Goverments creating digital currencies - Threat or Opportunity? - page 10.

FlightyPouch

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Quote from: seamusdorakos on February 15, 2020, 04:30:22 PM

It is a threat to other cryptocurrencies, but it is actuall a new opportunity for users

It is the opposite, a threat to users and new opportunities for crypto currencies. Crypto currencies are made for the decentralization, not for this. The fact that they can made a crypto currency meaning they will be able to track users of it and that is the threat for the users.

seamusdorakos

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Quote from: bitbunnny on February 15, 2020, 04:24:14 PM

I don't see that as a threat. Just the opposite, the fact that governments are creating cryptocurrencies is the sign they are experimenting with it and that they want to see what everything cryptocurrency have to offer and if they could be implemented into economy and financial system.
Although such governments coins are not very successful they are stil good for variety and for further development of cryptocurrencies and that is certainly good.

It is a threat to other cryptocurrencies, but it is actuall a new opportunity for users

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I don't see that as a threat. Just the opposite, the fact that governments are creating cryptocurrencies is the sign they are experimenting with it and that they want to see what everything cryptocurrency have to offer and if they could be implemented into economy and financial system.
Although such governments coins are not very successful they are stil good for variety and for further development of cryptocurrencies and that is certainly good.

ronbennett_

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Quote from: South Park on February 15, 2020, 03:35:19 PM

Quote from: Kasabus on February 12, 2020, 07:35:39 PM

True. Governments creating their own digital currencies is not a big threat but rather a good opportunity because this will lead into a faster and massive adoption for crypto. People will be now taught how to use digital currencies for them to create cashless transactions which is more convenient compared to fiat transactions. And when the time comes that bitcoin will be develop as a legal currency, hopefully they will start using it too even as an alternative one.

It seems you are not seeing the threat, until not long ago governments were looking for ways to shut down cryptocurrencies but after they realized they cannot do that despite their incredible power they are moving to the next phase which is to create competition against cryptocurrencies, most people that are unaware of the real reasons for the existence of cryptocurrencies are not going to be able to tell the difference between bitcoin and those centralized cryptocurrencies and since those coins will be backed by the government and they are accustomed to use their fiat they will have no problem adopting those coins.

Yes, Governments first said that it is a threat and now after they realized that it is not that easy to shutdown cryptos, they try to go an other path. We could compare it with the cold war but of course without bombs but with competitive products.

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Quote from: Kasabus on February 12, 2020, 07:35:39 PM

True. Governments creating their own digital currencies is not a big threat but rather a good opportunity because this will lead into a faster and massive adoption for crypto. People will be now taught how to use digital currencies for them to create cashless transactions which is more convenient compared to fiat transactions. And when the time comes that bitcoin will be develop as a legal currency, hopefully they will start using it too even as an alternative one.

It seems you are not seeing the threat, until not long ago governments were looking for ways to shut down cryptocurrencies but after they realized they cannot do that despite their incredible power they are moving to the next phase which is to create competition against cryptocurrencies, most people that are unaware of the real reasons for the existence of cryptocurrencies are not going to be able to tell the difference between bitcoin and those centralized cryptocurrencies and since those coins will be backed by the government and they are accustomed to use their fiat they will have no problem adopting those coins.

spike420211

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Your two facts contradict each other. If most of the projects do not pay, then the bounty cannot be called profitable for most people, due to the fact that the range of payments from the projects itself is already limited.
You claim that one of the 10 projects will give you a great pro, but I would like to see evidence of this statement. Unless of course you have them, otherwise these are empty words.

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Quote from: GmAdvice on February 12, 2020, 02:08:56 PM

Yes this a big opportunity for bitcoin & blockhain, i am an indian and recently indian government has said that they will also create their own digital currency this will greatly produced massive adoption of digital currenices, in india, their are many benefits of digital currencies,

True. Governments creating their own digital currencies is not a big threat but rather a good opportunity because this will lead into a faster and massive adoption for crypto. People will be now taught how to use digital currencies for them to create cashless transactions which is more convenient compared to fiat transactions. And when the time comes that bitcoin will be develop as a legal currency, hopefully they will start using it too even as an alternative one.

GmAdvice

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Yes this a big opportunity for bitcoin & blockhain, i am an indian and recently indian government has said that they will also create their own digital currency this will greatly produced massive adoption of digital currenices, in india, their are many benefits of digital currencies,

barbara44

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Quote from: ronbennett_ on January 24, 2020, 07:31:29 PM

Some governments recently try to create their own crypto currencies (e.g. China), according to reports. Some welcome this as a good step towards mass adoption of cryptocurrencies, others don't like it. Still, the crypto media welcomes this and we should consider whether this is good news in general or not.

What would be your opinions be on this? Should more and more governments create their own digital currencies and introduce them to their population or should we not support the creation of digital currencies made by governments?

Well, it’s kind of a positive move but as they say, there will always be a negative side to everything. I’m thinking this wouldn’t be good for the current cryptocurrency community. We all have known true cryptocurrency to be decentralized, which is what most of us here wants, a decentralized currency that gives us the freedom to do whatever they want and also send and receive money without the help of a middleman.

This is not what the cryptocurrency of the government would have to offer, rather it would be centralized and controlled by the government that issues it. Another thing is that it is likely to gain more adoption, since majority are interested in a currency that is issued by the government and sees others as scam.

