is this bad or good news?

[Snipe85]

You mean like the global reserve we have now? Most dollars live their whole life digitally.

I'm pretty sure the world would accept a version of Bitcoin which was a digital dollar used by mobiles etc for payments yeah absolutely and I'm pretty awake.

No one said bitcoin would die, I'm saying its can be bypassed very easily and potentially made illegal.

Are you talking about the world or the US, because I just lost you there. The world doesn't accept dollar in the way that you can just march into a store somewhere in Germany with a bunch of greens. You won't see global currency in the form of electronic dollar or Bitcoin any time soon. Same thing with a ban, even if one country decides to go for it the world won't follow, because the world doesn't see Bitcoin as a thread, but rather a game changing technology. Look how for example cannabis is treated around the world. In some countries you can go to jail for smoking and in other you can do it in public. Same thing with Bitcoin, it's completely legal, but I doubt it would be possible to make it completely illegal.

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[nextgencoin]

You mean like the global reserve we have now? Most dollars live their whole life digitally.

I'm pretty sure the world would accept a version of Bitcoin which was a digital dollar used by mobiles etc for payments yeah absolutely and I'm pretty awake.

No one said bitcoin would die, I'm saying its can be bypassed very easily and potentially made illegal.

Are you talking about the world or the US, because I just lost you there. The world doesn't accept dollar in the way that you can just march into a store somewhere in Germany with a bunch of greens. You won't see global currency in the form of electronic dollar or Bitcoin any time soon. Same thing with a ban, even if one country decides to go for it the world won't follow, because the world doesn't see Bitcoin as a thread, but rather a game changing technology. Look how for example cannabis is treated around the world. In some countries you can go to jail for smoking and in other you can do it in public. Same thing with Bitcoin, it's completely legal, but I doubt it would be possible to make it completely illegal.

It was you that said the global currency couldnt be a digital Bitcoin type currency and I jsut corrected you that it already is. Of course individual countries have theor own fiat used by the population but the major trade is often in Dollars. Due to central banks being all linked then each country having a differnt picture on the front doesnt make it anymore a digital fiat printed by central banks. A digital dollar from the FED could very easily be implemented with a digital Pound....Franc....etc from the ECB and individual central banks.

By the way its a mistake to think nation borders matter that much in this discussion. I'm not American by the way.

[foxkyu]

https://www.cryptocoinsnews.com/bitcoin-value-gets-boost-fed/

IBM AND THE FEDERAL GOVERNMENT ARE NOW ON THE CRYPTO CURRENCY BANDWAGON AND IT SAYS THIS WILL "REPLACE" BITCOIN,NOT THAT THAT IS POSSIBLE BUT THIS IS BAD RIGHT?

When google created google + it didn't kill facebook, did it ?

nice words
i think if they really create a new coin to replace bitcoin it just be another altcoin with back up asset
and it can be succeed if many people support that, but i don't think so if government participate

[Snail2]

You can't simply make something new and be sure it will replace the old thing. They are forgetting one important thing: the community.
Just like Dogecoin isn't anything innovative or groundbreaking, but it is supported and on the other hand the "government's innovations" are not.

The community . I don't want to be a party popper but the BTC community is still negligibly small, and a part of it not in BTC because of whateverism but for grabbing some "internet money" and cash out in fiat asap. (Means: they are not really what I'd call hardcore bitcoin fans). Shortly: the govt not  going to give a shit about the opinion of this community.

[nextgencoin]

You can't simply make something new and be sure it will replace the old thing. They are forgetting one important thing: the community.
Just like Dogecoin isn't anything innovative or groundbreaking, but it is supported and on the other hand the "government's innovations" are not.

The community . I don't want to be a party popper but the BTC community is still negligibly small, and a part of it not in BTC because of whateverism but for grabbing some "internet money" and cash out in fiat asap. (Means: they are not really what I'd call hardcore bitcoin fans). Shortly: the govt not  going to give a shit about the opinion of this community.

Someone gets it. I can't beleive people are completely unfazed by comparing the voluntary uptake of Bitcoin by a few thousand dorks (yeah that's what we are) and the compulsory implementation of a digital dollar by the most powerful financial organisation on earth. I still hope Bitcoin will like a good virus kill the present system but we can't underestimate our opposition.

Better minds than me get this.

http://www.maxkeiser.com/2015/03/red-alert-ibm-moves-to-create-a-centralized-central-bank-controlled-blockchain-for-currency-control/

[rexxarofmoknathal]

Dumpppppp 

But no, its unfortunate that so many people are uneducated in terms of bitcoin, that they won't see past the government's bullshit if they do try to make bitcoin illegal in the next while. That said, its also hard to expect so many people to understand all the technical aspects that make bitcoin so brilliant as it is a quite complicated system.

