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slocker
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October 28, 2018, 05:53:01 PM |
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the central bank might issue their own crypto currency, using blockchain technology. However, the central bank's crypto currency will certainly be different from the crypto currency that currently exists. Because the crypto currency released by the central bank will still have assets that are the basis of the transaction. and the pattern of calculating the circulation of crypto currencies will be adjusted as well as circulation of state money. decentralized, anonymous, and some of the characters of bitcoin as cryptocurrencies may be lost with the central bank. because the state is always present to be able to control and they will not risk something they cannot control. it is inversely proportional to the creation of bitcoin
This can be very possible and I thing that they will try to make control with that currency and that they will artificially raise and drop price when they please. Maybe not that good info but maybe they will learn no to mess with crypto community. |
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gostop
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Activity: 388
Merit: 10
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October 31, 2018, 08:38:33 AM |
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Is this similar to XRP? They are traitors of cryptocurrencies, and cryptocurrencies should not lose privacy, otherwise they are just a bubble that is being advocated. It cannot completely change human beings.
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munareal
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October 31, 2018, 01:34:42 PM |
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One of the attractive features of cryptocurrencies is its decentralization and not controlled by anybody. Having a Central Bank of Cryptocurrency means the cryptocurrency will be centralized and control by the government . The created crypto coin of Central Bank of Cryptocurrency will not be different from the fiat currency except that it is virtual. This is not the reason why crypto coin was created.
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Ann Impas
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October 31, 2018, 04:31:14 PM |
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There is a possibility that this will happen. Once the government will utilize cryptocurrency, blockchain or any form of digital currency then they need to control it in a way and centralize the operation. It's like putting-up an equivalent of the current value of fiat money into the digital currency. A central bank for a digital currency will be the control mechanism of the government.
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rekinthis
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October 31, 2018, 05:02:46 PM |
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There is a possibility that this will happen. Once the government will utilize cryptocurrency, blockchain or any form of digital currency then they need to control it in a way and centralize the operation. It's like putting-up an equivalent of the current value of fiat money into the digital currency. A central bank for a digital currency will be the control mechanism of the government.
So basically what you're trying to say is that there will be both, centralised government coins and decentralised coins? But why would anyone use some shitty government coin that will inflate just like regular currencies? Just look at the Venezuelan petro, it's a joke that no one wants to use. The only people who might be fooled by it is elderly, but even they won't be using it as old people are usually not into technology. |
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HarmonyA
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October 31, 2018, 10:35:32 PM |
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Decentralization policy of crypto would be defeated if states starts having Central Bank of Cryptocurrency.
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tarball
Jr. Member
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Activity: 98
Merit: 5
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October 31, 2018, 11:42:43 PM |
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You can't purchase or buy bitcoin, but you can use bitcoin. Logic goals. A central bank of crypto,its ridiculous. It has bank in its name, how can it be good? Oh god, we are seeing countries making absolutely worse decisions, and its hypocrisy that's evolving here. What about a central bank of bitcoin? A bank that can loan you bitcoin (with interest of course) but because it is bitcoin, they cannot print money from nothing. Frankly, I like not banks either, however what I have said is much different than current banks. |
Thanks for reading my post.
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slocker
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November 01, 2018, 07:34:58 AM |
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What about a central bank of bitcoin? A bank that can loan you bitcoin (with interest of course) but because it is bitcoin, they cannot print money from nothing. Frankly, I like not banks either, however what I have said is much different than current banks.
This is interesting that you mentioned how will they "print" bitcoin. In paper money case that is easy they print it and back up with gold like in most of developed countries in the world. But what could they do with the crypto or bitcoin as example.Will they be forced to create some coin that will have for example constant price and that it cannot go up and down, hardy. Why cuz banks want more money if this somehow comes to see light of the day this wont be good in any scenario. Personally like the system as it is. |
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leavolnhals
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November 01, 2018, 08:06:12 AM |
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It really is good news for Crypto but it is still a project. There is so much good news but it's just under construction. so to really good market return, it should take more than 2 years to recover. |
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ethereumhunter
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November 01, 2018, 08:30:17 AM |
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It really is good news for Crypto but it is still a project. There is so much good news but it's just under construction. so to really good market return, it should take more than 2 years to recover. It is better for us to wait for the next news. I am sure that there will be clarification from the banks itself. We can hope that there will be good news for us. And if this is happening, then I think there will be an increase of people that will come to the crypto, and they will see that the crypto can give them a new opportunity to have the new investment. Maybe the governments need to research more about crypto, so they don't have any problem in the future, and I think there will be many new banks like what we read on that news. |
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virtfund
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November 04, 2018, 06:29:43 PM |
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In order to control crypto market, goverments could take such a decision. Basically, it won't be different digital currecy at some respects. If this happens, reaction of crypto currency investors will be determinative where market goes. I think, most of the investors would prefer at decentralization side.
