BTC + Altcoins VS National Cryptos - page 2.

sheenshane

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Quote from: marielbeckham on May 07, 2018, 11:17:19 AM

And I do not support the statement above saying that BTC won't be the outstanding leader in the market in the nearest future. Can't see the more powerful competitor. At least yet.

Well, in my view I also don't have any possible currency that may have a potential to compete in the bitcoin status as of now.
But who knows it is hard to predict cryptocurrency that what will happen in the nearest future, BTC as of now is leading of all cryptocurrency and have an asset of being profitable, so it is continued growing up until it is primarily used to the people in the whole world. No, other cryptos will replace.

marielbeckham

newbie

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And I do not support the statement above saying that BTC won't be the outstanding leader in the market in the nearest future. Can't see the more powerful competitor. At least yet.

European Central Bank

legendary

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a 'national' crypto would have the exact same problems as current currencies. you think they'll launch something resistent to inflation and debasement? of course not. a government controlled crypto makes all the horrible things they do now a whole lot easier.

if every nation had one then it would inspire more people to look to currencies independent of government meddling.

EdenHazard

legendary

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Only people who are eager to move the bitcoin function from the payment system to an asset. Bitcoin will be the primary choice as a payment system if a country accepts its system. Although they make a virtual national currency they bitcoin users do not necessarily use bitcoin as an asset.

I prefer looking at bitcoin as a payment system or an asset. By having these two advantages, the user will continue to use bitcoin even though there is a national virtual currency. Just the only now bitcoin can still be said not worthy to be used as a payment system for a volatile reason, but sooner or later there will always be ways to overcome it.

qwertyup23

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Quote from: Cryptoteleutios on April 30, 2018, 03:58:11 PM

Hi everyone,

I have some thoughts about the future of cryptocurrencies. At some point, even if they do not get to be regulated, still the countries will have somehow their own digital currencies issued. How do we make sure that BTC will dominate the respective national cryptos of each country? Or BTC will eventually turn entirely into an asset, leaving space for other currencies as means of payment?
Simply thoughts about the future from a new guy.

Technically, bitcoin is being regarded as an asset currently as it cannot be a currency. Some countries do even consider it as an alternative payment for various services and products in the market relatuve to their laws. In order for bitcoin to continue dominating the market, it must attract new investors and retain old ones, it must be generally accepted in every country, it must conform to the laws and regulations imposed and it must retain its high price.
Its high volatility makes it a perfect investment tool for short or long term goals and its accessibility is relatively easier compared to other investment mechanisms.

CryptoBry

sr. member

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Though some countries are getting attracted to the prospect of issuing their own cryptocurrencies...we have to remember that this can not be done that easily and there will always be repercussions when the government is involved with the whole thing. And even if there will one or two countries that can do it successfully there is no guarantee that the same can be copied elsewhere with the same level of success. Getting into the digital world can be so hard for the government most especially if there is a great amount of corruption, ineffectiveness and ineptness. Bitcoin will still be on the top of the whole game no matter if some are claiming to be much better than Bitcoin...the market is still deciding in favor of Bitcoin.

Sony.UK

full member

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Quote from: palle11 on May 06, 2018, 11:52:34 AM

Quote from: Cryptoteleutios on April 30, 2018, 03:58:11 PM

Hi everyone,

I have some thoughts about the future of cryptocurrencies. At some point, even if they do not get to be regulated, still the countries will have somehow their own digital currencies issued. How do we make sure that BTC will dominate the respective national cryptos of each country? Or BTC will eventually turn entirely into an asset, leaving space for other currencies as means of payment?
Simply thoughts about the future from a new guy.

We should remove our mind from bitcoin stopping any other coin to dominate and the national coins too can't be limited. Moreover, the national coin would grow and become popular base on the growth, development and stability of the country. We don't expect that a backward country would have a coin so popular to take a lead.

Cryptos are international currencies no one cannot be able to stop using the bitcoin and alts. That is the power of decentralized cryptos on the market mate, if you compare the cryptos with national currencies you have the better value with in the country.
If you go to any other country first you that currency in your hand.
Then cryptos can be go to anywhere in this world with cheap fees but other national currencies there will not work like that.

palle11

sr. member

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Quote from: Cryptoteleutios on April 30, 2018, 03:58:11 PM

Hi everyone,

I have some thoughts about the future of cryptocurrencies. At some point, even if they do not get to be regulated, still the countries will have somehow their own digital currencies issued. How do we make sure that BTC will dominate the respective national cryptos of each country? Or BTC will eventually turn entirely into an asset, leaving space for other currencies as means of payment?
Simply thoughts about the future from a new guy.

We should remove our mind from bitcoin stopping any other coin to dominate and the national coins too can't be limited. Moreover, the national coin would grow and become popular base on the growth, development and stability of the country. We don't expect that a backward country would have a coin so popular to take a lead.

supermine

hero member

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Creation of crypto currency for their country make no sense because they already have fiat system for their country so creating the national currency may not change anything among the crypto users.And the main aim of the crypto currency is to provide decentralization on the money system so if they create national country then people may not use it.
But in future anything may happen so we need to wait and watch the crypto currencies will be created by the respective governments or not. Cheesy

Indrawan77

hero member

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People will used btc if btc got the unique feature that suit them, for sure to be able to keep on dominating bitcoin will need fast transaction speed and cheap fee, one thing that makes people using btc is because its decentralised and pseudo anonymous, when the country issued their own digital currency they wont be able to make feature like that, but to be able to make btc into currency it will need cooperation from a lot of people, for now we will need to see how people's going to accept btc, if in the end btc only become asset I don't think people will objected

jseverson

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Quote from: stomachgrowls on May 01, 2018, 04:14:44 PM

Sticking with national cryptocoins would be just still the same on using your traditional local fiat.

