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Bitcoin VS cryptocurrency for the central bank

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On 4/22/2020 at 4:30 PM, SuperCrypto said:

It has become known to us that central banks hate bitcoin BTC, and other digital currencies, because of their disruptive advantages, but these banks resorted to the idea of launching their own cryptocurrency in most countries of the world, so how will this affect Bitcoin and the rest of the market?
Do you think that the Bitcoin status of BTC will be bad during the coming period, due to the spread of the idea of the cryptocurrency linked to the central bank, or will it be a regular competition, we would definitely like to know your opinion?

This scenario can affect the price of bitcoin if those banks will launch their very own crypto currency because the demand on bitcoin will lessen after the launch.

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Central banks are considering creating their own cryptocurrencies to eliminate Bitcoin and other cryptocurrencies but I think they will not succeed in that

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I think that it will not be a difference between it and what the competition used to be before, but I think only that it is possible to take advantage of these digital currencies that the banks launched in the first in Tatir on Bitcoin or digital currencies in a positive way, I mean, will accept the most of the investors to trade
This will also lead to the prosperity of the electronic market, although it is possible, in doing so, to destroy some other currencies


Учитесь, учитесь и учитесь на своих ошибках :classic_smile:

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Yes central bank hate cryptocurrency  , because they see bitcoin and the other cryptocurrency start to take a place of the real currency , they have a lose about this , but the are start to create their coin , to solve this problem . But my friend you have to know that bitcoin is one of cryptocurrency .

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Those central banks action will have to pump a lot of volume into their coins if they really want to create their own coin, but they wouldn't think of beating Bitcoin off it's position.

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On 4/22/2020 at 1:00 PM, SuperCrypto said:

It has become known to us that central banks hate bitcoin BTC, and other digital currencies, because of their disruptive advantages, but these banks resorted to the idea of launching their own cryptocurrency in most countries of the world, so how will this affect Bitcoin and the rest of the market?
Do you think that the Bitcoin status of BTC will be bad during the coming period, due to the spread of the idea of the cryptocurrency linked to the central bank, or will it be a regular competition, we would definitely like to know your opinion?

Central banks can not affect the crypto negatively. If they develop their own coins, they will waste their times because any coin which has connection to banks, is nothing but fiat! and you can see today that fiat has not been able to stop the rapid progress of cryptocurrency. Competition is when two coins are similar. A centralized coin can not compete with a decentralized coin because they are totally different in nature. Cryptocurrency is all about cryptography and this concept is based on encoding and privacy. If central banks launch digital coins, any bank that runs under the supervision of a central bank can penetrate and check the coins and any transaction related to them. This is something no crypto user will accept. Another thing that is missing in bank regulated coins is the trading profit because bank coins will not be tradable due to strict control of supply.

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as far as I know banks does not like bitcoin or any other cryptocurrency which has the same vision as bitcoin because this is dangerous for banks and government as well 

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3 hours ago, Brushless4500KV said:

Central banks can not affect the crypto negatively. If they develop their own coins, they will waste their times because any coin which has connection to banks, is nothing but fiat! and you can see today that fiat has not been able to stop the rapid progress of cryptocurrency. Competition is when two coins are similar. A centralized coin can not compete with a decentralized coin because they are totally different in nature. Cryptocurrency is all about cryptography and this concept is based on encoding and privacy. If central banks launch digital coins, any bank that runs under the supervision of a central bank can penetrate and check the coins and any transaction related to them. This is something no crypto user will accept. Another thing that is missing in bank regulated coins is the trading profit because bank coins will not be tradable due to strict control of supply.

I think no matter how central banks try to kill the idea of cryptocurrencies, you will not be able to move forward with this, although China has started the idea of launching the cryptocurrency linked to the People's Bank of China, and has now reached the final stage of the digital yuan, but this currency will remain centralized and not compete with true decentralized digital currencies.

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On 4/22/2020 at 6:59 PM, Syed Al Mamun said:

Actually i think it's not a discussionational issue that even the central bank lunch the own Crypto currency. Bitcoin is the father of Crypto currency, so it's all in all in the Crypto currency industry.

That's right no need to explain more or no need to have a debate about that bitcoin will always have a potential when it needs to choose between any cryptocurrencies or coins. 


Free satoshis and bnb every 20 minutes here: https://betfury.io/?r=5fadf2e24229531209b94c8c

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Not every bank hate cryptocurrencies, in some countries there are already banks which are accepting cryptocurrency, so we would definitely have more banks like that in the future.

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They will continue to fight Bitcoin, of course, because they are trying to control it and benefit from it as much as possible, but that is not possible for them, they will continue to create currencies to compete with him, but only Bitcoin will remain in the end according to my opinion.

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On 5/3/2020 at 4:41 PM, Nezar said:

Most banks hate cryptocurrencies because it is an unstable currency that cannot be controlled or followed, which is why banks do not prefer cryptocurrencies and create their own currencies so that they can control their salaries.

