Topic: Goverments creating digital currencies - Threat or Opportunity? - page 9. (Read 3542 times)
February 22, 2020, 12:23:07 PM
In my opinion the government is making digital currency not a threat but it is great news for us With blockchain the government can substitute banks for crypto use in every country which will make transactions much easier. The industry will improve and the market conditions will be higher and the whales of the market will no longer be dominated.
February 22, 2020, 09:17:20 AM
They just want to create another one form of fiat. nothing interesting
February 22, 2020, 05:24:00 AM
I believe its a great step towards blockchain adoption, although it will come with bits of centralization or even total centralization, still yet its an assurance that crypto is getting more recognition and really, its a good news for the industry.
The creation of a national digital currency cannot be decentralized in essence. The state will make every effort to ensure that all payments in this currency are under the control of the relevant authorities. We must remember that the interests of the state do not always coincide with the interests of its citizens. Therefore, each country is interested in creating its own national digital currency.
February 22, 2020, 03:37:11 AM
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.
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 20, 2020, 12:04:47 PM
I don't really think that we should consider them as a threat at all.
They join the crypto because they know that they wouldn't win with it.
And besides it would just be another alt-coin in the market and in terms of crypto BTC is still the King and there is still no one who could replace it or surpass it.
They join the crypto because they know that they wouldn't win with it.
And besides it would just be another alt-coin in the market and in terms of crypto BTC is still the King and there is still no one who could replace it or surpass it.
February 20, 2020, 11:07:01 AM
That is probably true but this is a positive argument for the government. They could also check the accounts of every citizen, see their transaction history, control what they do and at the end we would end up like the Social Credit System of China. In the end it eliminates privacy for normal people.
And that is by far the greatest danger, some level of privacy is required between us, some people will say that they have nothing to hide since they are not doing anything wrong but even if that is the case we still need some level of privacy, centralized cryptocurrencies owned by the government or banks will allow them to know exactly what you have done with your money at all times and if they do not like what you are doing they could freeze your assets or take them away from you. 
February 18, 2020, 01:51:16 PM
It's not a threat IMO, this would only say that they are adopting with the trend which is the online currency.
Not a threat for cryptocurrency as well as government create digital currency not for investment but as a payment tool only, to make transactions faster and more transparent but crypto or bitcoin, it offers an investors to those who believe on the system and it is decentralized that no government could control.
Not a threat for cryptocurrency as well as government create digital currency not for investment but as a payment tool only, to make transactions faster and more transparent but crypto or bitcoin, it offers an investors to those who believe on the system and it is decentralized that no government could control.
Crypto such as Bitcoin are also suitable for paying . Infact there are now btc ATM , merchants or stores that accept btc and many more . I use my btc for purchase of digital and physical goods .now if my government or country create a digital currency similar to crypto that only means that they aren't comfortable with cryptos alone and they create their own because they don't want people to use btc and other original cryptos. As soon as they create it , they can now file a law that bans crypto currency , as simple as that .
crypto is widely accepted to their place or not.It would be just a matter of choice into its citizens on which one they would use but come to think that people would always rely on fiat and crypto
will really be just an alternative.This is way more better and acceptable rather than government on said place will totally ban it. Threat is just a word for those countries who do saw about crypto features
negatively.
February 18, 2020, 10:53:58 AM
It's not a threat IMO, this would only say that they are adopting with the trend which is the online currency.
Not a threat for cryptocurrency as well as government create digital currency not for investment but as a payment tool only, to make transactions faster and more transparent but crypto or bitcoin, it offers an investors to those who believe on the system and it is decentralized that no government could control.
Not a threat for cryptocurrency as well as government create digital currency not for investment but as a payment tool only, to make transactions faster and more transparent but crypto or bitcoin, it offers an investors to those who believe on the system and it is decentralized that no government could control.
Crypto such as Bitcoin are also suitable for paying . Infact there are now btc ATM , merchants or stores that accept btc and many more . I use my btc for purchase of digital and physical goods .now if my government or country create a digital currency similar to crypto that only means that they aren't comfortable with cryptos alone and they create their own because they don't want people to use btc and other original cryptos. As soon as they create it , they can now file a law that bans crypto currency , as simple as that .
February 18, 2020, 04:20:48 AM
It's not a threat IMO, this would only say that they are adopting with the trend which is the online currency.
Not a threat for cryptocurrency as well as government create digital currency not for investment but as a payment tool only, to make transactions faster and more transparent but crypto or bitcoin, it offers an investors to those who believe on the system and it is decentralized that no government could control.
Not a threat for cryptocurrency as well as government create digital currency not for investment but as a payment tool only, to make transactions faster and more transparent but crypto or bitcoin, it offers an investors to those who believe on the system and it is decentralized that no government could control.
February 17, 2020, 03:21:18 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.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?
