Kakashi2020 Posted June 12, 2018 Share Posted June 12, 2018 There's a lot of talk about Bitcoin making Fiat money obsolete and that Bitcoin would one day become the new world currency. But the way it looks in reality is Bitcoin would have a very hard time if not impossible task in bumping off Fiat money. Also the world's governments and the powers controlling big businesses seems wary in trusting and supporting Bitcoin. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/ Share on other sites More sharing options...
Henrywrites Posted June 12, 2018 Share Posted June 12, 2018 The government of the world ain't interested in whether Bitcoin is going to replace fiat money. They are trying to do all they can to ensure that people invest more on banks instead of having to pull it into the coins market. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1213 Share on other sites More sharing options...
Kakashi2020 Posted June 14, 2018 Author Share Posted June 14, 2018 On 6/13/2018 at 4:26 AM, Henrywrites said: The government of the world ain't interested in whether Bitcoin is going to replace fiat money. They are trying to do all they can to ensure that people invest more on banks instead of having to pull it into the coins market. You have a point there that's why they hate Bitcoin and other cryptocurrencies because they can't control or profit from it. But Governments and big businesses do have the power to ban bitcoins. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1245 Share on other sites More sharing options...
Marako0406 Posted June 14, 2018 Share Posted June 14, 2018 I would have to agree on this too. I believe that the main risk of cryptocurrencies is that could be banned outright anywhere and are more likely to end badly just like many banks if the government and powerful businesses and countries steps in but if and only if the time comes that bitcoin goes head to head. I've read in an article about bitcoin's success that China sees it as a threat that's why they banned ICO's Initial Coin Offerings then the Bitcoin Exchanges that may trigger the crash of cryptocurrency. I think at some point they are worried about Bitcoin becoming too important in this day and age and as China bans powerful ideas because it cannot stand any but it's own. There are always a way maybe in the future, someone might be holding and controlling Bitcoin. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1252 Share on other sites More sharing options...
Henrywrites Posted June 17, 2018 Share Posted June 17, 2018 On 6/14/2018 at 12:28 PM, Kakashi2020 said: You have a point there that's why they hate Bitcoin and other cryptocurrencies because they can't control or profit from it. But Governments and big businesses do have the power to ban bitcoins. They have the power, but they are aware of the backlash that is going to give them from coins traders if they dare that. So, I am looking at how this is going to happen since they want the world to be a better place. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1298 Share on other sites More sharing options...
Kakashi2020 Posted June 17, 2018 Author Share Posted June 17, 2018 17 minutes ago, Henrywrites said: They have the power, but they are aware of the backlash that is going to give them from coins traders if they dare that. So, I am looking at how this is going to happen since they want the world to be a better place. You have a point there but considering the very small number of Bitcoin and Cryptocurrency users, I think governments can handle it. And banks as you know sustains itself through greed, they can and eventually if the cryptocurrencies starts becoming a popular currency that rivals banks then they would eventually consider to ban it or the government may classify it as illegal. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1301 Share on other sites More sharing options...
Henrywrites Posted June 21, 2018 Share Posted June 21, 2018 On 6/17/2018 at 6:06 PM, Kakashi2020 said: You have a point there but considering the very small number of Bitcoin and Cryptocurrency users, I think governments can handle it. And banks as you know sustains itself through greed, they can and eventually if the cryptocurrencies starts becoming a popular currency that rivals banks then they would eventually consider to ban it or the government may classify it as illegal. I am watching keenly to see how everything is going to turn out at the end since the war between banks and cryptocurrencies are taking a different turn as the day goes by. What I have come to notice also is that coins prices are volatile in the market as well. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1383 Share on other sites More sharing options...
Kakashi2020 Posted June 22, 2018 Author Share Posted June 22, 2018 19 hours ago, Henrywrites said: I am watching keenly to see how everything is going to turn out at the end since the war between banks and cryptocurrencies are taking a different turn as the day goes by. What I have come to notice also is that coins prices are volatile in the market as well. Like what's happening to the price of Bitcoin which up to now is still depreciating if not swinging wildly. I have a good stockbroker friend which even with his experience can't make odds or ends when it comes to the price of bitcoin. He told me that it's very unpredictable and doesn't follow normal rules, it has a very unique movement, that according to him can't be predicted by statistics. I think only time can tell what the future is with regards to Bitcoin. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1397 Share on other sites More sharing options...
