DubMatrix (OP)
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December 10, 2017, 12:38:44 PM |
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I was wondering what would happen if governments or banks (finally) will join the party of digital / crypto currencies? Right now they seem to act like the music / film industry and act via closing exchanges etc. and trying to stop something that will probably not go away. If at a certain point they jump to the conclusion that this is the way forward and start using / supporting crypto currencies with e.g. a government / bank coin including all guarantees, will this end other crypto currencies? See https://www.fxempire.com/education/article/the-next-cryptocurrency-evolution-countries-issue-their-own-digital-currency-443966
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reypinioco
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December 10, 2017, 01:05:08 PM |
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If thats happens im sure ripple's value will go moon,as it is created for the banks.
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Agozyen
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Until the end
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December 10, 2017, 01:06:02 PM |
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Decentralized exchanges like BarterDEX will go a long way towards reducing threats from governments and banks. Once that floodgate opens it will be game over. We're almost there. As far as big banks are concerned they will not be able to get on board. Decentralized crypto is counter to their business model. They want to gouge their customers with fees and provide as little service as possible.
(Disclaimer! My Signature is for the Monaize dICO, banking meets blockchain)
Small, agile and smart banks will look for ways to take advantage of crypto. Big banks like BofA will try and be hip with stupid and goofy in-house solutions. The threat to banks and Wall Street in general is real and they have known about the danger for a while now. Despite people comparing Jamie Dimon to Grampa Simpson he is actually very smart and should not be underestimated.
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Ch1bi
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December 10, 2017, 01:15:56 PM |
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Crypto would skyrocket that's for sure. However things would also become regulated. Take ICOs for example, There would be much less of them due to the government placing restrictions on them. Now it's like the wild West in crypto, but I feel it's necessary in order for crypto to become widely adopted by the people.
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Washball
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December 10, 2017, 01:24:26 PM |
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If banks and governments join in, there will be some regulation. Banks will make the biggest profits and governments will also grab their share. That means the whole idea of decentralised currency will be diminished. Banks will use it as a trading product, governments will maybe ban the current cryptocurrencies and create their own, in order to have more control.
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smyslov
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December 10, 2017, 01:27:25 PM |
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If thats happens im sure ripple's value will go moon,as it is created for the banks.
I have the same opinion, I have this feeling that was part of Ripple roadmap and they have seen banks will join the party and they have a ready system for them so it's now time to buy Ripple if that the future holds for crypto currency but I don't link that idea cryptocurrency should be anonymous.
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KingScorpio
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December 10, 2017, 01:40:00 PM |
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i doubt so called "goverments" and "licensed" "banks" will continue to keep their nimbus to exclude others, they will become marginallised by cryptoeconomics,
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colacat1111
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December 10, 2017, 01:49:35 PM |
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I think some governments and banks have already joining in this party. They just want to control this market, but obviously, it is not so easy.
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pey
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December 10, 2017, 01:51:40 PM |
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It's not about joining party, buying cryptocurrencies. Banks don't buy ripple, or microsoft are not interested in sys's coin. They use the technology that these projects offer, it may contribute the value of their coins for sure.
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minbosen
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December 10, 2017, 01:58:32 PM |
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I think some governments and banks have already joining in this party. They just want to control this market, but obviously, it is not so easy.
You are right. Some governments announced they will spend some money to support Blockchain development, also some banks have joined in this world and try to use this technology.
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dragon695
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December 10, 2017, 02:03:43 PM |
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I think some governments and banks have already joining in this party. They just want to control this market, but obviously, it is not so easy.
You are right. Some governments announced they will spend some money to support Blockchain development, also some banks have joined in this world and try to use this technology. In the future, I think that all Government and Banks must accept the cryptocurrency is a kind of official currency. in spite, they can not control them. They also wanna get profit from this market.
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aakriti
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December 10, 2017, 02:05:50 PM |
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If really it happen, Banks/ Government join the party. Bitcoin and altcoin go to moon and present investors will be millionaire.
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DubMatrix (OP)
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December 10, 2017, 04:01:52 PM |
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If really it happen, Banks/ Government join the party. Bitcoin and altcoin go to moon and present investors will be millionaire.
Hmm, I don't think governments / countries will just pick an existing crypto currency, nearly the techniques to build something themselve. Anyway, the thing is that for a currency to actually work is that it needs a 'backup' that it will somehow hold its value. Right now I don't think many person would like to get their loan paid in a crypto currency. For example, if you would have a great job and got paid 1 BTC with a value of $16000 a few days ago, then now you would only have to spend about $13000. The problem will exist as long as cryptocoins are related / bound to the currencies we trust I guess.
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fayrouz
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December 10, 2017, 04:05:26 PM Last edit: December 12, 2017, 01:41:49 AM by fayrouz |
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If banks and governments join in, there will be some regulation. Banks will make the biggest profits and governments will also grab their share. That means the whole idea of decentralised currency will be diminished. Banks will use it as a trading product, governments will maybe ban the current cryptocurrencies and create their own, in order to have more control.
We don't know what they gonna do, but maybe they gonna have a very strict rules to take their own shares. We're hoping for the fair rules if ever they gonna join.
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Xenrise
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December 10, 2017, 04:07:11 PM |
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Well if this will happen, there would be a revolutionary thing in this world probably. And it might happen because of that. Banks and Gov't are so powerful asset of communities, and when they pursue on something, then this will effect the market so bad.
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TwoSides
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December 10, 2017, 10:37:59 PM |
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I'm having a bad feeling if these two gets involve in Bitcoin or other altcoins especially the government. I like how banks involves in Bitcoin in terms of buying and selling funds though so I want them to just stay that way. For me when it comes to government involving in Bitcoin issues, it seems that they will end up regulating it which will surely has a negative impact in the crypto industry.
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CyNotes
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December 10, 2017, 10:49:08 PM |
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If they want to join us, the bitcoin demand will still remain good and maybe the bitcoin price will go up. I can be eager to earn a lot of bitcoin because of demand that we had now.
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kendra1107
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December 10, 2017, 10:53:53 PM |
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Reality is, "Banks" are disguised as governments...if you know what I mean. 😉 Now if these banks will get into the scene, then they will be playing a game of "Monopoly. " Because thus is where they're good at!
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coinholic
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December 10, 2017, 11:03:42 PM |
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Then a game of Monopoly will be played. Banks and governments are actually the same. Governments are just puppets. The world is being run by banks! This is the reality! Read about Rothschild.
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DeltaX
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December 10, 2017, 11:09:34 PM |
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There will be a lot of manipulations by the government or even banks. But the bank or government will try to use their own crypto as alternative payment or transaction that has used the distributed ledger system. As you can see there are some countries tried to develop the blockchain to make their own cryptocurrency as the alternative to the fiatcurrency. But this will not having any relationship with cryptocurrency.
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