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Hero MemberActivity: 784Merit: 1000 Re: What does central bank think about bitcoin? June 29, 2017, 07:58:40 PM #5 Quote from: SONG GEET on June 29, 2017, 06:24:18 PM Quote from: ayurvedicurea2growtaller on June 29, 2017, 05:56:40 PM are they really into adopting bitcoin?

What do you mean by adopting bitcoin? They will not accept bitcoin as deposit method for sure but they might support exchange of bitcoin into fiat and vice versa. Central banks actually want to shut down bitcoin network, but they can't so they are trying to monitor all bitcoin related transactions.

What do you mean by adopting bitcoin? They will not accept bitcoin as deposit method for sure but they might support exchange of bitcoin into fiat and vice versa. Central banks actually want to shut down bitcoin network, but they can't so they are trying to monitor all bitcoin related transactions.

Call me a conspiracist, but I feel like the central bank or it's appointed minions is behind the last sell off, and how all the cryptos seemed to be linked together. They seem hedged somehow. It's like they keep buying the top 30 and keep selling into rallies. They know it's about to blow up and they are trying to control it... Call me a conspiracist, but I feel like the central bank or it's appointed minions is behind the last sell off, and how all the cryptos seemed to be linked together. They seem hedged somehow. It's like they keep buying the top 30 and keep selling into rallies. They know it's about to blow up and they are trying to control it...

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Hero MemberActivity: 956Merit: 517 Re: What does central bank think about bitcoin? June 30, 2017, 12:19:45 AM #8 In my country Philippine Central Bank recently approved new rules and regulations governing the operation of virtual currency exchanges. Bangko Sentral ng Pilipinas (BSP) defines virtual currency (VC) as, any type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.



The Bangko Sentral recognizes that Virtual Currency systems have the potential to revolutionize the delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion. However, the bank does not intend to endorse any VC, such as bitcoin, as a currency, since it is neither issued or guaranteed by a central bank nor backed by any commodity.

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Sr. MemberActivity: 840Merit: 284 Re: What does central bank think about bitcoin? June 30, 2017, 12:32:02 AM #10



Quote from: piloder on June 30, 2017, 12:27:40 AM Central bank have already recognized the potential of bitcoin and they have already started working on development of their own blockchain based currency. Rather than adopting or accepting bitcoins, they are willing to create their own centralized crypto.

I wonder how that currency is going to perform with their full support and push towards it. They will do the impossible to beat Bitcoin. But I also wonder, why do you make a new centralized currency when you have Ethereum?! Ah... they will... when pigs fly.I wonder how that currency is going to perform with their full support and push towards it. They will do the impossible to beat Bitcoin. But I also wonder, why do you make a new centralized currency when you have Ethereum?!

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Sr. MemberActivity: 644Merit: 250 Re: What does central bank think about bitcoin? June 30, 2017, 12:51:12 AM #11 Quote from: piloder on June 30, 2017, 12:27:40 AM Central bank have already recognized the potential of bitcoin and they have already started working on development of their own blockchain based currency. Rather than adopting or accepting bitcoins, they are willing to create their own centralized crypto.

In the beginning of bitcoin, bank being centralized system, there were countless debates regarding use of a decentralised form of money. Bank used to ridicule bitcoin at one point. But now they know the potential of cryptocurrencies and four global banks have confirmed that they will be launching their own bitcoin like digital token, leveraging the technology behind bitcoin (Blockchain) by the year 2018. In the beginning of bitcoin, bank being centralized system, there were countless debates regarding use of a decentralised form of money. Bank used to ridicule bitcoin at one point. But now they know the potential of cryptocurrencies and four global banks have confirmed that they will be launching their own bitcoin like digital token, leveraging the technology behind bitcoin (Blockchain) by the year 2018.

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Hero MemberActivity: 784Merit: 1000 Re: What does central bank think about bitcoin? June 30, 2017, 03:06:08 AM #13 Quote from: cafucafucafu on June 30, 2017, 01:55:21 AM Quote from: ayurvedicurea2growtaller on June 29, 2017, 05:56:40 PM are they really into adopting bitcoin?



No, definitely not. Bitcoin is designed to replace all central banks, and all commercial banks as well. No longer do you need a government to take care of the monetary supply, and worry about whether or not they are honest with their business. No longer do you need to worry about frozen accounts in commercial banks, chargebacks because of stolen credit cards, and expensive overseas transfer fees and high forex exchange rates.



If bitcoin is able to solve all these things, obviously then banks don't want it to become mainstream - because banks ultimately need to generate money for shareholders, whilst bitcoin doesn't. If bitcoin goes mainstream, then government can't keep their grip on the economy, banks can't charge fees to make lots of money, etc. which is why they are opposed to it. China's central bank is making every bitcoin withdrawal/deposit restricted by having people provide proof of income first, and if there is one dirty spot then you're screwed. Banks in my country are freezing bitcoin trader's accounts. It's really quite sad to see banks not embracing this technology, but obviously they have a conflict of interset.

No, definitely not. Bitcoin is designed to replace all central banks, and all commercial banks as well. No longer do you need a government to take care of the monetary supply, and worry about whether or not they are honest with their business. No longer do you need to worry about frozen accounts in commercial banks, chargebacks because of stolen credit cards, and expensive overseas transfer fees and high forex exchange rates.If bitcoin is able to solve all these things, obviously then banks don't want it to become mainstream - because banks ultimately need to generate money for shareholders, whilst bitcoin doesn't. If bitcoin goes mainstream, then government can't keep their grip on the economy, banks can't charge fees to make lots of money, etc. which is why they are opposed to it. China's central bank is making every bitcoin withdrawal/deposit restricted by having people provide proof of income first, and if there is one dirty spot then you're screwed. Banks in my country are freezing bitcoin trader's accounts. It's really quite sad to see banks not embracing this technology, but obviously they have a conflict of interset.



We don't need no Central Coins! We don't need no Central Coins!

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Hero MemberActivity: 966Merit: 515One of the world's leading Bitcoin-powered casinos Re: What does central bank think about bitcoin? June 30, 2017, 04:33:23 AM #16 Quote from: ayurvedicurea2growtaller on June 29, 2017, 05:56:40 PM are they really into adopting bitcoin?

Yes , they will accept it , Since here we have many bad things with it like gambling , illegal activities , foreign payment without taxation , worldwide deals without much restrictions and many more but still there is no chance to ban it because many people are involved in this and living Thier life with the Bitcoin earnings only , now let us assume that the central government banned the Bitcoin then what will happen , now you will came at the road so he will surely use VPN service to access the Bitcoin because Bitcoin can't be ban .

So here people have many ways and reasons to use and no one can stopped them to use , so here instead to ban they will make few struck rules so that no one can do bad things with this technology of blockchain . Yes , they will accept it , Since here we have many bad things with it like gambling , illegal activities , foreign payment without taxation , worldwide deals without much restrictions and many more but still there is no chance to ban it because many people are involved in this and living Thier life with the Bitcoin earnings only , now let us assume that the central government banned the Bitcoin then what will happen , now you will came at the road so he will surely use VPN service to access the Bitcoin because Bitcoin can't be ban .So here people have many ways and reasons to use and no one can stopped them to use , so here instead to ban they will make few struck rules so that no one can do bad things with this technology of blockchain .