official Indian Crypto Currency | Bitcointalksearch.org

olushakes

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Quote from: ashuK27 on September 21, 2017, 07:18:41 AM

What are your thoughts on an Indian fiat cryptocurrency?
Do you think that it could replace Bitcoin in India?

In India, it could replace bitcoin in terms of popularity and the reason for that is because government will be pushing it with every facilities and infrastructures and would ensure that every news agency whether online or offline will be talking about it but when it comes to use, I don't see it replacing bitcoin because only if they can stop bitcoin use, and the new entrants will come to even absorb bitcoin when they realize government couldn't do anything about it.

VackFromOhm

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It's turtles all the way down!

I'd honestly have to see how governments start to handle cryptocurrencies - how many bad decisions they can make, and how short of a time frame they can make them in!

Having a fiat cryptocurrency (??) would have a lot of trust in it, and the price, I imagine, would stabilize heavily... Though would be subject to a lot more variables, as now there is an entire government (and people's livelihood) on this coin. What would also be interesting would be how people in the country would adopt the coin, in places like India I'm not sure how many of them have computers that they can use to interface with these coins. What makes fiat work is that it's a physical thing that can be handed off, while digital currency requires some technical experience in order to use safely.

Thanks for bringing this up, I'm definitely going to keep an eye of these sorts of things now (and maybe invest!).

SKR27

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as I got news segwitx2 on the way this November, if it's effect negative on bitcoin then alt coin such as official indian crypto(Laxmi) have bright future. what u say?

MiF

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Quote from: ashuK27 on September 21, 2017, 07:18:41 AM

What are your thoughts on an Indian fiat cryptocurrency?
Do you think that it could replace Bitcoin in India?

This will be a proudly Indian made crypto currency. Everyone can developed a new coin but the problem is if the bitcoin enthusiast will invest to this coin but im pretty sure that the this coin will be number one inside India as the Indian people will support their coin but only secondary to bitcoins. This is the part of their program after legalizing the bitcoin i hope many nations will follow this brilliant steps including our country.

BTCLovingDude

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BTC to the moon is inevitable...

Quote from: ashuK27 on September 21, 2017, 07:18:41 AM

What are your thoughts on an Indian fiat cryptocurrency?
Do you think that it could replace Bitcoin in India?

if they were trying to replace bitcoin with that cryptocurrency (i think it is called Lakshmi) they wouldn't have made bitcoin legal. they actually done that this year after a lot of debate.

their cryptocurrency is centralized and it is also in the early stages not ready for becoming big. some say the banks are doing it to make some money and cover their asses.

coingrow

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Indian government is yet to make its stand clear on the status of bitcoin and other cryptocurrencies. From the looks of it they are still going to take a long time to figure this out. First they will have to legalize the crypto or bitcoin and then come up with their own currency. IMO, China or Russia might actually do it before India and rest of the world countries who are pondering onto this idea. But then can a country specific crypto currency be actually decentralized?

TrumpD

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It was only a matter of time, watch other countries jump on the bandwagon, but so long as it is a centralized coin, bitcoin will be number one.

n4poleon

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I don't think it's a good a idea to give cryptocurrency a nationality. The idea is should be borderless, censorship-resistant and decentralise. So when you country claims to make this type of things it is usually because their system is dying and the word "cryptocurrency" is makertly appealing when in fact what they are creating is no different than just a digital version of fiat.

Beerwizzard

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I would say that it is a bad idea unless this Indian coin have any special usage or unique qualities that will point it out os the other cryptocurrencies. The fact that this coin is "indian" and the others are not doesen't look like a big advantage. if they want to fight iflation this way then they can just guarantee their local currency with a some part of BTC.

nareshrohra

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I think there will be one. For the government, it is perhaps taking a bitter pill. They don't like other cryptocurrencies because, well they are mined elsewhere. GoI will surely try to make this currency analogus to fiat except being digital and distributed ledger. To that end, it is going to be a bumpy ride

.

But, having said that, given present government's record I would expect some flip-flops on this decision.

ashuK27

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Quote from: klf on September 27, 2017, 03:08:31 AM

Quote from: SKR27 on September 22, 2017, 01:50:43 AM

Even Malaysia's central bank could introduce rules around cryptocurrencies by the end of this year.
So as on my opinion official crypto currencies of different countries will have bright future.

