Bitcoin has the potential to become the central bank of the central banks

[DoublerHunter]

Bitcoin being decentralized is the main issue why banks don't use nor acknowledge it. Also I don't think that we'll ever accept giving up on the volatility of this coin where most of us take advantage to earn some profits. I would like it to remain as is.

^ There is no need for that bank will accept BTC for the central banks, BTC will not change and it will remain decentralized and the bank is centralized they are very in conflict with each other. Let say BTC adoption by most central banks, but that is it, they just adopted and that is all because of the fact they can manipulate and control it because as we know it is decentralized. Nevertheless, when we are talking about a global currency, it will probably happen but not replace its national currency and probably it is reserve for a global currency that baked by the government. However, who knows, the next 10 years id very far behind to predict.

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[Gozie51]

does not rule out if in the next 10 years all institutional institutions will agree on bitcoin as the only agency that will be responsible for an economic monetary policy in a certain country.

The institutions will not agree that for bitcoin to be the only means of financial transactions because that will even be against the purpose of bitcoin,  the freedom of choice will be overcome if that happens

however, to achieve all of this, we have to go through several stages and obstacles, while the central bank is currently not fully supportive. because fiat money remains the sole symbol in carrying out a legal payment transaction system, and also as a symbol of state.

No, fiat money has not been the only symbol in carrying out legal payment transaction, at least in, I have seen that government mention PayPal and more others as payment means.

[Argoo]

10 years ago people were discussing..

Anything lower than 10, I buy buy buy...

https://bitcointalk.org/index.php?topic=27282.msg56581970#msg56581970

Now we're discussing 40000, 50000, 60000.

The price has grown unbelievably, that's true. But why the central bank of central banks phrase, what does it mean? I'm not sure how I feel about such a comparison because Bitcoin is nothing like a central bank. It's decentralized, the supply is limited, there's no single entity in control of the distribution of money, the price is not regulated by anyone. I just don't understand how a type of money can be compared to an institution. And if you mean that Bitcoin will beat the central banks, I also have to disagree with you because while Bitcoin is very impressive and massive in its own way, the reliance of people on fiat and banks is IMO too strong for Bitcoin to be able to replace them.

It is also not clear to me what comparing bitcoin with the central bank means, and even among the central banks of states.
The nature of bitcoin is completely different from banks and their currency. Banks may provide some services in cryptocurrency, however, cryptocurrency will always occupy a special place among other currencies in the world. Banks always tightly control the circulation of currency and their owners. Cryptocurrency is distinguished by decentralization and relative anonymity of their owners. Therefore, banks and cryptocurrency should not work closely together.

[Alucard1]

As time goes by, changes always happen, a lot of things are now being innovated and advanced, we also have seen a huge change with cryptocurrency especially the bitcoin, 10 years ago bitcoin is not that really interesting asset because of its value but now we can see how it changes and a lot of people are now being more interested in it. Bitcoin will not become the central banks of the central banks instead it could be the reserve assets just like Gold.

[mk4]

Oh yeah, imagine banks suddenly switching from having to store tonnes of gold in extremely safe deposit boxes to having everything on a little cold storage device that could be not only moved in an instant but also replicated from bank to bank, recovering any of the funds in case of any kind of emergency.

No more trucks and planes filled up with tonnes of gold. All within a single click. It's all a matter of time before it happens.

Imagine how far less resource intensive it would be for banks and central banks worldwide, not needing to move metric tons of heavy metal. And people like to cry about Bitcoin using too much energy(that's actually mostly renewable energy) lol.

[tbct_mt2]

Bitcoin protocol describes it is a decentralized network and the network operation so far proves that it is truly decentralized.

The topic as a consequence of this fact, is a wrong topic. How OP thought that a decentralized cryptocurrency can become a centralized asset for central banks? It is impossible.

Bitcoin won't replace fiats, won't kill fiats. Bitcoin won't kill altcoins.

They all together will exist in the crypto market but yes of course shit and scam altcoins will die. They die because of themselves and inactive developements, not because of bitcoin.

[Silberman]

Re: Bitcoin has the potential to become the central bank of the central banks

More like bitcoin has the potential to be the reserve asset of central banks, replacing gold. A central bank is a central entity, while Bitcoin is a decentralized asset/protocol.

Check out how much gold they're holding, and how bitcoin could potentially be once they decide to hold some: https://www.gold.org/goldhub/data/monthly-central-bank-statistics

This is a real possibility, it was not long ago we could see how much gold content a paper currency was supposed to represent, this changed because it benefited the central banks but if for some reason things get out of control and central banks need to once again back their currencies with something they could choose a basket of assets instead of just backing their currency with gold, and if that is the case then bitcoin could without a doubt be one of the assets which will be used by central banks for this purpose.

[Kong Hey Pakboy]

This is a real possibility, it was not long ago we could see how much gold content a paper currency was supposed to represent, this changed because it benefited the central banks but if for some reason things get out of control and central banks need to once again back their currencies with something they could choose a basket of assets instead of just backing their currency with gold, and if that is the case then bitcoin could without a doubt be one of the assets which will be used by central banks for this purpose.

I don't think so, centralized and decentralized are like oil and water, they don't mix well and there isn't any part of bitcoin that is going to be pleasing for central banks in the first place, I mean they don't like it in the first place so why get in bed with your enemy right, I would say that the best thing to happen for these two is to coexist and not combine because if that were so then central banks will eventually gain the upper hand because they are organized compared to bitcoin.

