A coin issued by some country government - would you go for it? - page 10.

BitProNews

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Quote from: squatz1 on May 14, 2018, 10:59:41 PM

It really depends on the coin itself, the government backing it, and if it is actually being used by the people. Because lets just say that the US government replaced the US dollar with a US cryptocurrency dollar, then yes I'm most likely going to use that coin without a fuss at all (given that the coin itself is as accepted as USD and there is no problems with it) So yes, in that case I would go for it.

If we're talking some random country that isn't going to help me at all, then no I'm not going to get involved with that.

It's barely inapropriate to make the comparison between usa and other "random countries" and between btc and usd; bear in mind that all governments (banks behind) are sheeting us by the actual financial system even it looks strict and useful but imagine how much usa print paper dollars to finance its policies and how this effect every single earning in the planet (mondial inflation) so all the governments are sheeters and this is why born bitcoin and cryptos!!
No comparison at all between btc and usd because no one of them can replace the other. 1 Btc should cost more than 100m$ if you are willing only to replace the circulating dollars, and dollars besides can't be the solution as it was the problem since ever.

squatz1

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It really depends on the coin itself, the government backing it, and if it is actually being used by the people. Because lets just say that the US government replaced the US dollar with a US cryptocurrency dollar, then yes I'm most likely going to use that coin without a fuss at all (given that the coin itself is as accepted as USD and there is no problems with it) So yes, in that case I would go for it.

If we're talking some random country that isn't going to help me at all, then no I'm not going to get involved with that.

faceoff97

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Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?

Why not, It will surely have a good value and stable price. It might also reach bitcoin price easily. Having coin from government also will help people to easily accept the technology about it. Cryptosystem will also be popular and would make big effect on other coins. Possibly all coins would also increase its demand and become very popular.

jblittle00

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I have to agree with some of the comments here, that I would be adverse to purchasing a crypto-currency from a specific country. Although I believe it's the direction we're headed towards anyway, because governments will eventually "join'em" if they can't "beat'm", it pretty much defeats the purpose of a government-free, bank-free, Facebook-free economy. Imagine who you'd possible want to buy a coin from? The U.S.? Russia? The Middle East. I wouldn't trust it or want it.

DiabolicAnt

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Yeah, why not? Especially if it will be a coin from a country with stable and developing economy!

TravelMug

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Quote from: veejay2716 on May 14, 2018, 05:43:01 PM

It depends upon the coin on how it gonna be accepted by crypto market and the government would really allowed and protect this from scammers.

So it would be centralize then?

However, just for the sake of testing it? then why not? I will give it a try and see how this crypto will do. But if I see that it will eventually go to drain because no the population didn't give its support then I might go and exit early. We don't know if it will be successful or not, but it is much better to jump on the bandwagon early and get as much profit if you can.

As far as anonymity though, if it is back by the government then for sure they can scrutinize it anytime without you even knowing it so there is also a risk in your end.

veejay2716

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It depends upon the coin on how it gonna be accepted by crypto market and the government would really allowed and protect this from scammers.

Anarchist

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One of the ideologies of the cryptocurrency concept is to get back the control of your money without any bank or govt. (and using cryptographic protocol)
It's not using a secure protocol to help the institutions to have more control over you

Vannie12

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Once a modeeator asked if we needed ur own coin here in the country, I may have thought about the answer and I think I would say no.
I think to keep it solely in bitcoins and few altcoins is enough to make the Cryptos be a part of the future.

I think the creation of new coins will increase risk of scam. Anonymity will still make it hard for people to trust new coins ahead.

Notcalculator

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Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?

It depends on which government issued it and its motive on issuing it in the first place.
One drawback i could think of is that coins issued by the government is most likely politically driven. Meaning, its aim isnt to offer a decentralized solution, but maybe it's just more ways getting away with corruption.

Janation

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Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own.

There are some countries that legalized Digital Currencies and I don't think that is a "far beyond" to what we are doing now. If a country made their own crypto currency, I don't think that it will be as popular as we all know people are thinking that government are snooping to our transactions.

Quote from: PinkFox on May 12, 2018, 01:52:27 AM

It would surely be no scam and it would probably have a strong support

I don't think so. As I said earlier, people might think that the government are tracking our transactions.

Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Would it get more attention than some of the biggest coins now?

I don't know about that since most of the digital currency on the circulation has the feature of decentralization and volatility, since a government will be starting their own, they will be trying to control it taking away the decentralization and volatility of that certain digital currency.

