Topic: Goverments creating digital currencies - Threat or Opportunity? - page 8. (Read 3565 times)
March 01, 2020, 06:09:31 PM
One of the easiest way for cryptocurrencies to increase the number of users, is through such governmental innovations. In this era where there is great opportunity for people and nations to develop through modern technology, one of the best decisions that any government can make is to invest in blockchain technology.
March 01, 2020, 10:05:59 AM
Regardless of their goals, I think this news will have a good effect, because with more and more governments in conclusion, more countries have their own digital currencies, so that gradually it will also make greater changes and certainly very positive for cryptocurrency itself for a big adoption, because when they have their own digital currency, then of course there will be more and more people who are aware of digital currencies and especially for cryptocurrency at least it will be of greater concern for them.
March 01, 2020, 09:12:57 AM
the government has almost unlimited power to popularize things so thats why its really picky about all sort of things.
So if govs will adopt crypto - they'll make sure most of the population has access to use their crypto as payment option and will greatly help to adopt other crypto also
So if govs will adopt crypto - they'll make sure most of the population has access to use their crypto as payment option and will greatly help to adopt other crypto also
Not sure but obviously, people should be using it since the government will just give some time for the people to use fiat and then it will all be cryptos. But always remember that this will not happen that easily, I don't think it will even happen. Governments obviously are looking at digital currencies being used in their country but it takes time, a lot of time.
March 01, 2020, 06:21:14 AM
It will be a great opportunity for the government to make digital currency but it will still take a long time to improve the economy of the country In the work area everyone is more involved with the project than the centralized project. The government has no control here and everyone uses cryptocurrency as they wish In that case if the government made digital currency it is a positive idea but it has a negative impact on many
the government has almost unlimited power to popularize things so thats why its really picky about all sort of things.
So if govs will adopt crypto - they'll make sure most of the population has access to use their crypto as payment option and will greatly help to adopt other crypto also
March 01, 2020, 03:51:03 AM
It will be a great opportunity for the government to make digital currency but it will still take a long time to improve the economy of the country In the work area everyone is more involved with the project than the centralized project. The government has no control here and everyone uses cryptocurrency as they wish In that case if the government made digital currency it is a positive idea but it has a negative impact on many
sr. member
Activity: 1666
Merit: 267
Earn bitcoins every hour, link below at signature.
February 29, 2020, 11:31:28 PM
Even though most people consider it as good for crypto community its actually not because there is no point of creating such centralized cryptos which makes no difference from the fiat digital transactions.Most governments afraid of decentralized economy so they want to stop it as soon as possible by spreading their own cryptos and asking people to use it to save them from getting scammed.
Once people read and do their own research they will realize that anything centralized is not good for humans. They better support decentralized projects like Bisq or similars where there are no intermediaries like governments or commercial parties.
February 29, 2020, 05:11:00 PM
Even though most people consider it as good for crypto community its actually not because there is no point of creating such centralized cryptos which makes no difference from the fiat digital transactions.Most governments afraid of decentralized economy so they want to stop it as soon as possible by spreading their own cryptos and asking people to use it to save them from getting scammed.
Those coins may seem useless to people like us, but the rest of the population does not really understand how their money works so they are going to be easily convinced by their governments that they have their best interests at heart when that is not the case, the creation of centralized cryptocurrencies is only going to benefit the governments of the world but it may be too soon to try to do that as the number of people interested in this market is still low and most of us will never touch those centralized cryptocurrencies. February 29, 2020, 03:22:32 AM
Even though most people consider it as good for crypto community its actually not because there is no point of creating such centralized cryptos which makes no difference from the fiat digital transactions.Most governments afraid of decentralized economy so they want to stop it as soon as possible by spreading their own cryptos and asking people to use it to save them from getting scammed.
February 29, 2020, 01:11:13 AM
In my opinion, stable digital coins of the states that are now planned to be issued by many of them will be evidence of the adoption of this technology by the states and will contribute to the further spread of a decentralized cryptocurrency. It will also be an additional opportunity for people to choose means of payment. Stable coins of the states will combine the capabilities of cryptocurrency and regular currency. Therefore, this is an opportunity. However, stable state coins contain a certain threat to cryptocurrency, as they will distract people's attention as a means of payment. Decentralized cryptocurrency as a means of payment can noticeably lose due to this demand and popularity.
February 29, 2020, 12:43:09 AM
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, if that really happens, then I think it would be significant to all of us, there is nothing terrible by creating new currencies, but I doubt that they can create it as quick as is, creating cryptocurrencies is so hard, it takes so much time before you have that thing. I hope that they will create a currency that can reach the value of the bitcoin. 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?
I know that is is really impossible because bitcoin has so much value for now compared to other currencies. However, I am still hoping that there would be a currency that will reach the price of a bitcoin. China is a significant and advanced country, so I believe that they can create a useful currency.
February 27, 2020, 11:25:51 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, if that really happens, then I think it would be significant to all of us, there is nothing terrible by creating new currencies, but I doubt that they can create it as quick as is, creating cryptocurrencies is so hard, it takes so much time before you have that thing. I hope that they will create a currency that can reach the value of the bitcoin. 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?
I know that is is really impossible because bitcoin has so much value for now compared to other currencies. However, I am still hoping that there would be a currency that will reach the price of a bitcoin. China is a significant and advanced country, so I believe that they can create a useful currency.
