What will happen if banks / governments join the party?

[DubMatrix]

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

[1714122772]

1714122772

[1714122772]

1714122772

[1714122772]

1714122772

[1714122772]

1714122772

[1714122772]

1714122772

[reypinioco]

If thats happens im sure ripple's value will go moon,as it is created for the banks.

[Agozyen]

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.  

[Ch1bi]

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.

[Washball]

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.

[smyslov]

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.

[KingScorpio]

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

i doubt so called "goverments" and "licensed" "banks"

will continue to keep their nimbus to exclude others, they will become marginallised by cryptoeconomics,

[colacat1111]

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.

[pey]

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.

[minbosen]

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.

[dragon695]

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.

[aakriti]

If really it happen, Banks/ Government join the party. Bitcoin and altcoin go to moon and present investors will be millionaire.

[DubMatrix]

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.

[fayrouz]

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.

[Xenrise]

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.

[TwoSides]

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.

[CyNotes]

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

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.

[kendra1107]

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

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!

[coinholic]

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

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.

[DeltaX]

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

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.

[VarDiff]

Many governments already joined and started to build controlled mining farms and closed-end crypto funds.

Don't think that in the government works only old people who do not understand what a computer is and how to spell the word "bitcoin"

There are many young and enterprising people who see the opportunities and have the power to realize these opportunities very quickly. And the more corrupt the government, the more interest it shows to the crypto

[joemanabat05]

it will make a big difference if it will join the party on bitcoin.

[Alerter]

Governments will never accept fully anonymous coins like Monero as a legit currency. They need to control transactions.

[natecushnerman]

Governments will never accept fully anonymous coins like Monero as a legit currency. They need to control transactions.

That is true by all means but still I believe these guys understand the changes coming and they are pushing their high resources to obtain some power there like a huge mining farm or a big amount of BTC. Also, they have an option to meet guys like Vitalik and chat with them privately.

[Londoonik]

it will probably happen in next couple of years, more and more. we will see how it will turn out, but i think anonymous currencies will be the game changers

[dx_twisted]

It will be regularized and monitor the in and out flow transactions of digital currencies circulating within their country. But there's a low chance they will be able to determine on what kind of transactions those coins are involved, this is specifically true, especially that majority of digital coins were anonymous. I also doubt that they will be able to control the volatility issues of cryptocurrencies, as no such entity that controls it. And add to the fact that supplies are not being produced by the central bank. The major impact of this currencies to one country's economy is being an additional asset or resources that will improve its economic growth.

[helin9108]

If this happen then all altcoins will go to moon for sure and particular Ripple will go to moon because Ripple is been created for special banking system.But there  should be some regulations so that to avoid scam. And if banks comes to the party, I think this cryprto market will be in much control.