Topic: A coin issued by some country government - would you go for it? - page 11. (Read 942 times)

well, I do not like an idea that being controlled by using government's cryptos, especially my government's crypto. My government is not good and they try to do anything they can to steal the people's money. And it will become a nightmare if they start the cyber network money. It will be easier for them to take away our money

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.

There is a high possibility that that coin will pass other coins price but I believe that it cannot pass the top 3 coins leading or even top 5 because the top 5 coins gets support from the whole world and the possible coins you are talking about will just support by one (1) country.

If it would be a coin issued by my own country government, I think I would support and invest in it. But if some other country, I would think.

There is a lot of talk about that these days, as some countries show interest in crypto and specially in creating their own version of it. The thing is, you can't really compare the "typical" cryptourrencies, that are decentralized and independent, thus not controlled by any country. That is the key aspect of cryptocurrencies and a e-coin issued by any state or country would never have that.

I still think it would be a great idea, and it would still bring more transparency to that country's economy. It all depends on who would control it and how. If it was completely controlled by the government and not banks, that are usually private, then it would result in tremendous power for that government, and if it was corrupt it could end up badly.

As for those that are saying that any government that had it's own coin would completely ban the decentralized crypto, I just say that I don't really believe in that. They could try to do it now and they are not doing it, so nothing would change.

As for adoption, of course it would be huge, but that doesn't mean that the coin would be valuable. All currencies represent the economic power of a country, so it would only be as valuable as that country already was. I also doubt it would be scarce (and probably there wouldn't be any mining involved as well), so from that point of view, it would be just like fiat.

I think that it would totally depend on the country that will issue a cryptocurrency in their own. So I would for start look on their life level.

yes, there are some drawbacks like since it is a government project, there would be some issues on anonymity of users and holders, they can easily tracked down the users and taxed them with a pretty much fees. but in the other side, since it is from the govt, there would be no issues on legalities and legitimacy of its ICOs. just like when we first knew about bitcoin, we took the risk, maybe it will be the same with govt coins. its your choice to venture or not.

Government cannot issue  coin or crypto , while its fact that it will have a strong support system just like in bank , the bank of the government will never be or impossible to be a bankrupt. BUt the thing in creating cryptos of government is different thing, crypto companies are private and will never be in government, why ? government will not put a budget in crypto for the mere fact that they already inside the stock market, it will be ahassle for them to create a company or it will not abide the law for government to create a company. these thoughts are based on my own idea and some researches.

Well at that moment we may have big trust factor. As it would be allowed and offered but the government so we may trust them. We may input our money in that coin because we have surety it would never die and it could be potential coin for us. But still, as the expert says, don’t just believe in others. Keep a good research for you and only then take a step in something you want.

Although what you said is true but consider the loop holes of decentralizing local currency and I believe that it will create chaos because the number would become limited and does not compensate on loss coins. Also, consider the fact that it would need machines for mining or confirming transactions would be very much expensive specially on hot places.

I guess it is depend on the country if you are investing in ICO of that cryptocurrency you will notice first the agenda of the tokens or the coins that they are releasing in that moment you will be sure if that is good. Things that are legal is not always good.

Never. Government should not control our money. That's why crypto was created in the first place. I don't see the point in returning back to centralization

Well, the only reason I would go for it is for pure speculative power. It is the same reason I bought a few tokens like Ripple and Verge, issued by entities I know will manipulate the price. Go in for the profits, leave before they ruin the project. Yes, that means I will never hold those tokens, but it does not mean I will not buy them to make short term profits.

Why not ,if profitable then everyone will go for but it will be difficult for crypto whale to manipulate it fully as more stock tycoon will also indulge them in this . Major country will not do it full decentralized they might add some restrictions to it and take it as tax income for government expensive.small country might do it as decentralized fashion but for now we are not seeing that much hype around it as some of them have issued their crypto currency.

I will go for it as long it is within my country. I think that is good. For me it means cryptocurrency is already legal in our country. There would be advantages on it. If coins cyrptocurrency is issue on our country and issue by the government I will support it. I may think less about scam if that's happens.

It would get attention but only for their countrymen, maybe there are people who would notice it but only few. The coin would be made by our own will surely supported by the people living in this country.

in many countries today is still largely considered bitcoin is an illegal transaction. It is not impossible that they will come to legalize bitcoin because everyone is wearing it. The government of course does not make bitcoin as their currency but as an investment tool only

Hell no, why anyone would choose to use a centralized, government issued cryptocurrency over a decentralized, community based crypto like bitcoin is completely beyond me. I would say that 90% of the community here would agree with me on this.

If a government did decide that they wanted to issue a crypto of their own, they will certainly retain all the necessary controls over this currency economically, just like they do with fiat currency as they are able to manipulate whatever aspect of it they like.

What's the point of using a centralized crypto? I don't get it. It's literally the same as what fiat is right now, except on a blockchain.

i think not at all. cause government is controlling the price so they hold it in their hands so have a full control with price so we are nothing to do to wait them to pump or dump it. we  can not assure that government will become true to us all the time so why we should trust in coin that made by government. think about it. they are more tokens and coins that non government made. so why we should settle for less right someday we will find out

if it's created by government I won't put it, I believe the coin will be centralised and we won't have any freedom to used it, there will be trackers and documents that need to submit to buy, and I will choose other investment if I got to choose centralized investment like real estate or gold