I believe its a great step towards blockchain adoption, although it will come with bits of centralization or even total centralization, still yet its an assurance that crypto is getting more recognition and really, its a good news for the industry.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?
February 17, 2020, 02:26:23 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!
February 17, 2020, 11:55:32 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?
I believe its a great step towards blockchain adoption, although it will come with bits of centralization or even total centralization, still yet its an assurance that crypto is getting more recognition and really, its a good news for the industry. 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?
February 17, 2020, 10:27:14 AM
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.
February 17, 2020, 10:17:39 AM
I think it's a positive but I think it wouldn't be decentralized just like the cryptocurrency since they would not be able to control the value of it I think they would just create an extension of their currency, well i think it would just like an ordinary currency like online credits on their phones unlike the cryptocurrency it's a decentralized currency without anyone dictating its value or managed to control its value.
However the thereat is the volatility of the value of their currency if they implemented the decentralized digital currency.
However the thereat is the volatility of the value of their currency if they implemented the decentralized digital currency.
February 17, 2020, 09:01:58 AM
Government crypto is like any centralised coin, supply will be changed when government wants it, government will control all the nodes, so they will be able to control transactions, reverse transactions, speed up some and stop other transactions, burn or add more coins, and so on.. People will be only users, users who follow the rules set by a government. All in all pretty much the same as we have this economic model, just with blockchain control can be harder.
It's a threat for people, governments will be able to control literally everything with their own chain. Opportunity for the people is a true decentralised project, and only that can make real changes on the global stage and for all the people of the world.
It's a threat for people, governments will be able to control literally everything with their own chain. Opportunity for the people is a true decentralised project, and only that can make real changes on the global stage and for all the people of the world.
February 17, 2020, 06:46:58 AM
Back in October 2019, an appeal was signed with a proposal to create a digital dollar. And the concern of congressmen was caused by the fact that now more than 40 countries have started developing their own digital currencies. It is alarming that America may be the last in this race.
February 17, 2020, 05:50:40 AM
If have connected with blockchain and bitcoin or altcoin own cryptocurrency created by government is good and potential for investing, but depend how serious of government after their coin have been publish and keep exist to public for continue and growing to higher price.
February 16, 2020, 04:25:58 PM
In my opinion, the move to create their own digital currency is a positive development.
It means, that the government believes the benefits gained from this technology.
With their action, they are indirectly showing to its constituents that they trust crypto.
Which will then give a positive mindset towards crypto and so it will create more demand of usage.
I consider it as an opportunity to widen the usage of crypto and not a threat.
People later on will see the difference between a decentralized vs centralized coin.
So it will be their choice which one they will use when that time comes.
It means, that the government believes the benefits gained from this technology.
With their action, they are indirectly showing to its constituents that they trust crypto.
Which will then give a positive mindset towards crypto and so it will create more demand of usage.
I consider it as an opportunity to widen the usage of crypto and not a threat.
People later on will see the difference between a decentralized vs centralized coin.
So it will be their choice which one they will use when that time comes.
Digital currencies, in addition to mass introduction into everyday life, will allow the government to solve the problem associated with counterfeit money. In addition, it is an opportunity to reduce the costs associated with the issuance of fiat money and their maintenance.
That is probably true but this is a positive argument for the government. They could also check the accounts of every citizen, see their transaction history, control what they do and at the end we would end up like the Social Credit System of China. In the end it eliminates privacy for normal people.
February 16, 2020, 06:58:55 AM
In my opinion, the move to create their own digital currency is a positive development.
It means, that the government believes the benefits gained from this technology.
With their action, they are indirectly showing to its constituents that they trust crypto.
Which will then give a positive mindset towards crypto and so it will create more demand of usage.
I consider it as an opportunity to widen the usage of crypto and not a threat.
People later on will see the difference between a decentralized vs centralized coin.
So it will be their choice which one they will use when that time comes.
It means, that the government believes the benefits gained from this technology.
With their action, they are indirectly showing to its constituents that they trust crypto.
Which will then give a positive mindset towards crypto and so it will create more demand of usage.
I consider it as an opportunity to widen the usage of crypto and not a threat.
People later on will see the difference between a decentralized vs centralized coin.
So it will be their choice which one they will use when that time comes.
Digital currencies, in addition to mass introduction into everyday life, will allow the government to solve the problem associated with counterfeit money. In addition, it is an opportunity to reduce the costs associated with the issuance of fiat money and their maintenance.
February 16, 2020, 12:46:03 AM
Entities creating decentralized coins is totally independent from the coins so I don't understand what governments will achieve by doing it, let's say US creates a decentralized coin that's now dominating the world, what good will it bring to US except for famous name because of coin name but it will not get any additional benefits as it can't control a decentralized coin. Governments should just adopt bitcoin and crypto if they really wanna go decentralized.
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