[nextgencoin]

Dumpppppp  

But no, its unfortunate that so many people are uneducated in terms of bitcoin, that they won't see past the government's bullshit if they do try to make bitcoin illegal in the next while. That said, its also hard to expect so many people to understand all the technical aspects that make bitcoin so brilliant as it is a quite complicated system.

I don't know how my computer works but I understand what it does. Likewise no one needs to know the tech to know what Bitcoin provides. Nerds hiding behind the tech who don't understand why abitcoin was even made don't understand Bitcoin. Satoshi clearly though he understood the tech understood what he was fighting against when he inserted the newspaper article on the BOE. No one is saying Bitcoin is not superior but it could easily be sidelined just like Gold is even though it's infinetly superior to fiat.

[rexxarofmoknathal]

Dumpppppp  

But no, its unfortunate that so many people are uneducated in terms of bitcoin, that they won't see past the government's bullshit if they do try to make bitcoin illegal in the next while. That said, its also hard to expect so many people to understand all the technical aspects that make bitcoin so brilliant as it is a quite complicated system.

I don't know how my computer works but I understand what it does. Likewise no one needs to know the tech to know what Bitcoin provides. Nerds hiding behind the tech who don't understand why abitcoin was even made don't understand Bitcoin. Satoshi clearly though he understood the tech understood what he was fighting against when he inserted the newspaper article on the BOE. No one is saying Bitcoin is not superior but it could easily be sidelined just like Gold is even though it's infinetly superior to fiat.

Yeah, that's true. But the reason for it being sidelined is due to lack of popularity, but also the lack of understanding in why bitcoin is superior to fiat. If people actually learned about bitcoin instead of listening to the media that makes it seem like a sketchy thing used for illegal purposes, it would be much more used and much more difficult to replace

[nextgencoin]

Dumpppppp  

But no, its unfortunate that so many people are uneducated in terms of bitcoin, that they won't see past the government's bullshit if they do try to make bitcoin illegal in the next while. That said, its also hard to expect so many people to understand all the technical aspects that make bitcoin so brilliant as it is a quite complicated system.

I don't know how my computer works but I understand what it does. Likewise no one needs to know the tech to know what Bitcoin provides. Nerds hiding behind the tech who don't understand why abitcoin was even made don't understand Bitcoin. Satoshi clearly though he understood the tech understood what he was fighting against when he inserted the newspaper article on the BOE. No one is saying Bitcoin is not superior but it could easily be sidelined just like Gold is even though it's infinetly superior to fiat.

Yeah, that's true. But the reason for it being sidelined is due to lack of popularity, but also the lack of understanding in why bitcoin is superior to fiat. If people actually learned about bitcoin instead of listening to the media that makes it seem like a sketchy thing used for illegal purposes, it would be much more used and much more difficult to replace

Who owns most of the media?  And don't say I'm being a paranoid, there has been a systematic and consistent attack on Bitcoin in the media.

[rexxarofmoknathal]

Dumpppppp  

But no, its unfortunate that so many people are uneducated in terms of bitcoin, that they won't see past the government's bullshit if they do try to make bitcoin illegal in the next while. That said, its also hard to expect so many people to understand all the technical aspects that make bitcoin so brilliant as it is a quite complicated system.

I don't know how my computer works but I understand what it does. Likewise no one needs to know the tech to know what Bitcoin provides. Nerds hiding behind the tech who don't understand why abitcoin was even made don't understand Bitcoin. Satoshi clearly though he understood the tech understood what he was fighting against when he inserted the newspaper article on the BOE. No one is saying Bitcoin is not superior but it could easily be sidelined just like Gold is even though it's infinetly superior to fiat.

Yeah, that's true. But the reason for it being sidelined is due to lack of popularity, but also the lack of understanding in why bitcoin is superior to fiat. If people actually learned about bitcoin instead of listening to the media that makes it seem like a sketchy thing used for illegal purposes, it would be much more used and much more difficult to replace

Who owns most of the media?  And don't say I'm being a paranoid, there has been a systematic and consistent attack on Bitcoin in the media.

Exactly. The government does. That's why people should learn to think for themselves instead of soaking up and believing everything they're being fed

[nextgencoin]

Dumpppppp  

But no, its unfortunate that so many people are uneducated in terms of bitcoin, that they won't see past the government's bullshit if they do try to make bitcoin illegal in the next while. That said, its also hard to expect so many people to understand all the technical aspects that make bitcoin so brilliant as it is a quite complicated system.

