A coin issued by some country government - would you go for it? - page 5.

raven7886

legendary

Activity: 1512

Merit: 1041

Quote from: Crypto24hrs on May 31, 2018, 03:17:16 AM

I will definitely go for it because it means that such a coin has got a guarantee to stay but as for weather it will gain more attention than some of the big coins today will solely depend on the economy and industrial power of the country in question, how influential they are will be a determinant factor

Are you serious right now? Then what are you doing there if that is what you want? Hold a centralized coin that is eventually controlled by the government? What is the difference holding your own currency then and saying you want to invest in it? Let's be realistic here, a lot of us are here just because we simply enjoy the idea of decentralization and not because we just want to invest in anything we see. A coin issued by the government is no different to fiat.

Quote from: jamesclark on June 12, 2018, 06:30:19 AM

I'm wondering for what purposes they should issue a coin if they have already there own currency and stable economy

No, we cannot assume that. Even bitcoin will be finding more success which will definitely trigger such thoughts to governments. We can expect some government to come up with their own coins in near future. But the success of those coins will not last as per decentralization principles.

jamesclark

full member

Activity: 308

Merit: 100

I'm wondering for what purposes they should issue a coin if they have already there own currency and stable economy

gambitcoin53

member

Activity: 378

Merit: 25

Quote from: PinkFox on May 12, 2018, 12:52:27 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 so, considering it came from governments, it is definitely legal in any way, therefore, many people especially on that nation will undoubtedly put in more money or invest in that coins, having high trust rating, surely it will have an edge over its rival crypto, as for drawbacks, maybe in terms of how long it will circulate and how will it co-exist with international government-made crypto. it will create more competition resulting low value on the market.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

Quote from: berungan on June 10, 2018, 06:28:40 PM

it may be that security in government investment is safer than in bitcoin, but I think it will depend on the government. they certainly make certain regulation, which is definitely not the same as bitcoin.

Bitcoin is already secured but i think the coin which will be issued by the government will be more secured.For me,i would rather buy them both,bitcoin and the coin issued by the government.But i won't leave bitcoin behind because it's still the most trusted crypto currency all over the world.And this new coin has no guarantees that it will also lasts long like what bitcoin did.

berungan

newbie

Activity: 124

Merit: 0

it may be that security in government investment is safer than in bitcoin, but I think it will depend on the government. they certainly make certain regulation, which is definitely not the same as bitcoin.

the13thsymphony

jr. member

Activity: 297

Merit: 1

The problem here is that the tokens that is controlled by the government is still prone to corruption which cannot be traced. For instance shade transactions in customs which cannot be traced because of the blockchain technology that is used by corrupt goverment officials which they fully control. It will be much harder to control and trace.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

The only reason a government would use 'blockchain tech' for their own coin would be to make their existing policies - inflation, debasement, control, surveillance - easier to execute. Combined with cashlessness it would be nightmarish and you wouldn't have a say in the matter either.

camito

jr. member

Activity: 301

Merit: 3

DAEFROM.com

I personally think that issuing coin by a country government would be very useful to its countrymen living in that certain country. It can be used in transactions and as a currency on that country. Its legality will be official and there will be no scam in this project, but still there will still be chances that that government can manipulate this coin, the anonymity will be out of place in this case and assets will be tracked by government. It both have its pros and cons.

I would definitely invest some but I would still invest more on bitcoin and altcoins.

pixie85

hero member

Activity: 2184

Merit: 531

No, I'd never buy a coin issued by the government. I wouldn't feel safe knowing that the coin can be manipulated and that the government will be able to destroy it if it decides that it was a failed experiment. What if there's a war? My decentralized cryptocurrencies will still be valuable but the government coin won't be.

Keyboard PC

hero member

Activity: 924

Merit: 500

if the government has a coin that is very useful for the people and can be the right solution and can provide a lot of benefits for those who have the coin, when the coin can be like that then I will buy but if not profitable maybe I will not buy it.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: Google+ on June 10, 2018, 11:50:16 AM

if the coin has developments and products that are really very useful for the people and can provide or be a solution of some problems and can provide benefits then I will buy it but if it is not profitable then I will not buy.

