A government can create a cryptocurrency ? - page 24.

Spaffin

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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 ?

Governments are already creating their own centralized digital coins, and an example of this may be Venezuela Petro. However, this coin is said to be provided with oil. We are also interested in how an ordinary centralized digital coin will behave, which is not guaranteed by anything. While such experience we do not.

I can not now say I would invest in the centralized digital coin of my state. Everything will depend on what kind of coin it is, what characteristics and conditions of circulation, how freely it will be used, whether anonymity and many other circumstances will be preserved in it. If this is unknown, then it is impossible to give an unambiguous answer whether I will invest in it. The state can not be trusted in this plan. On the use of crypto currency, the state and citizens have different approaches and interests.

darkangel11

legendary

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Don't let others control your BTC -> self custody

Are you really answering that it's "possible" without mentioning the petro? It has already happened, government cryptos are already on the market!
Of course they are going to centralized, it's the point of creating your own instead of accepting one of the existing ones. Governments who want to remain in control at the same time benefiting from the popularity of cryptocurrencies will surely try. Whether they succeed is another thing. I wouldn't buy into that if my government decided to create its own.

ceferov

full member

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Of course but only centralized ones I believe. This is what most of the economics forecast will happen

Shenzou

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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 would most defiantly not, the whole idea behind creating and using cryptocurrency is to get away from the centralization and the control of governments and banks over your finical life, and i would imagine that having a cryptocurrency made by government would defy the whole purpose of i, and not mentioning how users will be monitored and transactions would be controlled and limited, and i ams ure most the people who are truly using cryptocurrency would never invest in such a scam.

Elseye

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ApolloX

Yes, of course, why not? In Venezuela they already made it, also I heard numerous rumours about crypto-rubble.

hahay

legendary

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Leading Crypto Sports Betting & Casino Platform

Yes anyone can create cryptocurrency, because we can see there are many tokens that have sprung up which means cryptocurrency can be made by anyone who has the ability and expertise in that field to create cryptocurrency. If the government makes its own crypto, I think there will be many who support it by investing in it, because after all the government is very influential to the people.

Whitly

sr. member

Activity: 668

Merit: 255

I think, it's possible for the government to create own cryptocurrency and I more, than sure, that government will do it, And here right words, what I heard from other users here "join them if you can't beat them". But, then we should think, what will happen to cryptocurrencies what already exist, I think will be two way, or they will be banned or they will be regulated.

greatk

member

Activity: 175

Merit: 10

In the nearest future, national governments and Central Banks will start creating their own token backed by one thing on the order.

In fact, nations are only waiting for the success or failure of Petro coin launched recently in Venezuela to use their case as a learning point.

mostcrack

member

Activity: 548

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It is true that the government has a great opportunity to develop large projects by creating its own cryptocurrency, but there are many opportunities between success and non-success projects where there are many better reputable coins especially for Bitcoin and I'm sure most people prefer bitcoin because of their investment more real and no one can manage Bitcoin, I am somewhat surprised there are many people who do not want to be regulated? will the government be more stressed in terms of taxation that might incriminate people? I think there will be a rather disturbing rule outside of coin ownership, of course it would happen if the government created its own crypto and set it thoroughly.

shoaibmahar

newbie

Activity: 33

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Yes,Government can hire own developers and create own coin to operate the financial activities.

boled

full member

Activity: 590

Merit: 116

Of course, anyone can make a crypto currency, including the government. about investment or not, it depends on the product, if it is good, and much in demand, why not. Many determining factors, unable to speak at this time to reject or contribute. But as much as any new crypto popping up, I still believe in Bitcoin.

Cynooza

full member

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Well, a government can create a cryptocurrency, but if they make it centralize and reserve the right to influence its supply and flow that will make it almost undiscernible from fiat money and highly uncompetitive.

clickerz

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Backed.Finance

Quote from: camito on April 26, 2018, 12:27:58 PM

I think it is possible. If it happens that government can't take control over cryptocurrencies, I think their other option will be competing with these cryptos by launching or introducing their own cryptocurrency. By launching their own cryptos, they will have a chance to take control of their own cryptos, they will know who are those people like us engaging themselves in cryptos. They will have a chance to legalize and put taxes to us.

That is a very possible scenario, a government institution launching its own cryptocurrency is a good move I think on governments side, and once this develop they can really benefit the blockchain technology. The problem is with the people using it as they are still controlled within the system.

camito

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Activity: 301

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DAEFROM.com

I think it is possible. If it happens that government can't take control over cryptocurrencies, I think their other option will be competing with these cryptos by launching or introducing their own cryptocurrency. By launching their own cryptos, they will have a chance to take control of their own cryptos, they will know who are those people like us engaging themselves in cryptos. They will have a chance to legalize and put taxes to us.

Ushono

newbie

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Of course can, any state can conduct bounty campaign on this forum and pay for reviews on YouTube and posts on forum.

zhagedus

jr. member

Activity: 124

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We all are looking forward to that government that will create their own Cryptocurrency. If by chance any one of them create one the reaming government will follow. I see a possibility with West......

avdeeva

newbie

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Merit: 0

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 ?

Governments can create crypto and many are actually already planning to do so. I will however, not like to invest in it because it will not be decentralized.

brickafterbrickwalldpt

full member

Activity: 294

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Why would government not be able to create its own cryptocurrency? I wouldn't be surprised if it happened in the next few years. Some countries like Japan and South Korea seem to really like the idea of decentralised currency and they might consider creating their own one soon. I am quite curious how governments would handle mining and distributing their cryptocurrencies, that might cause some trouble. I would invest in such cryptocurrency as long as it would have a fixed supply. I don't see any point in another currency that would have unknown amount of coins available on the market.

BitcoinTurk

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Activity: 1694

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I think it's possible. Many people are also worried that there is no regulation, especially since there is no center in the cryptographic sector. I think that if the states create their own crypto money, this regulation will be achieved. Moreover, it is obvious that today's exchange rates parity will continue in the same way. I think that there will be no abnormal situation in the near future for the transaction of crypto money instead of cash.

btccrusher

member

Activity: 742

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Anyone can create cryptocurrencies with investment, so Govt. should is on the positive side. However, I won't invest in any Government crypto projects. I believe Govt. won't hide my identity. Investing in cryptocurrency is high risk, in Govt. Crypto project it's DOUBLE HIGH risk.

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