February 27, 2020, 10:25:26 PM
I'm sure there are already many who know about this, and a lot of debate has taken place. there are always three main discussions regarding the reaction of cryptocurrency users in the adoption of this technology.
First, some users are happy because this is likely to have a positive impact on increasing demand in the crypto market, because it seems to have the support of the government. Secondly, with speculation from digital yuan (china) this will most likely lead to digital currency not a cryptocurrency, and certainly the digital yuan is central to almost the same as the yuan in general. this can change the image of cryptocurrency
First, some users are happy because this is likely to have a positive impact on increasing demand in the crypto market, because it seems to have the support of the government. Secondly, with speculation from digital yuan (china) this will most likely lead to digital currency not a cryptocurrency, and certainly the digital yuan is central to almost the same as the yuan in general. this can change the image of cryptocurrency
February 27, 2020, 02:13:29 PM
In my opinion the government makes their own cryptocurrency is a positive thing for the mass adoption of cryptocurrency.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
On the one hand, this is good, from the point of view of mass adaptation of cryptocurrencies among the population, but on the other hand, it will be enough for this population to invest most of its funds in state cryptocurrency once and lose this money due to volatility, as mass adaptation will work in a completely different direction and people will simply hate cryptocurrency and their states that knocked them out on it.
February 25, 2020, 02:51:35 PM
In my opinion the government makes their own cryptocurrency is a positive thing for the mass adoption of cryptocurrency.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
On the one hand, this is good, from the point of view of mass adaptation of cryptocurrencies among the population, but on the other hand, it will be enough for this population to invest most of its funds in state cryptocurrency once and lose this money due to volatility, as mass adaptation will work in a completely different direction and people will simply hate cryptocurrency and their states that knocked them out on it.
February 25, 2020, 09:31:15 AM
In my opinion the government makes their own cryptocurrency is a positive thing for the mass adoption of cryptocurrency.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
Centralized govs backed stablecoins could be really usable in future, however I don't see them as main currency to hold your funds into.
By that I mean ideally it should be possible to easily send btc (for instance) to my digital usd wallet in order to pay in walmart.
February 24, 2020, 03:44:31 PM
In my opinion the government makes their own cryptocurrency is a positive thing for the mass adoption of cryptocurrency.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
Because ultimately the government understands that cryptocurrency is very good to use and can make the future brighter.
And finally more people will get to know about cryptocurrency, and start comparing centrilized cryptocurrency made by the
government and decentralized cryptocurrency on the market today.
February 24, 2020, 03:17:01 PM
Everyone has their own reasons as to why they would consider this as a good idea or maybe not. You know, the main idea of cryptocurrency is to create freedom and to eliminate the middlemen, and also stop the government from being able to manipulate money.
A cryptocurrency that will be created and issued out by the government would be lacking these features of a normal decentralized cryptocurrency and will be controlled by the government. I might say it’s a threat, because most people out there already sees Bitcoin as not being genuine and if the government should release their own cryptocurrency these people are going to adopt it for sure, and it’s going to win wide adoption than Bitcoin.
The threat level of such a currency will depend entirely on the reception it receives from the average person, if they ignore it and do not see a need to adopt those centralized cryptocurrencies then soon enough those coins will die or at least become something that no one uses, as such in this scenario their threat level is minimum as those interested in this market keep investing in it, however if the average person gets on board and adopts those coins then it is possible all money could become a centralized cryptocurrency in which case your only hope for some freedom and privacy will be coins like bitcoin which at that point will probably be banned by the governments. A cryptocurrency that will be created and issued out by the government would be lacking these features of a normal decentralized cryptocurrency and will be controlled by the government. I might say it’s a threat, because most people out there already sees Bitcoin as not being genuine and if the government should release their own cryptocurrency these people are going to adopt it for sure, and it’s going to win wide adoption than Bitcoin.
February 23, 2020, 02:40:17 AM
I think this is an important step towards introducing cryptocurrency to the masses. Now when everyone knows about cryptocurrency, people still can’t trust the services on which most people buy or exchange their coins. At the moment, everything is in the hands of private companies and services. When people see that cryptocurrency is now officially recognized at the country level, that all the conditions for safe and quality use of this are created, then those people who still doubted the cryptocurrency will want to use it themselves. I believe that state support is very important (the main thing is that this is support, not control).
February 22, 2020, 06:36:51 PM
It have good side and bad side. If the government creates its own currency then there will be more publicity about digital currency. More and more people will know about digital currency. But the government will create a centralized currency. Which will be controlled by the government like the paper money.The government can increase the supply if they want. One of the big problems here is this. Government will never create decentralized currency!
Obviously, they won't. Why would they create something that they won't have control of? Where they usually want to take mostly everything and take control of it. It may be an opportunity for a lot of people but the main idea of crypto currencies or bitcoin which is anonymity that is free from control will not be the same with their crypto currencies.
February 22, 2020, 05:54:10 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.
This actually gives an opportunity to their country's citizen because it means government would be making it legal or it is legal already and such coins in long term would definitely do better as it is backed by government and in coming times government would be bringing it as a mode of payment for various business and would encourage other people also to make the digital payment. This would boost the demand of such coins and price will rise.
Really? You think it's an opportunity? How is a government issued centralized crypto different from fiat money? You can make digital payments using a bank app installed on your phone. You don't need government crypto for that.
What opportunity does it give to the people? They will give them fake crypto to make them not buy the real thing and continue to watch and control their every move.
Jump to: