each state will create its own token? - page 5.

raven7886

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Quote from: Silberman on October 08, 2017, 10:22:33 PM

Quote from: LeGaulois on October 08, 2017, 01:22:40 PM

The population still needs an internet connection to be able to use. So what about the citizens who don't have an internet access? They will become "unbanked"
USA (~300 million citizens) and Australia (~25 million citizens) are the top countries with internet access but still, only 90% of the population has access to the internet. It means over 32 million citizens won't have access to a banking (crypto-based) system
In some countries in Africa, only 10% of the citizens have internet access, it means 90% of the population won't have access to a banking system. Can't run this type of economy (cryptos based) in those countries.

The OP only suggested if each country will create their own tokens not that those tokens will replace cash, I think governments are going to try to create their tokens but whether those tokens are going to be successful is another story, people will use them but when things get difficult in the economy people will recognize that bitcoin is way better since it is independent of government direct control.

Even at this stage people have already been enlightened enough that whatever comes directly from the government is not good for them and will end up sticking with a decentralized currency instead. What is the point having something in form of a token that is not different from the usual fiat that you have been holding ever since.

btcprospecter

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Governments will try to emulate bitcoin but it will be very hard for them to be able to have the backing of them it will still be fiat under the guise of a crypto currency.

malikusama

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Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

I am not in favor of these centralized cyptos of government. Most probably soon every state or country will have their own centralized cryptocurrency which will be controlled by their central authorities. The main reason of this step is growing interest of people towards cryptocurrencies and bitcoin, so they want their people to use their own centralized currency so that they will have a full control over those coins.

beerlover

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Quote from: Chanock on October 11, 2017, 07:10:58 AM

I think state did not considered token under their currency it is because a lot of process to be undertaken by on state. Token is globally used through internet and one state cannot produce their own token as long as it's not approve by their legislative body and creating token is against the policy of one state because they are under the law of protecting their own currency.

You are right here! But does this kind of policy cut across globally for all countries? Let's even leave state out of it, cause I am sure the OP was kinda referring to each country. States most definitely cannot go against the normal monetary policy without the federal decision.

But from your point of view, it is something that can work out for a country and won't really be a problem to embark on. The difference is whether people will adopt it knowing it is going to end up as much as the country's currency with the usual control.

Gameroid

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Quote from: Soutogu on October 12, 2017, 07:41:45 AM

One coin per state is way too much, it would be a hassle for the population. Hard to learn, hard to understand for the non-tech savvy...it just wouldnt work. We need to make it easier for the average folk to get into crypto, not harder.

I think each state will be willing to have their own crypto currency just like their fiat but i think that it will still remain as centralized currency, and therefore it cannot beat bitcoin, Bitcoin is in fact a decentralize currency which is present throughout the world and people can use it equally everywhere. While the centralized currency will be under the control of a single government and they will treat it as they are treating their fiat currency.

Persiville

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I believe that there is no need for us to have different tokens as long as it can be used anytime then there should be no problem. It also doesn't makes sense if different states have different tokens.

Yadstiker

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Whether they will create or not, or they have already created, as long as it is not accessible it will not be a problem. The case we have right now is that every token that had been created and being traded in the market can be accessed or be purchased worldwide and if it has a good productivity and platform it has the tendency that other races in different countries will be buying it, so i guess it doesn't really needed to create tokens for each corresponding countries as their digital version of their fiats.

Silberman

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Quote from: damberg on October 09, 2017, 03:45:45 PM

Quote from: Silberman on October 08, 2017, 10:22:33 PM

Quote from: LeGaulois on October 08, 2017, 01:22:40 PM

The population still needs an internet connection to be able to use. So what about the citizens who don't have an internet access? They will become "unbanked"
USA (~300 million citizens) and Australia (~25 million citizens) are the top countries with internet access but still, only 90% of the population has access to the internet. It means over 32 million citizens won't have access to a banking (crypto-based) system
In some countries in Africa, only 10% of the citizens have internet access, it means 90% of the population won't have access to a banking system. Can't run this type of economy (cryptos based) in those countries.

The OP only suggested if each country will create their own tokens not that those tokens will replace cash, I think governments are going to try to create their tokens but whether those tokens are going to be successful is another story, people will use them but when things get difficult in the economy people will recognize that bitcoin is way better since it is independent of government direct control.

Any form of "crypto-only" economy is a utopian idea that would lead to unexpected consequences (imho). Running dual currency would be ineffective for any monetary institution because you cannot control either amount of tokens in circulation or their value in time (= interest rate). Fiat wins for central banks

I do not see the problem with running a parallel system, they do not need to create a different coin, the US could create their US tokens and peg them to the dollar, so 1 dollar equals one unit of their cryptocurrency, it is not complicated and people will be able to use it as if they are using their regular currency, now I will never use that crypto or any crypto created by a government but that is a different story.

prtty2gal2

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Quote from: bncbnc on October 08, 2017, 04:01:57 PM

Quote from: Zadicar on October 08, 2017, 03:56:04 PM

Quote from: kimochidesh on October 08, 2017, 02:41:14 PM

Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

I don't think so because no country wants to give a decentralize currency to their citizen and loose the economic control from their hands. And if there is Internet everywhere than it could be accessible from any part of the world. So there is no logic behind create such a vague and useless currency.

