I've seen your point. If its true that government will create their own digital currencies, then there's no wrong with that as long as it will be access by everyone for their own convenience. But if its only made to invest and trade crypto, then maybe only the government will have access on it since its also being manipulated of its own price. I don't think people will still patronize it knowing they already have bitcoin wherein they have the full control on it and probably, higher value compared to government cryptocurrencies.
I don't think that could be only give its citizen a good outcome, government will create their own coin?what could be the purpose of it? does the circulation supply of their fiat will reduce and from physical money it will be into digital? and also that would be regulated and expect higher taxes it could be, since they will put so much R&D and pay high level network security personnel so that when somebody will try to hack their system they will fail. 
Topic: new central banks currenicies vs fiat currency? (Read 712 times)
In fact, this is good news, if indeed the central bank will make crypto currency then this crypto will develop even more well. I think fiat currencies will still exist and will still exist even though central banks make crypto. Because there are still a lot of traditional people who don't understand and know crypto so fiat is still very much needed and will continue to be needed.
The central banks of the states will not issue cryptocurrency in the meaning as we know about it. These will be their usual currencies, only in digital form and powered by blockchain technology. However, their essence will remain the same. These will be the same centralized currencies of states, but with improved capabilities thanks to blockchain technology. 
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the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
What? That sounds like a strange conspiracy. CBDCs will be like cash, but digital and traceable. Maybe government want also to earn in crypto using their own digital currency. If ever, I think it could help the economic financial problem because the digital currency is just use for investing and trading while fiat currency will remained on it's status as countries national currency. Also, I think that's the another way of the government to recover from the severe damage in the economy caused by covid 19 pandemic, because I know that government are aware about the growing community that continuously patronizing and investing in crypto.
the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
first whats wrong with fiat currency? the cash is works good nothing wrong with this.
second how they are going to control how much to issue the currency and how the value will be backed?
and by who the transparanscy is guranteed?
I am also of the opinion that BTC and ETH were needed as startups to roll out all the processes. In reality, no state is interested in the emergence of surrogate money. Of course, the states are considering the possibility of creating their own national cryptocurrencies, and this looks more real than the acceptance in the world of BTC or ETH or other cryptocurrencies issued by someone who is not clear and for what. Are you asking what's wrong with fiat money? Well, look at the dollar, it is printed without restrictions, but is that right? I also do other countries that now have problems both in industry and in financial and political spheres. What will the national cryptocurrencies give? First of all, this is an opportunity to get rid of old money, which is now of dubious value, here there is a storm of internal and external debts, the cryptocurrency will have a limited amount and be distributed quickly, reliably and it will not be possible to steal or commit muddy schemes. In general, I see it as a new system that is more perfect and efficient than it is now.
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the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
What? That sounds like a strange conspiracy. CBDCs will be like cash, but digital and traceable. Maybe government want also to earn in crypto using their own digital currency. If ever, I think it could help the economic financial problem because the digital currency is just use for investing and trading while fiat currency will remained on it's status as countries national currency. Also, I think that's the another way of the government to recover from the severe damage in the economy caused by covid 19 pandemic, because I know that government are aware about the growing community that continuously patronizing and investing in crypto.
In fact, this is good news, if indeed the central bank will make crypto currency then this crypto will develop even more well. I think fiat currencies will still exist and will still exist even though central banks make crypto. Because there are still a lot of traditional people who don't understand and know crypto so fiat is still very much needed and will continue to be needed.
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the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
What? That sounds like a strange conspiracy. CBDCs will be like cash, but digital and traceable. 
Fiat currency is a currency that does not have an intrinsic value but is considered a legal tender under the law issued and managed by the central bank operates independently of the central bank states will never be able to stabilize other currencies instead of fiat because everything except fiat is decentralized. The government cannot maintain their stability central banks will not accept current instead of Fiat currency because it is not used as a new currency in many states banks cannot manage.
