Banking is already being centralized. Here in Holland there a banking product called iDeal .. fascinating product and example I have a paid up mastercard that I use for internet transactions.. Allows me to have a little money when I need it for some program related to android system.. small amounts.. to put money on my credit card i go to the credit card web site click upload money, because I have used iDeal in the past it takes me there I enter the amount I want to transfer and then my banks name results are that I am provided a series of numbers (algorythem generated) I put my bank card in my e-identifier enter may pass word so the machine knows it is me and not some their that stole my card. I enter the number sequence I was given ,, the e-identifier generates a different set of numbers that I enter at the website ,, if I entered the correct number (to error is human) moments late I am told thank you the transaction is complete. At that point I look at my card balance and the funds are totally available for use. This is process takes less than three minutes total.. the company issuing the credit card is in England.. As I look at it the banking situation the banks at east here in Europe are all linked via computer and an interbank net. Actually the same is true in the US also.. Effectively we already have centralized banking, this banking system is regulated by different governments that over see the banks.. by mutual agreement funds are transferred between each other. If we look at bitcoin.. when I tried to create a wallet,, I was denied access I did not have enough of whatever. It was also tied to the US Dollar. meaning what ever the US Dollar was valued at on the world market that was to be the value of the bitcoin.. for me translated I could create a silver chain for around $100.oo or 100 bitcoin . I would cover my cost and make a small profit. at the time there was no way to retrieve it US dollars, but that did not matter,, as other merchants came on line I could spend my bitcoin currency. Potentially it would have been fun as I was not depended on the money to live, I can afford to replace my silver and postage out of pocket and see how it developed.
What has evolved with bitcoin is an electronic currency that is out of control and tied to nothing of value and backed by nothing except people saying this is what it is worth..(there are cost involved in electronic banking and someone will have to be paying the freight,) Government including large ones have banned transactions of bitcoin on all levels. The basic idea is good,,, a bitcoin by it design is still only worth one dollar not what someone with more cash than brains (drug cartels) want you to believe it is worth. International banking is here to stay.. the real question is how do we control the morality of those running the banks? Matrix -- Soul rules the body ( -- Do No Harm ) [_D Allan H -- --- You received this message because you are subscribed to the Google Groups ""Minds Eye"" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/groups/opt_out.
