Topic: A government can create a cryptocurrency ? - page 12. (Read 1946 times)

I believe that every country has the power to make their own crytocurrency. but, I do not think they will take that decision, because it's a boomerang for their economic system. but, I think they are beginning to support this development

To ask whether the government can create a cryptocurrency is to misunderstand what cryptocurrency is. You see, most of the governments throughout the world force us to use their currency to do stuff. All countries have taxes and in order to pay taxes we must pay them in the currency that our government tells us to use. We don't pay our taxes in gold or oil. So it doesn't even matter if the government creates a crypto. Nobody is going to use it. People who use crypto aren't stupid. And the general public, absent government intervention, will slowly shift towards the better solution like they have with every other innovation throughout history. We're already seeing the market cap of cryptocurrency rise immensely because the general public is starting to figure it out.

I can say that the government can create their own cryptocurrency every time they want. We see people, knowledgeable or not, have experience in digital currencies or none creating their own coin thru the ICO. Now the question is, will be the coin become large and widely known like other coins right now.

Government can create their own coin but I think (only), government are working with banks and since XRP is being backed by banks include the government with it. Nothing owns cryptocurrency we know that already so every people can do their own coin at their own will.

If any corporation or person can create  his/her own cryptocurrency what more the government. Once Government wanted to venture in blockchain technology, definitely there will be sort of cryptocurrency. Government can tokenize its current fiat curreny. They may do it gradually for the testing phase. But for sure, in time it will happen.

Of course if government want to create a cryptocurrency so it is possible. If our country government want to launch a cryptocurrency so i invest in my government currency.

The government has a lot of opportunities by creating your own encryption currency for the development of large-scale projects, but I believe that most people prefer the currency because of their investment more real, no one can manage BTC.

Of course it depends on the goverment of what counry we are speaking about...there are some countries, which will easily scam their people

The Venezuelan government announced the creation of El Pero, a "cryptocurrency" supported by oil and other minerals found in that country. The Petro has a fixed price that is the barrel of oil, marked by OPEC, another thing is that it can not be mined, I do not know whether to characterize it as a cryptocurrency because it seems the adoption of Blockchain technology with geopolitical motives.

Yes of course, and I think that it's a good idea then since we are now involve or we have our prior knowledge about cryptocurrencues and it's easy for us maybe to adapt it.

It is a good idea when the government can create a crypto currency. because the crypto is the future currency, it will be needed in the future.

if a government issues a token that it would one of the most secure and risk free investments and I believe lots of people would invest into that coin whatever it would be.

This is possible in the future because many governments are aware of the benefits of cryptocurrency.

They may study their own cryptocurrency to replace the current legal tender!

Government research in cryptocurrency has the government to do credit guarantee, but I will not invest, because the government's financial policy is always exploiting people!

I will never invest in the cryptocurrency created by a government, they are never going to create a currency like bitcoin and even if they did there is no guarantee that they're not going to change the rules and change the code of the cryptocurrency to suit their needs, that is what they do all the time and I do not trust them.

Yes but I think if they will use the present currency to involve digital system it will be better than creating their own currency, because it takes time, money and a lot of economical crises our country will lake of money with it, and it will take a lot of time to make it famous in world and to develop people trust for that coin, so I prefer using bitcoin instead of inventing new currency.

I agree but I also disagree that governments should operate this way.   The most profitable way for a country to benefit from exchange and production within its borders is by free markets and some limited taxation system.

If taxes are too high or control on a market too restrictive then we see the market try to create alternative routes or even that exchange could die off altogether as it has become too expensive.  A country which relies on printing money to finance its budget is near to its end as viable.    To rely on controlling every citizens worth in this way strongly discourages private enterprise and undermines the secure worth of that currency by allowing some in power the free ownership of workers labour.

Not every government thinks this way, I see most of them as just bad debtors with no other choice and so it represents failure.

I think if the government create cryptocurrency is a very good thing, technology has changed and if you continue to rely on old systems then it will be a lot of trouble, blockchain technology is the best solution and make things easier.

This is great news! I would invest quietly, as it is still state, to visit so scary that you are "thrown" for money. It's a security guarantee, I think.

Yes it will very good that government create their own crypto currency  for their citizen and they should make it very easy for every person because no one wants difficulties in their life, so that's why bitcoin is very beneficial currency for people and government should some work for its popularity.

You are repeating here what was already declared possible, is actually happening now in Venezuela by their government and also I believe will definitely happen in future.

The past declaration was made by the head of the IMF.    This is not well know but the IMF already operates a currency standard known as the SDR.  When or if USD ever fails then SDR would be the replacement.   If you think of it roughly as a global EURO then thats not far off, its a way to balance various reserve currencies for the purpose of international trading.

The present implementation of government currency would be Petro which is offered by the Maduro regime in Venezuela.   This is a sanctioned resource centrally dictated by that nation not of independent or freely traded worth, I would not exactly call it a proper cryptocurrency and if you live in a western country it would be simpler personally to avoid it or least check the stance of your government regarding trade with this country.  I believe it might become a corporate exchange token perhaps.

In future I think the SDR and/or IMF crypto will appear at some point as I think USD has ongoing problems it does not appear ready to address.   As USD is the backing to all world trade to a large extent this is what underlines a strong possibility for alternatives being required including crypto currency tendered by various governments, democratic and otherwise.    Its very possible future events will resemble this.

It is possible that any government can create a cryptocurrecy, they can even banned it. For the government that has a strong power in every country, they can make thier own cryptocurrecy. It depends how people managed and use that cryptocurrecy.