Topic: A coin issued by some country government - would you go for it? - page 12. (Read 942 times)

Petro, a Venezuelan back crypto has already been launched. And they said that they are going to used it to trade specially to circumvent the trade embargo impose against them the US lead nation. Right now it has gain attention, but the big question is who the hell are going to used it? Can we go and register an account to local Venezuela exchange and buy/trade it? And how you do trade for other nations? They say they have been trading it with Russia but I haven't seen any concrete evidence to back up this claims though.

just want, as long as the fee for each transaction is not too big. because a large fee will greatly burden its users.

i dont think so... until and unless government issued coin has a great value / USP against bitcoin..

Yeah it might be an interesting idea to purchase the government backed crypto because the government issued cryto is bound to get to the mass adoption stage quickly with banks and retailers jumping into it - ultimately driving the public to use that crypto to trade

It will being an interesting thing for us to invest legalize bail already on hand. For all this time, crypto hasn't been accepted because the validity in eyes of half government so people lack of belief. If the government already take out of course it will invite many investor. But i will ask for the tax i haven't get any imagine about that. Currency before will still populer in half of people but little currency maybe will be disappeared.

Well if there is no law or high fees in using probably yes I would go for it and I agree with the statement above wherein even it is issued by a country still it will be used globally. But it is a government so meaning for sure there's corruption and in my opinion once they introduced their own crypto they'll try to manipulate crypto industry within its territory such as exchanges etc.

If it United fucking States of America, then no. Other countries? Maybe. But probably I wouldn't care. It's crypto, do you know what that means? It can be used globally by anyone, anywhere. No one can stop that. And FYI, there is no respectable country. All of them are shit filled countries. And it won't get more attention, don't you worry.

Imagine if a state announced it would enter the search engine business to compete with google. Or if the united states federal government proposed plans to enter the electric car market to compete with Tesla and Elon Musk. I think the response to those plans are what most would expect from a government entering the crypto currency world.

The main issue with many state run programs is they lack incentives to be efficient or cost effective in a way which would make them competitive against private sector entities. The state has a lot of clout but there are no metrics in place which would allow a person to determine how effective or ineffective tax revenues are being spent. Politicians tend to be entirely computer illiterate, economics illiterate, war and defense illiterate. They're often entirely at the mercy of analysts, campaign contributors, special interests or advisors as they themselves do not comprehend issues like net neutrality.

Part of the reason for bitcoin's success could involve people losing faith and confidence in governments to solve problems. In the USA the government has spent trilions attempting to fix issues like healthcare with little or no success. If the government released a crypto currency, there wouldn't necessarily be any real support for it. Not when the USA and european union are trillions in debt and not giving much indication that they are capable of successfully running things without destroying economies of their own country(if that makes sense).

If it does happen then probably people will start to get it since it has security with your investment, and you would have someone to blame with if that coin has to fail at something.

A country own cryptocurrency is not really a bad thing .  It also still signifies that  cryptocurrency is being accepted by many governments. Though, I have heard that some countries have started this, but don't know how true this is. This development will improve the financial state of the citizens who invested, if implemented. But I personally won't invest in such currency,  cause it will be more centralized.

Lol, if that happens, I think that it can only result to bad out comes since it is pretty obvious that when they do this, they will clearly ban other crypto currencies out there so people would be using the crypto currency that they will be promoting. And they would probably be going for a centralized and heavily monitored type of crypto. It would not be any different from fiat that we use on credit cards or anything of the sort.

NO, i am not interested in that. It defeats the purpose of decentralized crypto. It would have to permissioned on some level. You have that now, it is called fiat and is just a number in a system. It would be the same with goverment issued crypto

The purpose of investing in crypto currency is to get reasonable profit as compared to solid asset like gold and silver.Instead of checking his origin,you can check the number of investors in that coin,you won't lose the investment if you had try this.Only you had check this, will give some profit.

A cryptocurrency backed and issued by the Government to launch a bounty? that won't be possible, bounties are from ICO (Initial token offering) in short token sale or crowdfunding, they need funds and support to launch their project and tokens developments, bounty campaigns are one of the methods to promote and ICO, it is well likely that Government have enough funds to develop and launch a coin and platform.

Their is no use to consider the country behind the coin and person who had invented it.I will just check,whether it had potential to give some profit for my investments.Because it is my hard earned money,I don't want to inverse on any shit coin.You have to verify top to bottom of the coin before investment.

I would participate in a bounty program of such alternative currency, I think I would do well to make some money.

I really wouldn’t mind the least about the country behind the coin, all that I will care about is if I am going to be able to make some profits from investing into the said coin.

As a currency for storing savings of using instead of fiat (if it is accepted as payment in stores) - sure, why not. As an investment opportunity - naah. The government of a good state with strong economy will not be interested in fluctuations. It would probably do the best to keep their coin and thus the whole economy stable. It would be a lot like tether but safer and at the same time probably not such a popular coin in trading pairs.

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?

advancing from digital currency to crypto currency will require massive change of equipment and infrastructure
regulating and controlling it will also become a big discussion and debate
but making it centralized is totally against the idea of using blockchain

I believe this will happen in the future. I can see a lot of countries particularly in
Europe moving away from cash and more to digital currency, they may move
further to introduce blockchain based currency and it wont be a case of choosing
to use it because it will be the only option because it will be regulated, controlled
and centralised.