BitProNews

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Quote from: Thirdspace on May 12, 2018, 01:17:25 PM

Quote from: BitProNews on May 12, 2018, 12:14:33 PM

However, what kind of benefits could be from a cryptocurrency created by a centralized authority? It would always be manipulated.

I was thinking the same, wouldn't it become centralized?
is it possible for a government to issue a crypto currency and keep it stay decentralized?

Of course it will become centralized by a supreme authority.
Yes, technically it's possible for a government to issue a crypto currency and keep it decentralized but this will generate no benefits for it. Governments and national banks will stand against any kind of freedom may be offered to it's citizens by any tool especially in technology because science can't be easly governed.

batang_bitcoin

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Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Would it get more attention than some of the biggest coins now?

If that country will strict in implementing and promoting their own coin then it will have more attention than the biggest coins. AFAIK there are coins that was into the same thought of being held by a government but most of them didn't reached success.

Quote from: Happydd on May 14, 2018, 11:10:14 AM

A coin issued by the national government will become the official currency. The money will be used in daily life, transactions and transfers through banks. But bitcoin in Vietnam is not issued by the national government or accepted payment.

This can only happen if they'll make certain government rule that is dedicated for their coin.

Happydd

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A coin issued by the national government will become the official currency. The money will be used in daily life, transactions and transfers through banks. But bitcoin in Vietnam is not issued by the national government or accepted payment.

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Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?

Hell No! I won't go for any coin crafted by a government. There will always be that control by politicians. And politicians are crooks. I rather swim with the whales than the political sharks. Just like the Venezuela Petro, I am sure many people are skeptical buying into it not because it won't do well but because of the massive and unrestricted control the country's politicians will have over it. Again, businesses are better run by private individuals, and not by government.

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Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?

It will surely draw support especially if the government will mandate it's use. I just doubt if their won't be any scam anymore, scammers are creative.

I also don't see any reason to acquire other country's currency if I'm not living in it, therefor making each currencies popular only in their country.

Ctn

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Quote from: PinkFox on May 12, 2018, 01:52:27 AM

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?

I think it will catch attention of most of the people around the world. But there are few things which it must contain, it must be more than a currency! It should have some function that can help the international people at something. Something like using it for the international transfers in the form of their tokens and thus not getting extra charged etc etc. Really there could be many more applications of that and this token can turn into some beauty to help investors earn something out of it. So yeah, it could be good deal but the country must let use it to internationals!!

Bezobraznike

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Quote from: BrewMaster on May 14, 2018, 10:08:18 AM

this whole topic is talking about a government issued coin from an investor's point of view but it is not the only way of looking at it. you can see it as another currency issued by the government. just like fiat people are going to easily use it so it will become popular at least in that country.

but also you should remember that these governments are issuing a "currency" not an investment an also it will be centralized. these two simple points mean such coins will be stable. so investing in them is not really something to be discussed! it is like saying will you invest in US dollar that US government issues?!!

You have good arguments. Investing in government crypto-currencie wouldn`t be an investment cause it`s stability, it
can be store of value for people who trust in it.
If government issue a crypto-currencie it will not a be a choice for people who live in that country to accept it or not.
Governments have ways to force people and companies to use it. There can be referendum before accept in it, to ask
citizens are they willing to go forward or not. I would vote for yes, better transparency, faster transactions, more safety
and bigger security, why would anyone say no to this things?

BrewMaster

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this whole topic is talking about a government issued coin from an investor's point of view but it is not the only way of looking at it. you can see it as another currency issued by the government. just like fiat people are going to easily use it so it will become popular at least in that country.

but also you should remember that these governments are issuing a "currency" not an investment an also it will be centralized. these two simple points mean such coins will be stable. so investing in them is not really something to be discussed! it is like saying will you invest in US dollar that US government issues?!!

breathlessz

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Quote from: cotton ball on May 14, 2018, 08:29:56 AM

this has already begun to be done by japan and venezuela, but in fact they also have to deal with the crypto market widely and most still use bitcoin in their ecosystems, so their altcoin still has to move to gain global confidence. on the other hand, they also will not be able to intervene anything.

both of that countries have different background. Venezuela is a country experiencing economic crisis, and Japan is a developed country that pioneered the development of cryptocurrency. even though their government issued its own coin but until now it still depends on bitcoin like other coins

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