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Central banks sit at the center of the financial world, and continue to make the rules and take control of the greater world economy. One of the questions that many cryptocurrency advocates are asking continues to be whether or not one of these central banks can adopt a cryptocurrency within the next coming year. Some of these advocates have stated that 2018 could be the year for central banks to begin adding bitcoin to their balance sheets. Many economists think that this is a long shot though given the amount of headway needed to make this a reality. The problem lies with the expectations from those using the two financial systems.

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Those who use bitcoin or other cryptocurrencies expect high returns from their investments in quite a short period of time. These returns can end up being in the hundreds of percents in only a month or even shorter. With central banks, there is no need for high returns, or a high level of anonymity. Because of these major differences, both industries really want nothing to do with each other. A central bank would not be able to function with the anonymity that the cryptocurrency world has, and vice versa. Let’s say a central bank decides to get into bitcoin and the coin manages to drop 40% in the course of a week or two.

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We just saw this happen with the currency, so it is not outwardly unrealistic. If this were to occur, the central bank would face a large amount of trouble and it could potentially wreak havoc on the greater world economy. The hopes are high that in the near future there could be some sort of system that would effectively be able to create a centralized system for the cryptocurrency world, but any type of system seems quite far off if even wanted at all.


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