If the essence of this aid coin is really for the benefits of the nations and it will be use inside the country then I'll take the risk, it will open the door from each country to adopt the chain, and allow fiat and crypto to work alongside of each other, coins can be use as an alternative to digital services and cashless transactions, looking forward to see who's going to take the first step and begin the journey using blockchain system.

cryptocurrencyguru

member

Activity: 280

Merit: 11

government issued crypto coin is equivalent to the market fiat currency in digital form so there is no much difference between fiat currency and govt owned crypto coin

Google+

hero member

Activity: 2464

Merit: 550

Leading Crypto Sports Betting & Casino Platform

if the coin has developments and products that are really very useful for the people and can provide or be a solution of some problems and can provide benefits then I will buy it but if it is not profitable then I will not buy.

komrobert

full member

Activity: 266

Merit: 100

I travel sometimes and if this coin will be issued by some country I love - I will go for it, why not? Don't see anything from with that.

naidray

legendary

Activity: 1232

Merit: 1029

Quote from: EnricoGomez on June 07, 2018, 03:35:04 AM

I totally would.
If a government would issue a cryptocurrency, that would mean that the country is transitioning over digital money with the purpose of convenience and benefits over the traditional fiat and ideally to be used widely on the area.
I do not think that there is much of a choice except to go with it, the government is powerful.

Except that I am 100% sure it would not be a cryptocurrency. I guess some of you must have forgotten that the ideal meaning of cryptocurrency is something that is decentralized and not controlled by any form of central bank whatsoever, and in that case, we all both know that no government is going to be creating something they are not going to be able to control.

In the case where it comes as a decentralized currency though and it is a country with a lot of prospect and need to create a huge demand for the currency, then it may be worth considering but we sure do know that is a dream that would not come through.

bitadviser

member

Activity: 203

Merit: 17

nah, all crypto currencies should be open for the world, it is decentralised thing, so we have a new way to make a new world, with a new economic model, with new progressive system of government, the national coin is the way to contol it by its country

andrei56

sr. member

Activity: 840

Merit: 254

Quote from: Palodar on June 06, 2018, 06:27:16 PM

Quote from: andrei56 on June 06, 2018, 05:49:16 PM

Quote from: PinkFox on May 12, 2018, 12:52:27 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 does not matter what country creates a cryptocurrency I will never use it, the first cryptocurrency bitcoin was created by satoshi as an effort to get away from the current economic system, and I'm not going to begin to use a cryptocurrency that is nothing more than a fiat currency that is designed to keep us captive of a system that is institutionalized fraud.

I don't really want the government get involve in crypto since they might make some manipulation to their people, but if they will make coin that can do easy access on government facilities or will implement wide use it will be a good idea tho.

It will be just like fiat so it is likely you will be able to use it for everything, so many people are going to be deceived by this, thinking this is an even better version of cryptocurrencies but nothing could be further from the truth, when the system begins to collapse we will see the difference between those cryptocurrencies and the real ones like bitcoin, this is going to be similar to what it is going to happen to those holding paper gold and those holding the real thing.

bittraffic

hero member

Activity: 3038

Merit: 617

If the coin is using blockchain or even an existing chain today, I think I would use it still after all blockchain is blockchain and I'm always going to be a fan of it.
A governments issuing a coin is definitely a very exciting government. Their central bank would be open to also allow let us buy btc on them, wouldn't they?

drachman

sr. member

Activity: 756

Merit: 252

Quote from: Dudeperfect on June 01, 2018, 12:11:22 PM

To be honest, I would definitely use it because the government would take a step further to optimise the potential of traditional fiat currencies so if it would definitely have more benefits as compared to that of the current Fiat payment system. However, I won't call it a truly decentralized cryptocurrency because even in the worst case government will never share the control with anyone else so even if it is on blockchain it doesn't mean that it is decentralized. There will be people who will always use pea and currencies irrespective of the benefits of cryptocurrencies and if it is from merchant side then as the user we have to reciprocate the payment method of their convenience.

A cryptocurrency created by a governments could have some benefits that is true, but the problem is they will never let themselves be audited, we will never know the exact code behind the coin and whether they can know everything about what you do in their network, which by the way is very likely, and even if the code was clean there is no guarantee they are not going to change it in the future.

nl247

full member

Activity: 518

Merit: 145

Quote from: kimochidesh on June 07, 2018, 01:18:06 PM

Yes, definitely I’ll buy it. I mean obviously I will anticipate first its potential, the idea, how it works and everything, but since it will be issued by government there will lot of advantages. The coin will remain stable since it is backed by government. There will be less pumps and dumps and more profits. So we would be able to invest in that coin more confidently without fearing much about uncertainties.

What is the essence of buying and holding, when you already know it is centralized and controlled anyway? It is just more like you saying you are investing in USDT when of course you know the value is not going to change from 1USD. Sure there may be fluctuations when compared to other currencies in its category, but that is actually what it is going to be good for, which is trading. If that is what you are looking for, then you could have as well just stayed in fiat and not be holding any cryptocurrency at all.

Topic: A coin issued by some country government - would you go for it? - page 5. (Read 960 times)