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Quote from: Arcas on February 12, 2020, 12:18:23 PM

Become an opportunity if government created cryptocurrency and go ahead with listing in bigger exchange market or have own market, then keep continue promoting and looking best partnership for government coin, I think this way will make many investor love and want invest there with higher amount.

Its going to create more opportunity if its listed on exchanges. that would mean its besides the stablecoin created today there's also government backed digital currencies. It would be easier for anyone to buy BTC and trade that even a person who has no knowledge to trading can just buy coins and hold. There were news that releasing of these digital currencies will be in 2-3 years from now.

Arcas

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Become an opportunity if government created cryptocurrency and go ahead with listing in bigger exchange market or have own market, then keep continue promoting and looking best partnership for government coin, I think this way will make many investor love and want invest there with higher amount.

Tylev

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Quote from: Averim on February 11, 2020, 03:24:29 PM

Quote from: ronbennett_ on January 24, 2020, 07:31:29 PM

Some governments recently try to create their own crypto currencies (e.g. China), according to reports. Some welcome this as a good step towards mass adoption of cryptocurrencies, others don't like it. Still, the crypto media welcomes this and we should consider whether this is good news in general or not.

What would be your opinions be on this? Should more and more governments create their own digital currencies and introduce them to their population or should we not support the creation of digital currencies made by governments?

Governments creating their own digital currency is good for mass adoption but in the equation the problem is the politics involved in the process, it may affect at some point the image of cryptocurrency (we all know politics has not always a good influence in what they do).

The creation by states of their national stable coins will inevitably happen. These events simultaneously represent both a great opportunity for the cryptocurrency market and a great threat. The massive emergence of stable coins of various states also means an increase in interest and the further development of a decentralized cryptocurrency. However, there is a possibility that stable state coins will have good demand as a means of payment, and this will reduce the use of cryptocurrency as a means of payment. How this will happen in practice, time will tell.

Averim

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Quote from: ronbennett_ on January 24, 2020, 07:31:29 PM

Some governments recently try to create their own crypto currencies (e.g. China), according to reports. Some welcome this as a good step towards mass adoption of cryptocurrencies, others don't like it. Still, the crypto media welcomes this and we should consider whether this is good news in general or not.

What would be your opinions be on this? Should more and more governments create their own digital currencies and introduce them to their population or should we not support the creation of digital currencies made by governments?

Governments creating their own digital currency is good for mass adoption but in the equation the problem is the politics involved in the process, it may affect at some point the image of cryptocurrency (we all know politics has not always a good influence in what they do).

South Park

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Quote from: ronbennett_ on January 24, 2020, 07:31:29 PM

Some governments recently try to create their own crypto currencies (e.g. China), according to reports. Some welcome this as a good step towards mass adoption of cryptocurrencies, others don't like it. Still, the crypto media welcomes this and we should consider whether this is good news in general or not.

What would be your opinions be on this? Should more and more governments create their own digital currencies and introduce them to their population or should we not support the creation of digital currencies made by governments?

The cryptocurrencies backed by governments are going to appear regardless of what we think or want, the question is what to do about it? And I am not really excited about such coins, most likely they are going to be an even more intrusive form of money than what we have already, why I should exchange my bitcoin that is permissionless for a form of money in which the government is going to control everything and that it is closed source? It does not make sense.

This new development is both an opportunity and a risk, it can be an opportunity since more people will be exposed to cryptocurrencies and they may decide to adopt the real thing in the future, but they are also a risk because people may believe they are adopting cryptocurrencies when they are just using the coins of the governments.

Gozie51

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Quote from: Desscount on February 10, 2020, 03:41:33 PM

I prefer a country that uses cryptocurrency rather than paper money, this will definitely be a good advantage for crypto currencies, with a country that fully supports Bitcoin will definitely become gold in the future

It is all a gradual process. A country has to be adequately inclined with the use of digital currency first before fully discarding paper money. As far as I know however, I'm yet to see that happening.

Golftech

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Quote from: Desscount on February 10, 2020, 03:41:33 PM

I prefer a country that uses cryptocurrency rather than paper money, this will definitely be a good advantage for crypto currencies, with a country that fully supports Bitcoin will definitely become gold in the future

Country who are open thru innovations are places that good to visits when you are a crypto supporter. It's easy and convenient that you don't need to bring paper cash since it's can be process using your mobile devices.
It's opportunities to any government as long as they know how to deal with this system and have a good background knowledge to use it as an advantages.

andamarina

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Opportunity for them not for people, cause they will know all and will try to make more money from this.

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I prefer a country that uses cryptocurrency rather than paper money, this will definitely be a good advantage for crypto currencies, with a country that fully supports Bitcoin will definitely become gold in the future

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Quote from: thesmallgod on February 02, 2020, 03:51:14 PM

My own concern is what is the essence of creating your own digital currency when you have a fiat currency?. I'm sure since it is a country thing, it might not be globally accepted, if it so then maybe they can only use it as a means of accepting more traders to their products and service by paying with their digital currency without having to do wire transfer which might attract high service charges. Aside this, I do not see any reason why they should be having their own currency

The idea behind a digital currency from the government is to have more control over the fund transaction and have a better control and it can be traded as we do with fiat now, i am not expecting everyone to transform to the digital world globally in a short period but if the government forces everyone to transform then it will be another story.

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This is a big opportunity for the crypto ecosystem/industry. This will enhance the whole crypto and give trust to existing and new potential investors. CBDC is a new wave where the government is trying to do their own projects but in the end, decentralization will win. And governments, as we know, are not decentralized at all. They will fail to keep controlling the masses.

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