Government digital currency! | Bitcointalksearch.org

cellard

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Quote from: socks435 on December 19, 2016, 01:13:43 PM

Quote from: coinplus on December 19, 2016, 12:55:47 PM

Quote from: avatar_kiyoshi on December 16, 2016, 02:52:23 AM

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote

Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

I just wonder what would be the advantage of mixing blockchain technology with a centralized system.

I believe this must be a basic controversy as blockchain technology is being used in crypto-currencies just because of having a trustless system. A centralized system cannot be a trustless system so obviously it does not require to record transactions in blockchain. They can simply have a system similar to Paypal.

Yeah it can be similar to paypal if our blockchain system will be centralize. i hope that it can be happen since it is honestly to verified my account that is why i am just using bitcoin because they are need government id becausei do not have any of those identity..

It depends on what the community does with bitcoin. If the community decides to go the big block route + no segwit, we are no doubt at all, fucked. The banks are waiting for something like Bitcoin Unlimited to happen (or god forbid, any of the ridiculously high blocksize increase proposals). They are waiting for the right momeny to turn Bitcoin into Paypal 2.0. And remember, Roger Ver seems to be ok with this:

http://coinjournal.net/roger-ver-paypal-acceptable-risk-bitcoin/

Everything seems to fit together... the whole attack to Core and Blockstream while claiming it's ok to turn Bitcoin into Paypal 2.0 and shilling Bitcoin Unlimited everywhere he can... pretty clear what's going on.

Luckily it seems they are as irrelevant as ever, Bitcoin Core is still king and BU is just another marginal software. Now if we could come into an agreement to get segwit going we would push Bitcoin to the next level and take over the world.

bohr

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Quote from: avatar_kiyoshi on December 16, 2016, 02:52:23 AM

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote

Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

Don’t expect that any country is going to create something like Satoshi did, they are going to adopt some ides but leave the rest of the characteristics that benefit them alone, that is why we must support bitcoin and some other alts since only them offer what we are looking for.

shiryu

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Quote from: machinek20 on December 19, 2016, 07:25:15 AM

I doubt anybody is interested in the crypto currency that created by government, the point of the government want to create its own coin is because the government want to control our transaction, so i still prefer to use bitcoin

Perhaps at the moment not interested, but when it really happens and if how its use is almost the same with bitcoin certainly people who do not believe in bitcoin would be interested to using it.

strasboug

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It makes sense for government to issue digital currency, just like the fiat, but they have better control over the money flow etc. We've been hearing that US Fed is looking into the "FedCoin". I am sure some government will do it sooner than later.

isen

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No doubt that their attempt to copy BTC will fail, people who are already using Bitcoin will never switch to a centralized digital currency controlled by a government or a bank.
There are no advantages in a coin like this, even fiat money is a much better option IMO.

lol3c

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Quote from: machinek20 on December 19, 2016, 07:25:15 AM

I doubt anybody is interested in the crypto currency that created by government, the point of the government want to create its own coin is because the government want to control our transaction, so i still prefer to use bitcoin

Governments will know the way to force companies and people investing these coin. And they will be punished if they do not accept what the governments' order. Some restrictions will be promulgated if the government honestly want to improve its coin

Positid

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Quote from: machinek20 on December 19, 2016, 07:25:15 AM

I doubt anybody is interested in the crypto currency that created by government, the point of the government want to create its own coin is because the government want to control our transaction, so i still prefer to use bitcoin

People always prefer the original but we still cannot beat the government, when they will announce new system with crypto copy cat, more people will still adopt for legitimate business but bitcoin enthusiast will always remain here.

MFahad

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Quote from: socks435 on December 19, 2016, 01:13:43 PM

Quote from: coinplus on December 19, 2016, 12:55:47 PM

Quote from: avatar_kiyoshi on December 16, 2016, 02:52:23 AM

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote

Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

I just wonder what would be the advantage of mixing blockchain technology with a centralized system.

I believe this must be a basic controversy as blockchain technology is being used in crypto-currencies just because of having a trustless system. A centralized system cannot be a trustless system so obviously it does not require to record transactions in blockchain. They can simply have a system similar to Paypal.

Yeah it can be similar to paypal if our blockchain system will be centralize. i hope that it can be happen since it is honestly to verified my account that is why i am just using bitcoin because they are need government id becausei do not have any of those identity..

yet it is everyone's wish to have their own digital currency especially the bitcoin so if they want to take an access bitcoin is fast as others which come up to 2 days for confirmation like paypal

socks435

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Quote from: coinplus on December 19, 2016, 12:55:47 PM

Quote from: avatar_kiyoshi on December 16, 2016, 02:52:23 AM

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote

Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

I just wonder what would be the advantage of mixing blockchain technology with a centralized system.

I believe this must be a basic controversy as blockchain technology is being used in crypto-currencies just because of having a trustless system. A centralized system cannot be a trustless system so obviously it does not require to record transactions in blockchain. They can simply have a system similar to Paypal.

