Are the Central Banks starting to worry about the public's perception?

[hatshepsut93]

But ask random people if they trust the government, and the monetary system, and I believe the smarter portion of those asked would answer "NO".

And this distrust never translates into real action, so governments can easily ignore it. Even if a lot of people protest, it doesn't guarantee change, take France as an example - the yellow vests movement didn't achieve much, despite months of regular protesting.

Plus there are more and more people learning more about "the banksters" because of the internet. Like us for instance.

Still very far from achieving a critical mass that can start something.

[MCobian]

In my opinion, central banks have nothing to worry about regarding public perceptions. Due to the fact that most people still use fiat
for daily transactions, some people even keep money in the bank. Even though the public has started to lose confidence in banks,
but as long as the government still protects and supports banks. People must use banks, because the government controls people's lives.
So as long as cryptocurrency hasn't been accepted by the majority of countries in the world, I think fiat and banks are still safe.

[24Kt]

In my opinion, central banks have nothing to worry about regarding public perceptions. Due to the fact that most people still use fiat
for daily transactions, some people even keep money in the bank. Even though the public has started to lose confidence in banks,
but as long as the government still protects and supports banks. People must use banks, because the government controls people's lives.
So as long as cryptocurrency hasn't been accepted by the majority of countries in the world, I think fiat and banks are still safe.

I am with this perspective. Even though a lot of people are hating the banks but right now, most of them have no choice but to utilize their services. Crypto users are only very small percentage so they don't have to worry about what the public perception is. Because that kind of perception, they have been dealing that for decades already. So what change?

[pokeronlinestatus]

I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

So what do you think is going to happen? Are you one of those that believe that cryptocurrency is going to replace fiat? There have been news about Central banks working on their own cryptocurrencies, but I don’t see the contrast with this CBDC and fiat we are using since it’s still going to be backed by the fiat of the country that owns it. I am just not getting what you’re trying to say here man.

However one thing is for sure, they do pay the right people to continue what they do and that means the whole world could hate them and they could still continue to be banks the way they are without changing.

I think we are all forgetting that most of the decisions that are being made by banks are according to what the government tells them to do. The government controls the central banks and the Cen. Banks control other banks.

[Wind_FURY]

If you ask average people on the street, what do they know about central banks, they'll only have very vague understanding of what they are doing. If the crisis will worsen, people won't be blaming central banks, they'll blame the ruling people, especially the leader, because it's the person responsible for everything. So, I don't think that central banks are panicking right now, they probably just want to explain what they are doing, because there will be more intervention now, and more people might be curious what's going on.

But ask random people if they trust the government, and the monetary system, and I believe the smarter portion of those asked would answer "NO".

Plus there are more and more people learning more about "the banksters" because of the internet. Like us for instance.

Ok, the majority doesn't trust the banks, but what does the majority use every single day? Fiat money, bank accounts, credit cards. The majority takes loans, keeps money on savings accounts, pay social secutity. They don't trust politicians but they vote for them. Trust or lack of it doesn't change much these days.

BUT, what do YOU have available as a back up/fall-back in case the Government/Central Bank in your country loses control of the monetary system?

It starts with a big letter "B".

[verita1]

I don't think cryptocurrencies will replace Fiat. Cryptocurrencies are opening up opportunities for those who move the money necessary for their economic activities, whether in investments or deposits. Cryptocurrencies would become a new asset that should be added to the total of assets.

[Wind_FURY]

I don't think cryptocurrencies will replace Fiat. Cryptocurrencies are opening up opportunities for those who move the money necessary for their economic activities, whether in investments or deposits. Cryptocurrencies would become a new asset that should be added to the total of assets.

It might not, but do you believe cryptocurrencies will "go away"?

The mere invention of Bitcoin, and its unstoppable/censorship-resistant nature because of decentralization, HAS STARTED a fundamental shift in what we might believe as "money".

[Lucius]

Ok, the majority doesn't trust the banks, but what does the majority use every single day? Fiat money, bank accounts, credit cards. The majority takes loans, keeps money on savings accounts, pay social secutity. They don't trust politicians but they vote for them. Trust or lack of it doesn't change much these days.

What else can you expect when the system is set up like this and if you want to live and function in society you have no choice but to accept banks, loans and corrupt politicians. There is still no globally widespread alternative to banks, although we have Bitcoin it is illusory to expect that something can change overnight - yet such things take much longer, because how to convince people to become their own bank and accept all the challenges that come with that responsibility?

