A government can create a cryptocurrency ? - page 14.

normensky012

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Quote from: brawdias on April 25, 2018, 06:46:36 PM

What do you think about this possibility ? Would you invest in your government currency ?

Why would I invest in a government-run cryptocurrency? They probably won't gonna have an ICO because they probably gonna add the digital currency to the legal tender of the country. Say for example if Korean central bank manages to integrate digital currency into their monetary system, you don't need to invest on it because the government will probably replace your old paper money with a new monetary system that runs over the internet and blockchain.

BlackBeauty

member

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Quote from: icohunter1024 on May 07, 2018, 12:15:11 PM

This is like selling state bonds to mobilize people's capital. As Venezuella issued the copper, Petro encouraged people to buy coins protected by the oil. Of course, government investment in cryptocurrency is subject to strict management and taxation.

If government can create a digital currency and provide many benefits as like bitcoin so I think many people will invest their money in government currency but I think government should improve bitcoin because bitcoin can provide many benefits for all people in this world and that's why people can manage their budget in payment of bitcoin, so that's why they can easily invest their money for future in bitcoin and it will give them best profit to secure their future for family.

icohunter1024

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This is like selling state bonds to mobilize people's capital. As Venezuella issued the copper, Petro encouraged people to buy coins protected by the oil. Of course, government investment in cryptocurrency is subject to strict management and taxation.

pragna

full member

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Yes sir why not. If a government think that there is a possibility of economical growth with cryptocurrency, government can create a cryptocurrency. Many central bank already thinking about it and also researching in it. Its a new ERA in currency so everybody have to think about it.

BartS

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Quote from: SnowyPerson on May 02, 2018, 02:26:07 PM

Of course it's possible, I'm sure they are doing it right now. But is it worth it to invest in it. I do not believe that the state will create an uncontrolled currency.

No, it is not going to be worth investing in such a coin, it doesn't matter what they say or how they try to promote that coin, you just need to take a look at what has happened with fiat to know that it is impossible to trust the government with managing a currency in a responsible manner, currencies all over the world are being printed massively by governments, they think they can steal the wealth from their citizens forever, but now people have found a way to defend themselves with the creation of cryptocurrencies and that is why they are so afraid of it.

Bessta

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Government has the power to do so if it wants but as of now government is protecting ths banks which have great impact on the economy. Banks would used their might to bar cryptocurrencies to become fiat currency. In the end banks would always be ptotected by the government.

faultunfmuzzled8

copper member

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They won’t be able to control it and that means that they will join hands with cryptocurrencies.

Betheng10

member

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dApps Development Automation Platform

Government was able to create their own currencies through fiat money, and cryptocurrencies will not be impossible if they do consider making one.

If the government would subsidize with blockchain processes and not charge for fees, I would try considering buying it.

BitcoinPanther

hero member

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Quote from: brawdias on April 25, 2018, 06:46:36 PM

What do you think about this possibility ? Would you invest in your government currency ?

Valenzuela already did in the form of Petro. Their very own government issued cryptocurrency backed by oil reserve.

The Marshall Islands is also issuing their own cryptocurrency called SOV which will be accepted as a legal tender which they hope will help boost their economy.

And with China banning Bitcoin and shutting down bitcoin exchanges, there's a strong rumor circulating around that they too are set to compete in the cryptoworld and will soon launch their own Yuan Cryptocurrency.

So i guess in the midst of all the crypto speculations and all, we are set to see the rise of government owned cryptocurrency in the days to come. How decentralized they will be? Let's wait and see.

Black Angel

sr. member

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The government certainly has unlimited resources to create cryptocurrency, if they want to make cryptocurrency but of course this should change the regulation because if make cryptocurrency it will make officcial currency disappear.

Angi

full member

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They are government they will do whatever they wan't but suddenly government have a fiat currency wich means they don't need a digital currencies because they think if they build a digital currency many will not benefit from it.

Mancung

newbie

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Of course they can.. the real question is, whether they want to or not?? Maybe they just still trying to figure out the way to create cryptocurrency without harming the future of their real fiat currency and economics

Baggong

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Quote from: Andrews193 on May 06, 2018, 04:21:56 AM

Many governments have paid attention to large virtual currencies and especially Bitcoin. In the future, there will be many more people entering the virtual currency. I think that Bitcoin may change the world as well as its economy.

Because many countries believe that the transaction system will change soon, if it continues to rely on the old system then this will make them left behind and certainly experiencing economic crisis.

Ondre

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https://i.imgur.com/iwknjIj.png

Indeed Government can create Crypto because even a wealthy individual create his own crypto how much more with the government wit governing rules.

hardtargetbtc002018

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Quote from: brawdias on April 25, 2018, 06:46:36 PM

What do you think about this possibility ? Would you invest in your government currency ?

I think not, its a long process in terms of approval from legislator if a government create their own coin because its very costly and it requires a big money as capital.

XpanderaX

newbie

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Seeing the rapid development of Cryptocurrency as it is today, it could be a government interested in creating their own Cryptocurrency. And I've also heard that my country, Will create a digital currency in addition to Fiat currency remains valid. If every country has created Cryptocurrency, I'm sure the use of digital currency will be more and more. and the name Bitcoin as the first digital currency to appear will be more phenomenal and will have a very high price.

rabs

member

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Yes it is possible and many countries launch their own coin like UAE and India also work on it. Government knows that in future digital coin will dominant over the globe and government want to create own way to t control the digital coin to contribute for betterment of economy.

godactyl

newbie

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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. We use dollars in the US and euros throughout most of Europe.

MMA

legendary

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Quote from: HiRollStaff on May 05, 2018, 05:58:09 PM

Technically speaking any country could launch a crypto-currency. In a lot of developing countries it would be a good idea to adopt an existing one or develop a new one. Big cost savings and they would be ahead of the curve technologically speaking. Would be cool to have US Coin or Canada Coin for us North Americans. Realistically I see it being like a dollar, and then a bunch of cournties would make their own varient of that coin zonally. Not that it makes a lot of difference, but hey, thats the way they like to operate.

If a forum or company can create their own currency, then why a government cannot, to me i think that in future we will see that governments will take more interest in crypto currencies and will therefore create their own currency which they will allow their people to use and exercise it in their country.

Andrews193

member

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Many governments have paid attention to large virtual currencies and especially Bitcoin. In the future, there will be many more people entering the virtual currency. I think that Bitcoin may change the world as well as its economy.

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