Yes indeed some banks hesitate just cryptocurrencies as you above said reasons. But no doubt there are still some banks like National Bank of Canada, Revolut etc adopted cryptocurrency. 

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I think it will be a regular competition because I don't think there is a currency that will beat Bitcoin because it is the oldest and most popular currency among all currencies.

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I don't think that the coming of a new project by the central bank will affect the price of bitcoin or anything that has to do with it but rather it will even strengthen it and also make it more stronger and demanding in the cryptocurrency market.

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Banking currencies will not significantly affect Bitcoin because it will keep the strongest and best currency in terms of features and banks cannot compete with it at all.


 

Life is great and enjoy it

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Banks don't like to whole market of crypto because these currencies are unexpected dangerous for banking system that is why they don't want crypto market because their business activities are less then before crypto market like saving account and international remittance also.

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Of course, the banks will reject Bitcoin because he dispensed them as a broker for money transfers and freed people from their fees and restrictions, It has intended to launch its own digital currencies, but in my opinion it will fail because it is in all cases centralized or will be affected by centralization. On the contrary, the coming period will be good for bitcoin due to the increasing use of it and the number of its users.

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In fact, it seems to me that Central banks do not consider bitcoin a bad cryptocurrency! They just develop in it, creating their own coin, which will also bring them profit, because it is much better than getting nothing! To be honest, this is a very muddy topic, on the one hand, it seems to be a good position, but on the other hand, well, it's not objective!

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Central banks have an issue with the new found world of exchange, the central banks , all over the world , are founded on fiat exchange and thats how they control everything.

How ever if they cannot control the coins that we have, they tried getting them through the main stream media and it never worked, though with time they have been able to establish the only way to take control of this space is to organize your own, and 

true they have been able to build their own crypto currency. Most people touted that its ripple, but am sure its not. its another coin. well

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Central banks will never link with crypto currency because central bank regard bitcoin as non currency because it was not approved by any authority but they forgot that money must not really be accepted by the authority before it becomes real money if all people make use of it in transaction regardless of weather government accept it or not is still a money .and if you look at every nation more people are getting into the crypto currency industry.

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This is a danger of making bitcoin used only by a small number of people and may create problem to the price too. It is a great technology still but if someone make something better it will be used instead of cryptocurrencies.

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I don't personally think the idea of those central banks launching their own cryptocurrency would be a good idea because now, bitcoin is still gathering its popularity to all of the users in the crypto world which means that it could take time for their own cryptocurrency to become relevant to the level of bitcoin. I kind of thinks its a prettry bold moves since you know that your enemy is in another type of world which you cannot defeat unless you go through its own dimension. Since they managed to create their own cryptocurrency this could also mean that they are accepting the possibility of cryptocurrency replacing the currency that we already have.

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This won't affect bitcoin. They all will co exist and co operate each other. It looks like Crypto currency can't be fully centralized nor people will let it be a fully decentralized. Both have advantages and disadvantages. So it will be better to co exist with each other.

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On 22.04.2020 at 11:30, SuperCrypto said:

It has become known to us that central banks hate bitcoin BTC, and other digital currencies, because of their disruptive advantages, but these banks resorted to the idea of launching their own cryptocurrency in most countries of the world, so how will this affect Bitcoin and the rest of the market?
Do you think that the Bitcoin status of BTC will be bad during the coming period, due to the spread of the idea of the cryptocurrency linked to the central bank, or will it be a regular competition, we would definitely like to know your opinion?

wow, what an interesting topic it will be very interesting for me to read the answers and draw certain conclusions for myself. Thank you for creating this topic, very relevant

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 I don't think it will have much impact with respect to bitcoin, because if the bank launches a digital currency in the same way it would be regulated and one of the strengths of bitcoin is decentralization.