Yet every change starts with one man and his idea, and is there a better example than what Satoshi Nakamoto initiated?

[Lorence.xD]

In my opinion, central banks have nothing to worry about regarding public perceptions. Due to the fact that most people still use fiat
for daily transactions, some people even keep money in the bank. Even though the public has started to lose confidence in banks,
but as long as the government still protects and supports banks. People must use banks, because the government controls people's lives.
So as long as cryptocurrency hasn't been accepted by the majority of countries in the world, I think fiat and banks are still safe.

This is what I have in mind too, the cryptocurrency community is still miniscule compared to the amount of people that either do not know it or doesn't want to use it. If there is a continuous unrest among populace when it comes to banking institutions where it comes to a point where a "by hook or by crook" approach/suppression is used by the country's government, I think that is where alternatives will shine, supposing that the government does not criminalize relation to cryptocurrency or otherwise, revolution against old system will be a surefire hit and a permanent change will hopefully happen.

[beerlover]

Let me put it this way, wall street can do anything wrong and they get away with it, bitmex just didn't shared info and got charged with jail time. That tells you what you need to do know about banks and how much they are afraid of people. What are we going to do, not use banks? Do you think people will just get salary in checks and they will cash it out and just use cash everywhere suddenly?

Banks are a necessity and they are going to live longer than you and me which means they are not going to be something that we can rebel against, you can try as much as you want but almost all humanity will continue to use it. There could be rare cases where few people stop using it but that will not stop them, they are just too big to fail and will be helped by their governments to keep going.

[hulla]

Like the saying change is inevitable and it not something new that the central bank and institutions monetary policy do more harms to the economy and with the damge caused by the pandemic, the public already had enough of naive policy the Central Bank always provided which is the reason why they worry about the public preception but it will be better if they follow the advise once giving them by the IMF Boss rather than the monetary that will lead to another disaster.

[iv4n]

Let me put it this way, wall street can do anything wrong and they get away with it, bitmex just didn't shared info and got charged with jail time. That tells you what you need to do know about banks and how much they are afraid of people. What are we going to do, not use banks? Do you think people will just get salary in checks and they will cash it out and just use cash everywhere suddenly?

Banks are a necessity and they are going to live longer than you and me which means they are not going to be something that we can rebel against, you can try as much as you want but almost all humanity will continue to use it. There could be rare cases where few people stop using it but that will not stop them, they are just too big to fail and will be helped by their governments to keep going.

Well we can discuss are they too big to fail. I agree with your words, it's the current situation (that lasts for centuries), but changes are coming! Internet and crypto is all that's matters to new billionaires on the global stage! Tell me if I am wrong, my opinion is that internet and crypto will reshape the way we think about many things! It's basically what's happening from the early beginnings, you get your eyes opened in many ways!
Governments and banks needs to fall if we wish better society, a better world! That will happen one day, probably many of us will not be alive to see it, but it's coming! In many ways we are building the way for future generations!

[crwth]

The problem with the transmission of policies or news regarding anything about money comes from us as well. The problem with that transmission is flooded with information that the general public has a hard time absorbing. If we consider educating every one of us and know what the problems and solutions can be, then there would be fewer problems that we have now. But that’s not reality, and this has caused problems for everyone.

The news or pieces of evidence people could have could result in conflict with the goals of the Central Banks as well. All the fake news stuff. If the general public also doesn’t understand why they are doing the things they do, then it’s going to be interpreted in another way. That’s the problem, being twisted with your words that don’t nearly come close to what you want to say.

That is the bank's perspective for sure, in my opinion. They feel that they are trying to give their reasons, but some are just having a hard time understanding. This doesn’t mean that they don’t have something trying to hide. That may be a story for another day.

[cabron]

There is no way they can hide the popularity of Bitcoin as time goes because the world tends to adjust into cashless transaction, we may not even have to announce everywhere that bitcoin or cryptocurrency is the way to go because gradually it will be introduced to the people about which digital currency is accepted to stores, having Cryptocurrency logos on the stores will eventually make them learn Bitcoin.

The banks will stay forever but they will now have to battle with cryptocurrencies.

