is that every single transaction is logged, and the value of money can be remotely "adjusted", making it impossible to use cash as a value-preserving alternative to negative interest rates.

http://www.zerohedge.com/news/2016-11-17/sweden-begins-planning-transition-cash-digital-currency

As I predicted, as countries move from cash to crypto :

1) It will not be bitcoin
2) It will be state controlled
3) No interest paid
4) Every transaction you make will be fully trackable

5) When implemented a bitcoin ban in that country will soon follow **we will have to wait and see on this prediction **

A government and bankers wet dream - full control over all your wealth, good luck in future banker bailouts.

Remember all those bank runs in Greece and Cyprus when people got wind of the hair cut that was coming, what are you going to do when cash no longer exists to withdraw and they impose a minimal spending limit on your account.

Who on earth would use a currency that is fully traceable by the government ?  i hate the thought of it.  Bitcoin will thrive in this scenario.

[LoyceV]

They only want to appear modern. "digitalized" fiat is still fiat and not cryptocurrency.

The death of cash is now being pushed in most countries.

Over the years, I see an increase in "how to buy physical gold" topics online. Paper money was only created because it's more convenient than gold, and it quickly turned into something they could easily print, creating more money out of thin air. Lately they don't even print it anymore, just add a number on a computer and it's there.
If government keeps pushing this, we could actually go back to some metal pieces or anything else (BTC) of value that government can't control.
In short: gold > coins > paper > digital > back to gold?

What worries me the most is that I actually hear quite a few people (in my own circles), saying that they wouldn't mind if cash disapeared.
I've had a long conversation with my girlfriend about this, who also thought initially that it would be better if everything was just digital but managed to convince her eventually that it might not be as good as it sounds.

It's already a huge problem if once in a while electronic payments in a supermarket don't work. I pay cash as much as possible, and use my cards as backup. People should watch less TV-commercials, for years banks are trying to push their way.

If they ban cash how will they pay for their illegal drugs and prostitutes?

Or terrorism. This sums up all the reasons government has to ban cash, and at the same time know exactly who spends what, where and when.

[QuestionAuthority]

I'm not sure if everyone is good with the government tracking their purchases of "real feel" 12" black dildos and extra large butt plugs either. The used panty market might dry up too.

http://www.ownmypanties.com