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Thus, 100% of trend indicators and oscillators on D1 point north, with 15% already in the overbought zone. It should be noted that if the green/north color of the indicators for the euro and the British pound indicates their strengthening, in the case of the yen, it conversely indicates its weakening. Therefore, traders may find it interesting to pay attention to the EUR/JPY and GBP/JPY pairs, whose dynamics have been impressive lately. The nearest support level is in the area of 156.25-156.60, followed by zones and levels at 155.50-155.90, 153.10-153.60, 151.85-152.35, 150.80-151.00, 149.70-150.00, 148.40, 147.30-147.60, 146.50. The nearest resistance is in the 157.40 zone, followed by 157.70-158.00, 158.60, and 160.00-160.20.   No significant events or publications regarding the state of the Japanese economy are expected next week. CRYPTOCURRENCIES: Bullish and Bearish Ethereum Prospects   For the second week, market participants' attention has been focused on the main altcoin. 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Davis believes this impressive figure clearly indicates growing recognition of cryptocurrency and interest from institutional investors, especially from the US.   Strike CEO Jack Mallers predicts that during the ongoing bull rally, bitcoin could reach $250,000 and possibly rise in price to $1 million. On a podcast with Pomp Investments founder Anthony Pompliano, Mallers explained his bold forecast by stating that bitcoin is still at an early stage of development. According to him, the bond market is currently facing problems, so central banks may inject a significant amount of liquidity into the financial system to stabilize it. This liquidity influx will trigger an increase in the value of risky assets, including the leading cryptocurrency.   Jack Mallers disagrees with the notion that bitcoin is a bubble or a tool for speculation. The asset is becoming increasingly popular among financial giants on Wall Street, and its limited supply of 21 million coins makes BTC highly resistant to inflation, unlike fiat currencies and gold. "Bitcoin can be called the hardest form of money – thanks to the fixed issuance schedule and halvings every four years. The release rate of new coins gradually decreases, thereby increasing bitcoin's long-term value," argued the Strike CEO.   Analysts from financial investment company Motley Fool also target a six-figure number. They suggested that bitcoin's rate could rise to $400,000 and possibly even reach $1 million. The reason, which has been mentioned many times, is the influx of money from institutional investors through spot ETFs. Motley Fool analysts noted that more and more pension funds and hedge funds, managing multi-billion dollar sums, are entering the bitcoin market. Thanks to cryptocurrency ETFs, they can easily include bitcoin (and soon Ethereum) in their investment portfolios.   According to analysts, around 700 investment companies have already invested in such funds. Nevertheless, the share of institutional investors in bitcoin-ETFs is currently only about 10% of the total. Motley Fool estimates that if financial institutions invest about 5% of their assets in bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion, which explains its forecasted rate of $400,000.   Considerably less optimism was heard in the forecast of Bloomberg senior analyst Mike McGlone. According to him, bitcoin's volatility leaves it trailing gold and the US dollar in investment appeal. Furthermore, he believes that stocks will soon crash amid the expected recession, but BTC will suffer even more than the stock market. McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
    • Крупный банкир получил тюремный срок за криптомошенничество   Бывший инвестиционный банкир Рашон Рассел приговорён к 41 месяцу тюремного заключения за мошенничество с использованием цифровых активов. В результате расследования правоохранительные органы США выяснили, что обвиняемый начал опробовать свою мошенническую схему на друзьях, бывших одноклассниках и коллегах по работе в криптофонде R3 в ноябре 2020 года. Рассел обещал им гарантированную доходность инвестиций от 25% до 100%. Чтобы его слова были ещё убедительнее, он пустил в ход свой опыт инвестиционного банкира и сфабрикованные документы (поддельные счета, переводы). Сначала он использовал часть полученных обманным путём средств для выплаты долгов более ранним инвесторам. Остальные деньги Рассел тратил на азартные игры и поддержание роскошного образа жизни. Такая мошенническая схема работала до августа 2022 года. В апреле 2023 года Рашона Рассела арестовали, а в сентябре он признал свою вину. Тогда же выяснилось, что Рассел незаконно приобрёл около 100 кредитных и дебетовых банковских карт на имена других людей. По мнению следователей, он планировал использовать карты для проведения транзакций с полученными незаконным способом деньгами. Минюст США подсчитал, что потери инвесторов от мошеннической схемы Рассела составили $1,5 млн. Именно эту сумму подсудимый должен выплатить своим жертвам в качестве компенсации. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2428894
    • CryptoRank поделился списком крупнейших разлоков июня.        Будьте осторожны в отмеченные дни, ведь увеличение предложения может вызвать давление со стороны продавцов. ARB — $105.21 млн;APT — $103.03 млн;UNI — $87.93 млн;STRK — $75.67 млн;DYDX — $66.3 млн;SEI — $63.81 млн;ID — $55.82 млн;IMX — $54.96 млн;MERL — $42.21 млн;ENS — $36.65 млн.  
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    • В Татарстане построят майнинговую ферму стоимостью $100 млн   В Иннополисе, городе высоких технологий в Республике Татарстан, реализуют майнинговый проект стоимостью $100 млн. Об этом на криптофоруме в Казани сообщил заместитель премьер-министра Татарстана Роман Шайхутдинов и заместитель министра цифрового развития, связи и массовых коммуникаций РФ Александр Шойтов.     В 2023 году Россия поднялась на второе место по майнингу криптовалют. По оценке экспертов, в майнинге может быть использовано до 5 гигаватт электрической мощности, что позволит стране занять лидирующие позиции в отрасли, — сказал Александр Шойтов.   В середине февраля компания по добыче биткоинов BitRiver также обнародовала планы по запуску крупнейшего в России дата-центра, ориентированного на искусственный интеллект.   В РФ пока нет чётких правил по контролю майнинга. В конце апреля российские законодатели представили новую версию законопроекта, направленного на регулирования рынка добычи криптовалют. По словам одного из его авторов, правила могут вступить в силу уже в сентябре этого года.
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