[Wind_FURY]

There is no way they can hide the popularity of Bitcoin as time goes because the world tends to adjust into cashless transaction, we may not even have to announce everywhere that bitcoin or cryptocurrency is the way to go because gradually it will be introduced to the people about which digital currency is accepted to stores, having Cryptocurrency logos on the stores will eventually make them learn Bitcoin.

The banks will stay forever but they will now have to battle with cryptocurrencies.

It's not because we want "cashless-transactions", that's not a good reason for Bitcoin to exist. It's because a stateless, self-sovereign, decentralized, censorship-resistant cryptocurrency NEEDS to exist, taking into account the level of technology available.

[DrG]

Remember the 2008 "meltdown". The US had this childish occupy Wall Street movement and it was supported by the then President of the US. 4 years after he was elected not a single CEO was jailed. Not a single SEC chair was jailed for dereliction of duty. Nobody got punished and occupy went back to the basement to play Call of Duty.

Humans are apathetic creatures when the abstraction becomes too layered. 99% of people couldn't sit through a 10 minute video on the Fed let alone tell you what it does.

[Wind_FURY]

Remember the 2008 "meltdown". The US had this childish occupy Wall Street movement and it was supported by the then President of the US. 4 years after he was elected not a single CEO was jailed. Not a single SEC chair was jailed for dereliction of duty. Nobody got punished and occupy went back to the basement to play Call of Duty.

Humans are apathetic creatures when the abstraction becomes too layered. 99% of people couldn't sit through a 10 minute video on the Fed let alone tell you what it does.

Bit is the "idea of Bitcoin" going away, or is it simply part of our natural progression because of the technology available to us?

The Cypherpunks have been making attempts of developing a cryptography-based digital currency. Through Bitcoin, the cat is out of the bag.

[DrG]

Remember the 2008 "meltdown". The US had this childish occupy Wall Street movement and it was supported by the then President of the US. 4 years after he was elected not a single CEO was jailed. Not a single SEC chair was jailed for dereliction of duty. Nobody got punished and occupy went back to the basement to play Call of Duty.

Humans are apathetic creatures when the abstraction becomes too layered. 99% of people couldn't sit through a 10 minute video on the Fed let alone tell you what it does.

Bit is the "idea of Bitcoin" going away, or is it simply part of our natural progression because of the technology available to us?

The Cypherpunks have been making attempts of developing a cryptography-based digital currency. Through Bitcoin, the cat is out of the bag.

The cat may be out of the bag, but this is Shrodinger's cat. We know it's out of the bag but don't know how fast it's moving

In seriousness though, crypto is nice and can give people back a certain amount of freedom that banks have taken away (why the hell can't we access money on a Sunday - computers don't care what day of the week it is). The sad reality, however, is that people will still do stupid things - myself included. How many people owning crypto still trust a central entity to hold their money instead of keeping their own private keys - way too many unfortunately.

[Wind_FURY]

Remember the 2008 "meltdown". The US had this childish occupy Wall Street movement and it was supported by the then President of the US. 4 years after he was elected not a single CEO was jailed. Not a single SEC chair was jailed for dereliction of duty. Nobody got punished and occupy went back to the basement to play Call of Duty.

Humans are apathetic creatures when the abstraction becomes too layered. 99% of people couldn't sit through a 10 minute video on the Fed let alone tell you what it does.

Bit is the "idea of Bitcoin" going away, or is it simply part of our natural progression because of the technology available to us?

The Cypherpunks have been making attempts of developing a cryptography-based digital currency. Through Bitcoin, the cat is out of the bag.

The cat may be out of the bag, but this is Shrodinger's cat. We know it's out of the bag but don't know how fast it's moving

That's not the point. It's like technologies developed like Napster. Napster changed the PERCEPTION of the world in how we sell/distribute/share music. It was a FUNDAMENTAL SHIFT. Like Bitcoin's development had a fundamental shift.

You can ignore it, but that cat is NOT going back inside the bag.

[Cnut237]

I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

To stretch the metaphor to breaking point, I think the bag is open, the cat is starting to venture out... but thinking about the general public, relatively few people are looking at the bag and most don't notice what's happening. Most probably are entirely unaware of the bag's existence. There are news reports about QE, money printing, ever rising debt... but most people, particularly in a pandemic, are concerned more about their personal immediate situation, not their personal situation in a wider context, and certainly not the functioning of the economy as a whole.

But as time goes on, the cat will continue to emerge... and eventually everyone will notice it. It's just that we're still a long way from that point.