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RE: Is BTC Dead?? | ETC Airdrop CLO coin | More Countries want Crypto
Centralized controlled blockchains will still count as cryptocurrencies. In fact, it will make current blockchains way more legitimate if countries are backing their own. People will be more likely to trust coins if the establishment embraces them.
I think this may have been part of the plan all along, let the public carry the cost of developing a lot of the core technology, then swoop in at the last minute and copy-paste all of the best features of every public coin when you're rolling out your own private network coins. At least the governments of the world are trying to save some money for a change, lol.
I do not envy being in the situations that a lot of people who live in countries where the government fears capital flight via crypto will have to deal with.
I think a small minority of users really care about decentralization or security, most will just use whatever is convenient or profitable.
Hopefully Ripple fully entrenches in the world banking system before this happens. I'm not looking forward to all those centralized blockchains. Ripple is plenty for me.
I really don't see why any country's banking system would use ripple. Countries like to control their own banks and how they operate.
Do they? I won't claim to know a lot about Ripple but I thought most banks were private institutions. Considering how government works with lobbyists and everything I'd assume that banks control the government, not the other way around. Even our "Federal Reserve" isn't controlled by the federal government.
Yes, they kind of control each other and cooperate with each other, but govs can def. crush any bank that steps out of line, and they play softball with them when it comes to legal matters because they do so much of the dirty work. Mutually beneficial relationship as I see it, they help run the empire and get a lot of perks in return.
This will maybe make the technology more legitimate and the state backed blockchains for sure, but they will still try to demonize bitcoin and other open and decentralized cryptos.
Yeah but the hypocrisy of government will be much more obvious when that happens. It's easier to get people to distrust all crypto rather than all but one.