The thing is, this isn't necessarily a negative to most people. Crypto people would hold their heads high on their high horse and give lectures on economic freedom, the evils of inflation, the beauty of decentralization, and whatnot, but the fact is, most other people don't care. Fiat is all they've known, and they'd probably be the first to tell you that it works for them. If digital fiat is able to copy most of Bitcoin's best features, they'd probably be more likely to choose that (for utility as a currency, at least) over Bitcoin.

darkangel11

legendary

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

Quote from: cetald on May 01, 2018, 03:26:10 AM

I have the confidence that bitcoin will not be the market leader in the near future. The leader will be more technological cryptocurrency.
Concerning the national cryptocurrency, they will be regulated and will be successful, only within each individual country

So, you're confident that a cryptocurrency that doesn't exist yet will take over, and it's going to happen in the near future Cheesy

Good joke.
The reality is that BTC is paving the way for all the other altcoins. If it fails somehow, starts looking like a fad, the altcoins will take an even greater hit.

As for the decentralized vs centralized cryptos, I believe that decentralization will win. We just need people to realize that everything the government touches turns to shit.
There will be another wave of the financial crisis and another (yes, wave, because we are still in a crisis), and finally they will have to open their eyes.

stomachgrowls

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Quote from: jseverson on May 01, 2018, 02:12:23 AM

Quote from: Cryptoteleutios on April 30, 2018, 03:58:11 PM

How do we make sure that BTC will dominate the respective national cryptos of each country?

You can't. You can make it competitive by making it cheaper, faster, etc. but at the end of the day, people will choose what they want to use based on their needs. Bitcoin will always have two key advantages though: decentralization and cross-border acceptance. Only time will tell if those are enough to keep it relevant against state-backed digital currencies which will undoubtedly be heavily favored by regulators. Bitcoin should at least be able to carve out a niche based on those qualities though, so I don't think it will be dismissed as an asset and nothing else either.

It would never be an asset and we know why bitcoin is created in the first place which it would really just remain as it should be but we cant deny the fact on what we are seeing now which National crypto coins is heavily backed by a certain country which we would able to see the disadvantage compared on decentralized coins.You said was right the decision would really be entirely depending on people on which coin he would choose up. Sticking with national cryptocoins would be just still the same on using your traditional local fiat.

richardsNY

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Quote from: cetald on May 01, 2018, 03:26:10 AM

I have the confidence that bitcoin will not be the market leader in the near future. The leader will be more technological cryptocurrency.

That's not going to happen. Currently we're already in a time where technologically, Bitcoin has been outclassed already, and that for a long time. It didn't even dent Bitcoin and never will. On top of that, what other crypto currencies offer can Bitcoin offer too, but I doubt it will since no one even uses these features. If we look at all the crypto currencies being technologically more advanced than Bitcoin, then it's safe to say that people don't seem to care about them. I said it yesterday as well, and I'll say it again, what are all these features worth when people don't actually use them? They are called gimmicks. People just want to move value back and forth and store value, and that's exactly what Bitcoin allows them to do.

Greenkarki

member

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Quote from: Cryptoteleutios on April 30, 2018, 03:58:11 PM

Hi everyone,

I have some thoughts about the future of cryptocurrencies. At some point, even if they do not get to be regulated, still the countries will have somehow their own digital currencies issued. How do we make sure that BTC will dominate the respective national cryptos of each country? Or BTC will eventually turn entirely into an asset, leaving space for other currencies as means of payment?
Simply thoughts about the future from a new guy.

When a country starts its own crypto currency, it has finally understood and agreed the strength of crypto currencies. Just like other ICOs, when they start up, they need to go through ICO journey and get through to gain values. Every action is depend on bitcoin. So either way, the country has to adapt bitcoin at the beginning. Not every new crypto gains its place in the market. So one needs to get adapted to crypto currencies. National cryptos still become one of the altcoin anyways.

cetald

member

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I have the confidence that bitcoin will not be the market leader in the near future. The leader will be more technological cryptocurrency.
Concerning the national cryptocurrency, they will be regulated and will be successful, only within each individual country

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: Cryptoteleutios on April 30, 2018, 03:58:11 PM

How do we make sure that BTC will dominate the respective national cryptos of each country?

You can't. You can make it competitive by making it cheaper, faster, etc. but at the end of the day, people will choose what they want to use based on their needs. Bitcoin will always have two key advantages though: decentralization and cross-border acceptance. Only time will tell if those are enough to keep it relevant against state-backed digital currencies which will undoubtedly be heavily favored by regulators. Bitcoin should at least be able to carve out a niche based on those qualities though, so I don't think it will be dismissed as an asset and nothing else either.

Cryptoteleutios

newbie

Activity: 36

Merit: 0

Hi everyone,

I have some thoughts about the future of cryptocurrencies. At some point, even if they do not get to be regulated, still the countries will have somehow their own digital currencies issued. How do we make sure that BTC will dominate the respective national cryptos of each country? Or BTC will eventually turn entirely into an asset, leaving space for other currencies as means of payment?
Simply thoughts about the future from a new guy.

Topic: BTC + Altcoins VS National Cryptos - page 2. (Read 312 times)