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Author Topic: Central Bank of Crypto-Currency  (Read 1914 times)
beerlover
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September 10, 2018, 01:06:55 PM
 #81

I also see this altitude in what China is done by banning bitcoin so that it can protect its own Yuan. I do not feel sad about India or China for taking this bad steps as their actions have not stopped the spread and adoption of cryptocurrency with other countries. As for a central bank for this, it is a big joke.
Absolutely, all these things will not stop the space from evolving and developing the more and that even exposes them of their so many shenanigans over the years. Like you said; the whole central bank thing is a huge joke and that simply shows how limited their understanding of how the crypto space should be like is quite low. What they are simply just looking for is to accept the idea that blockchain technology is the future but sorry, we can only allow it to some extent and most of it will still be controlled.

It will actually be a very great thing if India can do this after the many fears that have been spread all over the country in recent past as a result of the government's hostile attitude towards cryptocurrency.
How would it be very great? The signs are all written over the wall, they are not in support of anything decentralized and all they are after is pure level of centralization. It may be a good step forward, but it does not change the fact that it is still going to be the regular fiat all the same. Nevertheless, for the fact that most countries are now beginning to adopt the blockchain technology is a good thing, but I really do not see the importance of the bank of crypto as that sounds ludicrous to me.
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September 11, 2018, 11:03:41 AM
 #82

crypto decentralized bank Binance is working towards it we can expect soon decentralized banking more superior and faster companies more than wallets
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September 11, 2018, 11:09:46 AM
 #83

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
Crypto currency is decentralized so we will soon have a decentralized bank too.  But our wallet may be considered as our bank already. And I feel more secure in my wallet.

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September 22, 2018, 11:58:08 AM
 #84

A big NO-NO! Crypto currencies were meant to be decentralized. What do you think is going to happen when there is a "central" bank. You think it will still remain decentralized? You think we will still retain our financial freedom? You really think the government won't be using it for their own advantage and to dominate its people? Tons of more questions to ask. Just try answering them and you will understand why it is the worst idea to introduce central banking system for crypto currencies.


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September 22, 2018, 12:35:36 PM
 #85

Banks are alright and you can start one for crypto currency but it should infidelity not be central and definitely can't be central because people will not allow it. The central banks are the worst things that happened to regular fiat currency and we will not allow it to cripple bitcoin as well.

What are we going to do just what banks to and offer loans and offer people money for their companies shares and insure them and so forth ? No thanks mate, I would rather keep the crypto world bankless before I see that happen, there are many people that think like me too so you can be sure that even if it comes to that we will not allow it.
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September 22, 2018, 03:34:02 PM
 #86

if there is an application of the crypto central bank I think this will eliminate the initial crypto creation option like bitcoin as a decentralized currency. so in my opinion the existence of a crypto central bank does not rule out the possibility of reducing the interest of crypto users because with several reasons that there is no more freedom in financial matters such as a decentralized system applied to bitcoin.

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September 22, 2018, 04:00:16 PM
 #87

Looking at it, seems like something good will happen. I think it will not only happen in India, perhaps another country that banned crypto currency before will also rethink to do the same. But, I also have a hesitation about freedom on our crypto-system if the government participate.

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September 22, 2018, 08:53:19 PM
 #88

I don't think it's a good idea. when a country who banned crypto currency at first, then rethink to use it shows that they are interest on the benefits for them. I don't think it will be good if government join us using the system.
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September 22, 2018, 09:10:52 PM
 #89

the news sound cool and interesting, this is a big boost to the adoption of cryptocurrency globally. as indian is one of the most populated nation in the world, if the government can see crypto currency as something worth adopting then bitcoin will surely conquer the universe.

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September 23, 2018, 01:55:02 AM
 #90

I think this is more targeted at a crypto currency which will be centralised and
controlled by the indian government which is fine with me. They are looking to
replace FIAT physical money with crypto.