Introducing rules and coming up with their own cryptocurrencies are totally different. If governments introduce any product then surely it will have a more trust but not sure whether people will go for it. Anyway they haven't provided any details of their new coin so let's wait and see how it is different from bitcoin or it is just copy of bitcoin.

Sure just wait and watch. but we can't deny that governments will launched or already launched their own crypto unofficially

jyotianand01

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This is still a rumor as no Indian government official release comes from any end. Whenever Indian government decide to start its own crypto currency, you can see that news on all major crypto channels and also on all international business channels as it will change the whole crypto world scenario and also will be number one if supported by Indian government.

CrazyCreeptonaut

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Official coin in every country with LN would be great
it can "replace" bitcoin and used inside the country, and if some1 moves to other country , he can swap it ...
maybe its the future

klf

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Quote from: SKR27 on September 22, 2017, 01:50:43 AM

Even Malaysia's central bank could introduce rules around cryptocurrencies by the end of this year.
So as on my opinion official crypto currencies of different countries will have bright future.

Introducing rules and coming up with their own cryptocurrencies are totally different. If governments introduce any product then surely it will have a more trust but not sure whether people will go for it. Anyway they haven't provided any details of their new coin so let's wait and see how it is different from bitcoin or it is just copy of bitcoin.

MAVO_EezznkQ

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Quote from: ashuK27 on September 27, 2017, 02:59:56 AM

Quote from: SKR27 on September 27, 2017, 02:57:02 AM

Quote from: mozillaspez on September 23, 2017, 05:49:57 AM

Quote from: vfrcbv91 on September 22, 2017, 04:18:57 AM

Hardly the appearance of this coin will greatly affect the market ( for example Dubai coins) but this is a great indicator of how the blockchain takes over the world. Wink

Dubai coins having ability because look at Arabic people they are very rich and they are investing in their coins therefore there imagine and value is more than we are expecting. So i hopefully you got what I’m trying to pulling.

that's right. but if indian government will launch their own crypto then I think people will start to take interest in it, what u say?

true words. if indian people support crypto from out side india then they will support their own

cant agree more. beside regulating crypto, the government can also launch their own crypto.

ashuK27

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Quote from: SKR27 on September 27, 2017, 02:57:02 AM

Quote from: mozillaspez on September 23, 2017, 05:49:57 AM

Quote from: vfrcbv91 on September 22, 2017, 04:18:57 AM

Hardly the appearance of this coin will greatly affect the market ( for example Dubai coins) but this is a great indicator of how the blockchain takes over the world. Wink

Dubai coins having ability because look at Arabic people they are very rich and they are investing in their coins therefore there imagine and value is more than we are expecting. So i hopefully you got what I’m trying to pulling.

that's right. but if indian government will launch their own crypto then I think people will start to take interest in it, what u say?

true words. if indian people support crypto from out side india then they will support their own

SKR27

newbie

Activity: 4

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Quote from: mozillaspez on September 23, 2017, 05:49:57 AM

Quote from: vfrcbv91 on September 22, 2017, 04:18:57 AM

Hardly the appearance of this coin will greatly affect the market ( for example Dubai coins) but this is a great indicator of how the blockchain takes over the world. Wink

Dubai coins having ability because look at Arabic people they are very rich and they are investing in their coins therefore there imagine and value is more than we are expecting. So i hopefully you got what I’m trying to pulling.

that's right. but if indian government will launch their own crypto then I think people will start to take interest in it, what u say?

mozillaspez

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Quote from: vfrcbv91 on September 22, 2017, 04:18:57 AM

Hardly the appearance of this coin will greatly affect the market ( for example Dubai coins) but this is a great indicator of how the blockchain takes over the world. Wink

Dubai coins having ability because look at Arabic people they are very rich and they are investing in their coins therefore there imagine and value is more than we are expecting. So i hopefully you got what I’m trying to pulling.

Iyeman

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Quote from: ashuK27 on September 21, 2017, 07:18:41 AM

What are your thoughts on an Indian fiat cryptocurrency?
Do you think that it could replace Bitcoin in India?

Do you mean the digitalization of the rupe into the crypto? and i can say that will never replace the bitcoin in india. bitcoin just like a dollar that has a big domination to other crypto currency in this time.

matuson

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I don't believe in any cryptocurrency if it is under the control of the government. The value of bitcoin is that it has no such control and is available all over the world. New Indian coin can attract the attention of speculators, but as soon as they withdraw their money this coin will be a disaster.

Topic: official Indian Crypto Currency (Read 750 times)