Do we Need Central Banks?

[Steavenson19]

The first central banks were created in Amsterdam and Stockholm in the early 1600s. The early central banks were largely utilized to assist in financing government operations. The Bank of England was formed as a private company in the late 1700s to help the government raise funds for financing the wars that England was engaged in at the time. By the mid-19th century, the Bank of England (misnamed because it is the central bank of the U.K., not just England) became totally government owned and had the monopoly on the issue of bank notes (currency). The U.S. did not have a central bank until the Federal Reserve came into existence in 1913. As it's shown that central bank is practically needed in our society to meet up the needs of what the central bank stands for.

[tonyosa]

I really do not think we need them,although we have been made to believe the contrary. People used money effectively before the advent of central bank,

[arabellascott21]

Of course Yes. Almost all the countries do have central banks to perform these functions. Central banks are autonomous bodies that work independently keeping economic growth priorities in view.

But talking about cryptocurrency, bitcoin specifically, central banks will not be needed.

[Vektrum]

If someone lives in a virtual world, then, probably, central banks are no longer needed. Since I still live in this rough physical world, where there still exist paper national money, the rate of which is supported by central banks and where central banks provide a unified monetary policy for the state, I still need central banks.
Some already write that we and the state do not need. Only how they are going to live in such an anarchic world where the right of the strong will reign, you can not hide from the armed gang in the virtual world.

[erikoy]

Actually we do need central bank even if you had explained well on the use of it but still you do not consider the exchange from fiat to crypto. As we all know that some of these local exchange will not going to receive directly fiat money in order for them to let you exchange your fiat to crypto. So local exchanges in short may use the third party to enable sure transactions process especially if it involves huge amount of money.

[elygil2022]

Of course, we do need central banks. Stop this manifesto nonsense. And by the way, we also need governments. 

[elwiswoodie]

maybe my opinion is different,
for now the central bank should still exist to serve the people who have not known cryptocurrency, maybe everyone here already knows cryptocurrency, but actually in my area maybe only 4% know about cryptocurrency
therefore, the role of the central bank must still be improved to serve non crypto users

[cryptoaro]

Yes I think that Almost all the countries do have central banks to perform these functions.some countries can't be get their crypto money to their bank account. that's major reason for crypto field.therefore we should try to get center bank approval in this field. this filed is never die or break as long as block chain technology. 

[Wonderced]

yes of course, we do need central banks because many people using btc and people have a withdrawal if need, at the same time suitable crypto or any newer need situation management.

[Aramazdi]

the central bank has the power over all the economic policies of the country, it would be interesting if they finally consolidated with the government to accept crypto-especially bitcoin as a legitimate means of payment, so there are two alternative ways of payment and bitcoin can act as a common currency for the whole world, both can go hand in hand.

we still need the central bank because they think a lot of complicated things. If everything is charged to individuals, then the world will become chaotic about competition and greed.

[hakertajniak]

Central bank is centralized, if cryptocurrency using that, hmm i think it won't be decentralized anymore.
Maybe there will be many cryptocurrency banks someday in the future, but it should not centralized.

[IndigoRed]

We’re all able use bitcoin without any form of bank assistance, right? So that means we don’t really need banks anymore. Maybe in the future, banking will just be reduced as a commodity. Banking services will perhaps, be optional, like the internet or electricity. I think banks can still exist while we still hold the power over our money. Do you agree?

[Kusnechik]

Central banks are engaged in the regulation of the financial system and are responsible for its stability. While they are needed.

[cjmalicious]

All things considered, national banks and fiat monetary standards are just an entirely new idea to mankind. The economy, and in addition the money, can work without a national bank, as shown continuously where paper cash did not exist and we utilized gold and silver as principle types of cash.

These are basically the most fundamental types of decentralized monetary standards, and they unquestionably functioned admirably to fill their need - to store esteem, and to fill in as a medium of trade in exchanges.

It's up to discuss regardless of whether society would work better without a national bank, yet all I know is that in the event that I needed to spare my total assets in something, I would not put the greater part of it in something which esteem depends on a focal association's trust, and they basically can blow up the supply of as much as they need to.

[luckyluigi]

In my simple opinions says they are existing they are needed, because if we would not need them most obviously they would not exist. Probably cryptocurrency will be a threat for the existence of Central Banks.

[eann014]

Yes, we need central banks. Banks can help us a lot to save money and to be safe and not only in our house that a theft can just get your hard earned money, or maybe some disaster happens, at least banks are safely stored our money or savings. If we are having a central bank for bitcoin, I think it is not good a good idea, we can already store our bitcoin through our bitcoin wallet and we can already save our income there. Why? It is also like you are already storing in the bank. I think central banks are just for fiat currencies not for bitcoins.

[tdtduy]

The central bank is the banking system needed for each country and for each person. Even though individuals are now managing their assets and performing their major trading activities without using cash. But the central bank ensures that the currency is stable and that circulation is purely legal. Central bank positioning is irreplaceable, and at present, Blockchain technology has been applied by some countries to the banking sector.

[tdtduy]

In my simple opinions says they are existing they are needed, because if we would not need them most obviously they would not exist. Probably cryptocurrency will be a threat for the existence of Central Banks.

Indeed, the central bank is necessary but not necessarily "if not needed, the central bank will not exist." The use of currency trading, accumulation, borrowing, debt repayment ... through the central bank also has its own advantages and role in comparison to electronic money. Electronic money will grow but not necessarily threaten the survival of the central bank.

[Roksodhon]

Every country has a cental bank, and all the Government knew very well how importance the cental bank. And in terms of the economics of cental bank can manage the stability of an economy by keeping the exchange rate of the fiat currency, and other economic activities.

[Donald Regoo]

I think it will need the central bank. I think the central bank has an important role to play in the economy. The central bank performs its functions to ensure the stability of monetary and interest rates in the economy, thereby realizing the macroeconomic objectives of the economy.