official Indian Crypto Currency - page 2.

talkbitcoin

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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?

first of all any coin that is created by the government is considered heavily centralized and will not even be a valid competition for bitcoin since bitcoin is decentralized and that is why it is being widely adopted.

secondly India has recently made bitcoin legal and for about 2 years Indian has been very interested in bitcoin and have been accumulating. they are already big "share-holders" so to speak. they won't just give up bitcoin for anything else.

3DBrushes

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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?

RBI is not comfortable with Bitcoin so they are thinking to launch their own crypto currency. Which is ofcourse be centralised by banks and may be they will tax on each of the transactions finally it will be more useful for government than people. So it can't replace the Bitcoin which is decentralised. If they still bring the new crypto currency then it may coexist with Bitcoin and other crypto and it can't and it'll never replace the use of Bitcoin.

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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?

Oh! This is quite a big news. I think I heard of Estonia creating their own cryptocurrency several weeks or a month ago. And now India is doing it right now. Crypto is indeed the future. I am not from India but I think there are still areas in the country that are out of reach of internet.

vfrcbv91

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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

Spoetnik

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It should be called Pajeet Coin Cheesy

renes

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No, I think bitcoin still remains as the most used cryptocurrency and I don't think countries will prefer to create a coin similar to bitcoin. It must be different.

SKR27

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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.

IamAltcoinfan

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I have seen the news channel telling about lakshmi cryptocurrency by banning Fiat currency but there is no way of spend cryptocurrency in real world like Fiat there will be n number of transaction confirmation and also transaction fee required for each transaction.

ashuK27

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Quote from: VitKoyn on September 21, 2017, 08:09:04 AM

It's not new that another country make their own cryptocurrency because they have trust issues in bitcoin. India still don't release more information about Lakshmi like whitepapers but in some news they say it will just copy bitcoin, If that's true then I think this coin will have a hard time to make it bigger in the market. And I don't trust cryptocurrency made by any governments

While China tightens its grip on its cryptocurrency community, Japan is openly embracing cryptocurrencies and blockchain technology, legalizing bitcoin, and encouraging and funding blockchain research. i think all countries started work on it to make bitcoin official or make its own official crypto currency and people going to trust it.

richjohn

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Many countries are in process of creating their own cryptocurrency and so does India. The reason behind is not basically suppressing Bitcoin dominance but bringing an online form of currency running on blockchain which is centralised. Whether government would be banning Bitcoin or not has nothing to do with RBI's Lakshmi announcement. One more thing I would like to bring here is that even if government bans Bitcoin after launching Lakshmi, then also Lakshmi can successfully help in being a medium for converting fiat from bank to buy Bitcoin online and then converting it back to Lakshmi, then fiat without government knowing anything. Thus, overall ban of Bitcoin will go in vain.

gustavroy

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is that a correct news?if it will be happen BTC and all other crypto currencies going to the moon.i know people living in india interest in bitcoin and it can be true i wish it will be happen

VitKoyn

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It's not new that another country make their own cryptocurrency because they have trust issues in bitcoin. India still don't release more information about Lakshmi like whitepapers but in some news they say it will just copy bitcoin, If that's true then I think this coin will have a hard time to make it bigger in the market. And I don't trust cryptocurrency made by any governments

ashuK27

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

Topic: official Indian Crypto Currency - page 2. (Read 750 times)