I don't know how my computer works but I understand what it does. Likewise no one needs to know the tech to know what Bitcoin provides. Nerds hiding behind the tech who don't understand why abitcoin was even made don't understand Bitcoin. Satoshi clearly though he understood the tech understood what he was fighting against when he inserted the newspaper article on the BOE. No one is saying Bitcoin is not superior but it could easily be sidelined just like Gold is even though it's infinetly superior to fiat.

Yeah, that's true. But the reason for it being sidelined is due to lack of popularity, but also the lack of understanding in why bitcoin is superior to fiat. If people actually learned about bitcoin instead of listening to the media that makes it seem like a sketchy thing used for illegal purposes, it would be much more used and much more difficult to replace

Who owns most of the media?  And don't say I'm being a paranoid, there has been a systematic and consistent attack on Bitcoin in the media.

Exactly. The government does. That's why people should learn to think for themselves instead of soaking up and believing everything they're being fed

Yeah good luck with that.....

http://techcrunch.com/2014/12/16/these-were-the-10-top-trending-searches-on-google-in-2014/

[CryptoStake]

It would not kill bitcoin for the moment, such as stellar or the other, whether it can kill bitcoin and other coins? I think not, instead it will enliven the existing situation in the world cryptocurrency

[grendel25]

The fact that people are basically making their own money brings into question the efficiency of the government doing it.  I'm all for financial independence away from government control but I'm not so sure the government would ever want to give up that control.

So, if it's an effort to get rid of bitcoin... it probably won't work unless everyone decides that bitcoin is crap which is something that could be proven or other wise proven wrong if anyone wants to try hard enough.

[Hazir]

https://www.cryptocoinsnews.com/bitcoin-value-gets-boost-fed/

IBM AND THE FEDERAL GOVERNMENT ARE NOW ON THE CRYPTO CURRENCY BANDWAGON AND IT SAYS THIS WILL "REPLACE" BITCOIN,NOT THAT THAT IS POSSIBLE BUT THIS IS BAD RIGHT?

When google created google + it didn't kill facebook, did it ?

No. Your analogy is just not accurate. If you want to put it that way you should say rather: "and then people created coin LiteCoin, DogeCoin, DarkCoin, PayCoin and dozen other coins and any of it didn't kill bitcoin". This is the analogy we are looking here. I fear than IBM might create something that will be just another sophisticated altcoin with maybe better code or some upgrades and of course with full blessing of US government and Federal Reserve System.

[SargeR33]

I really do believe that if Bitcoin was to die, it would have died a long time ago. Sure it might drop in price but this technology will be around a lot longer than you think.

[turvarya]

If I get the BNN article right(not the crappy Cryptocoin News-Article, which is mostly about the price),
they want to keep the old system, but add a blockchain, a public ledger. That means, nothing changes but all your transactions are public known.
Who is going to voluntarily use that? Where is the use case for that technology? Why not just use cash, which is not public known?
The blockchain for bitcoin makes sense, because we have to know, where the money comes from. If we use a fiat blockchain, you most likely just see, that a bank put new USD on the blockchain. That doesn't in any way change, that they can easily rig the system without you knowing.

I wonder, how the ads for that would look like. I can't think of a way to present it, to make people want to use it.

[HarmonLi]

Well, just go and try to replace something. It's still up to the people to actually decide what you want to use! It's funny how often someone tries to introduce a new standard or something and the only thing they do is just add another one - there's an XKCD about this, of course!

[rapsaodan84]

I really do believe that if Bitcoin was to die, it would have died a long time ago. Sure it might drop in price but this technology will be around a lot longer than you think.

I don't think it's possible for it to die completely but who knows it could go to $50k or $5.

[deluxeCITY]

https://www.cryptocoinsnews.com/bitcoin-value-gets-boost-fed/

IBM AND THE FEDERAL GOVERNMENT ARE NOW ON THE CRYPTO CURRENCY BANDWAGON AND IT SAYS THIS WILL "REPLACE" BITCOIN,NOT THAT THAT IS POSSIBLE BUT THIS IS BAD RIGHT?

No not in my opinion that is not bad but it is actually good what i mean is they are paying attention they are no longer ignoring us we will have them start a fight with us soon enough, they will realize it is a waste of time and we will win when they join us, which i believe they will. Of course i can be wrong but i can't see them making anything close to the level bitcoin is at, even if they do where will be bitcoin be then with the free publicity. They will soon join us 

[maku]

I really do believe that if Bitcoin was to die, it would have died a long time ago. Sure it might drop in price but this technology will be around a lot longer than you think.

I don't think it's possible for it to die completely but who knows it could go to $50k or $5.

Price like that won't happen, don't worry. Amount of assets invested in bitcoin is already too great to abandon this project just like that. Big players won't let it die like that, and with their help we could be able to push and pump price to reasonable value.