“Globally the rising costs of managing fiat paper/metallic money, have led
central banks around the world to explore the option of introducing fiat digital currencies”.

Indeed, if government creating central banks cryptocurrency, i think its can not call cryptocurrency anymore because cryptocurrency should be decentralized and not controlled by any authorities.

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September 23, 2018, 05:23:07 AM
 #91

crypto decentralized bank Binance is working towards it we can expect soon decentralized banking more superior and faster companies more than wallets

Binance is an exchange, not a bank. There is a big difference between the two. Exchanges or clearing houses are a platform for exchanging (buying / selling) assets. You have the option of moving assets/funds in, trading and then moving them out, limiting operational risks. Banks, by their very nature, take deposits and cannot be decentralized.


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September 23, 2018, 05:48:16 AM
 #92

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
That really is the good news for cryptocurrency. This is a sign that crypto is useful for businesses around the world. In the near future, it will be widely used soon in the world and market capitalization will increase significantly.

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September 23, 2018, 06:40:04 AM
 #93

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
That really is the good news for cryptocurrency. This is a sign that crypto is useful for businesses around the world. In the near future, it will be widely used soon in the world and market capitalization will increase significantly.
Why this is a good news for cryptocurrencies? Central bank will make centralized coin, what is good about that? With so many decentralized coins why to choose centralized? In this world we need fair distribution of power, we need that cause cities are growing, centers of power make rich people richer, when will that end? Can we expect better future for all the people in the world, or we will continue to be slaves of system? People really needs to work on education, just educated people can make a difference between good and bad. When people learn to make that difference they will know who and what should be supported and what should be criticized.

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September 23, 2018, 02:06:35 PM
 #94

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency

it can be have positive and negative effects on the cryptocurrency users. First cryptocurrency is an exchange, which gives the users equal powers. Unlike with banks the rich become richer while the poor become poorer. On the other hand a standard regulation with cryptocurrency is good to avoid scams. It also can attract more business investor to invest with cryptocurrency.



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September 23, 2018, 11:38:04 PM
 #95

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency

A good nesd for the users around the globe. Since.many people.are using the bitcoin it is good to have banks that will make our transaction faster and convenient it must be build on many countries aince there are many users around world.
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September 24, 2018, 04:07:59 AM
 #96

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency

Of course it will be a positive news in favor of Crypto world in which the bank and the crypro are working together towards prosperity. The best news regarding banking system supporting crypto currency is JP Morgan in which they will fully adapt Bitcoin and the blockchain technology therefore with these development the future of Crypto currency is more secured.

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September 24, 2018, 04:10:23 AM
 #97

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
that's the truth. We should know that blockchain technology is very useful and it is helping many businesses to do better. The bank is gradually trying to apply this technology to make every transaction faster and more convenient.

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September 24, 2018, 04:16:20 AM
 #98

A big NO-NO! Crypto currencies were meant to be decentralized. What do you think is going to happen when there is a "central" bank. You think it will still remain decentralized? You think we will still retain our financial freedom? You really think the government won't be using it for their own advantage and to dominate its people? Tons of more questions to ask. Just try answering them and you will understand why it is the worst idea to introduce central banking system for crypto currencies.
That's true, we don't need a central bank for cryptocurrency, this is not going to happen even government will take over in this market because for sure no one will invest. This market is created and meant to be decentralized, its ok to have some regulations but never to control by any government. Crypto central bank is just a dream for every government, we should not support it.

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September 24, 2018, 05:10:58 AM
 #99

Honestly the establishment of Central bank of Cryptocurrency is going to hamper or mar the progress of the currency because there will be so much critical decisions that will taken on certain aspects that will be in form of regulations knowingly that Cryptos is decentralized is going to spell dooom for cryptos and could be the end of the digital currency.

       
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admosfir
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September 24, 2018, 07:11:41 AM
 #100

I think this is a good news for crypto because the country will start to give permission to crypto, but if a crypto central bank is formed, the decentralized essence of crypto will be lost

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