Topic: Country backed coins, a good idea? - page 2. (Read 521 times)
I think this is not good idea especially for crypto community and existing coins. because it is only good for the government but not so good for cryptocurrency so it is bed idea.
why not? eventually, every country will go Crypto and Bitcoin will be a global reserve system
https://www.bitcoinmarketinsider.com/bitcoin-will-become-the-global-reserve-asset/
https://www.bitcoinmarketinsider.com/bitcoin-will-become-the-global-reserve-asset/
The whole idea of cryptocurrencies is for it to be decentralized and introducing country specific coins will be against that same thing. And why would governments introduce a decentralized currency when they already have fiat currency which they have 100 percent control over.
I think it is good idea. Normally, governments are against crypto, if they are planing to create country coin, those country could leading the new world. 
It would be just digitalizing fiat currencies, it would break everything a cryptocurrency stands by - like decentralization and anonymity. I doubt anyone would use that since we already have fiat, the goverment would control both so those coins wouldn't be anything special or innovative like Bitcoin is.
I think this is a good idea, but it will be too regulated and might turn out to be centralized. But generally, govt can back crypto or any coin existing that meets their criteria and have god realized life use cases. This I think will be better.
And what then will be the difference between bitcoin and fiat, if crypto money will bear the names of the state. I believe that the crypto currency must be independent of all countries so that no one can manipulate it.
I don't think this is a good idea. If the coin is controlled by the state, it goes against the centralization of the block chain technology, which is the core value of a coin.
I think this is not a good idea especially for crypto community and existing coins. It is only good for the government but not so good for cryptocurrency. So it is bad idea.
What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea
If the states start issuing their own digital coins, it will be the same as with the El Petro coin in Venezuela. In any case, some countries will issue such coins, some will reinforce them, others will not. We still have to see this and see what this will bring to people and the state in practice. In any case, such experience is necessary for humanity and we will use it. In any case, if centralized coins of individual states appear, it will not be worse for anyone. If for people such coins will not be of any interest, they simply will not use them. However, for the whole of the crypto currency, this will be good in any case. Any use of crypto-currency at the state level will benefit the Crypto-currency.
It'll be like block chain based fiat currency . Which we're trying to avkid by using Bitcoin. Because we don't like to use fiat. that's why we're using crypto rather than fiat . If we starting to use those country based currency even in blockchain.The crypto revolution will loose it's first rules
What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea
That will a great news for cryptocurrency community. If that happen, cryptocurrency will be more attractive and market will have a fresh blood to move because government already involve
Wouldnt that be just a national currency, if a country offer or agreed upon backing up a crypto that just a form of strategy to strengthen their economy, much like I rmb a country that used crypto as medium for their oil barrels in which is like mehh, but definitely price are much more stable and investors wouldnt lost intetest in matter of weeks, even months
Its goint to replace cash in the future and its as good or bad an idea as fiat is.
If and when governments implement it people wont have a choice but to accept it
It will become the financial norm. I dont like it because all buying and spending will
be traceable by governments.
People will see the negative sides to this and move to bitcoin
If and when governments implement it people wont have a choice but to accept it
It will become the financial norm. I dont like it because all buying and spending will
be traceable by governments.
People will see the negative sides to this and move to bitcoin
I think that's a good idea if there is a coin that is supported by his country in terms of security and the law may be reliable but I am afraid because of the coin that is supported by his country it will arise many of these requirements and it is the same as banknotes that have become the currency of the world and filled with rat rats politics thus creating new corruptors
In my understanding, I do not think it will be good for a country to enter and make their own cryptocurrency in the market since it could be just the same as fiat money which is dictated and controlled by the government. The only difference is that it is a digital currency but having the same function as the fiat money.
What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea
The world is gradually tilting towards this plan. Governments don't want to be left out of decision-making and control of their currencies. So they might employ this style of creating country-backed coins. It is good for the government but not so good for cryptocurrency as it banishes the idea of a decentralized market
Is the coin created only for their own country? If it can be traded for public and the price is relatively cheap maybe I will agree. and withdraw it there will be trade competition with other coins
I don't think so. The idea of crypto coins is to be decentralized. Centralizing it by a particular region would not be a good idea. I think crypto coins are meant tp be world wide. Just naming them for a country would not make it easy to accept through out the world.
It will be a good idea for the governments but not so great for us..
They will be able to manipulate them as they please just as the current fiat currencies are and be able to track you even more than before..
That's true it's not good for us because theres possibility that the government manipulate the market. It's alright if they do that but no hiding agenda because once they know how the crypto works it maybe cause always crashing of the market. They will be able to manipulate them as they please just as the current fiat currencies are and be able to track you even more than before..
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