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drumamat
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November 04, 2018, 07:13:42 PM |
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I do not think that the Central Bank of cryptocurrency will be created.What will it look like, why do we need it and who will use the services of this Bank?More questions than answers.As for India and all other countries in General, I think in the near future, each country will create its own national cryptocurrencies that will be tied to Fiat money.I do not doubt it and this question is a matter of time. |
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Sarastiche
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Merit: 10
BITCOIN IS THE CURRENCY OF THE GLOBE
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November 04, 2018, 11:57:36 PM |
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This is a positive news for the cryptocurrency community, with the creation of Central Bank of crypto-currency there will be regulation in the space which will ultimately increase the numbers of investor base on trust they have , thou this might not happen soon as several countirs have policies against cryptocurrency, but in the near future this is a platform to be accepted by all.
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Commitments
Member
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Activity: 532
Merit: 10
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November 05, 2018, 12:54:03 AM |
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When ready for central bank of crypto currency is the best way how bitcoin member could save and hold their money with bitcoin, its the best way for getting much profit not only as safe money only but we can take profit with bitcoin too.
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jamids
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November 05, 2018, 01:36:09 AM |
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This is a positive news for the cryptocurrency community, with the creation of Central Bank of crypto-currency there will be regulation in the space which will ultimately increase the numbers of investor base on trust they have , thou this might not happen soon as several countirs have policies against cryptocurrency, but in the near future this is a platform to be accepted by all.
Yes, it may attract more people to use cryptocurrency due to it being regulated but then it would be opposite then of what Satoshi envision before of having a cryptocurrency that has a trustless system and people wouldn't use a third party or even ask for permit in their transactions. It is a good thing that the government is recognizing cryptocurrency but then it is still under their control so it is still like making another money under their control so there's no difference to what we have now. |
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fiomcorka
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November 07, 2018, 06:51:26 AM |
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What about a central bank of bitcoin? A bank that can loan you bitcoin (with interest of course) but because it is bitcoin, they cannot print money from nothing. Frankly, I like not banks either, however what I have said is much different than current banks.
This is interesting that you mentioned how will they "print" bitcoin. In paper money case that is easy they print it and back up with gold like in most of developed countries in the world. But what could they do with the crypto or bitcoin as example.Will they be forced to create some coin that will have for example constant price and that it cannot go up and down, hardy. Why cuz banks want more money if this somehow comes to see light of the day this wont be good in any scenario. Personally like the system as it is. Lol, so how do you expect anyone to create a so called bank for cryptocurrency and starting giving loans on Bitcoin? It’s only fool that can do that. If you try it you’re never going to get back the money you loaned to people, cause scammers are going to use that opportunity to collect millions of dollars worth of Bitcoin as loans and escape with it. We don’t even need banks, wallets are enough and there even wallets that offer you the same services as you would get in banks. |
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ninuplanste
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Activity: 31
Merit: 0
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November 08, 2018, 11:01:59 AM |
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There is nothing like having a central bank for cryptocurrency, that’s not going to happen. Blockchain is open software and there is no one in control, everyone is in control of their money. If you’ve read Satoshi’s definition of cryptocurrency, he said that he wanted to create something that can help people send and receive money without the middleman, so cryptocurrency is like giving you complete freedom over your money and the risk is also on you. So there is no need for any bank. |
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KesoNie
Copper Member
Sr. Member
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Activity: 672
Merit: 270
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November 08, 2018, 12:45:27 PM |
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There is nothing like having a central bank for cryptocurrency, that’s not going to happen. Blockchain is open software and there is no one in control, everyone is in control of their money. If you’ve read Satoshi’s definition of cryptocurrency, he said that he wanted to create something that can help people send and receive money without the middleman, so cryptocurrency is like giving you complete freedom over your money and the risk is also on you. So there is no need for any bank. I agree to that because crypto known as a decentralized which means no one can control to it. Also if Cryptocurrency have central bank then it will change a lot, the essence of being send and receive with out the third party or no middleman, also once we put our crypto in bank it will never be the same especially in transaction. So I think cryptocurrency will never be have a central bank and its impossible to happen. |
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daarul50
Legendary
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Activity: 1596
Merit: 1034
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November 08, 2018, 12:59:37 PM |
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In the world of cryptocurrency, a bank is not needed because the creation of a special cryptocurrency bank will open opportunities for criminals who take advantage of the existence of the bank to make profits in an unauthorized manner such as fraud and others.
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Eadefemi
Member
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Activity: 276
Merit: 10
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November 08, 2018, 01:11:14 PM |
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You can't purchase or buy bitcoin, but you can use bitcoin. Logic goals. A central bank of crypto,its ridiculous. It has bank in its name, how can it be good? Oh god, we are seeing countries making absolutely worse decisions, and its hypocrisy that's evolving here. You have just summed it all up. Besides, the interest of the regular bank in cryptocurrency is highly suspicious. It could be a means of trapping funds as in the case of XRP.,.. I don't see this as a cause for jubilation either ways |
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