Topic: A coin issued by some country government - would you go for it? - page 13. (Read 942 times)
In order to encourage more people to use cryptocurrencies, it would be successeful that a country adopt it but what kibd of use will it be for those crypto created by governments. However, what kind of benefits could be from a cryptocurrency created by a centralized authority? It would always be manipulated.
I will first take a close look on the coutry standing behind that coin, if it will be mine, I will doubt, to invest, or not to, lol
I think cryptocurrency has no effect on the losses of their country's currency. which the state government fears about the crypto-coin are a cybercrime and money laundering.
If a coin is issued by a country, then this country should give guarantees for the protection and security of its coin. How will the country ensure the reliability of the coin?
The coin will gain popularity very fast but trust me since it involves government the secular will not be even. 70% of the coin will go to the top government officials then there will be serious manipulation at the long run.
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?
Maybe but still this could not overthrown bitcoin from its highest place but government cryptocurrency will become popular to the investors because it is far from scam. 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's alreday happened in Venezuela and other countries, so it's definitely a valid question.
In short, no. I would personally never invest or use a cryptocurrency that is issued by a central entity, in this case, some government around the world. I personally think that it defeats the purpose of having crypto in the first place.
A centralized crypto like one issued by a government essentially is just fiat or stocks, just hosted on a blockchain. Decentralization is the real future, imho.
I think there would be some issues and drawback, One of the common issues I guess is the anonymity which something that the government can't offer. They'll have a hold of your info and your money.
A cryptocoin issued by a government may very well be a good investment and retain its value. But it would be at odds with what Bitcoin and cryptocurrency is general was conceived for. So I might buy it, but philosophically I would have reservations.
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?
Yes it will as most of its going investors will be on government it was expected annually since cryptocurrency is a good source of money capitalization or crowd funding that they will not needing so much money for them to use and they will go for an ico to make this things happens.I've read a news a while ago the is related to the topic.
https://kryptonexgroup.com/?clickID=5eweu5lekkxn&aff=&c=PH&tid=102f944a797b70fff4b5f6938fb2c9&aff_id=1209
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?
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