If you do try out to read up again on what op said and mean then you would answer on different thing. If each state would decide to create their own tokens then it would surely be a centralized thing which would based on their own currency but this thing would be somehow take lots of works or adjustments since not all citizens is familiar on this kind of thing.

yes that is fact that if a altcoin is restricted to some particular area or state then it will certainly be centralize and will not as universal, But i think that this will not be succeeded, because people like to use a universal currency and therefore they will still refer to bitcoin, because bitcoin is a universal currency and it can be throughout the world with same value.

Centralized or decentralized doesn’t make a currency universal. Even bitcoin cannot be used globally by everyone as so many people will not even be able to access it due to lack of internet and being hugely behind in technology. At the end for the state, we will just end up having a form of the usual fiat they have had before in the form of digital currency which will end up being controlled.

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It is possible to the states to make their own token because the token is now being trending in these days and they are now going into making of their own token because it is easy and if they are going to finish it well then they can easily promote it to the public and make their own token successful and even more powerful in the market as the price rises.

streazight

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Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

If states or all the countries want to create their own token, I really do not see any problem with that as long as whoever is buying into them know is much as the same as the usual fiat since it will be controlled by the government. Although, before any country will do that, a lot must be considered, most especially infrastructure.

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Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

I think this would be possible, a coin for every country. If that happens then, our world will be filled with cryptocurrencies that can be used in much better and faster transactions. It would be just like our current money today, but in cryptocurrency.

Soutogu

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One coin per state is way too much, it would be a hassle for the population. Hard to learn, hard to understand for the non-tech savvy...it just wouldnt work. We need to make it easier for the average folk to get into crypto, not harder.

Basmic

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Quote from: azguard on October 12, 2017, 07:18:19 AM

Quote from: Gotomoon on October 12, 2017, 05:03:03 AM

Quote from: PETES on October 12, 2017, 03:51:46 AM

Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

Nah, I don't like the idea. I would prefer more just to use one token as currency not only in one country but in whole world. Well I'm definitely talking about bitcoin. In this way, many more people around the world will use bitcoin and its price will get more valuable. We don't need many tokens that will just end up a shitty coin.

Yes, it is best if one will create token this would be globally to become popular. It is needed of internet access to implement this token. If state will create token probably it will not be hit in industry, so much better to create token which can be access by many.

Dont think that even creating Token will be good idea. What will crypto community gain in this nothing except another altcoin. Just image what would it be if every state create another 200 coin, this would be by me total disaster, and believe that many exchanges would not allow this to be placed under them.

States have a great opportunity in order to establish themselves and to ensure the exchange and circulation of their own altcoins. With the advent of the bitcoin and the existing banking system is losing its relevance and tanks will have to upgrade their activities. Therefore, this scenario is very possible.

azguard

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Quote from: Gotomoon on October 12, 2017, 05:03:03 AM

Quote from: PETES on October 12, 2017, 03:51:46 AM

Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

Nah, I don't like the idea. I would prefer more just to use one token as currency not only in one country but in whole world. Well I'm definitely talking about bitcoin. In this way, many more people around the world will use bitcoin and its price will get more valuable. We don't need many tokens that will just end up a shitty coin.

Yes, it is best if one will create token this would be globally to become popular. It is needed of internet access to implement this token. If state will create token probably it will not be hit in industry, so much better to create token which can be access by many.

Dont think that even creating Token will be good idea. What will crypto community gain in this nothing except another altcoin. Just image what would it be if every state create another 200 coin, this would be by me total disaster, and believe that many exchanges would not allow this to be placed under them.

avikz

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Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

The goal of the digitization of money to make it simplified and not complicated. So if each state of a particular currency creates its own token under the main currency, it will create a lot of confusion and also slow down the inter-state business due to the huge exchange rate fluctuation. It will make things more complicated instead of simplify it.

What we must aim for is "one world one currency". That is the most complicated matter to implement but once it is implemented, it will simplify the world economy to a different extent. There will be no exchange rate difference around the world. So it will create a healthy competition among the production industries. Same wage will be given worldwide so that world economy will come at par. A steel producer from China will have to compete against a steelk producer of UK because the product price will be same. The the product quality will be increased at the same old price. There are a lot of other benefits as well which can't be written in this thread. I know "one world one currency" is a distant dream but if it happens, it will bring good news for all the common hard working people worldwide.

Gotomoon

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Quote from: PETES on October 12, 2017, 03:51:46 AM

Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

Nah, I don't like the idea. I would prefer more just to use one token as currency not only in one country but in whole world. Well I'm definitely talking about bitcoin. In this way, many more people around the world will use bitcoin and its price will get more valuable. We don't need many tokens that will just end up a shitty coin.

Yes, it is best if one will create token this would be globally to become popular. It is needed of internet access to implement this token. If state will create token probably it will not be hit in industry, so much better to create token which can be access by many.

ethereumhunter

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Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

it could be happen as long as before they create their own tokens there is internet connection available. without the internet, they can not create the tokens. but i don't think their tokens can get famous because the tokens is for them only and if the outsider wants to use, then they should thinking what their benefit from using the tokens.

PETES

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Quote from: halisakal on October 08, 2017, 10:24:51 AM

Hello people!As you consider whether each state to create their own tokens? under its currency?

Nah, I don't like the idea. I would prefer more just to use one token as currency not only in one country but in whole world. Well I'm definitely talking about bitcoin. In this way, many more people around the world will use bitcoin and its price will get more valuable. We don't need many tokens that will just end up a shitty coin.

adam1230

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Limiting tokens to only one state is not a good idea. Every token needs to reach more people so no one wants to limit its market.
Also all fiat currencies are global and not limited to a country.

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