Henrywrites Posted June 26, 2018 Share Posted June 26, 2018 On 6/22/2018 at 3:33 PM, Kakashi2020 said: Like what's happening to the price of Bitcoin which up to now is still depreciating if not swinging wildly. I have a good stockbroker friend which even with his experience can't make odds or ends when it comes to the price of bitcoin. He told me that it's very unpredictable and doesn't follow normal rules, it has a very unique movement, that according to him can't be predicted by statistics. I think only time can tell what the future is with regards to Bitcoin. I have no doubts on the future of coins as a time is coming when it is those that are wishing for the downfall of Bitcoin will end up buying more of it as it is really a great way that we can get to store our wealth. This can be seen as some government are now looking at buying the coins through some agents aa well. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1456 Share on other sites More sharing options...
Martinsx Posted June 26, 2018 Share Posted June 26, 2018 Governments already knows that threat Bitcoin and other cryptocurrency poses against its fiat currency, and they are not willing to roll over and have Bitcoin and other digital currency take over the world financial market. This will reduce their dominance and control in the world market, and as such they will never all allow Bitcoin and other cryptocurrency to proceed ahead of fiat currency. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1457 Share on other sites More sharing options...
Kakashi2020 Posted June 26, 2018 Author Share Posted June 26, 2018 9 hours ago, Martinsx said: Governments already knows that threat Bitcoin and other cryptocurrency poses against its fiat currency, and they are not willing to roll over and have Bitcoin and other digital currency take over the world financial market. This will reduce their dominance and control in the world market, and as such they will never all allow Bitcoin and other cryptocurrency to proceed ahead of fiat currency. Precisely what I'm thinking, they might be studying first the effect of Bitcoin in society and how it would fare in the market before these banks / governments / financial institutions create their own cryptocurrencies. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1467 Share on other sites More sharing options...
Martinsx Posted June 27, 2018 Share Posted June 27, 2018 14 hours ago, Kakashi2020 said: Precisely what I'm thinking, they might be studying first the effect of Bitcoin in society and how it would fare in the market before these banks / governments / financial institutions create their own cryptocurrencies. There is a possibility in that, because should the world accept Bitcoin and other cryptocurrency, the only government can influence it is by launching its own country's cryptocurrency blockchain and ban the use of Bitcoin or other cryptocurrency not approved by the state. Who knows? We might see that happening. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1479 Share on other sites More sharing options...
Kakashi2020 Posted June 27, 2018 Author Share Posted June 27, 2018 2 hours ago, Martinsx said: There is a possibility in that, because should the world accept Bitcoin and other cryptocurrency, the only government can influence it is by launching its own country's cryptocurrency blockchain and ban the use of Bitcoin or other cryptocurrency not approved by the state. Who knows? We might see that happening. I do believe that it would be the future of Bitcoin, since if you think about it, Bitcoin is the first Cryptocurrency and as such, it should have been very successful and then all of a sudden it's price depreciated and now it's in the $6.1K mark. While I think that it should have continued appreciating. So definitely someone's messing with its natural flow, stropping it's success. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1482 Share on other sites More sharing options...
Henrywrites Posted June 28, 2018 Share Posted June 28, 2018 On 6/26/2018 at 9:39 AM, Martinsx said: Governments already knows that threat Bitcoin and other cryptocurrency poses against its fiat currency, and they are not willing to roll over and have Bitcoin and other digital currency take over the world financial market. This will reduce their dominance and control in the world market, and as such they will never all allow Bitcoin and other cryptocurrency to proceed ahead of fiat currency. That's pretty sad that the government which is meant to embrace change is the one that is going against the same change. I am still optimistic that everything is going to work pretty fine with time which is awesome. Quote Link to comment https://slingbank.com/forums/topic/773-would-bitcoin-be-allowed-by-governments-of-the-world-to-progress-further/#findComment-1505 Share on other sites More sharing options...
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