Topic: A country would have to be a damn fool to start a national cryptocurrency. - page 2. (Read 1677 times)

A don't agree. It will be new beginning for the Russia. There is an experiment with to many unknown things but, according to me, with an positive end. Remain to see if it will be totally this the new currency of Russia or it will be used in addition with the ruble.

How is giving the rest of the world access to money with a limited supply, that is already centrally held by a very, very, very small percentage of the populace, going to raise the world up?

 
 
There are *people* (not places) in this world that have no desire to join the rest of humanity in the knowledge age, sure.  So fuck em - no need to antagonize them, but let them stew in the third world prison cell they will create by their own hand.  If you want to worship imaginary friends and abstain from utopia, go ahead.  The only exception is that any member born in such a place should be given a chance to escape those conditions if they choose.  Your right to abstain from the collective does not give you the right to enforce your beliefs on others (and this extends to your own children).  Hopefully as we provide better living conditions for everyone and better access to knowledge, humans will start to see the truth of the universe: they don't need to stew in stone age nonsense any longer - we have something better now. 
 
Apart from those neutrals, there will also unfortunately always exist a certain amount of "cancer" in this world - individual cells who feel the need to attack the rest of the body (terrorists, thieves, maniacs).  This is why there will always need to be some kind of government, because we can't have cancer going unchecked and damaging the rest of us. 
 
But these concepts are probably a little outside the scope of this topic.

There are places in this world that inherently cannot be "dragged up".

 
 
Bruh, if you give the human race access to money we won't spontaneously live in mud huts. 
 
Guess what?  The entire human race will all move *up*.  That's the power of Metcalfe.  Shit is velocarific; with more participants in the global economy and information age the sum of human value will go up and we will all have a better life... leading to more innovation and better productivity... etc. 
 
You just know there's some genius little programmer down in Brazil cracking his knuckles like, "fuck Apple, I'm bout to start Orange"

The problem with moving to a global economy and currency is that the standard of living for everyone will tend to gravitate towards the middle. For most of us, let's say those of us able to connect to this forum via the internet. The middle is a long way down!

A national cryptocurrency again needed a reference for it's value and for to be exchanged in another country. So, only specific to a particular country. They already have it in fiat format.
Imagine, each and every country create their own cryptocurrency, then they again need forex to get value for their own currency. It mean what they already have, but only in digital format and based on cryptography.
They never reach the purpose of bitcoin by creating own cryptocurrency. The only viable option: Accept bitcoin.

What would make you think that any of the normal people would get access to the mining part or even the blockchain ledger? They can just run the blockchain in the background to process the transactions and such and you would never get insight in it.

They wont risk exposing themselves to this kind of attacks.

 
  
For sure.  
  
I think we will always need some kind of peacekeeping force (even the human body, a trillion cells all trying to work together, has an immune system to fight cancers) but there's no reason why the United States should be locked in an ideological war with China or Russia.  It's fucking absurd.  I've had many Russian friends in my life.  Their culture is a little different as a result of having a more brutal 20th century than us, but they are still human beings.  We like the same shit: fashion, good food, friendship, love, money, new technology.  
  
Inevitably the more connected a country is (and secular) the more the people of that nation tend towards a global consensus on what we should believe: the internet has lifted many of us up from rural shite beliefs and taught us (as we have participated in the decision process) a healthy respect and admiration for others while also teaching us the power of cooperation vs. competition.  This is why the true evil of the modern day is isolationism and cutting your population off from the free flow of ideas, however threatening you might find them.

   
 
Isn't that a funny truism? 
 
Even Dogecoin would be orders of magnitude better than the *best* implementation of any JP Morgan Coin or bitRuble.

It a national currency were to go crypto, I would expect that only parts of it would be decentralized. Issuance of new currency would certainly be kept under the control of the country, or maybe it's central bank. However, there is no reason why transaction confirmation could not be decentralized. Transaction confirmation would be purely fee based since there would be no reward for mining new currency.

The advantage of doing so is that the national currency would be accessible to more people and hopefully there would be less of a need to rely on the USD as a world reserve currency for global transactions. This is important for countries who have not so friendly trade relations with the US.

It's probably going to take a while to shift the mentality, as it's all we've ever known for centuries, but the sooner human beings move away from all this 'arbitrary lines on a map' silliness, the better the world will be for it.  Nation states feeding on and undermining each other to fuel their own petty national interests just leads to more conflict.  I'm hoping this little experiment of ours is a prominent first step (or possibly second step if we count the internet itself) in achieving that.

I hear rumors that Russia is considering starting their own national cryptocurrency.  As well, many believe that if the US or any other major power ever "adopted" cryptocurrency they would just start their own blockchain. 
 
Foolishness. 
 
Do you know what that would be inviting?  Total economic and digital war.  If the entire value of the U.S. Dollar is on an open blockchain that anyone can mine and attack, you better believe that rogue/rival nations will do everything they can to try to damage our blockchain.  And wouldn't we be forced to levy the same attacks & threats vs. them? 
 
You know who doesn't have to worry about this nonsense?  A blockchain of value that represents the entire human race and not just one entity.  A true global currency.  Bitcoin, Monero, and other truly neutral and worldwide projects don't fly a flag.  They stand for all of us.  Just look at some of the full nodes running in these projects: there are nodes in China, the US, Russia, India, and many more. 
 
A cryptocurrency flying a national banner is about as useful as an internet flying a national banner (ahem, North Korea).  I can see how there might be secure blockchains for internal Department of Defense usage and Apple Inc usage (just like intranets) but no country is going to back their currency with a proprietary blockchain that paints a big fat target on their ass.  If they did, they would just centralize it... and that's not really a blockchain, is it?  That's just a shared, private database. 
 
So let's end this argument once and for all.  It's either the world wide ledgers or nothing; there won't be national flavors.