The stablecoins of the central banks of states are the fiat currency of these states, but in a slightly different form. In fact, stable coins of states are one of the types of non-cash payments, only they no longer work on the old SWIFT method, but on blockchain technology. Therefore, stablecoins of states and their common currencies should not conflict with each other.
the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
first whats wrong with fiat currency? the cash is works good nothing wrong with this.
second how they are going to control how much to issue the currency and how the value will be backed?
and by who the transparanscy is guranteed?
The digital currency they are creating is for things to be better, but it’s still similar to the fiat money, I don’t know why they are making it seem like their central bank digital currency will be something very different, nah it wouldn’t, and it’s going to be issued by central banks, it’s same as holding fiat. Already there are much we can do without the need of the digital currencies they are trying to create.
We don’t know who created Bitcoin, since that’s remained a secret from the start. But, we have seen so many theories about who the creator of Bitcoin is, and I have seen one that even linked it to the US government, saying that they are the ones behind it and that’s why they were pretty good at covering their tracks so that no one will find out who the creator was.
Anyway, it’s no longer a new thing that they are trying to make it centralized, though that’s only going to be possible through exchanges, but it still wouldn’t change cryptocurrencies from being decentralized, only the ones that are sent to exchanges will be traced.
Anyway, it’s no longer a new thing that they are trying to make it centralized, though that’s only going to be possible through exchanges, but it still wouldn’t change cryptocurrencies from being decentralized, only the ones that are sent to exchanges will be traced.
This is why I am in crypto world, I prefer to stay in crypto world because I feel like this is where I am taking the control over my own finances and I will continue to do that as long as I can afford to. I am planning on getting a crypto card soon as well, that way I will be capable of spending as much crypto as I want anywhere I go without the need to cash out to fiat.
Make sure to buy the card from a provider who does not charge much on each deposit because I remembering purchasing a virtual card with Bitcoins which could be loaded with Bitcoins but they charged too high of fees and the card was working on some merchants but not all.I don't think that's how it is but rather government from every local country is trying to understand the way crypto currency is behaving. They surely amazed why a thing like this in a decentralized space captivate the attention of the world.
The government might be considering their own token because of the interest and investment coming into the Bitcoins but they need to understand that Bitcoins is so popular because it cannot be traced and while not meant to be for illegal activities but a lot of illegal betting and sales happen via help of Bitcoins. 
The digital currency will be also based on the reserved funds that already limited to be issued into the digital form.
The government was getting such an idea caused by the popularity of the stable coins. People these days were moving to the stable coins to do any online transactions and they have started to leave the fiat currency.
BTC and ethereum have nothing to do with this CBDC. There's nothing wrong with fiat currency.
There's no need for transparency because it will be fully centralized.
I think it will hard government to operate in a decentralized currency which they can't have access to market exchange. Bitcoin and Ethereum will still maintain their position in the market of exchange.
Exactly because if they make the coins centralized like something as Tether then there will be no scope and I don't know why people will even buy it because the price would always remain same and there is always the government eye on it. The basic aim for which cryptocurrency was made is to keep the transactions anonymous and a currency powered by people so if the government are actually going to create their own crypto they might fall flat and the lack of interest will kill their coin.They already have fiat which is working good for them and they do not need to match or jump into crypto market unless they have a solid plan and reasoning behind the creation of a new coin which somehow gets attention and I would never want to invest in a coin that is not decentralized.
the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
How do you think the relationship between volatility and economical growth will react, it will be a suicide which will be even centralized by big players and politicians. Let's assume your country releases a coin prototype for example of 31 million and governments decide to withhold 70%, how will you feel?
Have you thought about change of regime? This are my reasons and opinion.
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first whats wrong with fiat currency?