[milesfull]

Central banks will not allow any uncontrolled entity above them, you know it

[Alphabit]

In coming 10 years, bitcoin may reach new heights. We also need to be aware of the fact that this Bull Run will not continue forever it will come down one day.

No doubt about bitcoin's bullish rally and bullish rally won't be happened until there is a bear market. So, enjoy bull market without being into fomo and buy on every dip or get ready for bear market to fill portfolio with bitcoin. It's now becoming one kind of cycle of bull and bear to teach us what to do and what not to do in every conditions. Within next 10 years, bitcoin might get closer to millions if we get more than 3-4 bull runs, IMHO.

Agree 100% on the Millions target. The market has reach such a point, that you cant deny anything any more. I believe the conventional Central Banks will still stand and Bitcoin will be right there with them. Although the price is getting out of reach for the common man, there is still an opportunity to benefit in the long-term expect the BULL run to continue....

[nebuch]

As the years goes by, there are more changes that left behind. The price is volatile and the people are looking for the better investment than banks. Bitcoin price before was let say $10, then people knew that Bitcoin was much better profit than banks although higher risk, they will seize the moment. Year after year, the popular grown until the world are almost aware of Bitcoin. The population growth, but Bitcoin supply remains strong at the same numbers. These days we are talking for 60k, 70k, or even up to 100k because the institutions are into Bitcoin. Banks should acknowledge the domain and potential of Bitcoin before Btc become the center of attraction.

[avikz]

10 years ago people were discussing..

Anything lower than 10, I buy buy buy...

https://bitcointalk.org/index.php?topic=27282.msg56581970#msg56581970

Now we're discussing 40000, 50000, 60000.

We can still discuss whether bitcoin will go over 100k or not and when it will go over 100k. But in reality, bitcoin can never become the central bank of the central banks! I am not saying that it doesn't have the potential, but it won't happen because the governments and financial administrations won't let it happen.

Bitcoin great for parking temporary money for sure but to become a reserve asset, it must be less fluctuative than what it is now. Also the network is decentralized which is another risk areas for the government not to allow it. So play a speculative game but don't make assumptions like this!

[handrei]

A new fashion has emerged, with the same growth Pump that BitCoin had there in the beginning. The name of the currency is "REAU" and went viral in Brazil, there are several videos of it on Youtube. With just $ 15 I made over $ 3,700 in just 2 days!!

[Review Master]

Although the price is getting out of reach for the common man, there is still an opportunity to benefit in the long-term expect the BULL run to continue....

It's never for us to take entry into bitcoin whether it's bullish or bearish market because bitcoin is always surging from it's begining point and it'll continue this rally with bull and bear market which will be happened one after another.TBH, it's best for us to do DCA for bitcoin or buy when bearish market is going on or buy on every dips which is suitable to take entry.

[jonval21]

10 years ago people were discussing..

Anything lower than 10, I buy buy buy...

https://bitcointalk.org/index.php?topic=27282.msg56581970#msg56581970

Now we're discussing 40000, 50000, 60000.

Bitcoin for banks is now widely considered as almost a Shelter of Value, but they do not recognize it, banks rely on gold, but seeing that gold does not grow like Bitcoin, the time will come that they will buy as much as they can In order to maintain itself, the potential of bitcoin cannot be measured, supply and demand + volatility cannot control it, that is its bottleneck.Many will follow and bet on the fall of Bitcoin, which is a bubble, but the bubble seems to be FIAT money, the Dollar, Euro, which in times of crisis is when they most demonstrate their weakness unlike Bitcoin that becomes stronger.

[adzino]

10 years ago people were discussing..

Anything lower than 10, I buy buy buy...

https://bitcointalk.org/index.php?topic=27282.msg56581970#msg56581970

Now we're discussing 40000, 50000, 60000.

So just because the price went up from $10 to $60,000, you now think that bitcoin can become the central bank of the central banks? How does this logically makes sense? You guys are being overly optimistic. Unfortunately, bitcoin is never going to take over central banks or replace them in anyway. At least this is what I think. First of all,  the price is volatile. Something extremely volatile can't take over the central bank. Secondly, there are some flaws that currently makes bitcoin less suitable to be used as a regular day to day currency.
Maybe one day the government all around the world comes up with a crypto currency of their own that will replace their own central bank system?

[jerrison]

Bitcoin cannot be the central bank as decentralization is one of the solutions bitcoin has come to offer to centralized institutions. Banks have already expressed fear over the way and manner cryptocurrency is starving them of theri operations and liquidity, the truth is, this is just the begining.  more to come from the crypto space.

10 years ago people were discussing..

Anything lower than 10, I buy buy buy...

https://bitcointalk.org/index.php?topic=27282.msg56581970#msg56581970

Now we're discussing 40000, 50000, 60000.

[Tristan Bieber]

As the market value of Bitcoin increases and the audience increases, the stability of Bitcoin prices will gradually be established. At that time, Bitcoin will be expected to become a non-sovereign global reserve currency for central banks and a safe-haven asset for large financial institutions.

[isaac_clarke22]

~

Not sure if such would be possibility even if it reaches $1 Trillion or more.
People would still think that Bitcoin would still be an unstable currency.
$1 Trillion would be hella dream for everyone.

Quite nostalgic post from the OP by the way.

[testabcde]

'Bitcoin has the potential to become the central bank of the central banks'

or one could say:

Why Bitcoin may be the ‘base money’ of the future
https://ambcrypto.com/why-bitcoin-may-be-the-base-money-of-the-future/amp/