Yeah it can be similar to paypal if our blockchain system will be centralize. i hope that it can be happen since it is honestly to verified my account that is why i am just using bitcoin because they are need government id becausei do not have any of those identity..

coinplus

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Quote from: avatar_kiyoshi on December 16, 2016, 02:52:23 AM

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote

Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

I just wonder what would be the advantage of mixing blockchain technology with a centralized system.

I believe this must be a basic controversy as blockchain technology is being used in crypto-currencies just because of having a trustless system. A centralized system cannot be a trustless system so obviously it does not require to record transactions in blockchain. They can simply have a system similar to Paypal.

deisik

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Quote from: funkenstein on December 18, 2016, 03:10:47 PM

Quote from: avatar_kiyoshi on December 16, 2016, 02:52:23 AM

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote

Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

The most important thing is if the the issuance is PUBLIC or PRIVATE. With bitcoin the issuance is public. If people claiming to be representatives of Denmark (or other nations) make a digital coin, even if centrally controlled and variable issuance (i.e. they can create as much a they want) - if the issuance is PUBLIC then at least people will know! This is a huge improvement over the privately issued scrip which we call fiat, where nobody knows for certain how much has been created.

Central banks usually reveal the rough estimates on their sites

I mean monetary aggregates (like M0, M1, M2...) which are used to measure the amount of money circulating in the economy. But, in fact, with fiat it can be really hard to tell for certain how much money exists at this very moment since fiat money is created as well as destroyed endogenously, i.e. inside the system itself by commercial banks. Most part of money in the modern monetary system exists in the form of bank deposits, but these are created and liquidated every now and then. And this is not a fault, this is an intended and valuable feature of the fiat system

Weatherby

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The main thing that attracts the digital currency platform is because it is free of rules and regulation by the corrupted and that is the reason people starts migration to bitcoin and when the government starts a digital currency then it is a different vision.

iqlimasyadiqa

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This is something that makes the era of evolving digital currency. I see the potential that generated the current bitcoin. if developed better, I'm sure this will be one of the economic power in the world.

YuginKadoya

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Quote from: ljudotina on December 16, 2016, 01:30:34 PM

Quote from: YuginKadoya on December 16, 2016, 10:10:46 AM

Possible Cases on other country making their own crypto is real that is why there are some that are really want to know who and where is Nakamoto but they have fail it finding him but the possibility in making their own has a high chance and we are in a certain age of higher technology now.

Bitcoin is open source. Noone needs Nakamoto to create their own BTC. Noone needs Nakamoto for anything really anymore...BTC is out of hes hands, he let it go and only thing he (or they) may have from it is value they have in their BTC wallets (if they have access to them)

I am not saying that Nakamoto can take control over bitcoin when they see him or they, but the Idea of Bitcoin it a big hit that is why they would try and make their own digital currency that can overcome bitcoin, but In my opinion is a very long process to take because bitcoin had start with no value at all and then it just got popular over the years, and the Idea of taking bitcoin for themselves are as blur as it gets.

pereira4

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Quote from: machinek20 on December 19, 2016, 07:25:15 AM

I doubt anybody is interested in the crypto currency that created by government, the point of the government want to create its own coin is because the government want to control our transaction, so i still prefer to use bitcoin

Well most people are stupid and they will not even understand whats going on, so they will swallow whatever bullshit the government comes up with. Most people don't even understand the concept of decentralization and centralization, which are basic requirements in order to see a point in using bitcoin beyond speculation.

Catmony

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Quote from: ufaiz50 on December 18, 2016, 07:19:38 PM

if denmark create own digital currency whether there will be a tax? considering Denmark became one of the countries with the highest taxes in the world. it may be a one step progress of digital currency

Obviously government issued digital currency will have same level of tax like for paper money. One of the reason for government to Digitize whole economy is to put tight regulation in collection of tax so even when these government will release their blockchain based currencies they will be subjected to tax.

chixka000

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Quote from: machinek20 on December 19, 2016, 07:25:15 AM

I doubt anybody is interested in the crypto currency that created by government, the point of the government want to create its own coin is because the government want to control our transaction, so i still prefer to use bitcoin

Me either would not love the government to have their own cryptocurrencies. Bitcoin for me is enough being owned by no one which also means that we don't have to worry too much about how we use it.

machinek20

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I doubt anybody is interested in the crypto currency that created by government, the point of the government want to create its own coin is because the government want to control our transaction, so i still prefer to use bitcoin

nasipadang

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it was nice to the digital world and especially for bitcoin cause bitcoin which introduces cryptocurrency

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Quote from: ufaiz50 on December 18, 2016, 07:19:38 PM

if denmark create own digital currency whether there will be a tax? considering Denmark became one of the countries with the highest taxes in the world. it may be a one step progress of digital currency

If they are imposing high tax on fiat then we should expect that they would the same thing too on the times that they create their own cryptocurrency.It doesnt mean that they create a crypto they would evade tax. Creating a new crypto by new government will really takes time to implement nationwide.

Topic: Government digital currency! (Read 4018 times)