There are so many thing wrong with fiat currency, for example : devaluation of value, Price Instability and concentration of wealth to certain groups of powerful people. This is pure wickedness which is heartedly entertained by average people in the real world. In cryptocurrency, this has birth to DeFi and its really working except for some little difficulties.
we have not seen what is wrong with digital currency yet which is what OP could be saying. the government wants control and this digital currency will help the government making our transactions more transparent for the authorities to monitor. they may send Interpol right to your doorstep when they see you spend suddenly large sums to buy a car.
whats wrong with fiat/cash? well they can't be traced and online transactions can't be transparent with it. made the think CBDC is a solution.
the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
How do you think the relationship between volatility and economical growth will react, it will be a suicide which will be even centralized by big players and politicians. Let's assume your country releases a coin prototype for example of 31 million and governments decide to withhold 70%, how will you feel?
Have you thought about change of regime? This are my reasons and opinion.
Quote
first whats wrong with fiat currency?
There are so many thing wrong with fiat currency, for example : devaluation of value, Price Instability and concentration of wealth to certain groups of powerful people. This is pure wickedness which is heartedly entertained by average people in the real world. In cryptocurrency, this has birth to DeFi and its really working except for some little difficulties.
Doesn't really matter which one they go with, both of them are basically the same thing and I wouldn't really stress about choosing one. Personally if you think central banks creating digital currencies will be anything other than fiat currency you are fooling yourself, it will have literally the same exact problems as the other ones while having absolutely nothing improved on it.
This is why I am in crypto world, I prefer to stay in crypto world because I feel like this is where I am taking the control over my own finances and I will continue to do that as long as I can afford to. I am planning on getting a crypto card soon as well, that way I will be capable of spending as much crypto as I want anywhere I go without the need to cash out to fiat.
This is why I am in crypto world, I prefer to stay in crypto world because I feel like this is where I am taking the control over my own finances and I will continue to do that as long as I can afford to. I am planning on getting a crypto card soon as well, that way I will be capable of spending as much crypto as I want anywhere I go without the need to cash out to fiat.
What kind of transparency are we talking about? Banks create a centralized currency, fully controlled, with full stopping transactions and funds freezing.
They don't need transparency, they need control. You will have to go through self-identification procedures to have access to use these currencies. Don't expect it to look like a regular cryptocurrency.
Actually to use the regular crypto currencies we already have to follow the procedures you mentioned. The governments through their regulatory agencies already control our activity on the internet and our crypto transactions and funds at exchanges, but it's not enough for them. They want to create their own national crypto currencies.They don't need transparency, they need control. You will have to go through self-identification procedures to have access to use these currencies. Don't expect it to look like a regular cryptocurrency.
It's hard to say what is their purpose yet, but I don't expect any good from this.
What kind of transparency are we talking about? Banks create a centralized currency, fully controlled, with full stopping transactions and funds freezing.
They don't need transparency, they need control. You will have to go through self-identification procedures to have access to use these currencies. Don't expect it to look like a regular cryptocurrency.
Government want complete transparency over our transactions that kind of transparency they are looking for and some governments are successfully created it as well but now all they need to convince the people is that cryptos are not safe and CBDCs are really safe. They don't need transparency, they need control. You will have to go through self-identification procedures to have access to use these currencies. Don't expect it to look like a regular cryptocurrency.
I agree with you. However, digital currency is much more stronger than fiat because it is fully centralized by the central banks. You can launder those money without being caught by the authorities. Everything will become more transperency, easier to trace and you sn not escape from the government. I wonder if professional hacker can interupt the system. This can be consider as innovation of humankind although many people will be fully controlled by their country. Just look at China. Even though cbsc is just a test, citizens behaviors can easily be observed
As mentioned above, the digital currency of Central banks is only one form of Fiat currency and any opposition between them is meaningless in its essence. I think that despite the greater degree of state control over digital currencies, hackers will still find loopholes and ways to deceive the system, because the confrontation between the shield and the sword has a long history and will continue at a new technological level, because absolutely everything is impossible to foresee in principle and there will always be things that allow for double interpretation. But this is a philosophical question 
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